Whats your income bracket

[J@mes]

no problem fella!

[leeds chimp]

personally me and the lass are on a very low income ...if we did not have a mortgage we would be better off on the dole BUT we are both happy with each other and the things we can afford when we have saved up makes us treasure and enjoy them move unlike my BIL and SIL who earn alot and always want the best materialistic things.

 

Does not bother me if someone earns more or less than me...its how they treat me and others that I care about....had a few "rich" people rub my nose in it in the past but I just laugh and smile as I know i am happy with myself and the way things are. I dont begrude people who earn more as 99% of the time they have worked hard to do this..including a friend I have known for 15 years who is a millionaire now due to working his **** off when the rest of us were falling out of pubs and clubs

[MM]

Is this a thread about finding out who much we earn?

[Cookiemonsterandmerlin.]

exactly, the thread just stinks of people who are either bitter or jealous of other peoples situations.

 

but at least some are happy with what they have, even if it isn't as much or as good as others!

 

 

I am not bitter myself of anybodys elses income or lifestyle I was inquiztive SPELLING of others PW members icomes bracket.

 

Due to some of my replies to another thread I started on charging for a days ferretting out with me,,and the charge I asked would of well and truly put me in the lower income bracket for that job if I perform if I could full time 5 days a week 52 weeks of the year which you cant ferret all year.

 

Cheers OTH

[RC45]

I read somewhere that only 10% earn more than £40k and 1% earn more than £100k... just thought I would share this!

[Dunkield]

The 10% figure is surprising if it is true, bearing in mind the UK average salary is now £25,543 [which 6 months ago was £28,207]

[Marcus]

Final Salary pensions and retired at 50.

One of the many reasons that this country is financially shafted.

Should get rid of them.

 

Very few in the force are fortunate enough to retire at 50 on a full pension. Yes they can retire at 50, but in reality most would struggle to get half of their salary paid as a pension at that age.

 

Your comments regarding FS pensions being the reason the country is financially shafted is well off the mark. There isn't one FS scheme (underfunded or otherwise) in the UK that has had any negative effect what so ever on the UK Economy.

Edited October 27, 2010 by Marcus

[scolopax]

I belive that in Norway you can get on the 'net and find what your neighbours, freinds etc earn, all public knowledge.

 

I earn decent money but the commodity that is really precious to me is the time off, I work two weeks offshore then get three weeks off.

[Cookiemonsterandmerlin.]

I belive that in Norway you can get on the 'net and find what your neighbours, freinds etc earn, all public knowledge.

 

I earn decent money but the commodity that is really precious to me is the time off, I work two weeks offshore then get three weeks off.

 

So roughly you work 140ish days of the year and have 225ish days off ,out of intrest are you also entitled to holidays on top of the 3 weeks off.

 

Cheers OTH

[al4x]

Very few in the force are fortunate enough to retire at 50 on a full pension. Yes they can retire at 50, but in reality most would struggle to get half of their salary paid as a pension at that age.

 

Your comments regarding FS pensions being the reason the country is financially shafted is well off the mark. There isn't one FS scheme (underfunded or otherwise) in the UK that has had any negative effect what so ever on the UK Economy.

 

 

so you're saying the country can afford to pay public sector workers 2/3 of their salary with no impact on public finances?

 

50 is only after 30 years service so you could be 48 or 60 depending when you joined. Its an interesting one and be interesting how long we can afford it for.

[jonesbach]

think we should stop it myself..know of a handful that took big retirement payout and then started up consultancy work etc and earn double what they used to...! so why do the public have to fund them on top?!!?

 

I dont earn anywhere near the "UK AVERAGE OF £25,543".....if i did i think id be more than happy!

[Dr W]

There isn't one FS scheme (underfunded or otherwise) in the UK that has had any negative effect what so ever on the UK Economy.

 

 

What about the pensions blackhole that is always being talked about and the reason the rest of us will now have to work till 66 - 70 (depending on when you actually get to retire) to help fill it.

 

With an ever aging population FS schemes will lead to a long term drain on the Uk Economy which cannot be supported by the working population without increasing taxes or increasing the retirement age. Far better to do away with them and people can have whatever they manage to save in their Personal Pension schemes during their lifetimes, at least this would encourage people to save.

