Early Risers.

[Ozexpatriate]

2 minutes ago, Dave Hunt said:

Didn't work for me on my laptop or phone.

Yes. On my laptop I get this:

I assume it's just a "Sunday" comic.

[PhilJ W]

1 hour ago, polybear said:

 

IIRC my Pension (final salary) wouldn't have been reduced if I was married - it's the same whether married or single; it'd be a lot fairer if single pensioners got an enhanced pension since there was no spouse to (potentially) "inherit" the pension.

I've no idea what would happen if a permanent Polina were to arrive on the scene now - could they "inherit" a pension if I snuffed it first - or is it too late as I'm already being paid a pension?

 

Apparently if the gold digger had married my brother she would have 'inherited' the pension when my brother died. She is in her mid fifties so its possible she could marry a toy boy who would in turn get the pension. Incidentally the pension is from the gas board.

[BSW01]

Good evening everyone 

 

Well, it’s been quite a busy day here one way or another. The as the rain had stopped, I decided to do some tidying up in the front drive, there were quite a few weeds popping up in the block paving. So off I went to the shed, got all the necessary tools and then I trundled off round to the front garden. It wasn’t as bad as I expected and the job took a little over an hour or so to complete. I’d just finished sweeping up the weeds and putting them in the garden waste bin, when it started to rain again. Luckily it wasn’t heavy rain and I managed to get back round to the back and get everything back in the shed without getting wet. After locking up the shed and the back gate, I decamped to the workshop and continued with the inspection pits it built on Friday. The 2 that I built on Friday had been left clamped to a short length of wood, to keep them both straight. So I removed the clamps and then built another 2, which were also left clamped to ensure they remain straight. I’ve 1 more to build, which I’m hoping to do when Charlie calls round next. 

 

This evening was my turn to call my brother in Canada and as is the norm, we spent an hour chatting about this and that and generally putting the world to rights.

[BSW01]

Goodnight all 

[PhilJ W]

Goodnight all.

[Andy Hayter]

1 hour ago, PhilJ W said:

Apparently if the gold digger had married my brother she would have 'inherited' the pension when my brother died. She is in her mid fifties so its possible she could marry a toy boy who would in turn get the pension. Incidentally the pension is from the gas board.

All of this depends on the specific terms of the pension arrangement

 

Many pensions these days purchase an annuity - think of it as an insurance policy that pays out each month until your death.  Any monies remaining in the pension pot then pass to the surviving relative(s).  In this case however, it would be as a lump sum for the surviving relative to use as they want - and not continuing pension payments.  But on their death any remaining monies pass on.

 

But there are many variations on the theme and some may indeed continue to pay a reduced pension to a widow.

 

Company pensions which don't result in buying an annuity will work differently and it is ten down to the individual and specific rules of the scheme.  Almost invariably a widow will receive a reduced pension.  After that, depending on the scheme, a dependent relative might still receive monies - this would include a severely handicapped offspring but probably not a new found spouse. 

 

The purpose of the pension is to provide for the employee and for direct dependents.  If you have none, then tough luck.  In absolute terms it is not fair - but life is not fair.

[jjb1970]

3 hours ago, Dave Hunt said:

 

An ex-schoolmate of mine applied for a job with the F.O. and when he went for interview was given something like fifteen or thirty minutes to prepare a talk to the interview panel on the effect of sugar on British foreign policy. He didn't get the job.

 

Dave

 

I have heard so many similar stories. When I looked at the application forms part of my calculation for not bothering was that it entailed a lot of work and I didn't rate my chances of success especially highly based on the apparent selection process and criteria.

 

A guy at DfT once dropped a very revealing comment about how they were struggling to maintain standards and having to consider people from lower tier universities. That told me where a former seafarer who went to university later like me would fit into their assessment criteria.

 

I do wonder how many good applications they lose because of it. A guy at Abbey Wood asked me why I hadn't applied after he asked me too and when I answered he rolled his eyes and used a rather unnecessary word before going off on a rant about it all. He was very senior and would ultimately have been the decision maker, but only after HR did all the competency stuff and screened out the riff raff.

