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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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Posted: 10:26 - 03 Dec 2016 Post subject: Just got my auto-enroll pension through |
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What a fucking carry-on. This is a rant rather than a question but feel free to join me.
Notwithstanding that my boss unofficially muttered something two years ago about having to freeze pay in anticipation of this crap.
So I get a letter through the post from a company I've never heard of telling me I'm now a member of their pension scheme.
Thought I'd have a look into it. I start going through their registration to access the details of what the fuck is going on. Well, it's like the very worst account creation known to man. As well as my 8 figure password containing a cap, a number and a special character, they want 4 secret questions (from a specified list) my email address and my mobile phone number.
It was at this point I realised I don't trust this company enough to even give them my email address with the reasonable expectation they wont spam the shit out of it so why would I even consider giving them my money to look after?
I decided to opt out by phone. After about 10 minutes of automated call shit, it tells me I can only opt out between two certain dates and need to wait another 48 hours for the first one. The final, automated opting out process took about 20 minutes.
The final kick up the arse was a statement to the effect that I'll be opted back in again in three years regardless of what I do.
The entire thing has made my unbelievably angry. This totally unknown to me (and therefore untrusted) company now has a huge chunk of my identity details on their database. So full name, home address, place of work, date of birth, salary information, payroll number and national insurance number.
I bet it doesn't get deleted from their database because I opted out. I simply don't give out that degree of information about myself to unknown third parties so what the fuck gives the government the right to compell my employer to do so on my behalf?
I'm currently waiting for the avalanche of pension related junk mail.
Also now need to have a bit of a chat with my boss on the subject of pay rises and the recent lack thereof. I garauntee he wont be the only employer to have done this (he's just not as good about keeping quiet about it). ____________________ “Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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Suntan Sid |
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Suntan Sid World Chat Champion
Joined: 07 May 2009 Karma :
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Posted: 12:46 - 03 Dec 2016 Post subject: |
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Juat be thankful you don't have to deal with utter fuknuggets that claim to deal with student loans/finance!
Can you make a complaint to the data commissioner/tzar/ombudsman or whatever they're called?
Over at pepipoo, people are managing to extract money from PPC's who illegally access their details and/or retain the details unlawfully, £750 seems to be the going rate! ____________________ "Everybody needs money, that's why they call it money!" |
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
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Posted: 14:09 - 03 Dec 2016 Post subject: |
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That's why I opted out. Fuck them.
Your boss sounds like a tight arse. We still get our payrises whether we opt in or out. ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
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janner_10 |
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janner_10 World Chat Champion
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thepuma |
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thepuma World Chat Champion
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JonB |
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JonB Afraid of Mileage
Joined: 03 Jun 2004 Karma :
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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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Posted: 13:22 - 04 Dec 2016 Post subject: |
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Don't get me wrong. I could have done nothing at all and they would have paid whatever the minimum percentage of my wages they have to into it and matched that payment without me lifting a finger. It's what most people will do, then it'll come as a shock to them that they, as Roger says, have just enough to avoid any government help come retiring age. The rigmarole was in me wanting to do anything to control it.
I think it'll also come as a shock to many when they see how much this scheme ramps up over the next few years. I stand to lose £1500 off the top of my pay in 2019
I have zero confidence that any of these pension schemes will actually deliver a worthwhile pension at the end of the day. My Dad retired with a classic private pension scheme and said he may as well not have bothered. Luckily he made enough to retire on from the sale of his business and his financial advisor bumped the pot into other investment vehicles without converting it to cash.
Did anyone ask at these "meetings" with the pension companies about how much their admin charges are and what charges/ability exist to transferr money into a different pension scheme if their one doesn't seem to be performing? They are pretty much unaccountable for this. They do what they like and as long as they make it easy for the employers, most members wont bother even looking at it
I also think the government will find a way to tax it somehow.
To say employers haven't been holding a brake on pay is pretty naiive. They knew this was coming and knew they would have to budget for it and WILL have allowed for it as part of their payroll budgeting. As I said, most employers aren't so crass as to admit to their staff that they've been keeping a lid on pay (or recruitment) for the last three years.
