The Money Thread...

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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Wed Aug 17, 2016 9:27 am

Moggy wrote:
Glowy69 wrote:
Drumstick wrote:
Grumpy David wrote:Santander 123 current account is in need of a name change now they've strawberry floated with their best account.

From November, it'll reduce its top interest rate down to 1.5% from 3%.

:dread:


It has been coming for a while. Costs mean we can't afford to keep doing it. Nowhere else even offered close to it.

Oh well. Still better than most other instant access savings on 20k.

Also the name won't change. The cashback still applies.


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:lol: I hope bristol fold.

Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Moggy
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PostRe: The Money Thread...
by Moggy » Wed Aug 17, 2016 9:32 am

Glowy69 wrote:
Moggy wrote:
Glowy69 wrote:
Drumstick wrote:
Grumpy David wrote:Santander 123 current account is in need of a name change now they've strawberry floated with their best account.

From November, it'll reduce its top interest rate down to 1.5% from 3%.

:dread:


It has been coming for a while. Costs mean we can't afford to keep doing it. Nowhere else even offered close to it.

Oh well. Still better than most other instant access savings on 20k.

Also the name won't change. The cashback still applies.


Image


:lol: I hope bristol fold.


Unlikely now that they are in the Premiership with a billionaire behind them.

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bigcheez2k3
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PostRe: The Money Thread...
by bigcheez2k3 » Wed Aug 17, 2016 9:43 am

I was going to open one but now I might just open another 5% current account instead as I was always intending to funnel my money into a H2B ISA and regular savers.

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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Wed Aug 17, 2016 4:51 pm

Does anyone here know anything about life insurance. With us getting a mortgage very very soon I know we need life and critical illness.

We have a protection advisor at work and he has been helping, gave us both a quote and it came out at over £40! Done similar thing on Avivas website and I cn get Life and CIC for £25

The life is for the term of the mortgage and is decreasing. The CIC,they ask for how much you want to be covered, as in a lump sum. I have no idea what Im supposed put. Any ideas/advice?

Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Grumpy David
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PostRe: The Money Thread...
by Grumpy David » Wed Aug 17, 2016 5:58 pm

Glowy69 wrote:Does anyone here know anything about life insurance. With us getting a mortgage very very soon I know we need life and critical illness.

We have a protection advisor at work and he has been helping, gave us both a quote and it came out at over £40! Done similar thing on Avivas website and I cn get Life and CIC for £25

The life is for the term of the mortgage and is decreasing. The CIC,they ask for how much you want to be covered, as in a lump sum. I have no idea what Im supposed put. Any ideas/advice?


What about 2/3 years worth of salary?

If you had a cancer/stroke/heart attack, how much would you need to have to continue affording the mortgage and bills?

Glowy69
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PostRe: The Money Thread...
by Glowy69 » Wed Aug 17, 2016 6:02 pm

Grumpy David wrote:
Glowy69 wrote:Does anyone here know anything about life insurance. With us getting a mortgage very very soon I know we need life and critical illness.

We have a protection advisor at work and he has been helping, gave us both a quote and it came out at over £40! Done similar thing on Avivas website and I cn get Life and CIC for £25

The life is for the term of the mortgage and is decreasing. The CIC,they ask for how much you want to be covered, as in a lump sum. I have no idea what Im supposed put. Any ideas/advice?


What about 2/3 years worth of salary?

If you had a cancer/stroke/heart attack, how much would you need to have to continue affording the mortgage and bills?


Thats the sort of answer I was looking for mate. 2/3 years, common sense when I think about it. Good man thanks.

Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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Lagamorph
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PostRe: The Money Thread...
by Lagamorph » Wed Aug 17, 2016 6:06 pm

Does your employer not have any kind of internal scheme? If I died whilst still employed then my beneficiaries receive 4x my annual salary. My partner would also receive 2/3rds of my salary as a pension every year for life.
I don't pay any extra for that benefit, it's just part of the job

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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Wed Aug 17, 2016 6:07 pm

Lagamorph wrote:Does your employer not have any kind of internal scheme? If I died whilst still employed then my beneficiaries receive 4x my annual salary. My partner would also receive 2/3rds of my salary as a pension every year for life.
I don't pay any extra for that benefit, it's just part of the job


I have 10x death in service. Can I take the risk that ill be at the same company when/if I die? Its all very confusing and horribly morbid.

Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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JiggerJay
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PostRe: The Money Thread...
by JiggerJay » Wed Aug 17, 2016 9:52 pm

4x death in service, and I have a separate policy with work which is like 60p a week for each me and my partner, for added £100k life assurance if one of us dies

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Moggy
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PostRe: The Money Thread...
by Moggy » Thu Aug 18, 2016 7:42 am

I get 4x salary and the wife and kid would get pensions on top of that.

I am worth far more dead than I am alive. If the wife is reading this, please remember that I love you and it is not all about the money. :dread:

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Errkal
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PostRe: The Money Thread...
by Errkal » Thu Aug 18, 2016 7:55 am

It OK change your will and leave it all to GRcade she has no reason to kill you then.

