Big Ramy 1314 Posted April 15, 2023 Author Share Posted April 15, 2023 1 minute ago, Dave78 said: Your missus is a stunner Ramy. Though i'm surprised she married someone as short as you. Are you standing on a box? Enjoy your retirement big yin! Cheers mate. She is a wee bit shorter than me..😉 Quote Link to comment Share on other sites More sharing options...
EddardStark Posted April 16, 2023 Share Posted April 16, 2023 I have a unit lifestyle pension which moves to a less risky portfolio in about a year. Half tempted to seek financial advice about moving it elsewhere but I am paranoid about being taken for a mug. Quote Link to comment Share on other sites More sharing options...
SamP Posted April 16, 2023 Share Posted April 16, 2023 1 hour ago, EddardStark said: I have a unit lifestyle pension which moves to a less risky portfolio in about a year. Half tempted to seek financial advice about moving it elsewhere but I am paranoid about being taken for a mug. Take advice. I took early retirement last year. Bought a flat outright in Fife. Have a good pension and working 4 days a week. As long as I don't exceed what I was earning at retirement it doesn't affect my pension. Best move I ever made. Quote Link to comment Share on other sites More sharing options...
TDYER63 Posted April 16, 2023 Share Posted April 16, 2023 2 hours ago, EddardStark said: I have a unit lifestyle pension which moves to a less risky portfolio in about a year. Half tempted to seek financial advice about moving it elsewhere but I am paranoid about being taken for a mug. Its a bit of a minefield so can understand your reluctance. Thankfully the sector is regulated much better now , but even so it’s difficult to know who to turn to. A lot of advisors are tied to particular companies, you do not want that restriction. If you are over 50 you are entitled to a 1 hr free session. This is government backed and might give you a start. https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise/understanding-what-pension-wise-is-and-how-to-use-it Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 17, 2023 Author Share Posted April 17, 2023 On 4/15/2023 at 6:25 PM, phart said: There's a lot of questions in that picture , but i'll stow them for another time. Have a good evening! 🤣🤣. I get that all the time mate... Quote Link to comment Share on other sites More sharing options...
Squirrelhumper Posted April 18, 2023 Share Posted April 18, 2023 On 4/15/2023 at 10:20 PM, Big Ramy 1314 said: Pre retirement night out with Mrs.Ramy... One week it's official !! 🫡🫡✈️ Make sure you look after my wee pal Mr Hainey. He might need a shoulder to cry on in a month or so if our team doesn't get their finger out their arse. Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 18, 2023 Author Share Posted April 18, 2023 2 minutes ago, Squirrelhumper said: Make sure you look after my wee pal Mr Hainey. He might need a shoulder to cry on in a month or so if our team doesn't get their finger out their arse. Was speaking wae him on the weekend SH. He is shitting it, but he is keeping the faith... I will pass on your regards big man..👊🏴 Quote Link to comment Share on other sites More sharing options...
Squirrelhumper Posted April 18, 2023 Share Posted April 18, 2023 15 minutes ago, Big Ramy 1314 said: Was speaking wae him on the weekend SH. He is shitting it, but he is keeping the faith... I will pass on your regards big man..👊🏴 Good man Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted April 18, 2023 Share Posted April 18, 2023 I need to find someone to give me some pension advice. Got made redundant a couple of years ago and the company scheme I'd been paying in to for the best part of 20 years has dropped around 20% in value since I stopped paying in to it. Granted that's coincided with Covid and the Russia/Ukraine war so maybe to be expected however my new company scheme value is already sitting at around 25% of the value of the old one and I've only been paying in to to it for around 10% of the time! Seems a no brainer to transfer the old one in to the new but have to admit to being a bit clueless in this area and wary of the risk. I've got a financial adviser I use for a few things but typically he does everything except pensions! Quote Link to comment Share on other sites More sharing options...
