Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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BAZ. ..my AVC in BT section c Are brill.You buy them through salary sacrifice so save 32% on the price you buy them at.So even if I Bought 18000 pounds worth And it was worth the same at the end you have still gained 32% or only paid £12240 for them.And ing Sect c you can take them out as a tax free lump sum at 50yes old.Also the avc adds to you're pot value so the 25% tax free lump sum gets even bigger....simples .
Well saitoman, you have thought it out long enough.Good luck with it.I myself went at 60 and in hindsight wish I had went at 55.Hindsight is never there when you need it.My own experience with avc's was not good.18k paid in and 18k+6 quid out. Life is like a toilet roll, the nearer the end the quicker it turns. All the best, Baz
Me too guys got out early and took big tax free payment to keep down bloody tax.
Shares bring in over 4K in divi tax free top up and money in the bank. Would not sell as long as divi remains .
Don’t forget the earlier you retire the longer you live according to figures. Probably why they want us working longer, more tax and less pension. Win win for the Government..lol
Not ex BT but did exactly the same - was fortunate enough to get out at 51 with a cracking index linked pension. Spent from 51 to 60 or thereabouts living in NZ and Oz (bloody brilliant) - did a bit of work for extra beer money but worked where and when I wanted - and if I didn't like it I could tell whoever to go rotate. I'm 65 now (and got full whack state pension too - you have to plan for these things but trust me - it's worth the effort). Now back in UK with kids and grandchildren to keep me on my toes. Point is this - I'm fit and try to keep fit (had my share of grief along the way like most - but still firing on all four) - but you really start to feel it from early 60's on - you just haven't got the stamina or resilience you used to have - you can fight it but you can't stop the ageing process. I made a conscious decision to do my travelling and whatever when I was still fully active - best decision I ever made (and I can still outride some fat knackers half my age now on a bike - but nobody stays young forever). Get out while you can, when you can - making sacrifices earlier on is the only way to do it - or get very luck - or both (which I was fortunate enough to do). Life is too bloody short to spend it working all your best years - and as just about every bugger on here has commented recently - most employers don't give rat's arse about you - so you don't owe loyalty - don't fall into that trap.
Rant over - beer time.
IMO
Bang on NDN. ..I am so glad the penny totally dropped for.me at about 40 yrs old...That's why I have been spouting the process for years.Its no good putting your head in the sand about pensions and retirement and waiting till 65, its all too late by then.Many 65yr olds at our social club are moaning they waited too long and wanted too much money for retirement. . Now they pay loads of tax, are 65+ have aches and pains everywhere and cant do half the stuff their money could.pay for...not for me...SM
Saitoman. Thats exactly what I did 4 years ago Never looked back, cash in bank, shares at a discount don't have to worry where the money is coming from. If you take it early and live an to na average age, say 80-85 then you get the same amount as you would retiring at say 65 Enjoy them years...
"Having said all that I’ve just made a great case for a buyout...lol"
PM,
BT must look attractive to Deutsche Telekom? If DT were to increase its shareholding this would give some inevitable support the share price, and lead to a short squeeze.
No Baz ,the 50% of the pension is due to going early.I have had quotes at 50,so I know what I am doing and getting.I will get £9500 a year for life and about 63k tax free lump sum.Add that to a year's pay off tax free ,say another 30k...and there you have it..plenty to live off all tax free as the pension is under annual allowance and all cash is tax free and used to top up small pension.So that's about another 4500 pounds a year top up from the cash and another 10k a year tax free in ISA from 30yrs of shares (some sold and bought in other company's to spread the risk)...with no mortgage and a sensible lifestyle,I think at 50 that's not a bad deal to go for.
Old pension scheme member (me included)can draw their pension at 50 after leaving the company,its reduced for early payment but that suits me fine,no point waiting till I am 65 to get the full amount when I can have Half of it 15 yrs earlier
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saitoman,half of your pension at 50 sounds good but surely your 30 years service would now count as 15 years.Have a good think about it.
