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Old 11-07-18, 13:17   #37921
Tar.Aldarion
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It's occupational so employer bit doesn't matter then. I need to figure out how much I want at the end of it in the pot.
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Originally Posted by luckforsome View Post
...Thanks for the reminder TAR, I really gotta sort mine out...Currently my job stick in 11% of salary, and I'm sticking in 0%...31 now, reckon I really need to start thinking about future Liam...
I'm curious does everybody get capitals for their name or just me? is it related to the .'s? Yeah get on it, I didn't do it for years either as I couldn't afford to and the earlier the better.

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I made the gut-wrenching decision last week to reduce my pension payments down to the min 4% to get the max employer contribution (8%) for a couple of months. I didn't really expect buying a house to eat so badly into my cash reserves, but need the extra wiggle room to get the old emergency fund back up to scratch.

It's sickening the paltry amount extra coming into the bank account compared to the previous payment into the pension fund. I mean it's half obviously, but it feels like a real kick in the goolies not to be maxing out them juicy tax breaks.
I don't know the feeling, these avocado toasts mean there is no house fund for my kind!
I can only imagine there is much more stuff to a house that I well, imagine. Don't want to think about it yet. Once you are done with yours I'll get ETF and house lessons off ya.
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Old 11-07-18, 13:25   #37922
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Yes. Did anyone advise you on this when you were getting it setup?
Yes, I spent an afternoon with someone from Irish Life putting some money into a 5 year plan thing, and setting up the pension.
Though she said No when I asked if I could make a payment in respect of last year - she said I could go back to the start of this year but not last year.
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Old 11-07-18, 13:36   #37923
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Yes, I spent an afternoon with someone from Irish Life putting some money into a 5 year plan thing, and setting up the pension.
Though she said No when I asked if I could make a payment in respect of last year - she said I could go back to the start of this year but not last year.


Is this pension in respect of a new employment in 2018? If it’s an occupational scheme related to a new 2018 employment than its true that you can’t contribute to that particular scheme in relation to a previous tax year.

However, you could still do a prsa now for 2017. However if you setup a prsa with Irish life, which I suspect you did, and she said no to 2017 pension contributions that’s just wrong and terrible advice. It’s costing them money and giving you wrong info. Terrible stuff.

I’m intrigued as to what the 5 year plan thing is. Is this just a savings plan?
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Old 11-07-18, 13:59   #37924
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Is this pension in respect of a new employment in 2018? If it’s an occupational scheme related to a new 2018 employment than its true that you can’t contribute to that particular scheme in relation to a previous tax year.
Nope not new employment. Its not to do with employer anyway, they don't contribute anything.

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Originally Posted by V for Vendetta View Post
However, you could still do a prsa now for 2017. However if you setup a prsa with Irish life, which I suspect you did, and she said no to 2017 pension contributions that’s just wrong and terrible advice. It’s costing them money and giving you wrong info. Terrible stuff.
I just logged in there now, it's called a 'Navigator Personal' Pension Plan.
I just went into my local Ulster Bank to meet the Irish Life person, they seem to have a partnership.
This is the blurb.
Can you maybe give it a 60 second scan to see if I've made a big mis-step and should go for something else. I suppose the main thing being if it should actually allow me to contribute for last year.

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I’m intrigued as to what the 5 year plan thing is. Is this just a savings plan?
Aye, its a 5 year investment bond thing with them, they turned 60K into 75K in a previous 5 year bond so I just rolled it over.
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Old 11-07-18, 14:24   #37925
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Nope not new employment. Its not to do with employer anyway, they don't contribute anything.


I just logged in there now, it's called a 'Navigator Personal' Pension Plan.
I just went into my local Ulster Bank to meet the Irish Life person, they seem to have a partnership.
This is the blurb.
Can you maybe give it a 60 second scan to see if I've made a big mis-step and should go for something else. I suppose the main thing being if it should actually allow me to contribute for last year.



Aye, its a 5 year investment bond thing with them, they turned 60K into 75K in a previous 5 year bond so I just rolled it over.
Man you’re the reason a bank branch network still exists. I see no reason why you can’t backdate the payment for the 2017 tax year. Ask the adviser to confirm in writing that you can t make a contribution for 2017.

How much allocation are you getting on the pension and what charges are you paying on the savings plan? Any particular reason why you didn’t go seek independent advice. It would already have paid for itself.
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Old 11-07-18, 14:41   #37926
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Man you’re the reason a bank branch network still exists. I see no reason why you can’t backdate the payment for the 2017 tax year. Ask the adviser to confirm in writing that you can t make a contribution for 2017.

How much allocation are you getting on the pension and what charges are you paying on the savings plan? Any particular reason why you didn’t go seek independent advice. It would already have paid for itself.
Cheers, 'I don't know' is probably the answer to pretty much everything.
I'll read the paperwork over the weekend to find out the allocation rate, and will report back for general lolling.
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Old 11-07-18, 14:50   #37927
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Fedrerer looking dodgy at Wimbledon.
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Old 11-07-18, 15:22   #37928
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Fedrerer looking dodgy at Wimbledon.
...Very dodgy right now...
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Old 11-07-18, 15:56   #37929
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Cheers, 'I don't know' is probably the answer to pretty much everything.
I'll read the paperwork over the weekend to find out the allocation rate, and will report back for general lolling.
Pension charges.
Just read a big pdf file there, great fun.