Barney Rubble Posted April 18, 2023 Share Posted April 18, 2023 (edited) 39 minutes ago, Fairbairn said: I need to find someone to give me some pension advice. Got made redundant a couple of years ago and the company scheme I'd been paying in to for the best part of 20 years has dropped around 20% in value since I stopped paying in to it. Granted that's coincided with Covid and the Russia/Ukraine war so maybe to be expected however my new company scheme value is already sitting at around 25% of the value of the old one and I've only been paying in to to it for around 10% of the time! Seems a no brainer to transfer the old one in to the new but have to admit to being a bit clueless in this area and wary of the risk. I've got a financial adviser I use for a few things but typically he does everything except pensions! First thing is to establish whether your current employer will permit a transfer in to their scheme. In some industries it's becoming increasingly common for employers to close their scheme to transfers from previous employers. Secondly, if your current employer does allow transfers in, then ask your previous employer for a transfer value from that scheme. You are entitled to receive one without any obligation to act upon it should you decide it's not advantageous. Based on that transfer value, your current employer should be able to tell you how many years/months your transfer value will purchase in their scheme. You are entitled to receive that basic information from both employers. None of the above will entail any cost on your part. Once you have a clearer idea of the figures then you will be able to assess the options. Hope this is in some way helpful. Edited April 18, 2023 by Barney Rubble Quote Link to comment Share on other sites More sharing options...
supersub Posted April 18, 2023 Share Posted April 18, 2023 Lucky you Big Ramy. Nearly there mate. All the best in your early retirement Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 18, 2023 Author Share Posted April 18, 2023 4 minutes ago, supersub said: Lucky you Big Ramy. Nearly there mate. All the best in your early retirement Awe thank you pal..🏴😉 Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 21, 2023 Author Share Posted April 21, 2023 I am now officially retired.. This man in the picture was the lad who hired me 36 years ago, and my first gaffer. He came to my retirement today. I was gobsmacked... I am still in disbelief that I am done.. Boys had a big send off for me this morning.. Mrs.Ramy and me catching a flight to Nova Scotia tomorrow, gone for a week of relaxation by the ocean... I may just enjoy this retirement gig...😉✈️🏴 Quote Link to comment Share on other sites More sharing options...
fringo Posted April 21, 2023 Share Posted April 21, 2023 Congrats Ramy and enjoy ! Quote Link to comment Share on other sites More sharing options...
McTeeko Posted April 21, 2023 Share Posted April 21, 2023 Nice one Ramy, enjoy your retirement! 👍🏼🏴 Quote Link to comment Share on other sites More sharing options...
TDYER63 Posted April 21, 2023 Share Posted April 21, 2023 Have a ball Ramy ! 😊🍻 PS . you are a lucky man your wife is beautiful ❤️ Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 22, 2023 Author Share Posted April 22, 2023 20 hours ago, TDYER63 said: Have a ball Ramy ! 😊🍻 PS . you are a lucky man your wife is beautiful ❤️ Thank you TD. Aye, she is a cracker, and 5 years younger than auld Ramy...😉🤣👫 Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 22, 2023 Author Share Posted April 22, 2023 21 hours ago, McTeeko said: Nice one Ramy, enjoy your retirement! 👍🏼🏴 Thank you mate...😉🏴 Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 22, 2023 Author Share Posted April 22, 2023 21 hours ago, fringo said: Congrats Ramy and enjoy ! Awe cheers Fringo. 😉🏴 Quote Link to comment Share on other sites More sharing options...
RDFH64 Posted April 22, 2023 Share Posted April 22, 2023 On 4/18/2023 at 3:30 PM, Fairbairn said: I need to find someone to give me some pension advice. Got made redundant a couple of years ago and the company scheme I'd been paying in to for the best part of 20 years has dropped around 20% in value since I stopped paying in to it. Granted that's coincided with Covid and the Russia/Ukraine war so maybe to be expected however my new company scheme value is already sitting at around 25% of the value of the old one and I've only been paying in to to it for around 10% of the time! Seems a no brainer to transfer the old one in to the new but have to admit to being a bit clueless in this area and wary of the risk. I've got a financial adviser I use for a few things but typically he does everything except pensions! He surely knows advisors who he could recommend 🤔 Quote Link to comment Share on other sites More sharing options...