So. My conclusion is, the amount my employer "matches" my contribution by is money that's been witheld from cost of living wage increases on the run up to implementation. I KNOW employers have been doing this and I KNOW it's not just my one. If I was running a small business, I'd have done the same (I just wouldn't blab about it to my employees).
It would cost my employer about three hundred this year but in three years it'll be a closer to a thousand (and £1500 off my top line too). Anyone who thinks employers aren't holding out on pay to cover this should take a long hard think about where they think it IS coming from. ____________________ “Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles. |
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
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Posted: 15:51 - 04 Dec 2016 Post subject: |
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We're probably lucky in that our business has plenty in the margins to cover this. And also that almost all of us mere mortals have opted out, as we didn't see the benefit. The firm would pay in the minimum required, and it's not worthwhile.
Anything that the Gov says will help, chances are will only help them. ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
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thepuma |
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thepuma World Chat Champion
Joined: 16 Jul 2012 Karma :
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- Super Spammer
Joined: 22 Oct 2013 Karma :
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Posted: 17:38 - 04 Dec 2016 Post subject: |
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Jewlio Rides Again wrote: | We're probably lucky in that our business has plenty in the margins to cover this. And also that almost all of us mere mortals have opted out, as we didn't see the benefit. The firm would pay in the minimum required, and it's not worthwhile.
Anything that the Gov says will help, chances are will only help them. |
I think it's a necessary idea. A lot of people I talk to have no pension or plan after retirement, even people in their 40's.
Maybe with life on long term benefits not looking too bad, many people think retirement will be similar. From what I've seen, the state pension is pants and pensioners still have to pay many things that professional "job seekers" don't, such as council tax.
I've had a private pension since I was 20. It started off as only a small monthly payment, but increases 10% a year. By the time I retire payments will be quite a bit, however I'll only be looking at around £500 a month from it, even having paid into it for almost 50 years.
I have a friend who will retire on a final salary pension in the next 2 years at 60. He's works in Rail H&S, so not even public sector anymore. The difference in retirement wealth is going to change dramatically over the next 15-20 years - this government plan is at least trying to make more people responsible for their won welfare in retirement. ____________________ TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
Joined: 06 Oct 2015 Karma :
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Posted: 19:23 - 04 Dec 2016 Post subject: |
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mpd72 wrote: |
I think it's a necessary idea. A lot of people I talk to have no pension or plan after retirement, even people in their 40's.
Maybe with life on long term benefits not looking too bad, many people think retirement will be similar. From what I've seen, the state pension is pants and pensioners still have to pay many things that professional "job seekers" don't, such as council tax.
I've had a private pension since I was 20. It started off as only a small monthly payment, but increases 10% a year. By the time I retire payments will be quite a bit, however I'll only be looking at around £500 a month from it, even having paid into it for almost 50 years.
I have a friend who will retire on a final salary pension in the next 2 years at 60. He's works in Rail H&S, so not even public sector anymore. The difference in retirement wealth is going to change dramatically over the next 15-20 years - this government plan is at least trying to make more people responsible for their won welfare in retirement. |
It may well be a necessary idea, and ten years ago I was paying into a private pension. Then one thing and another happened, had to stop making the payments, and in the inbetween bit I realised the less you have come the end of your period, the better.
My maternal grandparents worked hard, saved, bought their house. When my grandfather ended up with Alzheimers, they were after making my nan sell the home they'd lived in for ~40 years, to pay for his care.
My paternal grandmother also worked all her life, but never saved, never bought a house, or nothing like that. She ended up in a care home too, that those who had worked all their lives, saved, had a house etc. had to pay £500+ a week for the privilege of.
