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Jul 2020
11:56am, 10 Jul 2020
80 posts
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bja61
That's good news Snoot, sounds as though it was well worth persevering!
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Jul 2020
12:05pm, 10 Jul 2020
18,838 posts
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Angus Clydesdale
~ rant on ~
It always annoys me (only slightly) when they refer to the Armed Forces Pension Scheme as being non-contributory. It’s true that you don’t have to pay in to it, but it’s a conveniently overlooked fact that every year when the Pay Review Body look at pay, one of the items they use in mitigation against a pay-rise is the value of the pension scheme. So you do end up contributing through lack of pay-rise.
~ rant off ~
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Jul 2020
12:07pm, 10 Jul 2020
50,890 posts
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Diogenes
I have all my payslips going back to 1987
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Jul 2020
12:08pm, 10 Jul 2020
57 posts
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Stander
I ditch my yearly payslips once I have that year's P60
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Jul 2020
12:09pm, 10 Jul 2020
18,840 posts
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Angus Clydesdale
No big surprise to see that politicians have their snouts well and truly deep in the trough long after they’ve stopped “serving” the community.
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Jul 2020
12:50pm, 10 Jul 2020
17,214 posts
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GimmeMedals
I have kept all my payslips since I started working full-time in 1988 - my dad advised me to as he said you never know when you will need the information in an age when not everything was on a computer system somewhere.
I sympathise with you  G re: the financial implications of divorce. MrGM and I met in 2002 and basically were both starting from scratch after handing over significant amounts to our previous spouses (before we met!). We had both got our respective houses but no savings. Fortunately were both in jobs with reliable pensions. So since 2002, we have focussed on paying off the mortgage early, which we were able to do when Mr GM took early retirement when he was made redundant from the steel works when he was 55. If I hadn't gone for promotions, I wouldn't be able to afford to retire until I was 63 so would need to work for an extra 8 years.
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Jul 2020
1:16pm, 10 Jul 2020
51,067 posts
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GlennR
There is no such thing as a non-contribution anything when it comes to pay and taxation, it's all window dressing. To work out your 'true' salary, take the basic pay and add both employers' pension contributions and employers' national insurance.
The reason I care is that this has to be done when making international comparisons on pay and taxation.
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Jul 2020
1:23pm, 10 Jul 2020
7,827 posts
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jda
Cost of living factors into that too. We did very well out of living abroad for a while in a nominally expensive country (Japan) on what seemed like moderately generous salaries but with a number of great benefits (primarily, a house) and such a small tax rate I could never get my head round it.
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Jul 2020
1:51pm, 10 Jul 2020
35,062 posts
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Nick Cook
I retired in November at 62 when we were told Jan's cancer had spread to her brain and we should think about things we wanted to do, and do them. Unfortunately, she deteriorated quite rapidly and I was looking after her until she died in February.
I'm getting a small pension that I'd forgotten about and a reduced NHS pension that Jan was getting. Jan had more money stashed away than I knew about, and I've got a reasonable amount in pension pots, so I'm staying retired.
I had a review with my financial advisor and I should be able to manage comfortably until my late 80s. I could also downsize the house if I needed to.
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Jul 2020
2:23pm, 10 Jul 2020
58 posts
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Stander
When my wife died (with almost no life insurance), I learnt very quickly how to live with earning a lot less and spending a lot less. It was six months of major stress working out a stable financial position - let alone having the deal with the loss and suddenly being a single dad.
Granted, as a single father with a young disabled child, I was eventually able to rely for once on the state to a large (but by no means total) extent financially.
I am well past needing that temporary financial crutch, but the need at that time to look at what I spent and what I earn has stuck and with other life changes (e.g. moving from the house I had brought 17 years earlier), I'm really looking forward to full retirement for my new wife (who will be 52 then) and possible partial retirement for me at 55.
Shit happens, but there is sometimes some good that flows from our misfortunes.
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