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Bad beat/Moaning/Venting thread - Wordle Gummidge
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Originally posted by Hitchhiker's Guide To... View PostThe key to solving the pension crisis is, quite simply, for people to actually save for their pensions. Something that a ridiculous number of people don't do.
The huge majority of people who complain about public sector pensions begin high, don't save even slightly close to the same 13% of their pay each year into a pension. (the pensions are still high, but maybe because of the assumed employer contribution which happens in private sector pensions but not public sector).
Not sure when pension auto-enrollment is starting / started? But that's a big step in the right direction. The problem being that it is 12% (unless it has changed) pension saving per year - 4% employee, 4% employer, 4% state. While really you need that percentage to be up around 20%.
Pensions like that literally don't exist in the private sector any more, certainly for anyone still working.
13% sounds like a lot for a pension contribution but if you take what it would actually cost to fund a PS pension, it would be a multiple of that 13%. In fact you would have to pay more than 50% of salary to fund a PS pension. V will have the numbers.
So fine - have a great pension, that's great. But please don't ask everyone else to pay for it. That's where the complaints come from."We are not Europeans. Those people on the continent are freaks."
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Guest
Originally posted by Raoul Duke III View PostSo fine - have a great pension, that's great. But please don't ask everyone else to pay for it. That's where the complaints come from.
My pension+levy looks to come to around 10.2% of gross.
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It's not just public pensions that have the problem. even funded pensions are predicated on the pension fund making 7% a year. In a world with negative interest rates 7% is very difficult to make. The upshot will be pension funds taking on bigger and bigger risk, which will lead to some of them blowing up. https://www.ft.com/content/2a6ec6aa-...8-83789a2bc481
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Guest
Originally posted by Raoul Duke III View PostSo fine - have a great pension, that's great. But please don't ask everyone else to pay for it. That's where the complaints come from.
My pension+levy looks to come to around 10.2 % of gross.
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Originally posted by Hitchhiker's Guide To... View Post
Now I'm scared. I'm being so screwed on rent and school fees, that I can't handle any more knocks to the family income!
You are of course wrong again on the 13% bit. But you should be used to that by now."We are not Europeans. Those people on the continent are freaks."
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Originally posted by zuutroy View PostMy pension+levy looks to come to around 10.2 % of gross.
Now, in terms of what you get - what are the headline terms of your pension?- retirement age?
- % of final salary?
- index-linked?
- lump sum?
"We are not Europeans. Those people on the continent are freaks."
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Guest
1. 65 I think because I joined a long time ago...think it's 67 now? Don't really mind as I'll probably work as long as I'm allowed.
2. 1.25% per year of service up to a max of 50%
3. I think so...You continue to get x% of whatever the current salary for whatever your retirement point on the scale was.
4. 1.5x final salary if you've completed 40 years....Pro-rated if you haven't.
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Originally posted by zuutroy View Post1. 65 I think because I joined a long time ago...think it's 67 now? Don't really mind as I'll probably work as long as I'm allowed.
2. 1.25% per year of service up to a max of 50%
3. I think so...You continue to get x% of whatever the current salary for whatever your retirement point on the scale was.
4. 1.5x final salary if you've completed 40 years....Pro-rated if you haven't.
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Originally posted by zuutroy View Post1. 65 I think because I joined a long time ago...think it's 67 now? Don't really mind as I'll probably work as long as I'm allowed.
2. 1.25% per year of service up to a max of 50%
3. I think so...You continue to get x% of whatever the current salary for whatever your retirement point on the scale was.
4. 1.5x final salary if you've completed 40 years....Pro-rated if you haven't.
Prepare the assumptions:- I have no idea what you earn but let's say 80k (probably short-changing you here )
- let's say you will retire at 65
- let's say you are 40 (close enough, right)
- imagine for a second you are a private sector worker and you have been diligently contributing 10% p.a. since you started working and your fund now stands at 200k (this is a really generous assumption but it works to your benefit)
and let's plug your numbers into a pension calculator
and let's tell the calculator you want to have a target retirement income of 50%, i.e. 40k p.a.
That's a nice chunk of change for a retiree.