[Marcus]

 

What about the pensions blackhole that is always being talked about and the reason the rest of us will now have to work till 66 - 70 (depending on when you actually get to retire) to help fill it.

 

With an ever aging population FS schemes will lead to a long term drain on the Uk Economy which cannot be supported by the working population without increasing taxes or increasing the retirement age. Far better to do away with them and people can have whatever they manage to save in their Personal Pension schemes during their lifetimes, at least this would encourage people to save.

 

No it wont. An aging population does put a strain on the State Pension. It has been a 'pay as you go' system for years and years and each government have failed to address it. Yes the State Pension costs a fortune and now the govenment is starting to address it.

 

The pensions 'blackhole' that is often talked about refers to retirement provision in general. We are talking DC schemes here and NOT DB schemes (Final Salary) As you will know those who participate in FS schemes pay a significantly higher percentage into the pension than those who contribute to say personal pensions. The blackhole then is the gap between what the nation should be saving and actually is into these DC schemes.

 

It could be argued that this 'blackhole' is looking better than it would be if we didnt have the FS schemes in place because the members probably would not pay anywhere near as much into a personal pension as they do to the FS scheme, and in some cases they wouldnt make any provision at all which would result in an even bigger blackhole.

 

So if you want someone to thank for this blackhole, its not FS schemes.

 

Its also worth noting that the government does not run, and is not accountable for EVERY FS scheme in the land, only its own.

 

If people have a choice generally they wont make provision for retirement or at best a very small one. So stopping FS schemes will not encourage people to save for retirement. The government tried to improve the savings gap by introducing Stakeholder Pensions, this did nothing, as again there was no compulsion to it. We we will have NEST in 2012. A good idea in theory, but it a few thorns especially for small businesses.

[Dr W]

I think our definitions of the pensions blackhole differ, my understanding is that it is the difference between what the state has to pay out in state pension schemes and what resources it has.

 

From the Telegraph website:

 

Workers will have to pay an extra £330 a year each in tax to help plug the growing black hole in the cost of public sector pensions, business leaders warned last night.

 

Taxpayers will have to provide about £100 billion a year because not enough funds are being put aside for the retirement schemes.

 

The total unfunded cost of all public sector pensions is estimated at £1 trillion

 

This is entirely the fault of the government's DB schemes.

 

DC pensions can't have a unfunded blackhole because you are using funds you have saved up and then use to buy an annuity, ok there is the gap in what people expect to have to live on and what their pension might actually provide but the funding for these schemes is what they have built up over their lives.

 

A DB pension has a blackhole because the country is using taxes from todays workers to pay the pensioners and not funds that it had already set aside.

 

A further problem with DB pensions is that you don't know how long some will live for so are difficult to estimate the funding required.

 

Part of the reason companies are closing DB schemes is that generally they are massively underfunded and the problem will only get worse as we live longer.

 

I wasn't aware that those on DB pensions paid in more than those on DC but if that is the case then they are not going to have enough to live on in their retirement. If people are stupid enought not to save for their retirement then they're going to have a pretty miserable time living on what's left of the state pension. The issue has to be to force people to save for their retirement but I guess that sounds like a tax and how is it any different to the current situation and what it should be providing.

Edited October 28, 2010 by Dr W

[Bleeh]

I don't need money.

 

Fit Girlfriend, and a raging libedo.

 

Doe season is about to come in, and one bit is littered with fallow.

 

Maybe I'll worry more when I get older.

[Sprackles]

I belive that in Norway you can get on the 'net and find what your neighbours, freinds etc earn, all public knowledge.

 

I earn decent money but the commodity that is really precious to me is the time off, I work two weeks offshore then get three weeks off.

 

Similar to my philosophy that.....my time off is the important factor in my work/life equation.

12 hour shift sytem but it works out like you, for every 14 working days, I get 21 rest days with the plant shutdown from noon christmas eve to 0001, 2nd January.

4 shifts on, 4 shifts off with a 10 day break after every 3rd lot of 4 work days.

[George1990]

I'm one of those students.

 

Not fussed how much I earn as long I'll have enough to have some enjoyment.

 

Will need to pay back my £25,000 student debt off though which may take a while...