Savings

Blue Maverick said:
And what time do you think is reasonable to do that, when labour changed public sector pensions in 2006 they gave 10 years notice that people would go onto a new scheme in 2015/16, however the tories then fucked this up by tapering it on age and many years later lost in court on age discrimination. For me if we hadn’t won it affected me massively or would’ve done had we nit beat the tories in court. I had planned to use my lump sum to pay off my mortgage as long as I could do that I was happy, if the changes had stayed I would’ve been royally fucked. You can’t just turn round this year and say to people we are taxing your lump sum it has to be a significant amount of time given.
For those saying you are better off not taking it and leaving it in your annual pension, bollocks, any finace person will tell you take the tax free as much as you can you could drop dead the next day and your family would see no benefit at all.
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My Wife gets half my pension for life when I die…
 
Tuearts right boot said:
We have a holiday rental here in Wales and if we dont reach a rental figure of 50% occupancy we will get stung for 150% of the council tax. In laymans terms that will be between £5,500 to £7,500 per annum, the average rental doesn't make that...................Welcome to Wales, vote Labour and have a really lovely holiday. At our expense.
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Sell the fucker then if life's that hard. A family could live in it full time.
 
Dazzle84 said:
Sell the fucker then if life's that hard. A family could live in it full time.
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Although I agree with this I saw a report saying even if he did locals probably now couldn’t afford it and the tourism would disappear as they would have nowhere to stay so locals would have to move away, it’s just gone too far now and as they are changing the rules on Airbnb now as well lots could be coming up for sale.
 
west didsblue said:
Not necessarily. For most people the lump sum might be the better option but if you’re fit and healthy and you already have enough spare cash you might want a bigger pension. It’s what works for you that’s the right decision.
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Fit and healthy today get knocked over tomorrow, I think with mine I’d have got about £3/400 extra a month in my hand, so I would have to live 30 years to get what I got in my lump sum. So 83! even if I didn’t need to pay my mortgage off I’d have took the tax free lump sum, enjoy it now before you get too old to enjoy with the best will in the world I wouldn’t be jetting round the world in my 70s I’d rather do it now.
 
GH64 said:
Lump sum doesn’t change the widows pension (still 50% of the original pension) in my scheme. I was surprised by that, worth checking.
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The fire service one is half after commutation, I’m worth more dead than alive tbh that’s why I check for roller skates at the top of the stairs every morning
 
Blue Maverick said:
Fit and healthy today get knocked over tomorrow, I think with mine I’d have got about £3/400 extra a month in my hand, so I would have to live 30 years to get what I got in my lump sum. So 83! even if I didn’t need to pay my mortgage off I’d have took the tax free lump sum, enjoy it now before you get too old to enjoy with the best will in the world I wouldn’t be jetting round the world in my 70s I’d rather do it now.
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With those figures I’d do exactly the same but not all schemes are the same.
 
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