[Archived] Rant (4?)

[Gav]

Just on the trains, its takes the same time to get from Clitheroe to Preston 18 miles (With waiting time at Bburn) as it does to get from Preston to West Midlands 100 miles - how can that be right? and don't get me started on the York train..........

HS2 - I see the benefits from a freight point of view, but lets get the regional lines sorted before we bulldoze peoples house for this Tory vanity project.

 

[K-Hod]

I'm just glad I never need to rely on trains or public transport tbh. I'd never be on time for work if I did!

[Skiptonrover]

2 hours ago, K-Hod said:

I'm just glad I never need to rely on trains or public transport tbh. I'd never be on time for work if I did!

Too true best thing I ever did passing my test.

[Baz]

Struggling to find the page in the Tory manifesto that outlines their policy on extending the age I need to be to claim my state pension.

It must be pretty high up the list, as it's been put through in the first batch of new policies?

[JAL]

13 hours ago, Baz said:

Struggling to find the page in the Tory manifesto that outlines their policy on extending the age I need to be to claim my state pension.

It must be pretty high up the list, as it's been put through in the first batch of new policies?

At this moment in time how much pressure are private pensions currently under. 

[Paul]

1 hour ago, JAL said:

At this moment in time how much pressure are private pensions currently under. 

I'm uncertain of the sense here as I think your post could be interpreted in different ways.

In my experience, and my knowledge is purely personal not professional, private pensions are currently doing well.

The collapse in Sterling brought about by the Conservative government through Cameron's referendum, the disastrous Brexit vote and subsequent Tory incompetence are a total disaster for the country. However if your pension is invested in part or whole outside of the £ the result is pretty good.

As far as I can see the value of private pensions is one of few, if any, positives to come from Brexit.

 

[Paul]

15 hours ago, Baz said:

Struggling to find the page in the Tory manifesto that outlines their policy on extending the age I need to be to claim my state pension.

It must be pretty high up the list, as it's been put through in the first batch of new policies?

I keep telling my kids to buy a pension now if they want to have any chance of retiring at 60. My advice to any young person would be forget about any possibility of the state helping you to retire in 35/40 years time - it just isn't going to happen  - and do whatever is necessary to provide for yourself. Hugely unjust but very realistic. The working population are supporting millions of pensioners today and are very unlikely to enjoy the same by 2050 and beyond. 

[JAL]

On 2017-7-19 at 22:16, JAL said:

Why isn't the new Ewood roundabout, at the end of Shearer way, outside the Fox and Hounds, not being maintained with the grass currently looking very overgrown untidy and neglected less than twelve months into its new life.

Glad to see that the Ewood roundabout has been tidied up this morning. Well done to all involved.

[Mike E]

It won't be long before state pensions only go to those who get less than the value of a state pension from their private pension.

Eg: If state was £100/week and your private was worth the same, you'd only get your private.

If your private was worth less, state would top it up to £100/week.

If private is worth more... well done you, but we'll tax 20% of anything after the first £100/week.

You can see it coming, especially as state pensions will continue to become less and less affordable.

[JAL]

13 hours ago, Paul said:

I'm uncertain of the sense here as I think your post could be interpreted in different ways.

In my experience, and my knowledge is purely personal not professional, private pensions are currently doing well.

The collapse in Sterling brought about by the Conservative government through Cameron's referendum, the disastrous Brexit vote and subsequent Tory incompetence are a total disaster for the country. However if your pension is invested in part or whole outside of the £ the result is pretty good.

As far as I can see the value of private pensions is one of few, if any, positives to come from Brexit.

 

But pensions are interpreted in many ways which thanks for sharing your views but how many different angles financial can we take on pensions today.

Will every youngster paying into a pension fund today also be investing outside of that pound and if so, what impact lies ahead for pensions UK ?

[Paul]

I'm afraid I'm struggling to get the point here. 

[Claytons Left Boot]

13 hours ago, JAL said:

Will every youngster paying into a pension fund today also be investing outside of that pound and if so, what impact lies ahead for pensions UK ?

