You Boys in Green Homepage YBIG Shop
Forum Home Forum Home : Other Forums : Whatever!
  New Posts New Posts RSS Feed - Pensions
  FAQ FAQ  Forum Search   Events   Register Register  Login Login

Pensions
 Post Reply Post Reply Page  <12345 9>
Author
Message
  Topic Search Topic Search  Topic Options Topic Options
Newryrep View Drop Down
Paul McGrath
Paul McGrath
Avatar
Just can't get enough of lists

Joined: 14 Jan 2009
Status: Offline
Points: 15256 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Newryrep Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 7:32pm
a few years ago I was at a pension presentation and the woman asked the question ‘what is the average life expectancy after you retire ? ‘ most people said 10 15 years etc she said 3 Shocked

Mightn’t be that bad starting to think about it myself

Worse case scenario is your health deteriorates and you can’t ‘enjoy ‘ your retirement 
'Irish' Songs for an Irish team - no SPL EPL generic sh*te
Richard Dunne - 6th Sept 11 - best marshalling of a defence in Moscow since General Zukov Russia V Germany 1941
Back to Top
Baldrick View Drop Down
Robbie Keane
Robbie Keane
Avatar
Peyton-tly Pedantic

Joined: 18 Sep 2008
Location: Ireland
Status: Offline
Points: 32775 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Baldrick Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 7:58pm
Originally posted by Newryrep Newryrep wrote:

a few years ago I was at a pension presentation and the woman asked the question ‘what is the average life expectancy after you retire ? ‘ most people said 10 15 years etc she said 3 Shocked

Mightn’t be that bad starting to think about it myself

Worse case scenario is your health deteriorates and you can’t ‘enjoy ‘ your retirement 

How did she work that one out.  The average age people die at in ireland is 82 that takes into account all the people who die young etc.   So if you retire there is a good chance you will have another 17 before you die and

Wouldnt be taking advice from her
AKA pedantic kunt
Back to Top
Flanno7hi View Drop Down
Liam Brady
Liam Brady
Avatar

Joined: 26 Jul 2010
Location: Chester
Status: Offline
Points: 2614 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Flanno7hi Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:03pm
Originally posted by Baldrick Baldrick wrote:

Originally posted by Newryrep Newryrep wrote:

a few years ago I was at a pension presentation and the woman asked the question ‘what is the average life expectancy after you retire ? ‘ most people said 10 15 years etc she said 3 Shocked

Mightn’t be that bad starting to think about it myself

Worse case scenario is your health deteriorates and you can’t ‘enjoy ‘ your retirement 

How did she work that one out.  The average age people die at in ireland is 82 that takes into account all the people who die young etc.   So if you retire there is a good chance you will have another 17 before you die and

Wouldnt be taking advice from her
 
I'd say she was talking about the life expectancies when the original state pension age was set. I think in the UK it was 65. 
Our City. Our Community. Our Club
IG @flanno_7hi
Back to Top
Shedite View Drop Down
Jack Charlton
Jack Charlton
Avatar

Joined: 09 Dec 2011
Status: Offline
Points: 9819 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:09pm
Originally posted by Jackal Jackal wrote:

Originally posted by Baldrick Baldrick wrote:

what do you think a person who doesn’t have the necessary contributions should get per week when they hit 65/67/68
I would be of the opinion that it should not match someone with full contributions. Perhaps stay the way it is but have the person with the full rate getting 300 a week. You'd have to take things into account though like disability, child rearing etc, both of which I think should be worth a stamp.
The Old age pensions isn't really designed to fund a lifestyle, it's basically menat as a safety net. Anyone who's lived on unemployment for any period of time knows it's not much. You can rationalise it in your head to live on 230 a week but eventually something unexpected goes wrong and you need more. 

I think some of the pension companies oversell the idea that you should have 50%-66% of final salary, assumeing you have mortgage paid off and kids are self-funding at that stage, but you'd still want a bit of your own fund.
Back to Top
Shedite View Drop Down
Jack Charlton
Jack Charlton
Avatar

Joined: 09 Dec 2011
Status: Offline
Points: 9819 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:12pm
Originally posted by MayoMark MayoMark wrote:

