Last Gasp Saloon

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Profile Gary Charpentier Crowdfunding Project Donor*Special Project $75 donorSpecial Project $250 donor
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Message 1298636 - Posted: 25 Oct 2012, 15:45:17 UTC - in response to Message 1298617.  

They do pay for it......

Well that is 10%, where does the other 90% of the money come from?

Hint look for actuarial tables ...

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Message 1298714 - Posted: 25 Oct 2012, 19:24:23 UTC - in response to Message 1298636.  

Don't know where you got you figures from....

try this......

How much NI you pay
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Message 1298720 - Posted: 25 Oct 2012, 19:41:23 UTC - in response to Message 1298714.  

How much will you collect? Who makes up the difference?

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Message 1298723 - Posted: 25 Oct 2012, 20:00:13 UTC - in response to Message 1298720.  

How much will you collect? Who makes up the difference?

The Employee pays 12% and the Employer pays 13.2%. Thats the rates for "normal" workers.
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Message 1298747 - Posted: 25 Oct 2012, 21:19:04 UTC - in response to Message 1298723.  

How much will you collect? Who makes up the difference?

The Employee pays 12% and the Employer pays 13.2%. Thats the rates for "normal" workers.

How much will you collect? NO ANSWER.

For you personally figure out your stipend. Grab a life expectancy table. Multiply your stipend by how long you will live on average. Did (will) you, and your employer pay that much in?

Who makes up the difference? The Taxpayer.

No wonder nearly every country is going bankrupt. People can't do simple math!

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Message 1298749 - Posted: 25 Oct 2012, 21:24:26 UTC - in response to Message 1298747.  

How much will you collect? Who makes up the difference?

The Employee pays 12% and the Employer pays 13.2%. Thats the rates for "normal" workers.

How much will you collect? NO ANSWER.

For you personally figure out your stipend. Grab a life expectancy table. Multiply your stipend by how long you will live on average. Did (will) you, and your employer pay that much in?

Who makes up the difference? The Taxpayer.

No wonder nearly every country is going bankrupt. People can't do simple math!


My "collection" will be zero!

I'll let you work that one out as you show that you're good with numbers!
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Message 1298756 - Posted: 25 Oct 2012, 21:33:12 UTC - in response to Message 1298749.  

My, intentionally running away are we? Bully for you! Hope that strategy works for the rest of your life.

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Message 1298757 - Posted: 25 Oct 2012, 21:36:55 UTC - in response to Message 1298747.  

How much will you collect? Who makes up the difference?

The Employee pays 12% and the Employer pays 13.2%. Thats the rates for "normal" workers.

How much will you collect? NO ANSWER.

For you personally figure out your stipend. Grab a life expectancy table. Multiply your stipend by how long you will live on average. Did (will) you, and your employer pay that much in?

Who makes up the difference? The Taxpayer.

No wonder nearly every country is going bankrupt. People can't do simple math!

How much will you collect? NO ANSWER. Didn't realise you had asked that, £107.45/week for single person, is the basic rate. You have to pay for minimum of 30 years.

But I do agree, the amount collected and the amount pay out, do not compute.
I and others realised this in the early 70's and is one reason why I did my own pension planning.
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Message 1298758 - Posted: 25 Oct 2012, 21:39:29 UTC - in response to Message 1298756.  

My, intentionally running away are we? Bully for you! Hope that strategy works for the rest of your life.


Running away? WK answered for me. There are those of us out there who knew all this & made our own arrangements.

As my "collection" was zero, that should have told you something, but apparently, for one who knows numbers, it did not.....hmmnnn........
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Message 1298772 - Posted: 25 Oct 2012, 22:20:22 UTC - in response to Message 1298758.  

My, intentionally running away are we? Bully for you! Hope that strategy works for the rest of your life.


Running away? WK answered for me. There are those of us out there who knew all this & made our own arrangements.

As my "collection" was zero, that should have told you something, but apparently, for one who knows numbers, it did not.....hmmnnn........

No I remember your post which started it, you however don't.

Something about making them work for it. WK has it right as does the person you tried to make a fool of. Each needs to pay for their own. You even say you did so for yourself.

Better have your meds adjusted.

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Message 1298778 - Posted: 25 Oct 2012, 22:38:00 UTC - in response to Message 1298772.  

Wrong. Each generation is currently paying for the generation that precedes it. Unfortunately for many today, there will be no state pension for them as the cupboard is bare.

It's only been in recent times that the government have advertised nationally & encourage one to take out their own pension.

I was fortunate in that my employers pointed this out to all their employees & as far as I know, everyone did so.

The main problem is the government itself (& it could be said for all governments), is that if they ran the country like a proper business with NO or Little WASTE There would always be a surplus gaining interest.

However, that'll never happen, as those at the top would demand top dollar for their services, so the vicious circle continues.

And I'll lay odds that you'll come back on this saying "why shouldn't they?"

To circumvent that, I'll answer for you....

One can only eat one meal at a time
One can't only sleep in one bed at a time
Etc etc etc.

An indivdual, no matter what industry, earning Millions per annum is disgusting.
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Message 1298788 - Posted: 25 Oct 2012, 23:13:03 UTC - in response to Message 1298778.  