Most pension funds have a wide spread of investments - stocks & shares, gilts, bonds, cash etc - from both within the UK, Europe and worldwide. The current weak value of sterling shouldn't necessarily pose too much of a problem for most funds. UK businesses that export, for example, perform better (or should do) when the pound is weak because overseas buyers then pay less for their goods. My own fund has risen considerably over the last two years partly because that fund has a decent spread of investments from overseas, as well as the UK.

Regarding the State Pension that I think you're referring to as 'pensions UK,' then the money appears to be running out for a variety of reasons, hence the recent extensions to the eligible ages before claiming. I've gone from 65 to 66 before I'll be able to start drawing mine. The writing is on the wall and, as Paul indicated, I would advise anyone to start contributing to a pension scheme as soon as they can.

 

[Paul]

On 22/07/2017 at 22:47, JAL said:

But pensions are interpreted in many ways which thanks for sharing your views but how many different angles financial can we take on pensions today.

Will every youngster paying into a pension fund today also be investing outside of that pound and if so, what impact lies ahead for pensions UK ?

Ah I see now. Pensions UK is the State Pension? If like CLB I've hit on the right topic here are my thoughts. 

The first thing to get one's head round is what we refer to the "state pension" is a benefit which is funded through NI contributions of the working population to support the retired population. Everyone who has made NI contributions is entitled to claim the benefit. There is though no "pension pot" which works in the way a private pension does. There are no savings growing to help pensioners it is simply paid out of today's NI revenue. This is a massive problem as the population ages, fewer people work and is strong argument for migrant labour. Someone has to pay the taxes!

I'm not very familiar with it but I feel the Workplace Pension signals the end of the state pension or at the least a serious attempt to get people to fund an additional pension for themselves. For me this should be applauded. The state cannot and will not be able to adequately fund retirement in 30/40 years time - it's simply not sustainable and supplementing state pension is essential. 

I'm not sure of today's exact figure but a couple of years back the average private pension "pot" was £30,000 - this buys nothing. Ten or twelve times that value will buy a pension of around £8/9000. Puts things in perspective I think.  It's critical for young people to realise this and be pushed down the savings route through the workplace scheme.

I would say the writing is on the wall for the state pension. It's value in real terms will decline over the coming 30 years and won't provide today's young people with the value it does today.

As for where youngsters invest? It may or may not be outside of the UK. A financial advisor should direct them towards appropriate funds and the fund managers make the right decisions for long term growth. I'm retired and on the advice of my FA I've recently moved the bulk of my savings in to a fund which has only 8.5% of its investments in the UK. That fund is managed by a leading UK company - pretty much tells me what they think of the car crash which the government laughingly describes as our economy!  

Having a financial advisor makes one sound wealthy. That's far from  the truth but finding a good one is very important. How many of us really understand these things? Paying for good advice and guidance is the sensible way to make good use of whatever funds an individual can afford.

As for housing and pensions? I cannot get my head round this one. With more and more people renting their homes we face another time bomb. Rents of £500/1000 pm are commonplace. Where on earth is a pensioner going to find £12000 pa to pay that?

This subject is never discussed - talk about the elephant in the room. 

[Baz]

On 7/21/2017 at 14:10, Gav said:

Just on the trains, its takes the same time to get from Clitheroe to Preston 18 miles (With waiting time at Bburn) as it does to get from Preston to West Midlands 100 miles - how can that be right? and don't get me started on the York train..........

HS2 - I see the benefits from a freight point of view, but lets get the regional lines sorted before we bulldoze peoples house for this Tory vanity project.

 

After the scrapping of the full electrification of some local lines on cost grounds less than a week ago.... the chancellor has approved plans for crossrail 2 at a cost of further billions.

Amazing that we all talk about scrapping HS2 and using the money for local lines, but Londoners get both.

[Mike E]

When did mayonnaise on pizza become a thing? Wtf?

[J*B]

7 hours ago, Mike E said:

When did mayonnaise on pizza become a thing? Wtf?

I didn't. Just like tomato ketchup and brown sauce, it's never been a thing and will never be a thing. It's socially unacceptable and on the same level as pineapple on pizza. 

[jim mk2]

14 hours ago, Baz said:

After the scrapping of the full electrification of some local lines on cost grounds less than a week ago.... the chancellor has approved plans for crossrail 2 at a cost of further billions.

