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dorfan
in 2015 DWP carried out a foundation assessment. I had accrued about £30 per year in serps and s2p.
This meant that my pension was forecast to be slightly below the proposed new state pension and I got uplifted by about £1. If I had accrued more than £30 in serps/s2p the higher total would have continued and been above the level of new state pension.
Anyone in a db pension probably paid insufficient into the state pension and was liable for a deduction to their forecast.
You can see it as robbery, or very clever timing to bring in a popular higher pension while absorbing a lot of existing commitments.
I would imagine existing pensioners with no serps/s2p/gmp extras, who didnt get any increase at all, might well have felt they had more to complain about.
dorf
"So there was no benefit to paying into serps in the past"
unless you accrued an amount which was more than the new state pension, in which case you still get it.
everyone else (apart from those already retired) was uplifted to the new rate whether they had paid serps or not.
So some people believe they contributed serps needlessly, others should be glad they did. Personally I think the existing pensioners took the biggest hit.
dorfan
Many people had serps contributions that took them over the amount of the new state pension award. Those people get their additional benefit preserved. Many others, myself included, had paid in to almost match the new rate, but not quite. That was absorbed instead of continuing as an additional benefit. This saved them an awful lot of money. Raising the retirement age twice since starting my career is also an issue.
S1
The differences are less extreme over the last twenty years.
https://www.statista.com/statistics/1106852/share-of-mortgage-payment-from-income-united-kingdom-first-time-buyers-and-former-owners/
Spights @ 13:52
Dr James Fox deserved a credit when you copied and pasted his article.
I am happy with the outlook for Lloyds but feel the biggest risk is impairments. I don't think these will emerge at scale until all the credit cards and overdrafts are maxed out. People will pretty much do anything to pay their mortgage. Not a reason for me to sell, I just remain cautious on the economic environment.
"Did the sellers imagine that the end of the world was being started"
There is logic in so much that markets react and over react. There was a lot of fear about a global pandemic with uncertain trajectory. Its inevitable banks would be highly sensitive to that.
A lot of people lost loved ones as a result of COVID. It would be good to try and continue with the recently improved levels of respect for one another on this board.
hardup, theres a bit more info here
https://www.propertywire.com/news/citra-living-opens-pathways-to-home-ownership/
it's reported as a "trial" - 26 houses in Derby.
I think it would be a mistake to offer this on flats though.
1.6p my guess if its twice the interim. I'm not expecting (or wanting) a special. 20% increase div forecast for 23/24 i think sustainable increases are key, not one off windfalls
Hesitate to say the b word but I don't know if this was already put up:
https://www.proactiveinvestors.co.uk/companies/news/1003839/lloyds-banking-poised-to-unveil-materially-higher-share-buybacks-for-2023-and-2024-analysts-1003839.html
logg
Let's hope they pore over the results by studying them intently, instead of giving a cursory glance and then pouring scorn over them.
Mistakes in published articles seem to happen so frequently. Who cares about spelling? Computers innit....
sufc
https://www.vanquissavings.co.uk/1-year-fixed-rate-bonds/
includes monthly interest option
so yesterday I posted on the Citra thread:
"And you can add Cramlington (North Newcastle) to the list of exotic locations. Im sure all of them are equally as beautiful as Bristol. Lloyds have said they are building high spec, highly insulated flats and houses to let. They will have starting point of an EPC of C or higher which means they immediately steal a march over many other landlords. They will have lower heating costs than your average private rental; tenants will like this. As a private landlord there is no risk of right to buy in the Council home sense. But if you think about it, I hope Lloyds do consider offering longer leaseholds or conversion to leasehold ownership after renting - it would be an ideal market for people to target tenants who have become wealthy enough to buy. They could afford to offer discount to long standing tenants. It brings so many opportunities for secondary marketing and no change in risk levels. Most council right to buy is not freehold but 100 or 125 years lease; its like paying your rent in advance. This will suit some people who want to be protected from maintenance costs and can then sell on, or sell back the remainder of lease when / if they move.
They are targeting middle income earners - I think it is a good strategy although they will find it a challenge to execute it all on time and on plan before they can be regarded as serious contenders for UK biggest landlord."
Two hours later I get this reply from Plato:
"67Sam, we are living in cloud cuckoo land if you are a PhD educated prick like myself. There are people who were brought up fist fighting and wheeling-and-dealing from the age of 9, and they could run circles around me (and probably around you) - and that's capitalism for you - a lot of people welcome it and are on their side"
This board is unusable. It just seems to attract people with mental health problems who don't have any interest in Lloyds.
"Ashford, Brentwood , Bedford. Bristol, Chesterfield, and Peterborough"
And you can add Cramlington (North Newcastle) to the list of exotic locations. Im sure all of them are equally as beautiful as Bristol. Lloyds have said they are building high spec, highly insulated flats and houses to let. They will have starting point of an EPC of C or higher which means they immediately steal a march over many other landlords. They will have lower heating costs than your average private rental; tenants will like this. As a private landlord there is no risk of right to buy in the Council home sense. But if you think about it, I hope Lloyds do consider offering longer leaseholds or conversion to leasehold ownership after renting - it would be an ideal market for people to target tenants who have become wealthy enough to buy. They could afford to offer discount to long standing tenants. It brings so many opportunities for secondary marketing and no change in risk levels. Most council right to buy is not freehold but 100 or 125 years lease; its like paying your rent in advance. This will suit some people who want to be protected from maintenance costs and can then sell on, or sell back the remainder of lease when / if they move.
They are targeting middle income earners - I think it is a good strategy although they will find it a challenge to execute it all on time and on plan before they can be regarded as serious contenders for UK biggest landlord.
"Lloyds Banking Group’s pension scheme sold billions of pounds of assets to meet collateral calls during September’s market crisis, one of the biggest known sell-offs by a corporate plan"
https://www.ft.com/content/c6408f41-c4ba-46b0-acb3-b7d2c43d48ef
Yes, let's hope all the extra money earned from interest on deposits at BoE helps offset this. Imagine the dividend in years ahead without always having to be paying out for one or another past mistakes.