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Morning Sid/Everyone.
If i may i will explain my/wifes position.
Me,in receipt of a pension from Bae systems.Wife receives Tesco pension,also due to retire this Sept.
Rewind to 2014.Wife and i decided to take 25% from our respective company schemes,my wife commenced her one and only pension.I paid the additional tax and took the remainder which we banked in Isas.We imediately commenced new pensions with our companies.The monthly pensions we receive have been used to put £500 each into our respective company SAYE schemes.My wifes Tesco shares which she bought and kept have netted her £8000 special dividend with 13000 shares to sell as and when.Mine should net approx £100000.
The pensions we recommenced in 2014 have again been taken,this time both have paid all taxes and lump sums put in tax free Isas.
We will retire with approx £220000-£240000 in the bank,sheltered from tax.
End result is 2 x state pensions + 1 company pension each will give us £2000 pcm.
Personally I would rather have £220k etc under my roof than a pension fund where the money can go up and down like a sparrow on a dung heap.How much will a company give you per annum for £220k ?
Thanks guys for your replies I shall contacting Tesco pension to find what I can,I know the transfer value has gone up over last two years .
I just feel that the amount of daily cases and deaths in the UK is really high, seeing as we're all supposed to have been in lockdown since Christmas - it was lower compared to our last full lockdown, and I think that was shorter than this one. I just think that the minute businesses start opening up and schools return, cases will start to increase as well.
Hopefully, vaccinations will reduce hospitalisation or serious illness in general. But I'm not very hopeful for the near future where coronavirus is concerned.
Sid, I assume you are in what is termed a 'money purchase' scheme, whereas I'm in a final salary one elsewhere. I left my employer at age 47, and took a pension at age 50. There is a lot to be said for taking the pension now, albeit at a lower rate because no one knows how long they will live. I'm 70 now and its worked out fine for me. They will give a forecast for age 67, but it will be fairly meaningless as its based on standard projections that bare no relation to actual past performance, and who knows what is going to happen in say the next 8 years. Something you might want to ask is, what is the current 'transfer value' ? And this is a figure that you might have had previously, if so compare it. If you delay taking the pension for the time being you can ask for the transfer fig. again in the future. It is a more useful figure because it in effect shows the size of the pot allocated to you and how its growing in value, or not. Hope this helps, not advice just my thoughts. JJ
Lurk
''whilst I think future lockdowns are inevitable''
Why are they inevitable?
Yes, Tesco were plugging a hole, not enhancing.
Pensions, whilst necessary to provide some funds, for the general population they will provide a pittance on retirement.
Each time the stock market takes a hit, the pension companies throw the baby out with the bathwater and then chase as higher prices.
Your 15 years period covered the 2008 crash, covid crash and a drying up of dividends which many pension companies depend on for income.
Do the pension companies really care?
The answer is no, if markets rise they shims of the profits and add a paltry actuarial release to the plans. If the markets fall or crash they cut the valuations, the assumptions and the forecasts.
THEY STILL GET THEIR COMMISSIONS AND FEES THOUGH and the world goes on turning.
They are drowning in cash from automatic pensions contributions from employees just waiting to be allocated until they lose your money.
Add up what you and your employer have contributed. Look at the forecast retirement payout compared to your valuation and think how many years will it take to get your contrubions back.
And in many cases, the pension companies have been making high returns on your investments for maybe up to 40 years before they pay out a nominal amount.
I started taking mine out at 55 as I felt that the full capital in the bank, less the tax charge would at 2% interest give me more untouched than leaving it within the pension to pay out less in 10 years +. That is if they had not messed it up in that time. In the end, I invested well and have returns in excess of the pension conpanies offer.
Each person should make their own decision, but many die before getting back a decent portion of their own contributions.
The only winner is the pension company, who give you scraps.
GLA.
Lurker, I am in agreement with your analysis of Tesco and think that this could be a great long term investment. I certainly can't see the SP dropping any lower and can only really see positives here.
