Brexit Retirement Pension Effect

[KonaRain]

Pat nails it as usual. Of course I'm disappointed with the pound, but there were bigger issues than how many beers I can buy in a week

BBC new study..

Beer makes Man Boobs..

Hops contain estrogen..

Much more than soy...I drink lots of soymilk, no boobs.

Aloha

[pegman]

Boris is the new Brexit sales force..

He'll drive a good bargin..

Well, I give you he will make the £ a great bargain!

[sandyf]

Boris is the new Brexit sales force..

He'll drive a good bargin..

Clever move, keep your enemies close, he was only after the PM job. Every chance he will screw up and she can sack him without any comeback.

[billd766]

There have been lots of unequivocal statements made in this thread, and others discussion the referendum result.

They are going to make interesting reading in a couple of years time.

i wonder how the resident musqe i mean brexiteers will feel when in 2023 a Brussels appointed EU viceroy resides in London approving or rejecting sharia rulings.

First he will need to be qualified and then have a work permit.

[billd766]

They can still qualify using the combination method.

For example, pension of 600K plus Thai bank account of 200K meets the requirement.

UK state pension is nowhere near Baht 600k.

Therefore a person only receiving that income,never used the pension income method alone.

Many of us don't rely on the state pension alone but with forethought and damned hard work there are also people with second and 3rd pensions.

I am one of them.

[dick dasterdly]

They can still qualify using the combination method.

For example, pension of 600K plus Thai bank account of 200K meets the requirement.

UK state pension is nowhere near Baht 600k.

Therefore a person only receiving that income,never used the pension income method alone.

Many of us don't rely on the state pension alone but with forethought and damned hard work there are also people with second and 3rd pensions.

I am one of them.

It has nothing to do with 'damned hard work'. Some of us were lucky enough to enjoy good company pensions, and were able to take advantage of that once we hit 55.

I too am lucky enough to be entitled to a good widow's pension plus an AVC. Once I'm 60 I can claim another company pension.

In short, we were just lucky to have worked during the period when there were good company pensions.

[Caspersfriend]

Many of us don't rely on the state pension alone but with forethought and damned hard work there are also people with second and 3rd pensions.

I am one of them.

It has nothing to do with 'damned hard work'. Some of us were lucky enough to enjoy good company pensions, and were able to take advantage of that once we hit 55.

I too am lucky enough to be entitled to a good widow's pension plus an AVC. Once I'm 60 I can claim another company pension.

In short, we were just lucky to have worked during the period when there were good company pensions.

Hard work can be a contributing factor, but agree that company pensions can outweigh even that. 'We' are possibly the last generation to benefit from them, the current and next generation will need to rely on their own plans and take any Government pensions that still exist as merely a bonus.

'Luck' or 'forethought'? Bad marriages and corrupt business partners/owners - these can also have considerable effect however hard you plan and work; and often 20/20 vision only occurs in the rear view mirror.

Although the GBP/USD rate is steadily creeping it's way upwards, as I write this the GBP/THB is on a rollercoaster; maybe due to Asian market activity as the West is still sleeping/just stirring..

[dick dasterdly]

Many of us don't rely on the state pension alone but with forethought and damned hard work there are also people with second and 3rd pensions.

I am one of them.

It has nothing to do with 'damned hard work'. Some of us were lucky enough to enjoy good company pensions, and were able to take advantage of that once we hit 55.

I too am lucky enough to be entitled to a good widow's pension plus an AVC. Once I'm 60 I can claim another company pension.

In short, we were just lucky to have worked during the period when there were good company pensions.

Hard work can be a contributing factor, but agree that company pensions can outweigh even that. 'We' are possibly the last generation to benefit from them, the current and next generation will need to rely on their own plans and take any Government pensions that still exist as merely a bonus.

'Luck' or 'forethought'? Bad marriages and corrupt business partners/owners - these can also have considerable effect however hard you plan and work; and often 20/20 vision only occurs in the rear view mirror.

Although the GBP/USD rate is steadily creeping it's way upwards, as I write this the GBP/THB is on a rollercoaster; maybe due to Asian market activity as the West is still sleeping/just stirring..

I feel v sorry for the workforce nowadays, since good company pensions have disappeared and employees are reliant on unscrupulous savings companies. A bit like the old endowment schemes....

Its sad to see the current work force blaming those with reasonable schemes (local authority workers) rather than their own companies and the government for allowing this to happen .

Edited July 15, 2016 by dick dasterdly

[i claudius]

They can still qualify using the combination method.

For example, pension of 600K plus Thai bank account of 200K meets the requirement.

UK state pension is nowhere near Baht 600k.

Therefore a person only receiving that income,never used the pension income method alone.

Many of us don't rely on the state pension alone but with forethought and damned hard work there are also people with second and 3rd pensions.

I am one of them.

Some people have rich family and a Thai wife that earns very good money and also has quite well off family .

i am one of them

[nausea]

Yeah, it's mostly luck. Hard work helps. Not being stupid helps. I agree with the former poster Caspersfriend, life takes you down many paths. Of course you could just join the Civil Service or something, and have your life mapped out, a bit boring though.