Ignore the state pension for now as everyone gets this - let's just focus on what you get via your own funding.
calculator says:
you are not expected to meet your Target Pension of €40,000 p.a. in retirement.You need to increase your contributions to 25.3% of Salary a year in order to meet your Target Pension. Alternatively, you could consider reducing your Target Pension in retirement or retiring at a later age.
Originally posted by Hitchhiker's Guide To... View PostThe key to solving the pension crisis is, quite simply, for people to actually save for their pensions. Something that a ridiculous number of people don't do.
Originally posted by Hitchhiker's Guide To... View PostReally wish they would switch to a funded model. Where they actually set aside the substantial amount contributed each year by public sector workers towards their pension.
Originally posted by Hitchhiker's Guide To... View PostT The problem being that it is 12% (unless it has changed) pension saving per year - 4% employee, 4% employer, 4% state. While really you need that percentage to be up around 20%.
"We are not Europeans. Those people on the continent are freaks."
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Guest
How much money was spent plastering Imelda mays cringe poem up on billboards around the country (saw 1st one in the wild yesterday)
if a child wrote that you’d roll your eyes and pat them on the head not sure why it’s getting the billboard treatment
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Originally posted by Hitchhiker's Guide To... View PostRemember Raoul that zuut is on the old pension scheme. It's a different scheme now - the single superannuation scheme. % of final salary is gone for a start."We are not Europeans. Those people on the continent are freaks."
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Guest
Originally posted by Hitchhiker's Guide To... View PostI see Saoirse McHugh has left Greens to join (unstated as of yet) Sinn Fein. She may find the discipline in SF a bit more effective and rigorous at managing her.
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Originally posted by Hitchhiker's Guide To... View PostRemember Raoul that zuut is on the old pension scheme. It's a different scheme now - the single superannuation scheme. % of final salary is gone for a start.Last edited by Tar.Aldarion; 23-07-20, 10:06.
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Originally posted by Hitchhiker's Guide To... View Post
and it was very impressive number clicking skills - I meant to compliment you on that.
I was just completing the picture for the interested reader (of which I'd highly doubt there are many left), that the generosity of the old scheme has been replaced by a new scheme which doesn't offer the same benefits."We are not Europeans. Those people on the continent are freaks."
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Originally posted by Hitchhiker's Guide To... View PostHard to see Johnny Depp losing this case at the moment. Kinda glad to see that, as his movie druggy harmless persona seems quite realistic so far.Gone full 'Glinner' since June 2022.
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Don't think she's joining SF
Splits in the greens are inevitable as in all puritan / utopian groupings.
If Martin wins leadership you may as well start printing the election posters. Sounds like she won't but what I was hearing at the time from Greens who needed to be persuaded to go into government was that Ryan's head was the price of their vote.
Turning millions into thousands
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Guest
Originally posted by Raoul Duke III View Post
calculation
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Originally posted by Hitchhiker's Guide To... View Post
I'm not your secreta ... oh okay then. Sourced from here.- Retirement age is 68
- Benefits are index linked to inflation rather than current salaries
- Tax Free Lump Sum Calculations = Gross Pensionable Salary x 3.75%
- Pension Calculations= Gross Pensionable Salary x 0.58% (up to salary threshold of €48,000 approx) PLUS Gross Pensionable Salary x 1.25% (salary earned over the threshold of €48,000)
And of course, you have no investment risk whatsoever. Nice!"We are not Europeans. Those people on the continent are freaks."
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Originally posted by zuutroy View Post
Have to admit this stuff is largely Greek to me, but should does your calculation take account of the fact that I've already been paying in for more than a decade?
Originally posted by zuutroy View PostIn any case, it says I would need to be contributing 25% and I'm contributing 10% but don't most employers match what the employee puts in to a pension as part of overall remuneration....That gets us much closer to the 25% no?
Originally posted by zuutroy View PostAlso as I mentioned the pay is about 50-100% lower than the private sector would offer so I think the tax-payer gets pretty decent value for money over the totality.
If you can truly get 50-100% more for doing the same job, that is an absolute no-brainer of the highest order."We are not Europeans. Those people on the continent are freaks."
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Originally posted by Hitchhiker's Guide To... View Post
What do you think yourself?Gone full 'Glinner' since June 2022.
