Who messed up the Software ???
Highway robbery on the quiet. Government taken up to £80,000 out of your wallet?
Highway robbery on the quiet
1 May 2010 Corporate Adviser
The public would be outraged by the changes to state pension if only they knew what it was costing them, says Teresa Hunter
What would the ordinary man in the street say if you walked up to him and told him that the Government had just taken up to £80,000 out of his wallet?
No, that’s not part of the party political broadcasts currently being shouted from the roof tops. Indeed I bet scarcely anyone hit by the change to their pension has a clue what is happening.
Worse still. I wonder how many advisers are up to speed with the full implications of all the latest reforms to the state pension, which came into force last month. Indeed, how many could put hand on heart and be confident of accurately calculating someone’s full state pension entitlement? Pretty few, I’d guess. Well, they had better wake up fast, because many of their clients’ state pension expectations have just sustained a hammer blow, with the phased removal of any salary-linking. Anyone engaged in planning or advising individuals or companies on pension matters should recommend every employee now requests a state pension forecast as a matter of urgency.
Then they can alert their clients to the need to contribute more. Will it happen? It might, when the sun rises in the west, as the Chinese say.
So what are these changes? The first raft, and better publicised changes hit women. The age at which they will get a state pension will rise from 60 to 65 by 2020. However, another change will make it easier for them to receive a full basic state pension, when they finally qualify for one.
Anyone can now qualify for a basic state pension after making national insurance contributions for 30 years, rather than the 39 for a woman and 44 for a man, previously required.
It’s anyone’s guess whether women will be better or worse off. Some will be and some won’t, but crucially, they will either have to work longer or save more to replace the lost state pension.
Having something taken away that you didn’t know you were going to get doesn’t seem that big a deal. But it is highway robbery nevertheless
Also worth pointing out is that raising women’s pension age to 65 saved the Government considerably more than improving the terms on which it was finally paid. Overall then, women lost out, which implies a gap to be filled. The other big gap though resulted from almost unknown changes to the second state pension, formerly called Serps (the State Earnings Related Pension), and now renamed as S2P. This could cost some employees the loss of £3,000 in retirement, which will cost £80,000 to replace out of their own pockets.
It would seem that the Government’s ultimate aim is to do away with it completely. Any link to earnings is being phased out so that we all get the same, with the longer-term intention presumably of merging S2P with the basic pension to provide a flat payment for all.
nitially, these changes only affect pension arrangements which are contracted into the state scheme, which these days most are. However, from 2012, all pensions will be required to be contracted back in with a few exceptions. Final salary schemes have been exempted from the new arrangements.
The change is significant, as the S2P, was worth up to £140 per week on top of the basic state pension for anyone earning about £40,000. The plan is that it should be capped at £80 per week, but paid at that level to all. This is being achieved in a series of steps. Last year the Government introduced a cap of £40,040 on eligible earnings. Last month, a new ceiling of £31,800 was introduced, penalising anyone earning above this level.
People do not know what they will get from the state at retirement, and find the calculations impossible. Having something taken away that you didn’t know you were going to get doesn’t seem that big a deal. But it is highway robbery nevertheless, and advisers need to get their act together, and work out how they are going to get the message across. The best place to start is by ordering those pensions forecasts immediately.
Only when state pension entitlement is taken seriously will the public fight to protect it.
Search JULIAN BRAY AVIATION SECURITY BLOG
JULIAN BRAY ++44(0)1733 345581 BROADCAST ISDN ++44(0)1733 345 020 all codecs
MOBILE: 07944 217476
AVIATION SECURITY EXPERT, AIRLINE OPERATIONS & NATIONAL SECURITY ISSUES.
BROADCASTER, COLUMNIST & JOURNALIST. NUJ & FULL EQUITY MEMBER.
IMMEDIATE LIVE BROADCASTING VIA OWN ISDN COOBE, STUDIO & HIGH SPEED BROADBAND SKYPE
ISDN +44 (0) 1733 345020.
OFFICE +44 (0) 1733 345581
AVIATION & CRUISE, MARTIME INCIDENTS, SAFETY ISSUES, TRAVEL THREATS & PERILS, TERRORISM ISSUES, WORLD TRAVEL & INSURANCE COVER ISSUES, CONFLICT ZONES, LONDON RUNWAY, FEATURES & CORRESPONDENT RESEARCH PACKAGES. NATIONAL & LOCAL POLITICS, LAW & ORDER, LITIGATION SUPPORT.
"Adept at holding national and international politicians and business people to account, has a 'Marmite' but considered approach to politics and always well prepared" Iain Wilson
Julian Bray broadcasts and comments via ISDN +44 (0)1733 345020 (GLENSOUND C5 Dual Codec), VoIP and SKYPE >>> JULIAN.BRAY.UK <<< mobile 07944 217 476
BBC Contributor 10476453
LANDLINE number in the UK is +44(0) 1733 345581 Use this number to pre-brief or to book link.
TELEVSION AND RADIO LIVE INTERVIEWS AND CONTRIBUTIONS
RUSSIA METROJET, GERMANWINGS, MH17 INCIDENTS and other RECENT TV NEWS & RADIO AUDIO FEEDS
LASER PENS BBC NEWS
https://www.rt.com/op-edge/323287-su24-fighter-russia-turkey-syria/ Scroll down final VT
http://www.cbc.ca/i/caffeine/syndicate/?mediaId=2685621754 AIR DUBAI CRASH MARCH 2016 Television 2-way with CBC Canada via 'upmarket' SKYPE
https://ca.news.yahoo.com/video/plane-circled-airport-bad-weather-110053170.html AIR DUBAI CRASH 19/03/2016 Julian Bray first reaction
Julian Bray Broadcaster Radio Podcasts Selection
CargoLogic Air load one of their mega all cargo aircraft. In addition to purpose built frighters, many end of first lease, state-of-the-art wide-bodied passenger aircraft are currently being snapped up and rapidly re-purposed for all cargo operation. As the 21st Century trend is away from airport hub/spoke operation - apparently Heathrow [LHR] is yet to get the memo… -and towards single aisle narrow bodied passenger/cargo hold aircraft, working point to point schedules continues apace ...