[nausea]

Well, good for you i claudius. I would, personally, find that situation rather claustrophobic. Still, horses for courses. I'm assuming you're not a Troll.

[mcfish]

They can still qualify using the combination method.

For example, pension of 600K plus Thai bank account of 200K meets the requirement.

UK state pension is nowhere near Baht 600k.

Therefore a person only receiving that income,never used the pension income method alone.

Many of us don't rely on the state pension alone but with forethought and damned hard work there are also people with second and 3rd pensions.

I am one of them.

Some people have rich family and a Thai wife that earns very good money and also has quite well off family .

i am one of them

Many of us have wives that provide us with 1 million baht/month allowances. i thought it was normal and all farang were on a similar deal but apparently its not

[MrMuddle]

As an American- I want to see the Pound recover because it affects so many British expats who have set down homes and families overseas-especially those on fixed incomes. No one should be happy at another person's suffering.

Thank you.

It is very seldom that we read anything on TVF that comes near to the generosity of spirit expressed in the above quote.

I agree - one of the reasons I don't use ThaiVisa very much, is because of the negative attitude of so many posters on here.

[MissAndry]

In short, we were just lucky to have worked during the period when there were good company pensions.

I was lucky my husband (former) worked in the period when there were good company pensions.

[i claudius]

Well, good for you i claudius. I would, personally, find that situation rather claustrophobic. Still, horses for courses. I'm assuming you're not a Troll.

No not a troll, and in life I have been very lucky, also I found that the harder I worked the luckier I was.

[GuestHouse]

Well, good for you i claudius. I would, personally, find that situation rather claustrophobic. Still, horses for courses. I'm assuming you're not a Troll.

No not a troll, and in life I have been very lucky, also I found that the harder I worked the luckier I was.

From what you tell us, the harder your wife works the luckier you get.

[Naam]

Many of us have wives that provide us with 1 million baht/month allowances. i thought it was normal and all farang were on a similar deal but apparently its not

i always had a feeling that there's something fishy with my wife's claim that she can't afford to increase my monthly allowance above 750k Baht

[i claudius]

Well, good for you i claudius. I would, personally, find that situation rather claustrophobic. Still, horses for courses. I'm assuming you're not a Troll.

No not a troll, and in life I have been very lucky, also I found that the harder I worked the luckier I was.

From what you tell us, the harder your wife works the luckier you get.

Well I had to work bloody hard to find a wife that was good at business and who had a family that were not poorB) Edited July 16, 2016 by i claudius

[Ricardo]

Many of us have wives that provide us with 1 million baht/month allowances. i thought it was normal and all farang were on a similar deal but apparently its not

i always had a feeling that there's something fishy with my wife's claim that she can't afford to increase my monthly allowance above 750k Baht

Clearly she is fiscally prudent, luckily she's not related to any Finance Ministers, or she'd be borrowing a billion to give you two billion in spending-money !

[GuestHouse]

Well, good for you i claudius. I would, personally, find that situation rather claustrophobic. Still, horses for courses. I'm assuming you're not a Troll.

No not a troll, and in life I have been very lucky, also I found that the harder I worked the luckier I was.

From what you tell us, the harder your wife works the luckier you get.

Well I had to work bloody hard to find a wife that was good at business and who had a family that were not poorB)

So long as you keep in mind the game's not over until the whistle is blown you should be fine.

But as the ancient Greeks observed, there is no greater offence to the fates than hubris.

[dick dasterdly]

Brit. company pensions were destroyed a long time ago.

I can't remember when it started, but there were employer contribution holidays/employers reducing their schemes/employees having to save with pensions savings companies (that paid out v poorly compared to other companies in the EU) etc. etc.

Brexit is only relevant when it comes to exchange rates.

Edit - other wealthy EU country companies paid out far better private savings pension rates, but the EU did little about this IIRC.

Edited July 17, 2016 by dick dasterdly

[sandyf]

Brit. company pensions were destroyed a long time ago.

I can't remember when it started, but there were employer contribution holidays/employers reducing their schemes/employees having to save with pensions savings companies (that paid out v poorly compared to other companies in the EU) etc. etc.

Brexit is only relevant when it comes to exchange rates.

Edit - other wealthy EU country companies paid out far better private savings pension rates, but the EU did little about this IIRC.

Not quite that simple.

For example 2 of the major property developers have lost over 25% of share value as a result of Brexit. Share portfolios are a major part pf pension plans.

[Orac]

Brit. company pensions were destroyed a long time ago.

I can't remember when it started, but there were employer contribution holidays/employers reducing their schemes/employees having to save with pensions savings companies (that paid out v poorly compared to other companies in the EU) etc. etc.

Brexit is only relevant when it comes to exchange rates.

Edit - other wealthy EU country companies paid out far better private savings pension rates, but the EU did little about this IIRC.

Not quite that simple.

For example 2 of the major property developers have lost over 25% of share value as a result of Brexit. Share portfolios are a major part pf pension plans.

