FTSE100 doing well... considering double dip on way?

Batchy

Been monitoring the FTSE, it fell down to 51xx recently now well over 55xx...

could we see 60xx by xmas?... fingers crosssed, I think the economy needs this, needs some confidence.

Government should start buying some investments to bump them up too, and let public sector pension see, just like prive sector pensions feel the pain.

I personally think final salary schemes are a joke... and its whats destroying our companies, when things are bad they are VERY bad!

Graham_Devon

Well apparently we are 9 days from the next eurozone crisis.

BUT. God knows what will happen to the FTSE, it's up and down like a !!!!!s drawers and bares little resemblence to anything thats going on.

JonnyBravo

Batchy wrote: »

I personally think final salary schemes are a joke...

I must admit I do smile to myself when I think of mine.

Batchy

JonnyBravo wrote: »

I must admit I do smile to myself when I think of mine.

Im a trustee for a private sector one, however, they are a HUGE drain on company resources, I think if everyone had Private ones, the world would be a better place ... its my personal belief, investments would be more stable and annuities would be more competitive.

No hope, cause you would never be able to afford one as a self employed, partner, so where is the risk reward factor in the world.

Each final salary scheme, costs at least 50% of a persons salary again, if not more, public sector should think about this and their package, when comparing, especially during the rough times, and most of the good times.

MrRee_2

My Final Salary Pension Scheme is a vital part of attracting talented staff - the Company pays into it 27% of Salary and the employee pays in 7.5%.

And, regarding the FSTE .... it will go where the economic confidence leads it.

I have said that it's all over for months - and it is. Nothing bad will happen, it will all calm down and fizzle out ..... too many vested interests to allow it to fail.

Rotor

JonnyBravo wrote: »

I must admit I do smile to myself when I think of mine.

Ah Jonny, at least your smugness indicates that you have a true understanding of the actual worth/cost of your pension.
At the time of the previous teachers strike I posted a link to a BBC 'Moneybox' programme where an independent actuary estimated that the cost to purchase their pensions on the market would be approx. 35% of salary ( which corresponds to Mr Ree's figures above). To say the least the figure wasn't believed! It was easier to pretend to themselves that it was a gross exaggeration
I was reminded of my children when they don't want to hear something - "la la la not listening"

MrRee_2

Teachers also get two payrises a year .... one on their anniversary and another annual rise .... they get additional payments, called TLR payments for such things as looking after the bikeshed or noticeboard (these TLR payments are worth up tp £13,000 each).

They do very, very well for themselves.

Prudent

Rotor wrote: »

Ah Jonny, at least your smugness indicates that you have a true understanding of the actual worth/cost of your pension.
At the time of the previous teachers strike I posted a link to a BBC 'Moneybox' programme where an independent actuary estimated that the cost to purchase their pensions on the market would be approx. 35% of salary ( which corresponds to Mr Ree's figures above). To say the least the figure wasn't believed! It was easier to pretend to themselves that it was a gross exaggeration
I was reminded of my children when they don't want to hear something - "la la la not listening"

I am a teacher. I am aware, very aware,of the value of my pension. It is something that I see as part of my salary package. Teacher's salaries and conditions have just had a major independent review in Scotland. In the review it was noted that our salaries only represent a fair wage for the actual contracted hours ( not all the unpaid overime we do) and if our pension provision remains as it is now. It was recommended that our salaries would need to be increased if the proposed pension changes go through.

For many teachers the key issue is the retirement age change not the increase in contributions. I am a special needs teacher. My job is very physical because of moving and handling issues as well as being emotionally and mentally draining. I love my job, but couldn't do it at 67 without being a risk to the children.

I have a private pension too. Yes I have to put in more for the returns, but it is not part of my salary package. I like its flexibility and the fact I can take it age 55. I put 15% of my income into it and see it as part of a broader strategy of savings and investments. The extra nice bit is that at 55 I can take the tax free lump sum and reinvest it into another pension, thus getting a second bite of the cherry with tax relief.

Prudent

MrRee wrote: »

Teachers also get two payrises a year .... one on their anniversary and another annual rise .... they get additional payments, called TLR payments for such things as looking after the bikeshed or noticeboard (these TLR payments are worth up tp £13,000 each).

They do very, very well for themselves.

Errr no! Teachers only get incremental rises for the first six years of their career. Our salaries have been frozen for 2 years, so no annual increase. As for the bike shed claim - haha, I wish! I am not complaining about my job or salary but do get very wreary of the extreme inaccuracy of some statements made about our working conditions and pay.

the_cat

Prudent wrote: »

My job is very physical because of moving and handling issues as well as being emotionally and mentally draining. I love my job, but couldn't do it at 67 without being a risk to the children.

Well you may or may not be right. However, until you are actually 67 you are not really in a position to say. Some people of that age are extremely fit and capable. Others who are less lucky and judged not to be capable would (presumably) be retired early on medical grounds.

brit1234

I can see my public sector pension retirement age ever increasing and myself never reaching it. My job is extremely physical, long hours and has far higher exposure to harmful situations. Some of this is out of my control, some is because I have a go get stuck in attitude.

Where I have little control over my pension I can have great control over my health. Lots of exercise, moderate alcohol, no smoking gives me the best chances in retirement. I'm also increasingly financially aware thanks to this site and others as well as private study. I think financial health is very important.

If through QE and other Stimulas ftse 100 goes over 6000 shortly I am selling my shares for an added bonus to my house buying fund.

My gold and silver will be my emergency hedge.