Today I'm angry about.....

[Verbal]

'Xactly.

Is that not against the law? It feels like it should be

[Prufrock]

Short answer is yes.

Looks to me like he could be done for the same offence as that lovely Liam Stacey fellow, who got 56 days in jail. I though Stacey's was harsh, given it didn't look like he actually was threatening in any real sense of the word. This Griffin thing reads in a much more sinister manner to me. I await his arrest....

[Lost Leopard Spot]

That is a very high rate of return, LLS. My investments with a financial advisor would not appear to do so well. I have had years of 25% and 15%, but 7-10% is more usual. In 2011 I actually lost 0.3% January to December (the stock market lost 11%), while this year I'm on track for about 10%, so only 5% per year. Given my age my investments are now more conservative than they were.

I don't think I understand UK pensions. Over here employer run pension plans are of two sorts - defined benefit and defined contribution. With a defined benefit plan one gets a pension which maxes out after 35 years service, at which point it is generally an annuity of 75% of the average of one's last five years earnings. Depending on the employer, employees may or may not have to contribute. With defined contribution you put in 5% of your salary and the employer matches it, and it is handled like a mutual fund. When you retire you can use the accrued amount to purchase an annuity of Life Income Fund. My University was defined contribution and, after the ages of 45 and 55, they more than matched my contributions. There was an element of defined benefit in that, if the plan did badly enough, there was a minimum guarantee at age 65 of an annuity equal to 70% of the average of the last five years. This never happened until 2008 (a bad year). We also had the choice on investing in equity and fixed income at 75-25, 50-50, or 25-75, plus the option of going with the committee's suggestions which tended to be 67-33 (balanced fund). Over the years equity has done about 25% better than the balanced fund.

In addition we can contribute to Registered Retirement Savings Plan, which like pension plans, are tax deductible. The revenue chaps allow a maximum annual contribution of pension and RRSP contributions combined. So if your employer does not have a pension plan you can put much more in an RRSP. Obviously pension plans are preferable since employers contribute as well. You can borrow against your RRSP to purchase a house but must pay it back just like a mortgage - the advantage over a mortgage is that it is interest free.

Certainly over here it is tremendously important to invest in any sort of pension plan, given the tax savings and future benefits, provided the funds are invested sensibly and not in high risk high return ventures like Icelandic banks.

It is indeed a very high rate of return. My financial advisor is a personal friend of our finance director at work and he specialises in managed funds of the high risk variety. Having worked abroad for a considerable time my pot (for the age I am) was tiny, and his advice was basically gamble 100% on high risk funds (which he recommended) and if it worked out, (which it did) to reduce down to medium/low risk as the pot grew. I gave him carte blanche, it costs me ~£200 a year, and he moves the money between the different Skandia funds.
To tell you the truth I've got no real idea how pensions work here other than that. My wife has a final salary teacher's pension and we were pinning our future on that tbh.

[Montreal Wanderer]

That is a very high rate of return, LLS. My investments with a financial advisor would not appear to do so well. I have had years of 25% and 15%, but 7-10% is more usual. In 2011 I actually lost 0.3% January to December (the stock market lost 11%), while this year I'm on track for about 10%, so only 5% per year. Given my age my investments are now more conservative than they were.

I don't think I understand UK pensions. Over here employer run pension plans are of two sorts - defined benefit and defined contribution. With a defined benefit plan one gets a pension which maxes out after 35 years service, at which point it is generally an annuity of 75% of the average of one's last five years earnings. Depending on the employer, employees may or may not have to contribute. With defined contribution you put in 5% of your salary and the employer matches it, and it is handled like a mutual fund. When you retire you can use the accrued amount to purchase an annuity of Life Income Fund. My University was defined contribution and, after the ages of 45 and 55, they more than matched my contributions. There was an element of defined benefit in that, if the plan did badly enough, there was a minimum guarantee at age 65 of an annuity equal to 70% of the average of the last five years. This never happened until 2008 (a bad year). We also had the choice on investing in equity and fixed income at 75-25, 50-50, or 25-75, plus the option of going with the committee's suggestions which tended to be 67-33 (balanced fund). Over the years equity has done about 25% better than the balanced fund.

In addition we can contribute to Registered Retirement Savings Plan, which like pension plans, are tax deductible. The revenue chaps allow a maximum annual contribution of pension and RRSP contributions combined. So if your employer does not have a pension plan you can put much more in an RRSP. Obviously pension plans are preferable since employers contribute as well. You can borrow against your RRSP to purchase a house but must pay it back just like a mortgage - the advantage over a mortgage is that it is interest free.