[jjb1970]

By contrast the process for my current role was rather different. I shared this on another thread but it was a bit of a joke. I was asked if I wanted a job to be based in Brussels. I made an off the cuff comment of 'offer me the job in Singapore and I'll say yes' as a way to say 'thanks but no thanks' assuming that'd be the end of it when to my sort of horror they came back a little later to tell me they'd spoken to a few people and had agreed to move the role to Singapore for me. After that I felt a bit bad about backing out.

 

This was not typical as I had collaborated with them for a long time and we knew eachother well (a reason I was positive was I had plenty of experience to conclude it was a good outfit with good people) but the interview was a couple of zoom calls with people in shipping lines so they could kick my tyres. However there's a middle ground between the civil service approach and an entity just going directly to someone they want.

[BR60103]

On Pensions:

Canadian practice (regulations) is that the standard pension has a 50% survivor benefit to the spouse.  This is the spouse at the time of either leaving the job or retirement while employed. I think that the amount can be recalculated for the single employee. Companies may be more generous.

There are extra provisions for a 5-year or 10-year guarantee, which is regarded as making sure the retiree receives their contributions (and the company's) back even if they die sooner.

They can also (in some cases) request a change to a different survivor percentage -- usually 66 or 100.

I don't know of any provision for a lump sum; the idea is to provide income for life.

Pensioners dieing earlier is called "mortality gain" by the actuaries and the money goes to the fund or the insurance company to pay for the longer-lived.

 

During my career, there was a general removal of the clause that terminated pension payments if the widow remarried; the companies did not want to be seen encouraging people to live in sin.

(This is based on remembering stuff from over 20 years ago.)

 

 

[monkeysarefun]

Here your pension (called superannuation, which is mainly the 10-12% or more  of salary that employers contribute plus any additional contributions that employees choose to make) is basically  an asset  which upon your death goes in entirety  to the person who you nominated as your beneficiary to the superannuation company. If you die before retirement age the same still occurs - your nominated beneficiary receives all that you have accrued up to that point.

 

Essentially the beneficiary must be a dependant to receive the money, but if I wanted say @polybear to get it all, which I don't; but say I did, then I'd nominate my legal representative as the beneficiary and would include in my will that I wanted @polybearto receive my superannuation lump sum, plus my collection of venomous things.  The legal representative would then distribute the superannuation lump sum as per my wishes in my will. 

 

 Assuming I make it to retirement age then once I retire I can withdraw it as a big  lump sum if I like (though there are tax penalties to deter you from doing that, blowing it all then claiming the old-age pension!)  or draw an annuity from it. 

Edited August 28, 2023 by monkeysarefun

[polybear]

7 hours ago, Dave Hunt said:

 

Didn't work for me on my laptop or phone.

 

Dave

 

Oh Poo.

@PupCam  PUPPERZZZZZZZZZZZZZZ......................

 

52 minutes ago, monkeysarefun said:

Essentially the beneficiary must be a dependant to receive the money, but if I wanted say @polybear to get it all......

 

 

 

 

[iL Dottore]

4 hours ago, jjb1970 said:

….A guy at DfT once dropped a very revealing comment about how they were struggling to maintain standards and having to consider people from lower tier universities. That told me where a former seafarer who went to university later like me would fit into their assessment criteria.

 

Well, that explains a lot about the state of public transport in Britain today….

 

I really wonder how the Civil Service copes now that fewer and fewer people are leaving Oxford and Cambridge with a First in Ancient Greek or Early Roman Poetry…

 

 They may actually have to start employing some of those ghastly oiks with real engineering degrees from some god-foresaken hell-hole “oop norf” like The University of Manchester or The University of Leeds.

 

I mean, really, such types probably don’t even “dress for dinner” or know how to pass the port…..

[polybear]

Bear here.....