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Originally posted by Hectorjelly View PostIt's not just public pensions that have the problem. even funded pensions are predicated on the pension fund making 7% a year. In a world with negative interest rates 7% is very difficult to make. The upshot will be pension funds taking on bigger and bigger risk, which will lead to some of them blowing up. https://www.ft.com/content/2a6ec6aa-...8-83789a2bc481
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Originally posted by Raoul Duke III View Post
I think the issue with PS pensions is not that they exist, it's the gold-plated DB nature of them and the fact that they are unfunded - we pay for them out of current tax revenues.
Pensions like that literally don't exist in the private sector any more, certainly for anyone still working.
13% sounds like a lot for a pension contribution but if you take what it would actually cost to fund a PS pension, it would be a multiple of that 13%. In fact you would have to pay more than 50% of salary to fund a PS pension. V will have the numbers.
So fine - have a great pension, that's great. But please don't ask everyone else to pay for it. That's where the complaints come from.
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Guest
Originally posted by Raoul Duke III View Post
This makes you sound rather silly tbh rather than some kind of altruistic patriot.
If you can truly get 50-100% more for doing the same job, that is an absolute no-brainer of the highest order.
Not altruistic. I just couldn't face the private sector. Colleagues including your former neighbour who were a few years younger than me jumped ship to the data analytics train and are on 50% more but it sounds like absolute misery.
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Guest
Hope I’m not funding the pensions of these cunts and their “research”, this has been known for years
”The researchers at Trinity found Google Play Services contacts Google servers roughly every 10-20 minutes, allowing fine-grained location tracking via IP address.
They have said Google Play also shares the phone international mobile equipment identity (IMEA), hardware serial number, SIM serial number, handset phone number and user email address with Google, together with fine-grained “data on the apps running on the phone.”Last edited by Guest; 23-07-20, 12:38.
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Originally posted by Denny Crane View Post
Isn't that what we had the pension reserve fund for before we put it into the banks?
"We are not Europeans. Those people on the continent are freaks."
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Originally posted by ComradeCollie View Post
I think he was foolish to take the case. Think most jurys will want to punish him for being such a gobshite, regardless of the witness statements which don't amount to much either way.
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Originally posted by zuutroy View Post
Not altruistic. I just couldn't face the private sector. Colleagues including your former neighbour who were a few years younger than me jumped ship to the data analytics train and are on 50% more but it sounds like absolute misery.
Especially when I hear some of the tales MrsD3 brings home."We are not Europeans. Those people on the continent are freaks."
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Guest
Extremely disingenuous to link this to the covid 19 tracker app when this snitching is baked in to all android phones by default.
love that you will get morons deleting the app based on this article who will then happily keep using google play.
Concerns over Google Play Services reignited over Covid apps but HSE warns against conflating issuesThe HSE has said it is important not to conflate issues with how Google enables apps through the store with the functionality of this particular app.
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Originally posted by Solksjaer! View Post
She takes the bitches be crazy tagline to extremes . He will get off easily .
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Originally posted by Solksjaer! View Post
She takes the bitches be crazy tagline to extremes . He will get off easily .Gone full 'Glinner' since June 2022.
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argumentative Hitch
No matter how wrong or scatter gun his statements about Russia and China its very telling the way the focus of the extreme right has shifted to fighting the cause of single group of long persecuted Muslim group just at the time when their hero, the POTUS once the leader of the free world is sending real live Jackbooted thugs onto the streets of cities led by his political enemies to beat up people as an electioneering stunt.
Interview with the guy from Portland police on Newsnight was shocking with some extremely disturbing undercurrents.Turning millions into thousands
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Originally posted by PSV58 View PostHope I’m not funding the pensions of these cunts and their “research”, this has been known for years
”The researchers at Trinity found Google Play Services contacts Google servers roughly every 10-20 minutes, allowing fine-grained location tracking via IP address.
They have said Google Play also shares the phone international mobile equipment identity (IMEA), hardware serial number, SIM serial number, handset phone number and user email address with Google, together with fine-grained “data on the apps running on the phone.”People say I should be more humble I hope they understand, they don't listen when you mumble
Get a shiny metal Revolut card! And a free tenner!
https://revolut.com/referral/jamesb8!G10D21
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Originally posted by Lao Lao View Post
Did you ever pull the trigger on the Millesima vino?
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