did my figures on the new entrant (post 04)
That was a revelation that struck me over the Christmas and that I posted on here…
I didn’t as the website didn’t provide an option. Post 04, same as art.
I have. Back of an envelope level calculations but for the extra bit in the lump sum and modest annual increase in the pension I don’t think it’s worth the cost.
I know you jest but it is a question that need answering. See below.
That said, all self-driving cars aren’t created equal. There are currently several levels of self-driving vehicles, and not all of them are fully automated. In fact, back in the U.S., the [National Highway Traffic Safety Administration] designates six levels of automation in all:
- Level 0 — No Automation: The human driver does all the driving.
- Level 1 — Driver Assistance: An advanced driver assistance system (ADAS) on the vehicle can sometimes assist the human driver with either steering or braking/accelerating, but not both simultaneously.
- Level 2 — Partial Automation: An ADAS can control both steering and braking/accelerating simultaneously under some circumstances. The human driver must continue to pay full attention (“monitor the driving environment”) at all times and perform the rest of the driving task.
- Level 3 — Conditional Automation: An ADAS can perform all aspects of the driving task under some circumstances. But in these circumstances, the human driver must be ready to take back control at any time when the ADAS requests them to do so. In all other circumstances, the human driver performs the driving task.
- Level 4 — High Automation: An ADAS can perform all driving tasks and monitor the driving environment — essentially, doing all the driving — in certain circumstances. The human need not pay attention in those circumstances.
- Level 5 — Full Automation: An ADAS can do all the driving in all circumstances. The human occupants are just passengers and need never be involved in driving.
Everything but Level 5 (Full Automation) still require a human driver — the so-called “fallback-ready user” — to be capable of taking the wheel if the need arises. This, of course, is tough to do if you’re bombed. In January, for instance, a man driving an electric car with advanced autopilot capabilities that would fall under Level 2 (Partial Automation), was [found passed out behind the wheel on the Bay Bridge] with a blood-alcohol content twice the legal limit. The driver allegedly told the California Highway Patrol officers who arrested him that everything was fine: The car was on autopilot.
Fairly sure boxty got his hypothesis from me. 29 years I reckon.
Casey’s furniture are making too much money selling overpriced wooden tables for people to photograph their craft beer on. They won’t allow the pub industry to recover without a fight.
Ah you’re on the older scheme so! No need for avcs so
The banter in auditing circles used to be if you’re auditing a DB scheme and doesn’t have a deficit, don’t audit it, join it.
Ha ha ha.
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It wasn’t funny then either.
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Oh no I’m definitely on whatever the newest worse scheme is, just the site only gave a two options that I could see.
You are years behind
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A regular topic of debate.
Pension is no 1 option
But overpayment say at 3% rate on mortgage (probably low over life of it) gteed compounded return with no tax implications I can see why its attractive
The investment fund is OK and better than deposit. I have one each for kids but its after tax money, invested with no guarantee, and taxed again on the way out. Its not without its drawbacks
If you could knock 10 years off your mortgage by overpaying then you would have for e.g. 1k a month for 10 years… 120k of a lump sum built up from not paying it at the back end…and at a time when you maybe most need it close to retirement etc…
Its also a factor that a lot of people would like to retire at 60 or at least step back from full tilt but wont get pension for another 6 years… Early repayment of mortgage goes a long way to facilitating that
Key downside in overpaying is lack of liquidity in getting the overpayment back if you badly need it
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@glasagusban if you are on Instagram there is an account there called askpaul now… He is a financial advisor
If you can get past the strong Dub accent and the cheeky chappy persona I think he gives really good practical advice on his account in a straightforward way. Lot of saved highlights with details around investment funds etc
He’s obviously not a completely independent voice in that he is selling himself, and would like to sell you some investment products… But well worth a look IMVHO
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I had a call with a pension adviser today as it happens I have 3 old work pensions apart from my current one he’s going to package them into one ARF and I will have access to withdraw 25% tax free from when I am 50 up to when I am 70 and draw down the rest as an income stream. Had a good chat today and agreed on the investment portfolios I will be going into based on my risk profile. It will transfer to my missus if I croak it first as opposed to an annuity which dies with you. He got my authorisation to contact the 3 pension providers and the current balances are a lot more than I expected, that said markets have performed strongly over the last 5-10 years. Good to have them all packaged up under one provider now though.
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Well worth doing that. The point about the ARF though, at the moment you don’t have an annuity… You have a pension fund … You only buy an annuity when you retire and access your pension… So what happens your existing pension fund with your employer if you do most likely there is insurance on your life as part of it and also your wife would get an income from it
It’s also worth keeping some of your pensions apart… If you are made redundant in your 50s you can access some of your pension funds tax free… In that situation worth having pension funds in couple of places because you can crack open one and let the other one alone…
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You’d want to live to be a million to get value with an annuity.
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Yep…there is a death in benefit with my current employer with an income stream for the spouse. All a bit morbid but better to have your affairs in order I suppose.
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