Deputy Money Editor @theipaper. Part-time saxophonist & runner. E: [email protected]. Own views, RTs not endorsements etc. Also: https://nitter.cf/t.co/BUFDAs5sIf
Joined June 2012
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Retired public sector workers are set to receive better pay increases next year than their working counterparts under current recommendations inews.co.uk/inews-lifestyle/…
Quite funny how Twitter seems to assume every post about John Healey is a reference to the Massachusetts governor race (Maura Healey is the current governor).
I think this is because the contribution rate for armed forces pensions is dropping. Forces don't pay into their own pensions, the MoD pays a portion their pay.
This changes every few years (actuaries calculate what's needed) and it's dropping from 73.5% to 52.3% in April.
Callum Mason retweeted
Are you left wondering how the Budget will affect your pocket?
@kitty_donaldson, @CallumCMason, Anjolaoluwa Fashawe and @Guto_Harri are here to give their views
trib.al/KtaIRWT
Good example of how cyclical Westminster announcements can be and how it's hard to engage with some of them
Below is a story I wrote in JANUARY 2018 about a new code of practice for parking firms
Today a v similar plan is being announced by Andy Burnham
moneysavingexpert.com/news/2…
Callum Mason retweeted
It'll be 22.32% from 1 April. Let's hope the civil service HR people are told before they schedule recruitment ads.
One problem with presenting DB pensions this way is that the people you've just recruited may ask why their pension has just been cut.
If you saw the below job ad, what would you think?
The civil service has been accused of misleading prospective employees by advertising its 28.97% pension contribution for staff. Unions say staff might think it represents the value of the pension itself.
inews.co.uk/inews-lifestyle/…
Can banks shoulder the cost of new taxes, or will more costs mean worse savings & mortgage rates.
Obviously taxes do tend to get passed to consumers to some extent, but experts think big bank margins mean they have scope to absorb a "modest" tax increase.
inews.co.uk/inews-lifestyle/…
If you saw the below job ad, what would you think?
The civil service has been accused of misleading prospective employees by advertising its 28.97% pension contribution for staff. Unions say staff might think it represents the value of the pension itself.
inews.co.uk/inews-lifestyle/…
What are we calling it?
35%Double lock plus
12%2.5x lock
12%Triple lock minus
41%Double lock
17 votes • Final resultsnitter.cf/David_J_Robbins/status… seems like this is how it'll work but would be good to see the actual detail written down.
Confusing from Andy Burnham as he says that after 2030 the triple lock will become a double lock, rising with the higher of inflation or 2.5% but then says the state pension will hold its value "relative to earnings over time."
This isn't right, if the new system is as announced
Lots of pressure on the PM to look at increasing the tax-free personal allowance this week - including from his own donors.
Here's why it almost certainly won't happen if Labour wants to keep to its manifesto. (No a CGT raise will not pay for it!)
inews.co.uk/inews-lifestyle/…
What sort of homes will Labour be taxing with its new 'Mansion Tax'?
Well according to analysis for the The i Paper, it certainly won't mansions in many cases, especially if the threshold is dropped from £2m to £1.5bn as is reportedly under consideration inews.co.uk/inews-lifestyle/…
Lots of different perspectives to be had RE: council tax reform, but I don't think even Zoopla would agree with the claim that their automated valuation tool is "very, very accurate"!
Almost impossible for any government to let go of the triple lock while a lot of the country thinks this way.
Until people understand that the state pension is supposed to supplement PRIVATE income in retirement rather than replace it, they'll always think it's too small.
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Variation of this does the rounds every week but it won't be right in most cases
Minimum you'd earn and be given a £1,200/mth rental would be £36k
Assuming a 5.5% mortgage you'd need to be borrowing £130k to owe £800/month. A bank would almost always let you borrow that on £36k
Renting in the UK is fucking backwards.
You can spend £1,200 a month paying someone else's mortgage. No problem.
That's almost £15k a year going towards an asset you'll never own.
But the bank won't give you an £800 a month mortgage because you “can't prove that you can afford the repayments.”
So apparently £1,200 a month is affordable when it goes to your landlord.
But £800 a month is suddenly unaffordable when it goes towards owning your own place?
Make it make sense.
Landlords are pricing their properties at above market rate due to new laws brought in earlier this year – meaning tenants who offer at the asking price may end up paying more than they need to.
inews.co.uk/inews-lifestyle/…
Must be a bit disappointing to the financial advice profession generally that so many people seemingly entirely conflate them with fund managers!
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As bad as the student loan system is I just don't believe this is true, even if people are saying they've done it.
There would be no logic to turning down a pay rise cause 9% of it goes back to the Student Loans Company - why would you do it?