Allocation seems to be 99%, is that good. It seems a nice high figure.

Quote:
% of contribution invested 99%
charges
Quote:
Yearly Fund Charge .90%. Yearly Plan Charge .25%.
Also
Quote:
A plan fee will be deducted from your fund on a monthly basis. The fee is currently €4.69 a month and increases in line with the CPI.
But the biggie I think is this one.
Quote:
What Intermediary Sales/Renumeration is payable?
Year 1. €6116.
Year 2. €512.
Year 3. €517.
...
Year 10. €927.
...
Year 15. €994.
Does that mean what I think it means, that someone is taking 33% of my first year contributions and a small but steady percentage afterwards?
That seems, well, wrong.

Apols for boring everyone.

Last edited by ArmaniJeans; 11-07-18 at 16:26.
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Old 11-07-18, 16:01   #37930
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...Absolute epic match this Federer Anderson...8-8 on serve in the 5th set...
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Old 11-07-18, 16:13   #37931
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An Englishman and Frenchman are chatting in a bar. Englishman says " we're playing Croatia on Wednesday" the Frenchman says " what a coincidence, we're playing them Sunday".
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Old 11-07-18, 16:13   #37932
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...Absolute epic match this Federer Anderson...8-8 on serve in the 5th set...
10-10. They should be made to drink a shot between points.
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Old 11-07-18, 16:16   #37933
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€6,000 first year fees on a €75,000 fund. My good god. They saw you coming.


Having said that, I've no idea of the fees on my pension either and no real clue how it turns into something at retirement.
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Old 11-07-18, 16:19   #37934
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10-10. They should be made to drink a shot between points.
...Stop lying M8, it's 11-11...
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Old 11-07-18, 16:22   #37935
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Beyond the public sector pension I just lump the spare loot into blue chip stock. Costs fook all, easy to understand, and element of gamble.
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Old 11-07-18, 16:23   #37936
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Beyond the public sector pension I just lump the spare loot into blue chip stock. Costs fook all, easy to understand, and element of gamble.
...Visa and Amazon have been so good to me for so long in this regard...
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Old 11-07-18, 16:29   #37937
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...Stop lying M8, it's 11-11...
...WOW, Federer out...Had a match point to win in straight sets, and loses 13-11 in the 5th...What a comeback from Anderson...
...Pity, I would have loved a Federer Nadal final...
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Old 11-07-18, 16:33   #37938
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No joy as expected unfortunately TylerD. Martingale it.
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Old 11-07-18, 16:43   #37939
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On China's sea power, the miliatry spend is nothing compared to what they are doing in trade. State owned Chinese companies are slowly becoming the largest players in their field. In the last 5 years, for example, the state owned shipping line has gone from number 6 in the world to soon to be the number 3 spot through a series of acquistions worth billions that come from bottomless government coffers. They are also hoovering up ports and terminals all over the world, all designed to create a seemless route to market for the goods they produce.
Seems as AJ is boring people with pensions I'll bore people with how China is dominating the seas/trade.


Cosco Shipping Holdings is an investment holding company principally engaged in container shipping and related businesses. It's a state owned Chinese entitiy. They own a shipping line called COSCO and terminals all over the world.

COSCO is the 4th biggest shipping line in the world.

Last week, Cosco Shipping Holdings got the final regulatory approval (5 from different bodies around the globle were required) to purchase OOCL in conjunction with SIPG (Shanghai Intl Port Group) (OOCL is the 8th biggest shipping line in the world) The combined shipping entity will be the 3rd biggest shipping line in the world.

Shanghai Intl Port Group is the exclusive operator of all the public terminals in the Port of Shanghai and is owned by the Chinese government.

The deal was that Cosco Shipping Holdings would own 90.1% and SIPG would own 9.9% however, they wanted to keep OOCL's listing on the Hong Kong Stock Exchange so in order to do so, they had to meet the 25% public shareholding threshold.

So, they agreed to sell shares to the following groups in the below percentages. They also agreed to sell the shares to each party for the same price they bought them for

Cosco Shipping Holdings - 75%
Shanghai Intl Port Group - 9.9%
Silk Road Fund 7.7%
CK Hutchison - 5.0%
SDIC 2.4%

Silk Road Fund is a state owned investment fund of the Chinese government

CK Hutchison is a Cayman Islands–registered multinational conglomerate headquartered in Hong Kong. The company was formed in March 2015 through the merger of Cheung Kong Holdings and its main associate company Hutchison Whampoa. (Cheung Kong (Holdings) Limited, was a multinational conglomerate, based in Hong Kong - Hutchison Whampoa Limited (HWL) was an investment holding company based in Hong Kong)

SDIC is a Chinese state owned investment compnay controlled by the State Council of China


Last edited by Lao Lao; 11-07-18 at 16:45.
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Old 11-07-18, 17:10   #37940
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Well said Bogey

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