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Mancghirl

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Posts posted by Mancghirl

  1. Agree completely - it was just an example to illustrate why SKY is as usual making mountains out of molehills.

    Also forgot to mention the increased contributions, another point conveniently omitted by SKY.

    Yes, as usual, it is not in the government's interests for the changes to affect their "most valued voters" and of course the young will be burdened with the costs.

    Another couple of years down the line, my guess is that there will be more changes - until eventually younger contributors will be paying in more than they will ever get out, so that the payments of their unaffected elders can be maintained.

    I concur entirely. I joined the TPS in 2004, they'd changed the T & C of the scheme by 2007, closing off certain benefits to new entrants. So, by 2012, we're looking at another change. The age distribution of the profession is skewed in favour of the over 50s, so there is further trouble ahead. Also, due to the nature of the job, teaching has a high attrition rate, so 1/3 of potential new entrants (paying contributions which would partially prop up the scheme) leave the profession within 3 years.

    I suppose Gove and the gang are relying upon the complete absence of any other employment for graduates, to 'entice' people into teaching.

    I expect we will see a massive stampede for the lifeboats in the next couple of years, as those who can get the existing benefit structure take advantage of the early retirement rules now closed off to everyone else.

  2. Thanks CV. Evidently most people on here would rather believe our ever-truthful media rather than someone who actually is part of one of these pension schemes.

    There are so many gullible people on this thread.

    The calculations given are incorrect. Their figures for the current final-salary pension are for those who have worked solidly for about 42 years, full-time (1/80 of salary per year worked).

    The government's proposed change is to pay out according to AVERAGE salary earned over an individual's working life rather than their final salary, SKY has calculated on final salary. A teacher retiring now may earn £37 000 (on upper pay scale, with some responsibility) but would have started out on £975 in 1971. The average salary calculation based on 1/60 per year worked would be very different from the numbers given.

    Still too generous, agreed.

    Do you REALLY think HMG are about to up payouts by 25%??!!

    Wake up and stop believing everything the telly tells you.

    Edit: BTW I work for the private sector but have done a bit of extra research.

    No, its better than that. The example teacher you have quoted will have their benefits protected, as will anyone <10 years from retirement. So the switch to career average won't affect them in the slightest.

    As ever, its the new entrants who will be getting the sh*t end of the stick. Still, they'll be able to afford the doubled pension contribs, eh? Its not like they'll be saddled with 30 or 40k of debt from University and house prices will be 10 times their income.

  3. It's the irresponsible parent aspect that is the most concerning for me. This person and her partner were willing to take on significant debts whilst working in uncertain circumstances, and buy stuff with money they didn't have to impress others, despite this obviously being detrimental to their own children's financial wellbeing. I just don't understand why a parent would do that, it smacks of an immaturity that ought to be knocked out of a person by the time they are a parent, never mind in their thirties.

    As for your own situation, best of luck, I'll be trying to do likewise. Fritter away after that, as you say by then it's your money, an important distinction between you and the plums in the article under discussion. Not sure how many coats of spray tan a person can cope with, mind- best go heavy on the bags instead.

    Thanks, just to clarify, I've never had a spray tan in my life :) and I've probably got more handbags than I could use in several lifetimes. The key word for me that sets alarm bells ringing in any newspaper or mag is 'luxe'. A made up word designed to imply luxury but really meaning 'borrow some more to pay for this sh*t'.

    As for irresponsible parenting, I'm a teacher in a secondary school. Sadly, I see examples of it everyday. Although I teach in a fairly deprived area, so there's less of this keeping up with the Jones' yummy-mummy cr*p and more of the general social breakdown, having children far too young/by multiple fathers etc etc.

  4. I agree too. Some of us women do live within our means and we get the whole house price crash ethos (cheaper houses etc etc)!!

    +1

    The original story is v suspect too 'thought my husband would get overtime' erm, he's a teacher, love - we don't get paid overtime. And he was out of work for 4 months? Laid off? Or on supply - that might square with the overtime comment. In which case, how did they manage to get a £300k mortgage?

    On the upside, looking on the price drops in my locality and my savings spreadsheet, I reckon I can be in a position to buy without the need of a mortgage in 3.5 years. Then I can fritter all my money away on spray tans and handbags *joke*.

  5. So Niall is a bit of a bullsh!tter? Was thinking of checking out 'The Ascent of Money' which he did..

    Despite his credentials, he seemed like a bit of a lightweight (and I've only got 1 year of degree level Economics). He has this whole '6 killer apps which mean the Chinese are going to feck us royally and western civilisation is doomed' schtick. The audience seemed to be academics and old school retired bankers. His whole premise was based on the assumption that the US/EU was going to tank and leave China untouched economically. Which seemed unlikely. As they pointed out to him. He also had no clue about Chinese demographics, ageing population, family structures, impact of 1 child policy etc.

    He was also banging on about Chinese 'innovation', based on a flipscreen tablet integrated into a laptop he had seen recently in an R and D lab on a trip to China. Most 10 year olds could tell you those type of products are already in the marketplace and what he saw was just a clone.

