What's your views on AESOPs and SAYE schemes?
I pay £30 a month into an AESOP and my employer matches it. £60 of company shares per month, for £30. BOOM.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:26, 2 replies, latest was 11 years ago)

any deal where you get free money is a good one
Total no brainer. You have a DB pension, right?
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:28, Reply)

Long story. Started off as final salary, non-contributory, when I joined 20 years ago.
Then they capped the pensionable salary increases to 2% p.a. Now they've fucked that altogether and my final pensionable salary will be what I'm on NOW.

As a half-arsed apology for that, they're giving us a 3% bonus in Nov which I can either put in as an AVC or take as cash. Obviously I'm doing the former.

Cunts.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:32, Reply)

still, DB schemes are extremely generous.
Most annuity clients don't take escalation as an option because the starting income is so low. Your pension will have automatic increases, that's where the value is.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:34, Reply)

Does it? I haven't a fucking clue to be honest.
Will probably look at setting up some AVCs as well I think.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:38, Reply)

very likely will.
Usually RPI.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:39, Reply)

That's something at least.
But it pisses me off immensely that in my remaining career my salary could potentially double and it would have 0 impact on my pension.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:44, Reply)

Plus I work from home, so stealing office stationary to supplement my income isn't really much of an option.

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:45, Reply)

then start saving to a separate private pension.

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:45, Reply)

Would that be better than putting AVCs into my current one?

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:47, Reply)

depends, I don't know the scheme details

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:48, Reply)

They are fabled for their returns

(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 14:43, Reply)

I've got a SAYE scheme on the go at the moment
I can buy company shares at 40p in 2016, which are currently worth nearly twice that.

If the price was to plummet in the meantime, I can just take the money back out, with a bonus. Can't lose.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:46, Reply)

depends on the funds mate, if you stuck everything in a single fund and it underperformed then tough shit.
At my last place, our balanced aggressive portfolio had done 66% over the previous 5 years and 17% over the previous 12 months.

If yours has done badly then you had a shit adviser.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:47, Reply)

You really are a tortoise

(Bonzodog29 is an unemployed sponge of the worst kind, Wed 20 Aug 2014, 14:53, Reply)