Pension Salary Exchange

[RobertT]

I was told that you would be better putting your money in a high interest account than use AVC's. That was from the pension guy from the CWU.

My AVC's are invested in the growth fund, take a look at the rates over the last few years: http://royalmailpensionplan.co.uk/115/avc-documents" onclick="window.open(this.href);return false; - 9.15%
over the last year, 40.24% over the last 3 years.

If you can get a high street account that pays more than that, good luck to you.

Factor in tax relief and the new NI savings via PSE and I think it's fair to say your CWU guy is clueless.

That was about 8 years ago, so things might have changed. I think I put a guy off in my work by telling him that. I'll tell him to get expert advice on the matter. Pensions is something you need to get right 100%.

gg

No, those figures are from December 2014, the latest that have been uploaded to RMPP website.

[gg]

My bad Robert, I meant the info I got was from 8 years ago

[milly]

My bad Robert, I meant the info I got was from 8 years ago

Wow!
That Union guy has potentially cost his members thousands of pounds with his poor advice.
To be honest ignorance is not an excuse for anything nowadays,it just means you are too lazy to research the internet.

[gg]

To be honest ignorance is not an excuse for anything nowadays,it just means you are too lazy to research the internet.

Not everyone has access to the internet, or even knows how to use it. Also the advice on the net is not always good. How many people melted their phones when it was stated on the net that if you wrap the charging cord around your phone and put it in the microwave for 20 seconds, it will come out fully charged.

Again one of the richest men in the world Michael Dell (owner of Dell computers), said of apple computers in 1997, when asked how he would fix the company

"What would I do? I'd shut it down and give the money back to the shareholders,"

. Well now Apple is the biggest company in the world. I bet he wishes he'd bought some shares now.

How many people where told in the 80's and early 90's about endowment policies and the money to be made on them. I for one was taken in and lost thousands.

So One man's meat is another man's poison.

[milly]

To be honest ignorance is not an excuse for anything nowadays,it just means you are too lazy to research the internet.

Not everyone has access to the internet, or even knows how to use it. Also the advice on the net is not always good. How many people melted their phones when it was stated on the net that if you wrap the charging cord around your phone and put it in the microwave for 20 seconds, it will come out fully charged.

Again one of the richest men in the world Michael Dell (owner of Dell computers), said of apple computers in 1997, when asked how he would fix the company

"What would I do? I'd shut it down and give the money back to the shareholders,"

. Well now Apple is the biggest company in the world. I bet he wishes he'd bought some shares now.

How many people where told in the 80's and early 90's about endowment policies and the money to be made on them. I for one was taken in and lost thousands.

So One man's meat is another man's poison.

Sorry but I have to disagree that not everyone has access to the internet.
In this day and age I cannot think of any of my family or friends that have not or could not gain access to the internet.
It is far easier for most people at work to listen to a colleague or Union official plucking advice out of thin air rather than doing any of their own research.
Most people I work with just copy what someone else does even though it is probably not suitable for their own circumstances.
But at least if it goes wrong they can blame someone else rather than taking responsibility themselves.

[Tman]

If the rate of pay is reduced (admittedly not by much) then that must affect those are either considering or waiting for their EVR final offer or pension lump sum estimate as those are based on wages/salaries.

[TrueBlueTerrier]

Sorry but I have to disagree that not everyone has access to the internet.

My parents don't, 1 mate at work (aged 59) doesn't even have a mobile never mind a computer with internet access. But even if they don't have access to a computer it still easy enough to get free financial advice.

[gg]

Sorry but I have to disagree that not everyone has access to the internet.
In this day and age I cannot think of any of my family or friends that have not or could not gain access to the internet.
It is far easier for most people at work to listen to a colleague or Union official plucking advice out of thin air rather than doing any of their own research.
Most people I work with just copy what someone else does even though it is probably not suitable for their own circumstances.
But at least if it goes wrong they can blame someone else rather than taking responsibility themselves.

Thats like saying everyone has access to a Ferrari just because you can hire one.

gg

[milly]

Sorry but I have to disagree that not everyone has access to the internet.

My parents don't, 1 mate at work (aged 59) doesn't even have a mobile never mind a computer with internet access. But even if they don't have access to a computer it still easy enough to get free financial advice.