  6. Oh! I forgot to mention the crucial fact that my parents were able to save up a sizeable deposit, in order to secure a mortgage in '73, was that after their marriage they managed to secure a council house (3 bed semi, garden, same village). Therefore, they had cheap rent and could save despite having a small child and subsequently another arriving.

    You'll find the type of house they had on rightmove, now being sold for £120k upwards after they were all bought under right to buy and no replacements built.

  7. Elictrical fitter

    p/t business admin

    Here's a couple of jobs that would get you close to the mortgage emtitlement, assuming you can scrape together a deposit.

    Only took me 5 minutes......

    Super, just a >500 mile round trip commute to where the house actually is. You would never get a part-time office job paying £15k in Rochdale, I can assure you. My mother pays her administrators less than that full time and that is in central Manchester. Fitter jobs in the North of England (assuming you can find a permanent contract), come in at around £17 to 18k.

  8. I am not sure about the Frozen North or whether I am a prime time boomer, end of cycle boomer or whatever born in 1961. But the truth is my generation had it good, no fee degrees or great apprenticeship trainng, the explosion in IT services which created millions of trade like jobs (i.e blue collar entry but big money) and flat for 15 years house prices.

    I decided to look up the flat I brought with my girlfriend then wife in 1987 (no one in my experience expected to be able to afford a decent place on their own) couldn't find the exact one but this will suffice newer but 2 bed right area etc.

    http://www.rightmove.co.uk/property-for-sale/property-34566218.html

    We brought it for £67,000 and sold for £63,000 in 1996 after rentng out for a few years.

    But we earnt around 25k each with cars and as it happened a nightly peidm. I think from memory £20 between us enough for a good curry every night. I now read on here that £25k is a good graduate salary it really isn't and our children have been shafted well and truly.

    We weren't unique we weren't graduates but there were literally tens of thousands of well paid jobs in all sorts of sectors.

    I used to think like you Debbie I really did but then I checked the facts.

    Good post and a welcome dose of realism.

    My folks bought in mid-boom 1973, but my Dad had an engineering job and my mum worked part time in an accounts office. 3 bed semi-det, nice village, massive gardens and garage, £6500. Both aged 28/29.

    Similar Property

    Show me a late 20s couple with 2 young children, one working as an electrical fitter and a part time accounts assistant (or similar) that could get together the deposit necessary, without any parental support and secure/service a mortgage for £170k. My Dad also had a reasonably new car of the Ford Cortina type price range, throughout this time. We didn't have overseas holidays, but regular Uk holidays and what passed for consumer durables in the 70s/80s. My parents had a pathological fear of debt and the mortgage was the only thing my Dad ever took on, he was a bit of a zealot about it.

    The odds are stacked against young working people today.

  9. No amount of tarting up can get over the fact that it's an overpriced, pokey 3 bed with concrete, shack-filled postage stamp garden. It's tiny for the money.

    Nah, I'm sure there's LOADS of young couples in South Wales, earning 70 to 100k between them, just itching to buy a house for over 200k that the owner must have paid <50k for.

    Pwil has had something of an epiphany though, he 'went to check out the opposition' and found some much bigger, nicer, cheaper houses which were also not selling. He just couldn't join those dots up, though, god love him.

  10. It is primary. Says he is getting the occasional agency teaching job but now much. He was sold on the, we need more male primary school teachers.

    Poor bloke. I cannot believe the TDA are still pushing that line. Much as more men are needed at Primary level, frankly, they should not be recruiting onto Primary PGCEs at all - there are no jobs and a growing backlog of unemployed teachers.

  11. I suspect he may find it v difficult to find a teaching post. A friend of mine has been looking for 2 years now.

    See

    If he's qualified for Primary, then the jobs market is dire. Secondary is still subject/area specific in terms of vacancy levels. Maths Teachers virtually anywhere will find a position, History teachers not so much - it's Inner London or supply. Even then, supply is limited as schools are using Cover Supervisors. I only qualified in 2004, and the change is shocking - schools were contacting universities direct to find candidates for jobs, I didn't even have to apply for my first teaching post. On the upside, the age profile of the profession is skewed massively towards the over 50s, most of whom will try and bail out if the proposed changes to pensions go through.

  12. Can I have your phone number? :lol::lol:

    Seriously if you are gonna move for work, you would not want to be selling a property at the moment! ;)

    Hmmm, a tempting offer....

    That's why I never bought in at the peak of idiocy here....a friend earning less than me told me 'I'd NEVER be able to afford to buy' if I didn't get 'on the ladder' when he did (i.e. the peak). He has knocked 50k off his flat and can't shift it. 4 more on his small street, all the same size, not selling, just a race to the bottom. Meanwhile, I am living in a massive place in a prime location. If I need to move, I can be out of here in 4 weeks and onto the next place. Its not in my interests to buy for the next 5 to 7 years, due to work - I'll need to take a few job moves to get to where I want in my field. No kids, so no need for a garden and a white picket fence etc.

  13. Am 38, single income of £45k. Have a final salary pension that I pour additional contributions into. Savings from salary and inheritance are tied up for fixed terms.