What fun does today hold in store for a mischievous Bear?  Oh yes, deep clean the Muddlin' Room....

 

One thing I forgot to mention yesterday was the cleaning of the filter on the washing machine (as suggested by @45156); whilst there was a distinct lack of fluff n' dross I did discover a thin red plastic tube about 3-4" long, which looks suspiciously like the tube off a can of WD40 - it actually made unscrewing the cap off the filter a bit awkward.  The tube looks a bit short though - either it was a short tube or the pump impeller has chomped it; as to where the other bit may be is anybody's guess, but there was no sign of it.  The WM seems to work fine and there's no strange noises so there's nottalot I can do about it.

 

Bear Gone.

[iL Dottore]

17 minutes ago, polybear said:

 

 

Congratulations @polybear, on your nuptials. @monkeysarefun really makes a beautiful, blushing bride….

It must have been a low-key registry office wedding, as I’ve seen nothing in the society pages. Although there was a news article about cake shops being stripped bare in a 50 mile radius around Bear Towers.

[monkeysarefun]

55 minutes ago, iL Dottore said:

Congratulations @polybear, on your nuptials

Pigs bum we're getting married!

He was all " I went to buy a wedding kilt but I lost my wallet can you send me some money?" So I did ,  then it was  "I want  to hot up the  MG so we can compete in  the 2023  pan-European burnout championships for our honeymoon but I lost my wallet again, can you send more money?"  so I fell for it again. The latest one was "I'd love to repaint the loungeroom and stairwell again but  in an Australian outback  theme but I lost my wallet once more so can you send some more money?" but I'm not falling  for that this time.

He's dead to me now and that's why I'm not leaving my superannuation to him!

 

Edited August 28, 2023 by monkeysarefun

[iL Dottore]

As much as it pains me to do so, Chimpey, I must (reluctantly) come to the defence of my old sparring partner @polybear.

 

@monkeysarefun you’ve been scammed by the notorious “Prince” Òfàfà*of Nigeria. He’s very adept at scamming well meaning people out of their money - one of his frequent scams is the “poor Polybear” scam. He also impersonates the rich and powerful (seemingly with impunity). One of my youngest (and a bit naïve) minion trainees was taken in by him as he claimed to be acting on my orders (the cheek!) and she forked over the equivalent of 15000 sound Deltics to him**

 

Needless to say, soon the “Prince” won’t be bothering anyone anymore - rich or poor, famous or obscure -  as I’ve hired an experienced “Hit Hippo” to carefully explain to him the error of his ways….

 

Captain Cynical

 

* bear in Yoruba

** as a suitable punishment, the young minion-in-training has been sentenced to 6 months of night duty as a cake-protection operative. I’m not completely vindictive and heartless…

 

Edited August 28, 2023 by iL Dottore
Typo

[jamie92208]

Good moaning g from a cool and damp Charente where as far as I know there are no bears of any ki d but there is a monkey Valley. Monkeys are known as singes here. Make of that what you will. French class this morning, a visit to the vineyard to replenish essential supplies then this afternoon our financial advisor is arriving for our annual review.  Oh and there is still some trifle to finish and I believe that the remains of Saturdays leg of lamb are to form the basis of a curry. 

 

Ttfn

 

Jamie

[Winslow Boy]

1 hour ago, iL Dottore said:

 

 They may actually have to start employing some of those ghastly oiks with real engineering degrees from some god-foresaken hell-hole “oop norf” like The University of Manchester or The University of Leeds.

 

Really Herr Doktarre I expected more from you. I know your semi retired and winding down and everything, but come on at least try to do the due diligence bit. Greater Manutopea has several universities. Which one were you referring to and no I'm not giving you a hint. 

[PhilJ W]

8 hours ago, Andy Hayter said:

All of this depends on the specific terms of the pension arrangement

 

Many pensions these days purchase an annuity - think of it as an insurance policy that pays out each month until your death.  Any monies remaining in the pension pot then pass to the surviving relative(s).  In this case however, it would be as a lump sum for the surviving relative to use as they want - and not continuing pension payments.  But on their death any remaining monies pass on.

