Adam E Posted October 2, 2019 Share Posted October 2, 2019 17 minutes ago, ProDave said: That's an EICR, Electrical Installation Condition Report. That report makes it clear you are NOT inspecting hidden cables etc, only what you can see or test. Part P is about cable routes, sticking to safe zones etc. You can't check for that in an EICR. Just to show how stupid the "rules" are, a couple of years ago the Scottish Government decreed that rental properties MUST have a valid EICR, ANDD that the EICR must be performed by a member of a scam. So I am in the even more ridiculous situation that I can do an EICR for someone wanting to know the state of the wiring, perhaps pre purchase, I can do an EICR for a commercial customer, I can wire new builds and issue an EIC. But unless I stump up £00's and jump through the hoops to join a scam, I cannot do an EICR if it's purpose is rental. The rules get sillier and sillier. Never mind 3 1/2 years and I won't have to bother any more. Good information, hopefully by the time you retire they haven’t put the pension age up to 80 Link to comment Share on other sites More sharing options...
ProDave Posted October 2, 2019 Share Posted October 2, 2019 4 minutes ago, Adam E said: Good information, hopefully by the time you retire they haven’t put the pension age up to 80 One of my sailing partners, 2 weeks before her 60th birthday, she got the letter saying her state pension age had gone up to 65. 1 Link to comment Share on other sites More sharing options...
Jeremy Harris Posted October 2, 2019 Share Posted October 2, 2019 1 hour ago, ProDave said: One of my sailing partners, 2 weeks before her 60th birthday, she got the letter saying her state pension age had gone up to 65. My wife had something similar, but a bit more notice. She retired last Friday, and is now worrying about the six year gap before she gets her state pension at 66. She'd planned on her state pension age and civil service pension age remaining the same, but her civil service retirement age stayed at 60 and her state pension age has shifted away to 66. I'm fortunate, in that my state pension age stayed at 65, so my plans of retiring early (I retired when I was 57) and being able to manage until I started getting the state pension a couple of years ago pretty much worked out OK (or would have done, had the build not gone over budget). I suppose we should be thankful that, in the main, our plans have worked out reasonably well. I've ended up with a bigger overall pension than I'd estimated, and that pretty much compensates for my wife ending up with a pension gap for 6 years. The snag is that she doesn't much like having to rely on my pension... Link to comment Share on other sites More sharing options...
SteamyTea Posted October 2, 2019 Share Posted October 2, 2019 37 minutes ago, JSHarris said: The snag is that she doesn't much like having to rely on my pension... I could happily live of others' pensions. Should have become a 'financial adviser', it is what those thieving bastards do all day. Link to comment Share on other sites More sharing options...
ProDave Posted October 2, 2019 Share Posted October 2, 2019 54 minutes ago, JSHarris said: My wife had something similar, but a bit more notice. She retired last Friday, and is now worrying about the six year gap before she gets her state pension at 66. She'd planned on her state pension age and civil service pension age remaining the same, but her civil service retirement age stayed at 60 and her state pension age has shifted away to 66. I'm fortunate, in that my state pension age stayed at 65, so my plans of retiring early (I retired when I was 57) and being able to manage until I started getting the state pension a couple of years ago pretty much worked out OK (or would have done, had the build not gone over budget). It does take some re thinking of pensions, and how and when they pay out. My AEA pension starts at 60 (though now it has the flexibility to draw it early if I want to) That and my state pension will be enough, add my wifes state pension as well and we will have an income not far short of what we are earning now. So the "issue" is how to fill that gap between when I want to retire (60) and SP age. I am "solving" that with another pension from another company I worked for. That was a defined contribution scheme (the only DC pension I have). I have placed that into a flexible drawdown account. The plan being to start drawing it when I reach 60 and draw it at such a rate that it will run dry on the day my state pension starts. I do like having that flexibility rather than be forced to just buy an annuity with it. 1 Link to comment Share on other sites More sharing options...
