It's time to start digging up those Squirrelled Nuts!!!!

westv

Bravepants said:

westv said:

I'm not digging up my nuts just yet but, with just under 3 months to go, I did decide today to "retire online" with my FAS backed DB pension.

Are you saying that you applied for your pension? I know some DBs need 3 months notice.  

The FAS website says you can (in their words) "retire online" up to 3 months prior to your NRA for the scheme they have taken on. It just meant I was able to provide my banking details and they told me when the first payment was due.

Albermarle

It just meant I was able to provide my banking details and they told me when the first payment was due.

Sounds like you were lucky. Getting my DB pension into payment took nearly 6 months ( with Mercer) and that was with official complaints and help from my ex employer.

westv

Albermarle said:

It just meant I was able to provide my banking details and they told me when the first payment was due.

Sounds like you were lucky. Getting my DB pension into payment took nearly 6 months ( with Mercer) and that was with official complaints and help from my ex employer.

I think we all know Mercer are crap but I've not actually received any money yet from the FAS  though. 

Pat38493

westv said:

Albermarle said:

It just meant I was able to provide my banking details and they told me when the first payment was due.

Sounds like you were lucky. Getting my DB pension into payment took nearly 6 months ( with Mercer) and that was with official complaints and help from my ex employer.

I think we all know Mercer are crap but I've not actually received any money yet from the FAS  though. 

My DB pension has been managed through Mercer in the past and I have to go through Mercer for queries, estimates etc.

I have been told the scheme is being fully bought out within the next 18 months with an Aviva buy out.

The pension also has a "sole trustee" company that was appointed.

Does this mean that Mercer will be completely not involved anymore and I will just go through Aviva for everything?  Does this mean effectively there won't be any trustees anymore as it's an insurance policy with Aviva?

Albermarle

Does this mean that Mercer will be completely not involved anymore and I will just go through Aviva for everything? 
You can fervently hope this is the case !
 

atush

MallyGirl said:

barnstar2077 said:

Albermarle said:

barnstar2077 said:

Sea_Shell said:

What about travel costs once you're no longer driving too?

How far away is "too far" to expect lifts hither and thither, from family, for the trivial stuff (shopping*) or the important stuff (medical appointments)

What are people's plans for this in late retirement?

Rely on family, friends, taxis, public transport (if practical)


* Stuff you'd rather not just order on line.

I don't think enough people think about this!

The amount of couples in their sixties that I see on these house building shows that construct places in the country, or on the edge of town, with multiple floor levels and normal sized door openings.  They never seem to think about what happens when they are too old to drive, or have mobility issues and need to get a scooter/wheelchair around the house.

Even though I am still in my forties I wish I lived in a bungalow as my accumulated injuries and ailments make the stairs a pain sometimes.

We have had posters on the forum, who are planning a big move to their large dream house in their 60's, with no thought about what will happen later.
The best one I remember was on a TV show about older ex pats having to come home due to medical issues. One said ' It never occurred to me that one of us could get really ill' 

Also, I dread to think how much it costs to run one of these dream homes in the country.  At least when people build from scratch they can make sure they are well insulated and have solar power etc.  Imagine heating a draughty five bedroom Tudor mansion these days.  Makes me glad to be poor! :  )

It is not a Tudor mansion but my Mum and her husband retired to Devon - down valued but upsized. The house was only about 5 years old so well insulated but just darn big, and in the middle of nowhere. Octopus just put their DD up to £600 per month as they have the heating on all the time because they feel the cold and he has some health issues. The drive is so steep that they have to drive the bins down in the car. There are no services or shops in walking distance. It is a big worry as they are 120 miles from me and 180 from my brother. It was an ok house to buy when they were in early 60s, apart from being too big for just 2 people, but they now can't face the hassle of moving - as we feared at the time.

Help them to move, like it or not.

Not having to drive the bins down will help.

MallyGirl

atush said:

Help them to move, like it or not.

Not having to drive the bins down will help.

They are coming for Christmas so maybe they will give some idea of their plans for the future 🤞

Sea_Shell

from the BBC...

Workers over 50 encouraged to end early retirement

The government is considering plans to coax retired middle-aged workers back into jobs to boost the economy.

Older people who have given up work could be offered what is being dubbed a "midlife MoT" to entice them back into employment, the Times reports.

The paper says the MoT would assess finances and opportunities for work.

...

A public information campaign focusing on people over the age of 50 could begin as early as spring.

Good luck with that!! Do they seriously think that we (general) have not been "assessing our finances" when making a decision NOT to work in our 50s.    

Audaxer

Sea_Shell said:

from the BBC...

Workers over 50 encouraged to end early retirement

The government is considering plans to coax retired middle-aged workers back into jobs to boost the economy.

Older people who have given up work could be offered what is being dubbed a "midlife MoT" to entice them back into employment, the Times reports.

The paper says the MoT would assess finances and opportunities for work.

...

A public information campaign focusing on people over the age of 50 could begin as early as spring.

Good luck with that!! Do they seriously think that we (general) have not been "assessing our finances" when making a decision NOT to work in our 50s.    

I've not read the article, but I don't know how they could possibly coax early retirees to get back to work without some financial incentive.  Even if that was a possibility, it still wouldn't coax me back to work.

cfw1994

Audaxer said:

Sea_Shell said:

from the BBC...

Workers over 50 encouraged to end early retirement

The government is considering plans to coax retired middle-aged workers back into jobs to boost the economy.

Older people who have given up work could be offered what is being dubbed a "midlife MoT" to entice them back into employment, the Times reports.

The paper says the MoT would assess finances and opportunities for work.

...

A public information campaign focusing on people over the age of 50 could begin as early as spring.

Good luck with that!! Do they seriously think that we (general) have not been "assessing our finances" when making a decision NOT to work in our 50s.    

I've not read the article, but I don't know how they could possibly coax early retirees to get back to work without some financial incentive.  Even if that was a possibility, it still wouldn't coax me back to work.

Oh, I don’t know….offer me a truly massive golden hello & I could drive a delivery van about for 3 months 🤣
Mind you, I’ve not got any time free until next October now 🤪

(but seriously - they could have carrot tools like that - perhaps *increase* the LTA to encourage people, or indeed sticks like removing the triple lock, etc…..let me guess which they will chose 🥴)

Merry Christmas all, enjoy those squirrelled nuts 🎄🍻🥂😎👍