Wrong. Each generation is currently paying for the generation that precedes it. Unfortunately for many today, there will be no state pension for them as the cupboard is bare.

That is precisely my point. Everyone needs to pay for themselves. But you must disagree with me because that is your nature.

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Message 1298792 - Posted: 25 Oct 2012, 23:19:05 UTC - in response to Message 1298788.  

Wrong. Each generation is currently paying for the generation that precedes it. Unfortunately for many today, there will be no state pension for them as the cupboard is bare.

That is precisely my point. Everyone needs to pay for themselves. But you must disagree with me because that is your nature.


Incorrect. I do so because you are always demanding the math as if we're accountants or economists.

Have you ever stopped to realise that there are many out there who don't care about accounts/economy, but just want to earn a decent living & pay what is required to the state, leaving the rest of their income to pay for the fatcats at the top of the public utility companies/banks/supermarkets, with any left over to support their children &/or savings.
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Message 1298850 - Posted: 26 Oct 2012, 4:09:47 UTC - in response to Message 1298792.  

Incorrect. I do so because you are always demanding the math as if we're accountants or economists.

Economists can't do even simple math. But, if you can't even balance a check book, how do you expect for anyone to take you comments about money seriously? [pun not intended]

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Message 1298916 - Posted: 26 Oct 2012, 9:07:49 UTC - in response to Message 1298850.  

Incorrect. I do so because you are always demanding the math as if we're accountants or economists.

Economists can't do even simple math. But, if you can't even balance a check book, how do you expect for anyone to take you comments about money seriously? [pun not intended]


In that case, there is a quick way for the US to get its economy back on track... You & Bobby for Prez & VP.....one wants only facts according to law & the other does the math.

When you've done that pop over to Europe & sort theirs out. Job done!

Question for the maths guru.......

As there is no money in the kitty for future pension payouts & the government wanting everyone to buy their own, if the current generation does exactly that, what happens to the generation just retired as there is no money coming in to pay them? Let them die off quicker?

You seem to be giving the impression that you're in a well paid job with your own pension being paid by yourself & dislike your taxes going to those....shall we say..."less deserving"?
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Message 1298952 - Posted: 26 Oct 2012, 13:42:39 UTC - in response to Message 1298918.  

Good post Chris. The problem today compared to the past is that pensions advisors do not go into depth as they used to.

I've had a few "horribus annulus" but even though more & more people are looking for "Value for money", they seem to be spending more than they used to over the last several years.

This is looking good & with the orders already received, will be looking to put a few AVC's (Additional Voluntary Contributions) in to make up for the minimum paid in over the last few years.

A good example of this is: -

How builder survived the recession

It highlights a very important point.....

"John Durtnell, the former chairman who ran the business for 40 years, says that unlike some of his rivals who have gone to the wall, he always put money aside in the good years."
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Message 1298966 - Posted: 26 Oct 2012, 15:06:00 UTC

Like Chris

When I reached for my National pension, I was advised I had the full entitlement as I contributed for 44 years. Luckily, I worked full time, and moved to another full time just before redundancy struck several times in the old firm,
It's good to be back amongst friends and colleagues



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Message 1299008 - Posted: 26 Oct 2012, 17:33:18 UTC - in response to Message 1298916.  

As there is no money in the kitty for future pension payouts & the government wanting everyone to buy their own, if the current generation does exactly that, what happens to the generation just retired as there is no money coming in to pay them?

I believe you are just waking up to the reality that your politicians perpetrated a ponzi scheme upon your populace. Now someone will have to pay taxes to fund it, or it goes bankrupt, or its payouts are reduced to the level it was funded, or some combination of them.

If your politicians had funded it using actuarial data, rates would have changed every year, then there would be no discussion. Instead they assumed that population would increase forever, life spans would not increase, that inflation would remain small forever and they never looked to see if the assumptions remained true. Who is at fault? You could say the politicians, but that isn't right; the people are at fault, they elect the politicians. They screwed themselves. You made your bed, now lay in it.


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Message 1299104 - Posted: 26 Oct 2012, 20:54:39 UTC - in response to Message 1299008.  

Sorry, I woke up 40 years ago, & my bed is made snug thank you very much.
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Message 1299340 - Posted: 27 Oct 2012, 11:54:12 UTC - in response to Message 1296557.  

Going to give Chris S a mild stroke here....

It's about time that ALL public utilities are nationalised!


Well, I'll go to the foot of our stairs, would you Adam & Eve it? The man has got it at last. Took a while, but better late than never. These NHS supplied pacemakers are jolly good you know.


Nope, always known it, just coudn't locate the info I wanted......

...give muppets a lot of rope & they'll end up hanging themselves! In this case, very nice of them to do so.


Another 2 reasons why they should be renationalised....

Consumer wins case

Nice one Son.

Energy bully boys threaten to break in - just to read your meter

Hmmn, what a shame mine are outside or it might have been time to get another 2 German Shephards......

And the government's stance on all this? Butch to "reign in" the utility companies....oh really Butch? Then please explain this: -

Winter of Discontent

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