Do ye think the state pension will still exist in 30/40 years? Have heard a lot that because the proportion of pensioners then will be so high that it is possible there will be no pension, or it will be extremely small 
Pensions are actually a fairly new phenomenon, only came into existance in the middle of last century (before that people basically worked till they died). Up to recently we had the defined benefit idea, now that's evolved to defined contribution, so I suspect by the time we retire it will have evolved into something else. They'll find some way to make sure pensioners don't all die of hunger and cold, but I wouldn't be expecting many enjoying retirement on state pension.
Back to Top
Shedite View Drop Down
Jack Charlton
Jack Charlton
Avatar

Joined: 09 Dec 2011
Status: Offline
Points: 9819 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:13pm
Originally posted by Newryrep Newryrep wrote:

a few years ago I was at a pension presentation and the woman asked the question ‘what is the average life expectancy after you retire ? ‘ most people said 10 15 years etc she said 3 Shocked

Mightn’t be that bad starting to think about it myself

Worse case scenario is your health deteriorates and you can’t ‘enjoy ‘ your retirement 
I think annuity rates at the moment seem to work off about 13 years as the assumption
Back to Top
Baldrick View Drop Down
Robbie Keane
Robbie Keane
Avatar
Peyton-tly Pedantic

Joined: 18 Sep 2008
Location: Ireland
Status: Offline
Points: 32775 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Baldrick Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:13pm
Originally posted by Flanno7hi Flanno7hi wrote:

Originally posted by Baldrick Baldrick wrote:

Originally posted by Newryrep Newryrep wrote:

a few years ago I was at a pension presentation and the woman asked the question ‘what is the average life expectancy after you retire ? ‘ most people said 10 15 years etc she said 3 Shocked

Mightn’t be that bad starting to think about it myself

Worse case scenario is your health deteriorates and you can’t ‘enjoy ‘ your retirement 

How did she work that one out.  The average age people die at in ireland is 82 that takes into account all the people who die young etc.   So if you retire there is a good chance you will have another 17 before you die and

Wouldnt be taking advice from her
 
I'd say she was talking about the life expectancies when the original state pension age was set. I think in the UK it was 65. 

Either way it's a  bit if bullsh*t info. was she trying to put people off getting a pension 😀 
AKA pedantic kunt
Back to Top
Newryrep View Drop Down
Paul McGrath
Paul McGrath
Avatar
Just can't get enough of lists

Joined: 14 Jan 2009
Status: Offline
Points: 15256 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Newryrep Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:17pm
Thought it was low myself but tbh  I will likely drop dead still at work 
'Irish' Songs for an Irish team - no SPL EPL generic sh*te
Richard Dunne - 6th Sept 11 - best marshalling of a defence in Moscow since General Zukov Russia V Germany 1941
Back to Top
Sham157 View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 17 Jul 2009
Location: Monaghan/Dublin
Status: Offline
Points: 33209 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Sham157 Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:26pm
Oops, misread the title, as you were gents..
Back to Top
Claret Murph View Drop Down
Paul McGrath
Paul McGrath
Avatar
Hmmm, Goodness, I must say

Joined: 16 Apr 2009
Location: Tibet
Status: Offline
Points: 15740 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Claret Murph Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:28pm
Originally posted by Sham157 Sham157 wrote:

Oops, misread the title, as you were gents..
LOL
Lansdowne Road debut aged 52 and 201 days .
Back to Top
Baldrick View Drop Down
Robbie Keane
Robbie Keane
Avatar
Peyton-tly Pedantic

Joined: 18 Sep 2008
Location: Ireland
Status: Offline
Points: 32775 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Baldrick Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:29pm
Originally posted by Newryrep Newryrep wrote:

Thought it was low myself but tbh  I will likely drop dead still at work 

The target should be some of the lads on the away trips.  Longer retired than they were working Tongue


Edited by Baldrick - 23 Nov 2020 at 8:33pm
AKA pedantic kunt
Back to Top
Newryrep View Drop Down
Paul McGrath
Paul McGrath
Avatar
Just can't get enough of lists

Joined: 14 Jan 2009
Status: Offline
Points: 15256 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Newryrep Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 8:32pm
Originally posted by Baldrick Baldrick wrote:

Originally posted by Newryrep Newryrep wrote:

Thought it was low myself but tbh  I will likely drop dead still at work 

The target should be some of the lads on the away trips.  Long retired than they were working Tongue

That boat has long sailed and it ain’t coming back 
'Irish' Songs for an Irish team - no SPL EPL generic sh*te
Richard Dunne - 6th Sept 11 - best marshalling of a defence in Moscow since General Zukov Russia V Germany 1941
Back to Top
Claret Murph View Drop Down
Paul McGrath
Paul McGrath
Avatar
Hmmm, Goodness, I must say

Joined: 16 Apr 2009
Location: Tibet
Status: Offline
Points: 15740 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Claret Murph Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 9:01pm
Well i have been paying into mine at work for around 20 years not going to get a whole lot out of it apart from a decent car i would say .