Isn't the £2.5bn to be used to reduce the pension deficit not to enhance pensions.
but....2.5 Billion of the sale of businesses in Thailand and Malaysia went into the Pension fund to bolster it. Now not being a pension expert but a ex employee with 15 years hard labour, I mean service, I from time to time look into what my Pension is worth and when I can take it etc etc , , now 2018 I had a estimated forecast of £4,300 per year at age 67, this year I have a forcast of £3,500 if I take it this year,age 59 Questions : Why havent I had a full forcast till 67 years? Yes I will be asking them this, second question is.as the 2.5 billion was there to bolster our pension is there any likelyhood of our pension forecasts improving? I just wonder if anyone was thing o taking their Pension would they benefit from waiting till the 2.5 billion has had time to make an impact? or dont Pension work that way? I will ask tyhe Pension people this too if I get to some one who knows! Some body here might have a idea what happens.....
Hi Jimjam. Admittedly, Tesco did have their fingers in lots of pies at their prime - and they have found out the hard way that they don't have the midas touch with everything; such as the bank, their nutrition centre and Deck's Café chain to name a few things of memory that I think have all gone to the wall since they bought them.
Last year, Tesco said how they're going to pressure suppliers to provide better deals and they've sold their mortgage book too, so there's two things that will help towards future profitability. And whilst I think future lockdowns are inevitable, the hospitality sector may have need of their Bookers side of the business until that time comes. Just my opinion on where things stand for this next year, but who knows what else might be up the BoD's sleeves?
Lurker, I would get rid of the bank-it was created when TSCO thought they could do nowt wrong. They should focus on being a profitable supermarket, which is how I see the bod are acting/thinking IMO. FYR's are going to be very interesting giving as they will a good idea of how TSCO will fare as we come out of the 'final' lockdown. JJ
Tesco couldn't be a safer investment right now if it tried.
1) Best online presence of all it's competitors, and it's big investment into home delivery at the beginning of the pandemic.
2) Getting rid of loss making areas of the business
3) Share consolidation = Bigger future dividend payments due to there being less shares in issue
4) Big focus now on streamlining the UK area of business
Only downside is that the Bank is still a bit of a weight around Tesco's neck at the moment. So I reckon either that will be the next thing to go, or that given enough time, it'll be taken up by enough customers to make it profitable or at least go sideways.
There is no qualifying period. You simply have to own them on before what is called the ex dividend date. If you buy them after that date the previous dividend goes to the seller. A quick google should pop out ex dividend and payment dates.
LTI > Agree to keep it simple maintain the garden, harvest the fruit which makes the pie stronger add any cash into buyback shares making it lean and mean.
eccles04,
This was, however, originally announced (subject to approvals, etc) back in June (2020). The amount they're getting doesn't to me seem very large for the size of business(es) they're selling, but if they're getting rid of a loss-maker, and they're being paid in cash, I guess it's all to the good.
Mike.
A bit more money into the coffers - in addition a loss making business gone.
All good
Yet another sell out - strange behaviour for an expanding business NOT. Either they are short of cash or can't find a decent manager to run the show in Poland, neither scenario bodes well IMO.
Sorry LTI, What I meant (Under cover of darkness). Iceberg orders are large orders that are split up into lots or small sized limit orders. ... They are typically placed by large institutional investors to avoid disrupting trading markets with a single, large order. Agreed the amount allocated is in advance. GL
Fair value for this by next Divi Date will be around £2.70p to £2.80p (anyone think this will settle at £2.35p is deeee-reaming)
They have their money.
They then decide what to do with it - maybe a good proportion will come back into further Tesco purchases.
There she goes again
Racing through my brain
And I just can't contain
This feeling that remains. The LA's
Couldn't stop myself. GLA
every board i go to i see you MaryBr190 i don't know who follows who ,lol
i agree with 220p and 250p trading range but i can not see £3 here soon
Was over 250 when I reduced at the end of Jan. It can easily get there again. The Polish sale continues the restructure and hopefully upwards again.
Nice lift today but it did this a few sessions ago too.
I want near £3 from this this year before I fully sell out.
GLA
Fair price, more like the 240 plus, just to put us back where we were before consolidation, maybe with lockdown easing we may get there hopefully
It's pretty clear this is being held in a 220-222 trade channel. Sainsburys, Morrisons and M&S have all been going up this week and those gains were maintained. Fair value imo is at least 235p
.