**Insert witty diary title here**

moving_forward

I don't believe so WW as that's the point. Turn things off at the wall when not in use. We already turn computers off at wall but have been lazy with TV etc as the sockets are hidden by furniture. We are going to get a switched extension lead to replace the current one.

Sun_Addict

I’ve got all my electrical things on switched extension leads for that very reason. 

moving_forward

Thanks SA..we buy switched if buying new but haven't wanted to replace ones which are working. Now the costs are increasing rapidly we are having to rethink. 

redofromstart

I find the pension stuff interesting, and hurrah for any DB scheme, generally worth their weight in gold.  Mr Redo drew down both his DB schemes to retire at 58 some months back.  The 55 increase to 57 is due to happen a few months after my 55th birthday, which may force a decision for me too.  It will at least be an informed decision. 

Sleepers on the electricity for me?  Work wireless printer was always on, and laptops on trickle charge.  I now switch my study sockets off at the wall at night.    We removed the TV a few weeks back, and nobody has noticed yet.

moving_forward

His DB is extremely small but it will come in useful. He left donkeys years ago in his old life. Hey ho.
Mine is worth about £200 a year so may buy me some dentures 😂

redofromstart

I have two tiny DBs, jointly worth about £1.2k per year.  My current DC pot is worth about £20k and wouldn't buy that as an annuity!

I am relatively lucky and salary sacrifice a matched 5% into the DC scheme and my employer adds their NI saving, but most of the DB schemes for my TUPE people are around 5.8% employee/25% employer.  I scream silently when people opt out and rob their future selves. 

moving_forward

Mr M_F's DB is worth about 2.8k a year if I've read it right. Considering he left over 20 years ago it's mad!
His DC about 18k. His work contribute bare minimum.
Mine about 55k. my work give 5% by sal sacrifice and the N.I they save. 
His total is 14.06% mine 18.83% but the cost after tax is the same. It's maddening as I earn more that we have to out more into this scheme for less out!
Aim is to get total contribution for both of us to 25% by time we are 50. It's not far off 🤣
If we use a 3.5% withdrawal rate he's currently Better off than me with the DB.
What's Tupe?

redofromstart

TUPE is the employment law that protects employees rights when their employer changes - generally catering, care, cleaning, bins, and some company purchases. Classically Council outsources services, staff transfer to private contractor with protected rights which usually includes the enhanced DB pension.

moving_forward

Oooh so if my employer sells out in future I could retain certain rights like % into pension? That would be great as our management is approximately 9 years or more older than me so it could happen

moving_forward

Hello all.
I had my first statement from one of the balance transfer cards today and realised the first payment isn't due till May. I have used the money id budgeted for this month to pay off the furniture loan in full 😁

I have rejigged the estimated budget for the year and have got the may to Dec spreadsheets all ready. I have included the change in N.I. April and July, an increase to Mr M_F's pension based on this in July but not included a rumoured payrise of his.  It hasn't been confirmed yet nor how much but his colleague said they were getting one after none last year so 🤞

Octopus have confirmed we have gone into the non E7 rate. We don't have storage heaters so don't gain anything and having to wait to put washing on etc over night has been annoying. Announced to Mr M_F the good news and he has the bedsheets and shower curtain in the machine already 😁

All in all an effective morning of balancing the budget.