Certainly over here it is tremendously important to invest in any sort of pension plan, given the tax savings and future benefits, provided the funds are invested sensibly and not in high risk high return ventures like Icelandic banks.

It is indeed a very high rate of return. My financial advisor is a personal friend of our finance director at work and he specialises in managed funds of the high risk variety. Having worked abroad for a considerable time my pot (for the age I am) was tiny, and his advice was basically gamble 100% on high risk funds (which he recommended) and if it worked out, (which it did) to reduce down to medium/low risk as the pot grew. I gave him carte blanche, it costs me ~£200 a year, and he moves the money between the different Skandia funds.
To tell you the truth I've got no real idea how pensions work here other than that. My wife has a final salary teacher's pension and we were pinning our future on that tbh.

Pensions essentially work in two ways. You have a bunch of money at retirement which you can take as an annuity or put in some sort of life income fund. Most pension plans are simply an annuity - on retirement you get a certain amount paid monthly for the rest of your life, or a lesser amount if you go for a minimum period or joint survivor option. When you die, or your spouse dies, you lose all the money. Actuarially they will know that you'll die, on average, at, say, 76 years. If you live to 77 you are ahead of the game, earlier and you are a loser. If you are allowed a life income fund option you put the money into investments, either self managed or through a financial advisor. Invest wisely and you live off the income and when you die the residue, after taxes, goes to your heirs. So if you are single or have no children annuities make sense, if you want to leave something to the offspring go with a life income fund. Annuities are guaranteed while LIFs depend on the market. On the other hand in high inflation times annuities land you on a fixed income while LIFs go up with the market. So the whole thing is a personal choice. I'm guessing that your wife's pension will be an annuity type, so you should carry on chancing the market with your advisor. If he is really getting some 50% per year your 7500 will turn to a million before you know it. Doubling every two years has that effect.

[General Mannerheim]

Pensions live for the moment i say.

[Bruce Rioja]

The miserable fecking bastards. 58 in a 50.

[Lost Leopard Spot]

The miserable fecking bastards. 58 in a 50.

Oh dear. I'm back up to 6 fxcking points recently. Will they never learn.

[ohjimmyjimmy]

The miserable fecking bastards. 58 in a 50.

Can you take the naughty boys' course and get out of the points?

[Bruce Rioja]

The miserable fecking bastards. 58 in a 50.

Can you take the naughty boys' course and get out of the points?

Dunno yet, ohj, they've written to the company to ask who was driving at the time.

[Lost Leopard Spot]

The miserable fecking bastards. 58 in a 50.

Can you take the naughty boys' course and get out of the points?

Dunno yet, ohj, they've written to the company to ask who was driving at the time.

tell them it was Chris Huhne.

[thebish]

The miserable fecking bastards. 58 in a 50.

Can you take the naughty boys' course and get out of the points?

Dunno yet, ohj, they've written to the company to ask who was driving at the time.

tell them it was Chris Huhne.

[Bruce Rioja]

The miserable fecking bastards. 58 in a 50.

Can you take the naughty boys' course and get out of the points?

Dunno yet, ohj, they've written to the company to ask who was driving at the time.

tell them it was Chris Huhne.

[Hoboh]

The miserable fecking bastards. 58 in a 50.

My sympathy Brucie

Just watch out for someone poping up spouting the laws the law

[Lord Kangana]

When is tha law not the law?

[thebish]

The miserable fecking bastards. 58 in a 50.

My sympathy Brucie

Just watch out for someone poping up spouting the laws the law

that'd usually be you - Mr Law and Order!!!!

[bobo the clown]

When is tha law not the law?

When it's ajar ??

[Always hopeful]

When is tha law not the law?

When it's ajar ??

Or when it turns into a sidestreet?

[Verbal]

HALF A YEAR IN PRISON FOR HALTING A BOAT RACE FOR A FEW MINUTES

[bobo the clown]

HALF A YEAR IN PRISON FOR HALTING A BOAT RACE FOR A FEW MINUTES

yep.

Disgraceful.

Should have got at least 12 years.

Wanker (him. Not you).

[Always hopeful]

HALF A YEAR IN PRISON FOR HALTING A BOAT RACE FOR A FEW MINUTES

Ridiculous