Having said all that I’ve just made a great case for a buyout...lol
Just to qualify my recent posts. I’m retired now so don’t get real time info just secondhand. Plus have a copy of all the recent pension and contract changes requested by a mate.
There is more than expected in there. For instance the reduced actuary reduction that many fell for is only temporary for a year. Plus as said there’s the removal of pension rights regarding redundancy and sick. And I think others are right about the two years being a maximum not standard.
Whole point is BT have made it a lot simpler and cheaper to exit staff. Plus the option 'take your chances' and have these assurances as a fall back has now gone. And don’t forget they did all this whilst ending final salary and reducing payments all on the back of an artificially inflated deficit.
BT has pulled a blinder on staff and will undoubtedly use it to reduce numbers especially the 'hated' older guys.
They’ve already said a reduction of 25% is imminent and 'coincidentally' that will cover the dividend. So within a year the wage bill could be £1.5bn cheaper.
Plans are afoot mark my words!
Dont forget, none of us know for sure why the share is now a "Quid", is there something amiss, been a while since the last scandal type bomb shell, Im sure its sinking for one particular reason we dont yet know, all the speculation and little bits of information thats available at the moment dont seem to add up to its current demise. Im holding and hoping, good luck to all the staff, my old lot even had you down to 9 months money tax free which equates to a years wage, not quite the years money you think it is when they rush you through the thank you for your devoted service goodbye door.
Faults FYI This used to be the case from the late 80s, £200-250 of shares a year held in trust for 3 years, under similar rules to a share save scheme, it was called Allshare. It was ended in the late 90s 2000s to be replaced by free BroadBand and later free BT TV, Who saved money there then !!! I know which the staff would have preferred !!!
As they say " theres nothing new, just re packaged to look new"
Having said all that,on a positive note,I think there is real value in this share now.With the rollout of 5g and FTTP taking off,with a little catalyst added after the brexit is sorted and this will fly again.Under £2 is good value with the current divi being held as well.I am really positive for BT's future and what they will provide us all with ,its just not good to work for if you are older than 50..thats all.
Agreed Faultsman,We all know we are marked men after the age of 50 anyway,that's why I am ready to leave,and BT know this,it was mentioned in my APR.For info any Section B or C old pension scheme member (me included)can draw their pension at 50 after leaving the company,its reduced for early payment but that suits me fine,no point waiting till I am 65 to get the full amount when I can have Half of it 15 yrs earlier." yrs redundancy from the new pension scheme I think is good value as there was no chance of enhanced pension terms anyway,and hasn't been for over 20 yrs so a 2yrs deal for compulsory is a bargain...but as I say..this wont happen as BT operate a divide and conquer attitude to the over 50's to push them out.I have done 30yrs service,and am quite proud but this counts for nothing in BT's eyes as they want me to jump before being pushed..not a nice feeling for anyone.I am a totally normal employee,not a lazy time waster as some might think(from other gossip),but its a progressive operation body-line, to quote a phrase from the past on anyone deemed too old for the new employee terms and conditions.New employees are taken on on disgustingly cheap contracts which makes up oldies a target even more and creates tension when working side by side on the coal face with different pay and conditions for the same job...divide and conquer etc...
Crikey, sure am glad I'm out of it - starting to sound like 'will the last man leaving the building please put the lights out' !?!?
However, from an investors perspective (current hat) - it all sounds like some serious cost cutting which has got to benefit the bottom line - as long as it's not (noticeably) at the cost of a depleted standard of service to the client?
Made a decision last night - if this breaches 190 next week I'm going in big - in tranches, as if it does breach 190 then 180 looks just as likely.
If I miss it then I've still got my current BT holdings via Investment Trusts (all bought below 210) - so relatively chilled here.
All IMO of course
They arent job losses if you take the money and leave voluntarily and sign a non disclosure, its voluntary to sign the non disclosure, only thing is you wont get the money unless you sign. Express an interest and get turned down then the company know you are no longer wanting to work for them, and then the fun from above starts and you become a the highest priority target until you fold. That is how the big boys roll.