    Renting a property that would be marketed at well over 500k - not that anything is selling here- for £1100 a month. No significant debt, couple of hundred on my credit cards.

    Looking at friends who are now in Neg Eq., I'm pretty happy with my own situation. Might buy for cash but that is at least 5 years away. Concentrating on career at moment, which may force a relocation.

  14. Most of the kids I teach seem to get p/t jobs when in Years 11 to 13. Usual stuff like shop work, supermarkets, waitressing etc. We are in a coastal town with some tourism, so seasonal work available at holiday parks etc.

    Don't know what its like elsewhere in these tricky times. We don't seem to have much E/European immigration either, due to being in the erse end of nowhere, so not much competition for the jobs other than amongst the teenagers.

  15. Extended semi, facing a council estate, in a less than salubrious bit of Leeds? 80k tops.

    Mancghirl, your friendly northern valuation specialist.

  16. Here's a candidate for optimistic pricing: 15/1 Trinity Crescent. I see it is listed at Offers Over £175,000. But it sold a year ago for £142,427! So somehow it has gone up in price by 25% even though the market as a whole has fallen in the past year. How is this possible?

    I suppose it could have been a repossession the first time around, and thus a place that went quickly and cheaply. Or maybe they did a lot of repair/renovation work (although the description doesn't say anything about this, and the photos don't suggest a recent re-do).

    link: http://www.espc.com/buying/293196.html

    EC.

    Its been up since last summer, yet strangely not sold. There are 2 and 3 bedders on Trinity Cres not shifting at 150-160k. One has been up for sale for about 18 months now.

  17. As it is the banks who may be involved I shall make sure I steer a wide path around this one. Not only that, who decides what charity gets the dosh after, I am sure, 90% is skimmed for admin costs?

    I shall continue with my bit by donating to a local project that feeds genuinely poor people. I only have to see the word "bank" and I am put off. Such is the damage the banksters have done to their reputation since the Brown years.

    Quite right, RB. I give money directly to an orphanage in Africa, which pays for the education, food and clothing for 2 primary age children for a year. I used to donate to Oxfam, as they told me that a certain monthly donation would pay the salary of a trainee teacher in an African country. Then I realised that most of the money was going to fund offices in central London etc.

  18. I was a secondary school governor back in the late 1980s for a coupla years: at the beginning of the roll out of LMS (local Management of Schools): headhunted by the County Council 'cos I'm an accountant and school boards needed finance skills.

    Now, in order to commence the 11+ syllabus, kids need a Reading, Writing, Arithmetic and Comprehension age of, strangely enough, 11+, ish.

    90% of the new intake hovered around 7+: and many lower still.

    Thus primary and junior schools had failed; abysmally.

    The school enjoyed the services of a fantastic lady: a remedial expert. In six months she had 90% of the dullards at 12+!

    The county Area Education Office cut the funding; it was unnecessary they stated.............................they also simultaneously denied Dyslexia existed.

    No: I believe it is typical politician's Knee Jerk "Quick Fix" syndrome.

    Sometime after the earlier period, I was headhunted to chair an Urban Regeneration Programme, funded by government under what was called the SRB 1: (Single Regeneration Bid, series 1).

    I had to have access to all the core local demographics.

    We used to "measure" deprivation in various ways: and unofficially, clock how many Sky dishes were festooned all over the walls of run-down hovelly tower blocks.

    Most interestingly, my GP friend introduced me to the results of a WHO global survey: which just happened to target the most deprived local area as a control subject. (Deprived both economically and socially).

    On Father's Day the kids ran around wondering which man to present the card to! That's if they weren't inside for a spell.

    In essence it concluded they smoked like chimneys: drank like fishes; and food was something invariably eaten with chips cooked in lard or beef dripping.

    And the test subjects presented with NOT ONE case of Coronary-Vascular Disease.

    It was concluded this was since they suffered zero stress: no bills to pay no living to struggle with; no mortgage to pay: nothing much to worry about; unless their satellite went down, of course..........

    Fast forward a few years.............

    The local authority became a Unitary Authority and took back responsibility for education, health and etc.

    A good friend of mine asked me to advise the new education unit, which she headed, which was grappling with dysfunctional kids and families and the main problem, truanting.

    Well I rolled out the old spiel about the 1948 Education Act and how this placed an onus of legal responsibility on parents to ensure their kids attended school.

    The management group looked bemused: "I'll make you a bet!" I said, "99% of these problem kid's parents are benefit cases!"

    "You're correct."

    "Thus you cannot fine 'em: so deprive them of their viewing pleasure for a few weeks: bang 'em up, as the act so empowers you under delegated powers!"

    "Can't!"

    "Why?"

    "The kids would suffer!"

    Education only works when parents value it as much as good teachers and good schools.

    Sadly, most illiterate parents do not value education at all.

    Now that was fine when there were plenty of jobs around which entailed merely lifting, humping and shovelling.

    Business and employment has moved on.

    I am a Secondary school teacher. You speak a world of truth. Decent and hardworking folk beget children with the same values. The 'problem' kids are so rarely from a household which has both employment and stable parenting (I include single parents who have decent values and step-parents in the 'stable' category).

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