Live life while you can and spend it on things you want to do.
Lansdowne Road debut aged 52 and 201 days .
Back to Top
Baldrick View Drop Down
Robbie Keane
Robbie Keane
Avatar
Peyton-tly Pedantic

Joined: 18 Sep 2008
Location: Ireland
Status: Offline
Points: 32775 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Baldrick Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 9:09pm
murph please dont tell me you are going to blow your pension on a car that will depreciate like f**k once you drive out of the garage 
AKA pedantic kunt
Back to Top
horsebox View Drop Down
Robbie Keane
Robbie Keane
Avatar
Born n bred in darndale.

Joined: 03 Feb 2010
Location: Ireland
Status: Offline
Points: 34856 		Post Options Post Options   Thanks (0) Thanks(0)   Quote horsebox Quote  Post ReplyReply Direct Link To This Post Posted: 23 Nov 2020 at 9:15pm
Originally posted by Claret Murph Claret Murph wrote:

Well i have been paying into mine at work for around 20 years not going to get a whole lot out of it apart from a decent car i would say .

Live life while you can and spend it on things you want to do.


Like taxes?
It was far across the sea,
When the devil got a hold of me,
He wouldn't set me free,
So he kept me soul for ransom.
na na na na na na na na na
na na na na na na na na.
I'm a sailor man from Glasgow to
Back to Top
Claret Murph View Drop Down
Paul McGrath
Paul McGrath
Avatar
Hmmm, Goodness, I must say

Joined: 16 Apr 2009
Location: Tibet
Status: Offline
Points: 15740 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Claret Murph Quote  Post ReplyReply Direct Link To This Post Posted: 24 Nov 2020 at 9:11am
Originally posted by Baldrick Baldrick wrote:

murph please dont tell me you are going to blow your pension on a car that will depreciate like f**k once you drive out of the garage 
It's either that or the next 4 World and Euro Cups Big smile
Lansdowne Road debut aged 52 and 201 days .
Back to Top
sausy View Drop Down
Jack Charlton
Jack Charlton
Avatar
MAYO FOR SAM

Joined: 13 Jan 2009
Location: The local
Status: Offline
Points: 6972 		Post Options Post Options   Thanks (0) Thanks(0)   Quote sausy Quote  Post ReplyReply Direct Link To This Post Posted: 24 Nov 2020 at 9:15am
Originally posted by Baldrick Baldrick wrote:

murph please dont tell me you are going to blow your pension on a car that will depreciate like f**k once you drive out of the garage 
 
As much as he wants to blow it all on a new car, he cant. A certain amount has to go in to an annuity.
Bimbos Burgers - "Official Sponsor of the Irish Squad"
Back to Top
Zinedine Kilbane 110 View Drop Down
Jack Charlton
Jack Charlton
Avatar
Man City records obsession

Joined: 20 Mar 2012
Location: Dundalk
Status: Offline
Points: 9647 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Zinedine Kilbane 110 Quote  Post ReplyReply Direct Link To This Post Posted: 24 Nov 2020 at 9:26am
Originally posted by Baldrick Baldrick wrote:

Originally posted by Newryrep Newryrep wrote:

Thought it was low myself but tbh  I will likely drop dead still at work 

The target should be some of the lads on the away trips.  Longer retired than they were working Tongue

That’s the dream.

I worked with/for this guy and he was close to 60 but was very senior and loaded.
I asked him once why he was still working as he didn’t need the money. He said it’s because he has nothing else to do. He said he was too old to go travelling or take up golf etc. He said working with younger people keeps him young. He has no real hobbies outside work.

I thought it was a bit sad really. He has a really successful career but doesn’t seem like he will enjoy his retirement....

There is a good saying:

When you are young you have the energy and time to really live but don’t have the money.

When you are working you have the energy and money to really live but don’t have the time.

When you are retired you have the money and time to really live but you don’t have the energy.


Edited by Zinedine Kilbane 110 - 24 Nov 2020 at 9:52am

Back to Top
 Post Reply Post Reply Page  <12345 9>
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.00
Copyright ©2001-2018 Web Wiz Ltd.