They have a Pension deficit of £500M !!!!!
http://www.stokesentinel.co.uk/news/loc ... st-1146553
Hope Nobody's got a Bentley on Order
911 C2 Pickup 14th April 2018
http://www.porsche-code.com/PJN1HBF2
Pensioner Petrol S - http://www.porsche-code.com/PHMKHZF4 - Deposit place 11/11/14 - Pick up 09/05/16 - SOLD 30/08/17
http://www.porsche-code.com/PJN1HBF2
Pensioner Petrol S - http://www.porsche-code.com/PHMKHZF4 - Deposit place 11/11/14 - Pick up 09/05/16 - SOLD 30/08/17
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- Posts: 1807
- Joined: Fri Jan 13, 2017 12:33 pm
- Location: Warrenpoint, N Ireland
I watched the programme on TV last week on the Bentayga - TBH I thought it looked a LOT like a Carbodies FX4 Taxi! Especially around the front grille.
Macan S D
718 S
718 S
I have my DB pension in there!! [emoji15] as a deferred member though. As the article says, most staff have been in the DC scheme for a long time and firms simply can’t afford these overly generous final salary schemes anymore. Must be alarming though if you’ve been contributing for many years and close to retirement. I presume the outcome may just be closing the DB scheme to new accruals from existing members.
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
No longer part of the Porsche Family. Now enjoying a Giulia Quadrifoglio.
Macan S Diesel delivered Oct 6th 2016. http://www.porsche-code.com/PHI3WP95. Sold March 2018.
Macan S Diesel delivered Oct 6th 2016. http://www.porsche-code.com/PHI3WP95. Sold March 2018.
- Wing Commander
- Posts: 19922
- Joined: Tue Oct 06, 2015 5:43 pm
- Location: Wiltshire
Hawkeye wrote: ↑Thu Feb 01, 2018 9:32 am I have my DB pension in there!! [emoji15] as a deferred member though. As the article says, most staff have been in the DC scheme for a long time and firms simply can’t afford these overly generous final salary schemes anymore. Must be alarming though if you’ve been contributing for many years and close to retirement. I presume the outcome may just be closing the DB scheme to new accruals from existing members.
Many employers have closed defined benefit (final salary) schemes to new employees. Some have 'frozen' DB schemes for existing employees, moving them to new defined contribution/money purchase schemes for the latter years of their service.
Hopefully Bentley will sell lots of cars, making lots of profit to reduce the current pension shortfall.
To be fair though, most large schemes have a shortfall at present.
Simon
Sold: 2016 Rhodium Silver Macan 2.0
Sold: 2013 Platinum Silver 911 (991.1) C2
Sold: 2017 Carmine Red Panamera 4
Mine: 991.2 Carrera T Racing Yellow 06/04/2018
Sold: 2016 Rhodium Silver Macan 2.0
Sold: 2013 Platinum Silver 911 (991.1) C2
Sold: 2017 Carmine Red Panamera 4
Mine: 991.2 Carrera T Racing Yellow 06/04/2018
The whole Pension provision sucks.
Be thankfull you folks on Company Pensions, irrespective of what you get or will get.
Being self employed for many years there is no such luxury as a final salary scheme or any employers contribution, its all down to hard graft.
Be thankfull you folks on Company Pensions, irrespective of what you get or will get.
Being self employed for many years there is no such luxury as a final salary scheme or any employers contribution, its all down to hard graft.
Col
Macan Turbo
Air, 20” wheels, ACC, Pano, SurCam, 14w, LEDs, PS+, Int Light Pack, Heated seats and Steering, spare wheel, SC, Privacy glass, PDK gear, SD mirrors, Met Black, rear airbags
Macan Turbo
Air, 20” wheels, ACC, Pano, SurCam, 14w, LEDs, PS+, Int Light Pack, Heated seats and Steering, spare wheel, SC, Privacy glass, PDK gear, SD mirrors, Met Black, rear airbags
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- Posts: 1807
- Joined: Fri Jan 13, 2017 12:33 pm
- Location: Warrenpoint, N Ireland
I'm on a government scheme which changed about a year ago. The old DB system was frozen and a new one introduced. The old one paid out 1/80th of average salary (or something like that...) for each year of employment up to a max of 40/80ths; plus there was a whopping lump sum payment too. The new system pays a pension of 2.3% of actual earnings each year, but AFAIK there's not big lump sum payment any more.