JULIAN BRAY ++44(0)1733 345581
Illustrated Convention Lectures & Workshops, Keynotes, Broadcast Briefings, Media Presentational Training, Aviation Security and Operations Incident Management Consultancy
(ISDN BROADCAST LINK ++44(0)1733 345 020) all codecs G.722 & ATX Developed for use in ISDN remote broadcasting, G.722 is the original wideband speech codec to be standardized by the ITU-T. By sampling the speech signal at 16 kHz, G.722 more than doubles the encoded speech information, providing richer sound and better clarity than narrowband speech codecs. ( (ISDN2 BT BOX INSTALLED AT HOME: LIVE LINKS AVAILABLE AROUND THE CLOCK )
Book slot on landline 01733 345581
Mob: 07944 217476 http://www.aviationcomment.com/ E&OE
COVERING TRANSPORTATION & ASSOCIATED POLITICAL ISSUES IN ALL FORMS plus RELATED INDUSTRIES including AEROSPACE, COMPUTER NETWORKS, RAIL, AVIATION, CRUISE, FERRIES, MERCHANT MARITIME, MILITARY, TRAVEL & HOLIDAY INDUSTRIES, CAA REPORTS, TERRORISM & SABOTAGE, COMPUTER MISUSE & SYSTEM FAILURES, TRAVEL AGENTS, ATOL ISSUES, CIVIL & COMMERCIAL AVIATION. AIRSHOW ORGANISATION & LOGISTICS.
Contact numbers 01733 345581 OR Trusty Nokia Mobile: 07944 217 476 OFFICE: 01733 345581 and answerphone email: email@example.com
BROADCAST ISDN2 LINE: 01733 345020 ISDN DIGITAL DIAL-UP only. [ BH VENDOR #10476453 add PE28xl ]
SKYPE: JULIAN.BRAY.UK (directly wired Ethernet connection on high speed Virginmedia cable) ALSO GLENSOUND ISDN GSGC5 ISDN LOCATION UNITS FOR PROFESSIONAL DRY HIRE
Julian Bray provides: Opinion, comment, forward thinking speculation, keynote presentations and workshops for corporate organisations on Travel, Cruise & Aviation: conflict zones, terrorist impact, cybercrime and DoS issues, drone (UAV) issues, safety (black boxes, emergencies), airline operations, aviation finance, political implications, and all forms of incident risk.
He operated at board level with several airline and aviation groups, including Alitalia, British Island Airways, British Airways, Galileo , British Aerospace, Skyways, former CEO City firm Leadenhall Assoc. (PR WEEK TOP 150) Founder CNS City News Service. Director NTN Television News (joint co. with ITV Wales TWW) Debretts People 2017 and featured in launch edition of the PRWeek Black Book. Investigative Journalist and Broadcaster.
After-dinner speaker and presenter. NUJ LIFE MEMBER & FULL EQUITY MEMBER.
Direct links to a selection of television and radio contributions can be found at foot of this page. Scroll down. Join the conversation here or on Twitter at @aviationcomment @julianbray.
A retweet, comment or other publication by any means does not constitute an endorsement. Quoted Content subject to creditline 'Julian Bray' . During career an active MCIPR, MMC & MBDS.
Main UK telephone and prime contact number 01733 345581.
Mob: 07944 217476
ISDN2 Loop Test (by arrangement) 01733 345020
Download the new CAA DRONECODE HERE : http://dronesafe.uk/wp-content/uploads/2016/11/Dronecode.pdf
Glensound GSGC5 ISDN LOCATION (COOBE - FLYAWAY) COMMENTARY UNITS/COLES LIP MICS FOR PROFESSIONAL HIRE
VIDEO PROJECTOR & SMALL FORMAT PUBLIC ADDRESS/ MUSIC PLAYOUT HIRE
BBC LOCAL NEWSROOMS
The Small Print...
TERMS & CONDITIONS
This is the small print, demanded by the legal eagles, we've tried to keep it clear and simple, this is in addition to, and not in the alternative to the NUJ Code of Professional Conduct.
- The content this website is for your general information and use only. It is subject to change without notice.
- Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors, we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.
- Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements and you have made your own independent enquires as to the content..
- This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than for review purposes, or where specific permission has been granted, for example in connection with a commission or contribution supported by a written contract and any terms in accordance with the copyright notice, which forms part of these terms and conditions.
- All trademarks reproduced in this website, which are not the property of, or licensed to the operator, are acknowledged on the website.
- Unauthorized use of this website may give rise to a claim for damages and/or be a criminal offence.
- From time to time this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the linked to website(s). We have no responsibility for the content of the linked website(s).
- E&OE Errors and omissions excepted. Use of quoted content subject to creditline: Julian Bray, broadcaster.
- Writers P.I. & P L I. # WRT001966
David Cameron, the former Prime Minster for the UK opens Farnborough 2016 - a week is a long time in UK politics! ALA, Italian spec...
Julian Bray writes: The Royal Caribbean Cruise Ship Explorer of the Seas had it not craftily diverted to Malaga and Lisbon for two overnigh...