RDFH64 Posted April 22, 2023 Share Posted April 22, 2023 On 4/21/2023 at 4:56 PM, Big Ramy 1314 said: I am now officially retired.. This man in the picture was the lad who hired me 36 years ago, and my first gaffer. He came to my retirement today. I was gobsmacked... I am still in disbelief that I am done.. Boys had a big send off for me this morning.. Mrs.Ramy and me catching a flight to Nova Scotia tomorrow, gone for a week of relaxation by the ocean... I may just enjoy this retirement gig...😉✈️🏴 Enjoy your retirement Ramy 👍 Quote Link to comment Share on other sites More sharing options...
euan2020 Posted April 22, 2023 Share Posted April 22, 2023 On 4/18/2023 at 9:30 AM, Fairbairn said: I need to find someone to give me some pension advice. Got made redundant a couple of years ago and the company scheme I'd been paying in to for the best part of 20 years has dropped around 20% in value since I stopped paying in to it. Granted that's coincided with Covid and the Russia/Ukraine war so maybe to be expected however my new company scheme value is already sitting at around 25% of the value of the old one and I've only been paying in to to it for around 10% of the time! Seems a no brainer to transfer the old one in to the new but have to admit to being a bit clueless in this area and wary of the risk. I've got a financial adviser I use for a few things but typically he does everything except pensions! is that not to do with earnings ? My basic is more in 1 year now than i did in my 1st 10 years of earnings from 17-27 (including taking time value of money into account ) + back then likely 3% contribution then (Nominal) , versus 14-25% contribution just now depending my mood pleae remember that financial consultnats are primarily salesmen - if you complete a lot of research yourself 1st, you will understand the language they use a lot better, rather than having to accept as fact (everyoe is down around 20% just now from around 18 months ago, so sit tight and willl go back up, i think mine has reocvered about 5% this year ) Quote Link to comment Share on other sites More sharing options...
euan2020 Posted April 22, 2023 Share Posted April 22, 2023 On 4/18/2023 at 9:30 AM, Fairbairn said: Seems a no brainer to transfer the old one in to the new but have to admit to being a bit clueless in this area and wary of the risk. I would not make that assumption - could simply be a case of the different types of funds you are invested in - old pension might be UK< and new pension might be Global and UK has performed poorly last 10 years while Global (USA) have overacheived. Personally i do not like Company schemes cos they give a limited amount of funds to invet in - ie My Company only gives chocie of 8 funds, where else if you move pension to a SIPP under iii as an example you will get access to 8,000 funds, and can follow funds with higher performance or lower management fees - its also possible since you left prior company your pension is getting charged standrd fees, rather than discounted employer fees Quote Link to comment Share on other sites More sharing options...
euan2020 Posted April 22, 2023 Share Posted April 22, 2023 On 4/5/2023 at 10:28 AM, Big Ramy 1314 said: Anyone retired lately or retiring soon? I will be retiring from the Ottawa Water Systems, Friday April 21, my 55th birthday. You need to be 55 to qualify for your pension over here. I will retire with 36 years with the City of Ottawa. Bit nervous, been at this Corporation since I was 19 years old. I may work part time to keep busy, fish, kayak, I don't know. Just know I'm excited yet nervous, and apparantly that's normal. So I get 72% of my salary, cheque at the end of every month till the day I die. How does it work in Scotland? Is there a specific age to retire? Just curious.. Cheers.. 🏴👍 good luck - keep your health to make sure you keep on collecting - 72% Final Salary is a good deal Quote Link to comment Share on other sites More sharing options...
Big Ramy 1314 Posted April 22, 2023 Author Share Posted April 22, 2023 2 hours ago, RDFH64 said: Enjoy your retirement Ramy 👍 Thank you pal.. 😉🏴 Quote Link to comment Share on other sites More sharing options...
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