Why should I scrimp and save while working, to have it all taken at the end of it? I'd rather enjoy my life now, and if the worst comes to it, I'll just not pay my council tax and get thrown into a prison for 3 square meals a day and a roof over my head ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
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- Super Spammer
Joined: 22 Oct 2013 Karma :
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Posted: 19:38 - 04 Dec 2016 Post subject: |
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Jewlio Rides Again wrote: | mpd72 wrote: |
I think it's a necessary idea. A lot of people I talk to have no pension or plan after retirement, even people in their 40's.
Maybe with life on long term benefits not looking too bad, many people think retirement will be similar. From what I've seen, the state pension is pants and pensioners still have to pay many things that professional "job seekers" don't, such as council tax.
I've had a private pension since I was 20. It started off as only a small monthly payment, but increases 10% a year. By the time I retire payments will be quite a bit, however I'll only be looking at around £500 a month from it, even having paid into it for almost 50 years.
I have a friend who will retire on a final salary pension in the next 2 years at 60. He's works in Rail H&S, so not even public sector anymore. The difference in retirement wealth is going to change dramatically over the next 15-20 years - this government plan is at least trying to make more people responsible for their won welfare in retirement. |
It may well be a necessary idea, and ten years ago I was paying into a private pension. Then one thing and another happened, had to stop making the payments, and in the inbetween bit I realised the less you have come the end of your period, the better.
My maternal grandparents worked hard, saved, bought their house. When my grandfather ended up with Alzheimers, they were after making my nan sell the home they'd lived in for ~40 years, to pay for his care.
My paternal grandmother also worked all her life, but never saved, never bought a house, or nothing like that. She ended up in a care home too, that those who had worked all their lives, saved, had a house etc. had to pay £500+ a week for the privilege of.
Why should I scrimp and save while working, to have it all taken at the end of it? I'd rather enjoy my life now, and if the worst comes to it, I'll just not pay my council tax and get thrown into a prison for 3 square meals a day and a roof over my head |
Because with an aging population and people living longer, tax payers won't be able to afford you much of a standard of living.
What seems to be changing is that family used to look after their elderly, now people put them out to pasture in granny farms and expect the state to pick up the bill. ____________________ TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
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Derivative |
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Derivative World Chat Champion
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 14:39 - 18 Dec 2016 Post subject: |
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Reality check: only some people can retire and live off of the work of others. It's not money, it's goods and services produced versus goods and services consumed. You can't eat numbers, or build a house from them.
The economy is going to increasingly reflect that. The State pension will be inadequate. The numbers won't matter, the cost of living will rise faster than whatever fantasy fiat amount is handed out. More and more geezers will have to keep working in order to keep living.
We will be competing with each other to be in the fortunate minority who can afford to live indolently. So please, don't save. Just give up, and hope something will turn up. I look forward to you emptying my bins when you're 80. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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M.C |
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M.C Super Spammer
Joined: 29 Sep 2015 Karma :
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
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Posted: 16:45 - 18 Dec 2016 Post subject: |
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Carries over to the next one apparently. ____________________ Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
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M.C |
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M.C Super Spammer
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carvell |
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carvell Scuttler
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M.C |
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M.C Super Spammer
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Posted: 00:56 - 19 Dec 2016 Post subject: |
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From what I've read these pensions might not be very good, that's something to look forward to |
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smegballs |
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smegballs World Chat Champion
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stinkwheel |
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stinkwheel Bovine Proctologist
Joined: 12 Jul 2004 Karma :
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chris-red |
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chris-red Have you considered a TDM?
Joined: 21 Sep 2005 Karma :
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Posted: 18:17 - 20 Dec 2016 Post subject: |
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10% non-contributory ____________________ Well, you know what they say. If you want to save the world, you have to push a few old ladies down the stairs.
Skudd:- Perhaps she just thinks you are a window licker and is being nice just in case she becomes another Jill Dando.
WANTED:- Fujinon (Fuji) M42 (Screw on) lenses, let me know if you have anything. |
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
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Im-a-Ridah |
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Im-a-Ridah World Chat Champion
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Old Thread Alert!
The last post was made 7 years, 100 days ago. Instead of replying here, would creating a new thread be more useful? |
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