Still a bloody good pension, if you ask me, which is why I'm staying put!
Still a bloody good pension, if you ask me, which is why I'm staying put!
Macan S D
718 S
718 S
I closed my old company's final salary scheme to new employees when the company contribution went above 20% (!)...... and that was back in the late ‘90s early ‘00s
1st Sapphire SD
2nd Sapphire GTS
viewtopic.php?f=23&t=4296
Current 992 S Cab
viewtopic.php?f=23&t=9845&p=196465#p196465
2nd Sapphire GTS
viewtopic.php?f=23&t=4296
Current 992 S Cab
viewtopic.php?f=23&t=9845&p=196465#p196465
Happy Days I was on the same as you Gov scheme and 1/80th it was low pay, great terms and conditions and pension. Started work as an apprentice on my 16th Birthday !!!happy days wrote: ↑Thu Feb 01, 2018 1:00 pm I'm on a government scheme which changed about a year ago. The old DB system was frozen and a new one introduced. The old one paid out 1/80th of average salary (or something like that...) for each year of employment up to a max of 40/80ths; plus there was a whopping lump sum payment too.
Still a bloody good pension, if you ask me, which is why I'm staying put!
I knew that they were going to increase the age you could draw your DB pension from 50 to 55. So in March 08 at 52 I managed to wangle Voluntary Early Retirement (VER) with 37 years service and for taking VER they gave me an extra 7 years, so I got 44 and 6 months pay !!!.
Lump Sum was Tax Free (TF) and I could also reduce my DB and have a larger TF lump sum, It was £12 for every £1 taken off my DB pension up to a Max of something like £3K so you could have and extra £36K TF lump sum.
Not worked since
Last edited by spook on Fri Feb 02, 2018 6:37 am, edited 1 time in total.
911 C2 Pickup 14th April 2018
http://www.porsche-code.com/PJN1HBF2
Pensioner Petrol S - http://www.porsche-code.com/PHMKHZF4 - Deposit place 11/11/14 - Pick up 09/05/16 - SOLD 30/08/17
http://www.porsche-code.com/PJN1HBF2
Pensioner Petrol S - http://www.porsche-code.com/PHMKHZF4 - Deposit place 11/11/14 - Pick up 09/05/16 - SOLD 30/08/17
Sounds a bit like my scheme. What work do you do?happy days wrote: ↑Thu Feb 01, 2018 1:00 pm I'm on a government scheme which changed about a year ago. The old DB system was frozen and a new one introduced. The old one paid out 1/80th of average salary (or something like that...) for each year of employment up to a max of 40/80ths; plus there was a whopping lump sum payment too. The new system pays a pension of 2.3% of actual earnings each year, but AFAIK there's not big lump sum payment any more.
Still a bloody good pension, if you ask me, which is why I'm staying put!
Unless there are any imposed scheme specific rulings tax free lump some payment can be up to a maximum of 25% of total pot but not exceeding £375k which suggests a pot of £1.5 million, not many at that level nowadays but if you were within that era enjoy
Previous Porsche’s
2008. 987 Boxster S Sport basalt
2012. 991 Carrera S aqua
2016. Macan Turbo volcano
2020. Macan GTS crayon (sold 04/24)
Awaiting delivery
2024. Macan GTS gentian. mid May https://configurator.porsche.com/porsche-code/PR8H7WC6
2008. 987 Boxster S Sport basalt
2012. 991 Carrera S aqua
2016. Macan Turbo volcano
2020. Macan GTS crayon (sold 04/24)
Awaiting delivery
2024. Macan GTS gentian. mid May https://configurator.porsche.com/porsche-code/PR8H7WC6
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