I know 2 managers in OR who have taken vol redundancy both getting £38k. The new changes are happening and one OM will cover 2 areas. Then 3 supervisors will be employed per patch. Personally it doesn't make sense right now but I'm sure once the supervisors bed in then the manager job will go. IMO.
For info,the new compulsory redundancy terms are 2 yrs money,no enhancement..etc from the new pension as you say.But that's only a hypothetical safeguard as BT don't do compulsory,they do voluntary redundancy with about a years money.This is why i picked up on your post Pacy..I thought you had seen a recent email about it all.The new CEO is brewing something but denied the 25000 job losses last month..Is this totally new in the last two days or is it old news you are referring too.I had no email from wed 22nd last week telling me any different.I am on AL now for 10days.
Forgot to say lots worried as excellent compulsory redundancy terms lost in last years pension changes. No more enhancements or early pension payments. This safeguards the pension deficit increasing.
Add this to Openreach employees now separate and room now to remotely staff cheaply.
A plan is cooking
Faulty , been told fight underway as Openreach not guaranteed the shares. Different company
Rxdav you have a good weekend too
Seem we have a few things in common. Grammar school and early retirement..lol
pacemaker1000: If it wasn't you with whom I had a ding dong about Brexit and the sad story of steel workers in Scunthorpe I apologise in advance (it could well have been one of many others). However, the basic precept was that the steelworkers woes (redundancy due to closure) was somehow Brexit related - I argued a contrary position - unfair Chinese competition - and so it went on.
Point is I just saw this article on the subject - https://www.bbc.co.uk/news/business-48348846 - and the word Brexit isn't mentioned once (what a rarity) in the rationale and narrative as to why all these poor buggers will soon be out of work - and I am truly and genuinely sorry for these poor folks (and this is the British Biased Corporation reporting this) - so it must be true eh!?
Moving on, part of me feels sorry for May - she was dropped in the shit by that spineless turd Cameron (who conveniently then disappeared from public view - what a ham shanker). Conversely, nobody put a gun to her head to apply for the job - so, if you can't take the heat.....etc.
What a strange old world we live in - seems whoever you are, or whatever you are - you're damned if you do and damned if you don't these days. Old farts like me remember the good old days when there were simply winners and losers - sounds trite - but the world seemed to turn much more smoothly as a consequence.
Anyway pacemaker (and I hope that's just a handle - not a reference to a medical condition? ) whatever we say or do the sun will still rise tomorrow (hopefully) - trick is to be breathing when it happens eh !?
Have a good long weekend (it's just SOP for we retirees - I still find it hard to believe I was fortunate enough to retire (with a cracking index linked pension at just turned 51)) - just in the right place at the right time - not smart, just lucky.
Suspect my kids and grandchildren will be looking at 20 years plus thereafter for the same pension rights? Would I exchange my golden pension to be twenty years younger - course I bloody would - you'd have to be a total dickhead to say otherwise. However, given that none of us can reverse time - not a bad old situation in which to find myself if I'm honest.
Funny old thing is - and when you know the grim reaper (who gets us all sooner or later) will soon come knocking - I'll have put a shed load of dosh onto my family - having started life with next to bugger all. Just a lad from the sticks who passed his 11+ and made it to Grammar School - and all the benefits that brought to my life and that of my now family. I still find it hard to believe I've done so well (relatively - as all things are) given my seriously humble origins (how many of you guys drew water from a well to drink - I did as a kid, it was my job - and I'm still only 65) - Dad was a Joiner and Builder, Mum a mill worker - so folks it can be done - the dream can become a reality if you get off your arse, have a brain and prepared to work hard
And the conclusion - life is short - enjoy
Oh, but they cant cash them for 5 years, strange coincidence there giving them away when they are at the lowest they been for a long time, something smells fishy
Again, nothing new, keep up with the times chaps. The new suit wants the workforce reduced to 75k over next 3 years. but dont worry all the staff are to receive a £500 share reward to alleviate that fact,