Also the general effect Brexit may have on the economy over the next few years. Bond yields have dropped and annuities are still very low putting pressure on companies to top up pension funds at a time when businesses themselves are under pressure.

[dick dasterdly]

Brit. company pensions were destroyed a long time ago.

I can't remember when it started, but there were employer contribution holidays/employers reducing their schemes/employees having to save with pensions savings companies (that paid out v poorly compared to other companies in the EU) etc. etc.

Brexit is only relevant when it comes to exchange rates.

Edit - other wealthy EU country companies paid out far better private savings pension rates, but the EU did little about this IIRC.

Not quite that simple.

For example 2 of the major property developers have lost over 25% of share value as a result of Brexit. Share portfolios are a major part pf pension plans.

Deleted post as I'm not sure what this has to do with the point I made?

Edited July 19, 2016 by dick dasterdly

[dick dasterdly]

Brit. company pensions were destroyed a long time ago.

I can't remember when it started, but there were employer contribution holidays/employers reducing their schemes/employees having to save with pensions savings companies (that paid out v poorly compared to other companies in the EU) etc. etc.

Brexit is only relevant when it comes to exchange rates.

Edit - other wealthy EU country companies paid out far better private savings pension rates, but the EU did little about this IIRC.

Not quite that simple.

For example 2 of the major property developers have lost over 25% of share value as a result of Brexit. Share portfolios are a major part pf pension plans.

Also the general effect Brexit may have on the economy over the next few years. Bond yields have dropped and annuities are still very low putting pressure on companies to top up pension funds at a time when businesses themselves are under pressure.

Yes, I'm sure those few large companies offering a relatively decent pension scheme (nothing like the 2/thirds, non contributory pension scheme I enjoyed whilst I was employed in that company) - will use brexit an excuse to reduce any schemes further.....

Edited July 19, 2016 by dick dasterdly

[rickudon]

Actually, there is an issue as to whether your pension fund will still exist. Lack lustre Share performance, even lower interest rates and bond yields (exacerbated by Brexit) mean that most companies are struggling to make up pension fund deficits. One program reckons that there are 6000 funds in deficit and 1000 in danger of being wound up if there is a recession. They will then depend on the lifeboat fund - but this has only a couple of billion in it. How safe is your pension?

[Oxx]

Actually, there is an issue as to whether your pension fund will still exist. Lack lustre Share performance...

Perhaps you've missed the point that the S&P 500 has just closed at a record, all time high. Lacklustre share performance? Methinks not. The FTSE 100 is also doing pretty well, and is at its highest level since August last year

[rickudon]

Oxx, we are talking long term here. The Ftse 100 hasn't gone up in 15 years. Well, it has gone up, but also down. in 2000 it was higher, went down, back up in 2008, went down, back up in 2014, down again a bit. Still lower than in 2000. It has been a lousy investment this century unless you bought in when low. My savings grew by over 50% during the same period, my shares (thankfully few) has made very little, even allowing for dividends. Same problem for those pension funds. BT has a 10.6 BILLION pound deficit in there fund, that's over 30,000 pounds per member. And that is a typical example.

The increase in the stock market (by about 5-7%) post referendum was a reaction to the pound falling by 10% or more. Likewise the rise in share prices this past week is because the pound has fallen by nearly 2% - bumping along close to a new low. When the FTSE 100 hits 8000, or the pound 50 baht, let me know. I'm not expecting a call soon.

[Oxx]

Oxx, we are talking long term here. The Ftse 100 hasn't gone up in 15 years. Well, it has gone up, but also down. in 2000 it was higher, went down, back up in 2008, went down, back up in 2014, down again a bit. Still lower than in 2000. It has been a lousy investment this century unless you bought in when low.

The FTSE 100 has done much better than you're suggesting. I haven't been able to find a full history of the FTSE 100 TR Index. This graph is the best I can find. It misses the last year and a half:

So, over 13 years £8,000 invested in the FTSE 100 (end 2001) with dividends reinvested would have turned into £18,000 (end 2014) - a total return of 125%. Not too shabby, and rather better than your cash savings, methinks.

[Naam]

Oxx, we are talking long term here. The Ftse 100 hasn't gone up in 15 years. Well, it has gone up, but also down. in 2000 it was higher, went down, back up in 2008, went down, back up in 2014, down again a bit. Still lower than in 2000. It has been a lousy investment this century unless you bought in when low.

The FTSE 100 has done much better than you're suggesting. I haven't been able to find a full history of the FTSE 100 TR Index. This graph is the best I can find. It misses the last year and a half:

So, over 13 years £8,000 invested in the FTSE 100 (end 2001) with dividends reinvested would have turned into £18,000 (end 2014) - a total return of 125%. Not too shabby, and rather better than your cash savings, methinks.

the 125% are actually an annualised yield of 6.45% (8000*1.0645^13) = nothing to rave about.

investing in 100% safe UK gilts would have resulted in an annualised yield exceeding 7.5% assuming coupon payments were reinvested as were FTSE dividends.

i apologise for being a pain in the àrse