So you wouldn't let your parents or mate use your internet if they asked you.
I know not everybody has a computer,my point is that if you want access to the internet it really isn't difficult via family or friends.
Don't tell me, you have a mate or family member who lives on an inaccessible Island with with no running water or electricity that doesn't have the internet.
According to the Office for National Statistics in 2014 91% of households in Great Britain used a fixed broadband connection.
To be honest you are clutching at straws.

[arnold cheshire]

Sorry but I have to disagree that not everyone has access to the internet.

My parents don't, 1 mate at work (aged 59) doesn't even have a mobile never mind a computer with internet access. But even if they don't have access to a computer it still easy enough to get free financial advice.

the internet is in the library but you could have transport issues getting to the library

[gg]

Sorry but I have to disagree that not everyone has access to the internet.

My parents don't, 1 mate at work (aged 59) doesn't even have a mobile never mind a computer with internet access. But even if they don't have access to a computer it still easy enough to get free financial advice.

So you wouldn't let your parents or mate use your internet if they asked you.
I know not everybody has a computer,my point is that if you want access to the internet it really isn't difficult via family or friends.
Don't tell me, you have a mate or family member who lives on an inaccessible Island with with no running water or electricity that doesn't have the internet.
According to the Office for National Statistics in 2014 91% of households in Great Britain used a fixed broadband connection.
To be honest you are clutching at straws.

No straws here. Yes most people can access the internet, but not all know how. Some people are not interested in tech. Also do you believe everything you see on the net. How do you know if its good advice.

I was just pointing out that saying "everyone has access to the internet" so not using it makes you lazy its a total stupid thing to say.

gg

[milly]

Sorry but I have to disagree that not everyone has access to the internet.

My parents don't, 1 mate at work (aged 59) doesn't even have a mobile never mind a computer with internet access. But even if they don't have access to a computer it still easy enough to get free financial advice.

So you wouldn't let your parents or mate use your internet if they asked you.
I know not everybody has a computer,my point is that if you want access to the internet it really isn't difficult via family or friends.
Don't tell me, you have a mate or family member who lives on an inaccessible Island with with no running water or electricity that doesn't have the internet.
According to the Office for National Statistics in 2014 91% of households in Great Britain used a fixed broadband connection.
To be honest you are clutching at straws.

No straws here. Yes most people can access the internet, but not all know how. Some people are not interested in tech. Also do you believe everything you see on the net. How do you know if its good advice.

I was just pointing out that saying "everyone has access to the internet" so not using it makes you lazy its a total stupid thing to say.

gg

I didn't say that not using the internet makes you lazy.
I said that ignorance is no excuse in the 21st century when you have a fantastic resource like the internet.
If people don't want to use their initiative and rely on what some bloke at work says,then there is no hope for them.
You seem rather negative,the sort of person that looks for problems rather than solutions.

[arnold cheshire]

this has gone off topic

[fishtank]

I said that ignorance is no excuse in the 21st century when you have a fantastic resource like the internet

t'internet is a mixed bag of good and bad advice, filtering it out takes a bit of knowledge as a base point. If I want genuine pension advice or advice on anything really I go speak to an expert but that usually costs me, Listening to colleagues isn't very smart but I wouldn't say it's lazy, just not something you want to stake your life savings on. Opinions are like.....

[aiden01]

Sorry but I have to disagree that not everyone has access to the internet.

My parents don't, 1 mate at work (aged 59) doesn't even have a mobile never mind a computer with internet access. But even if they don't have access to a computer it still easy enough to get free financial advice.

So you wouldn't let your parents or mate use your internet if they asked you.
I know not everybody has a computer,my point is that if you want access to the internet it really isn't difficult via family or friends.
Don't tell me, you have a mate or family member who lives on an inaccessible Island with with no running water or electricity that doesn't have the internet.
According to the Office for National Statistics in 2014 91% of households in Great Britain used a fixed broadband connection.
To be honest you are clutching at straws.

No straws here. Yes most people can access the internet, but not all know how. Some people are not interested in tech. Also do you believe everything you see on the net. How do you know if its good advice.

I was just pointing out that saying "everyone has access to the internet" so not using it makes you lazy its a total stupid thing to say.

gg

I didn't say that not using the internet makes you lazy.
I said that ignorance is no excuse in the 21st century when you have a fantastic resource like the internet.
If people don't want to use their initiative and rely on what some bloke at work says,then there is no hope for them.
You seem rather negative,the sort of person that looks for problems rather than solutions.

so if you are in the 21st century and don't like using internet is that ignorance some people like myself are only learning to use a laptop. computer and I,m nearly 50