 

But there are many variations on the theme and some may indeed continue to pay a reduced pension to a widow.

 

Company pensions which don't result in buying an annuity will work differently and it is ten down to the individual and specific rules of the scheme.  Almost invariably a widow will receive a reduced pension.  After that, depending on the scheme, a dependent relative might still receive monies - this would include a severely handicapped offspring but probably not a new found spouse. 

 

The purpose of the pension is to provide for the employee and for direct dependents.  If you have none, then tough luck.  In absolute terms it is not fair - but life is not fair.

As I mentioned the pension concerned was from the gas board and Ken whose pension it was died well over forty years ago before privatisation. Back then public sector pensions were a lot more generous than they are now as life expectancy was less and to receive the pension you had to work up until 65 so on average recipients only received their pensions for about 5 or 6 years and if there was a widow left for a couple of more years. There were exceptions of course such as ill health retirement were it is possible for someone to receive a pension for longer* than the paid into it but this is the exception to the rule. *I've calculated that if I live beyond 97 I will have received my pension for longer than I paid into it.

[Winslow Boy]

33 minutes ago, PhilJ W said:

As I mentioned the pension concerned was from the gas board and Ken whose pension it was died well over forty years ago before privatisation. Back then public sector pensions were a lot more generous than they are now as life expectancy was less and to receive the pension you had to work up until 65 so on average recipients only received their pensions for about 5 or 6 years and if there was a widow left for a couple of more years. There were exceptions of course such as ill health retirement were it is possible for someone to receive a pension for longer* than the paid into it but this is the exception to the rule. *I've calculated that if I live beyond 97 I will have received my pension for longer than I paid into it.

 

When my mother had been retired, on ill health grounds, for several years, she ran into a retired ex colleague.  He had been retired longer than what they had been employed for. When he died she used to joke that now he was gone there was no else but her who could claim that title. In a way it was a example of how life expectancy had changed during her life time.

[tigerburnie]

My go to  interview outfit included a shirt and tie(usually reserved for Weddings and Funerals and the odd Christening and boy have I been to some odd ones). I only possessed one tie, my old rugby club one, I reckon at least 6 jobs I had in Leicester were acquired via that tie, more than one interview was solely about the game and no mention of qualifications or experience, the old school tie can work as well apparently, but I couldn't find a shop that sold Eton ties.

[tigerburnie]

4 minutes ago, Winslow Boy said:

 

When my mother had been retired, on ill health grounds, for several years, she ran into a retired ex colleague.  He had been retired longer than what they had been employed for. When he died she used to joke that now he was gone there was no else but her who could claim that title. In a way it was a example of how life expectancy had changed during her life time.

I have a small pension from an oil company, I worked there for 7 years and I've now been retired for over 8.

[Winslow Boy]

1 hour ago, Winslow Boy said:

Really Herr Doktarre I expected more from you. I know your semi retired and winding down and everything, but come on at least try to do the due diligence bit. Greater Manutopea has several universities. Which one were you referring to and no I'm not giving you a hint. 

Oh okay I'll give you a couple of starters, but only because you did what I said to do when you planted those black currant bushes.

So would it be the university where someone called Andy was messing with his chemistry set at the turn of the century and managed to get it to 'chain react' thereby helping the Yanks to win the second world war? Or perhaps it was the one where the thinnest material made from carbon in the world was made. Will be back later to see if you've managed to answer the question.

[Dave Hunt]

I’ll have to live to 98 to receive my pension for longer than I paid into it. By paid into it I mean that when assessing armed forces pay the review body knocks off 11% as an effective pension contribution.

 

Dave

[PhilJ W]

Morning all from Estuary-Land. The sciatica made itself felt early this morning, the first time in ages. The cold (and it was a bit chilly this morning) seems to bring it on so putting a fan heater on seems to ease it somewhat. A few things to do today so I'd better get on with it.