Amazing that we all talk about scrapping HS2 and using the money for local lines, but Londoners get both.

The politics of this decision stink.

London is constantly showered with investment while the regions are starved. The playing field is, to put it mildly, not level. And it's deeply stupid, as it means large swathes of the UK are hindered in their efforts to reach their economic potential, while London suffers all the problems of an overheating economy and an overcrowded environment.

[den]

[Biddy]

Blimey, I'd like to know where the East Midlands money is going as it doesn't seem to get any better.  We are also no longer getting full electrification either 

[jim mk2]

Superb graphic Den - can you provide a link ? 

[den]

3 hours ago, jim mk2 said:

Superb graphic Den - can you provide a link ? 

OK. Had trouble finding it, but it's a graph linked on twitter by Andy Burnham. The figures on here are from 2014 - which I didn't know. Doubt they've changed too much though.

https://www.statista.com/chart/2132/spending-per-head-on-transport-infrastructure/

[Skiptonrover]

On 22/07/2017 at 17:34, Mike E said:

It won't be long before state pensions only go to those who get less than the value of a state pension from their private pension.

Eg: If state was £100/week and your private was worth the same, you'd only get your private.

If your private was worth less, state would top it up to £100/week.

If private is worth more... well done you, but we'll tax 20% of anything after the first £100/week.

You can see it coming, especially as state pensions will continue to become less and less affordable.

I can certainly see that coming. Paid into both all your life but will get penalised for being financially responsible subsiding reckless people lacking the forevision into paying into private 1 as well.

[Paul]

The Guardian is reporting this morning the government plans to ban the sale of new petrol and diesel vehicles from 2040. The report states 40,000 premature deaths per annum are attributable to air pollution. The cost to society being £2.7bn. 

Alcohol is estimated to have a cost to society of £21bn and directly to the NHS of £3.5bn.

George Osborne stated obesity cost society £27bn with £16bn cost to the NHS.

Smoking causes 78000 deaths per annum with estimated NHS costs of £3-5bn. (Tax revenue £12bn)

It seems to me this is very worthwhile but there are other areas which can have a greater and faster impact. 

I can't help feel a total ban on smoking, significant tax increases on alcohol, sugar and many other unhealthy foodstuffs coupled with a serious education campaign would have a far greater impact on the nation's health while reducing NHS costs.

https://www.google.co.uk/amp/s/amp.theguardian.com/politics/2017/jul/25/britain-to-ban-sale-of-all-diesel-and-petrol-cars-and-vans-from-2040

[Mike E]

31 minutes ago, Paul said:

The Guardian is reporting this morning the government plans to ban the sale of new petrol and diesel vehicles from 2040. The report states 40,000 premature deaths per annum are attributable to air pollution. The cost to society being £2.7bn. 

Alcohol is estimated to have a cost to society of £21bn and directly to the NHS of £3.5bn.

George Osborne stated obesity cost society £27bn with £16bn cost to the NHS.

Smoking causes 78000 deaths per annum with estimated NHS costs of £3-5bn. (Tax revenue £12bn)

It seems to me this is very worthwhile but there are other areas which can have a greater and faster impact. 

I can't help feel a total ban on smoking, significant tax increases on alcohol, sugar and many other unhealthy foodstuffs coupled with a serious education campaign would have a far greater impact on the nation's health while reducing NHS costs.

https://www.google.co.uk/amp/s/amp.theguardian.com/politics/2017/jul/25/britain-to-ban-sale-of-all-diesel-and-petrol-cars-and-vans-from-2040

Education that is severe (and I mean showing affected body organs to children) would be far more effective than any amount of tax.

Taxing things like alcohol just punishes those who are already responsible drinkers imo.

I agree with the sentiment of your post but think education should be the priority over taxation. 

[Baz]

That 40,000 'deaths from air pollution' is more accurately recorded as an average of 3 days per lifetime of each person in the uk.

Makes a difference how it's reported, doesn't it.

Also as the majority of our electricity comes from 'dirty energy (coal etc) then is this more or less effective?

 

If the government really wants to sort out pollution then they need to look at clean energy, like having solar panels on every suitable public building, tidal power schemes and giving grants to homeowners for using clean energy sources.