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Moggy
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PostRe: The Money Thread...
by Moggy » Thu Aug 18, 2016 8:19 am

Errkal wrote:It OK change your will and leave it all to GRcade she has no reason to kill you then.


I trust her with my life more than I trust GRcade. :dread:

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Errkal
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PostRe: The Money Thread...
by Errkal » Thu Aug 18, 2016 9:15 am

Moggy wrote:
Errkal wrote:It OK change your will and leave it all to GRcade she has no reason to kill you then.


I trust her with my life more than I trust GRcade. :dread:


But she is going to top you for the money anyway, at least if we do it we can make it a great send off and that rather than just being beaten to death for not washing the baby seat or something.

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Moggy
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PostRe: The Money Thread...
by Moggy » Thu Aug 18, 2016 9:51 am

Errkal wrote:
Moggy wrote:
Errkal wrote:It OK change your will and leave it all to GRcade she has no reason to kill you then.


I trust her with my life more than I trust GRcade. :dread:


But she is going to top you for the money anyway, at least if we do it we can make it a great send off and that rather than just being beaten to death for not washing the baby seat or something.


As long as the send off before you kill me costs 4x my salary....

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Lagamorph
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PostRe: The Money Thread...
by Lagamorph » Thu Aug 18, 2016 4:56 pm

Does anyone have any experience with moving pension funds around?
I've got a pension with my current employer, a pension with my previous employer which has about £8,000 in it and another pension with another former employer that only has about £220 in it.

I'm thinking of going to see a financial advisor about the £8,000 one, to see if my current pension scheme is better or if I'm better just leaving it where it is, but I'd like to just shift the £220 one into my current scheme since it's neither use nor ornament where it is.

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Moggy
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PostRe: The Money Thread...
by Moggy » Thu Aug 18, 2016 5:11 pm

Lagamorph wrote:Does anyone have any experience with moving pension funds around?
I've got a pension with my current employer, a pension with my previous employer which has about £8,000 in it and another pension with another former employer that only has about £220 in it.

I'm thinking of going to see a financial advisor about the £8,000 one, to see if my current pension scheme is better or if I'm better just leaving it where it is, but I'd like to just shift the £220 one into my current scheme since it's neither use nor ornament where it is.


I assume they are money purchase/defined contribution?

If the £8000 is final salary/defined benefit then leave it where it is.

If MP/DC then have a word with an IFA and see if you would be better off combining them. It all depends on where and how the money is being invested as to whether it's worthwhile moving them.

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Lagamorph
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PostRe: The Money Thread...
by Lagamorph » Thu Aug 18, 2016 5:15 pm

Not a clue what type the £8,000 one is to be honest, it was just a pension through my employer that I joined because "You need a pension" basically, I never paid a huge amount of attention to the details. Pretty certain it's not a Final Salary one though.
Sounds like a Financial Advisor is going to be the way to go, I'll just take all the documentation for the current scheme and the old schemes down and see what they recommend.

Is the transfer generally quick/smooth? Is there much paperwork involved? Or is it just "Sign here and that's that" ?

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Moggy
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PostRe: The Money Thread...
by Moggy » Thu Aug 18, 2016 7:32 pm

Lagamorph wrote:Not a clue what type the £8,000 one is to be honest, it was just a pension through my employer that I joined because "You need a pension" basically, I never paid a huge amount of attention to the details. Pretty certain it's not a Final Salary one though.
Sounds like a Financial Advisor is going to be the way to go, I'll just take all the documentation for the current scheme and the old schemes down and see what they recommend.

Is the transfer generally quick/smooth? Is there much paperwork involved? Or is it just "Sign here and that's that" ?


Depends really. A company scheme will usually send you a transfer value (or send it direct to your IFA) and the forms you need to complete. They will also want the receiving scheme to complete some forms. It's a simple process but can drag on if either scheme or the IFA are slow.

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Lagamorph
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PostRe: The Money Thread...
by Lagamorph » Thu Aug 18, 2016 7:44 pm

Moggy wrote:
Lagamorph wrote:Not a clue what type the £8,000 one is to be honest, it was just a pension through my employer that I joined because "You need a pension" basically, I never paid a huge amount of attention to the details. Pretty certain it's not a Final Salary one though.
Sounds like a Financial Advisor is going to be the way to go, I'll just take all the documentation for the current scheme and the old schemes down and see what they recommend.

Is the transfer generally quick/smooth? Is there much paperwork involved? Or is it just "Sign here and that's that" ?


Depends really. A company scheme will usually send you a transfer value (or send it direct to your IFA) and the forms you need to complete. They will also want the receiving scheme to complete some forms. It's a simple process but can drag on if either scheme or the IFA are slow.

Cheers.

It's not like I'm in a hurry for the transfer to happen at least. If there is any difference between them I doubt a slow process is going to cost me much in the way of lost interest/investment value given how things are at the moment and the relatively low value.

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Curls
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PostRe: The Money Thread...
by Curls » Fri Aug 19, 2016 10:27 am

So I joined coop bank. I don't like their online banking at all and it takes ages to get through to them on teh phone.....Once I get my £150 I think I'll be out of there. Maybe nationwide next! The current account interest should be enough to make up the £5 in 'everyday rewards' I get from the Coop anyway.


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