Jeremy Harris Posted October 2, 2019 Share Posted October 2, 2019 That gap, between when I retired and when I started receiving the state pension, really exacerbated our cost over run problems. If we'd had the extra £500 a month from the state pension we could have moved in a year earlier, I'm sure. The daft thing is that, having got used to living on less during the build, and paying to run two houses (one of which cost more than twice as much to run, even though it was a lot smaller), we've now found ourselves with money to spare. This is causing as much tension as not having much spare cash, as my view is that we should just spend what we have whilst we can enjoy it (we both have a fair bit of savings from the sale of the old house) but SWMBO seems intent on just saving regularly (seems a bit pointless given the rubbish interest rate). Link to comment Share on other sites More sharing options...
Onoff Posted October 2, 2019 Share Posted October 2, 2019 I'm f***ed. Equitable Life me. Link to comment Share on other sites More sharing options...
ProDave Posted October 2, 2019 Share Posted October 2, 2019 The tax treatment of pensions p****s me off. I have the money sat there that would finish the house. It would be lovely to just draw it out and get the damned house finished. Spending a chunk of my pension like that in one go would not be financial suicide, it would be made up later from the eventual sale of the old house. But the tax implications of drawing a big lump in one go like that make it not realistic. Link to comment Share on other sites More sharing options...
newhome Posted October 2, 2019 Share Posted October 2, 2019 47 minutes ago, ProDave said: But the tax implications of drawing a big lump in one go like that make it not realistic You can take 25% tax free surely? Link to comment Share on other sites More sharing options...
Onoff Posted October 3, 2019 Share Posted October 3, 2019 7 hours ago, JSHarris said: we've now found ourselves with money to spare One problem after another eh? ? Link to comment Share on other sites More sharing options...
ProDave Posted October 3, 2019 Share Posted October 3, 2019 8 hours ago, newhome said: You can take 25% tax free surely? Done that. I would love to take the other 75% but that would just be a gift to hmrc if I did that. Link to comment Share on other sites More sharing options...
SteamyTea Posted October 3, 2019 Share Posted October 3, 2019 (edited) 10 hours ago, Onoff said: I'm f***ed. Equitable Life me. You can rent their old building out. £20/sq foot http://www.showcase.co.uk/property/Walton-Street/South-East/Aylesbury/9638655 Does seem odd that the tax office was opposite and they never noticed that the company was corrupt. I knew a guy that worked at Equitable in a senior position, he expected sympathy when he lost his job. He ended up as the only shelf stacker at Tesco with a new BMW 5 series. Thieving crooks. Edited October 3, 2019 by SteamyTea Link to comment Share on other sites More sharing options...
Onoff Posted October 3, 2019 Share Posted October 3, 2019 31 minutes ago, SteamyTea said: You can rent their old building out. £20/sq foot http://www.showcase.co.uk/property/Walton-Street/South-East/Aylesbury/9638655 Does seem odd that the tax office was opposite and they never noticed that the company was corrupt. I knew a guy that worked at Equitable in a senior position, he expected sympathy when he lost his job. He ended up as the only shelf stacker at Tesco with a new BMW 5 series. Thieving crooks. Gets worse as because of the grief I've never upped my monthly pension contributions ...since 1988. Link to comment Share on other sites More sharing options...
SteamyTea Posted October 3, 2019 Share Posted October 3, 2019 17 minutes ago, Onoff said: since 1988. Could still buy a Ford Escort then. Link to comment Share on other sites More sharing options...
Onoff Posted October 3, 2019 Share Posted October 3, 2019 1 minute ago, SteamyTea said: Could still buy a Ford Escort then. I had an Orion in 88 from memory. 87 I had a MK4 Escrote. Link to comment Share on other sites More sharing options...
SteamyTea Posted October 3, 2019 Share Posted October 3, 2019 Just now, Onoff said: had an Orion in 88 from memory. 87 I had a MK4 Escrote. You sure you are not from Essex. Link to comment Share on other sites More sharing options...
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