I Think most of us are worried at this time but most hopefully will ride it out, sadly some will not.

Thankfully am retired but thoughts are with anyone worried about jobs etc

Less risk to my job now that the government has made its announcements today.

Bit more reassurance today.

Yep. Work in a shop ( getting sick of hearing the phrase ' work from home ' ) No customers or being forced to close for 3 months equals no job to go back to and no way to pay the mortgage. Happy days ! I'm really hoping things will not get as bad as forcast.

Work as a Critical Care Nurse. Should be reet

I do sympathise with any of those who are going to lose there jobs.

don't see how being retired helps anyone at this moment unless independently wealthy with copious amounts of cash or gold/silver for example. If relining on pensions the continued collapse of the market will eventually mean most pension funds will be worthless, yet I agree this is a worst case scenario and better than being younger, having school children and a job that might go away.

Everyone should be a little bit scared of where we are heading and hope that the world leaders help to pull out of the economic dive as well as health improvements through vaccines.

As a teacher of A Level Biology I should be fine. We're worrying about how to prepare students for exams that might not even come, but that is insignificant when you see the uncertainty around other jobs.

I was saying to the wife today that we're very lucky to be in our current position. Both retired on Government pensions and living on an island with no reported cases of Covid-19. About as good as it gets in the current circumstances.

I really do feel for all of you who are working and have children and a mortgage to pay. Very worrying times because it will take a very long time for the economy to recover and lots of businesses and jobs will have gone before then.

With the lack of sport and no social contact there isn't anything to distract from the worries you will have. My thoughts are with everyone who is struggling and let's hope this is all over sooner rather than later.

No risk whatsoever, pension and lump sum rock-solid and the missus is Head of Science in a local secondary school so all good.
Commiserations to, and fingers crossed for, anybody about to struggle.

Firthy wrote: ↑

Tue Mar 17, 2020 7:29 pm

I was saying to the wife today that we're very lucky to be in our current position. Both retired on Government pensions and living on an island with no reported cases of Covid-19. About as good as it gets in the current circumstances.

I really do feel for all of you who are working and have children and a mortgage to pay. Very worrying times because it will take a very long time for the economy to recover and lots of businesses and jobs will have gone before then.

With the lack of sport and no social contact there isn't anything to distract from the worries you will have. My thoughts are with everyone who is struggling and let's hope this is all over sooner rather than later.

evensteadiereddie wrote: ↑

Tue Mar 17, 2020 8:47 pm

No risk whatsoever, pension and lump sum rock-solid and the missus is Head of Science in a local secondary school so all good.
Commiserations to, and fingers crossed for, anybody about to struggle.

Honestly. I don't think anything is rock solid atm. Even the best scenario for the economy is likely to mean a decade of austerity again.

evensteadiereddie wrote: ↑

Tue Mar 17, 2020 8:47 pm

No risk whatsoever, pension and lump sum rock-solid and the missus is Head of Science in a local secondary school so all good.
Commiserations to, and fingers crossed for, anybody about to struggle.

But will there Be Anything Left on the shelves to Buy?

Personally I think when this is over the economy and the markets will boom back fast

summitclaret wrote: ↑

Tue Mar 17, 2020 8:53 pm

Honestly. I don't think anything is rock solid atm. Even the best scenario for the economy is likely to mean a decade of austerity again.

Well, my generous monthly Teacher's Pension is guaranteed. My tidy lump sump is divided amongst various accounts, the OAP kicks in next September and the missus is earning reasonably well. My part-time building site work, my pin money, restarts in May.
Kids all working in secure jobs, house and car paid for, I owe nothing so austerity - which was going to happen anyway - will not affect me.
I'm just hoping that when it's all over, airline tickets are, eventually, cheap and plentiful. We'll see.

As long as you’re ok Eddie !

evensteadiereddie wrote: ↑

Tue Mar 17, 2020 9:19 pm

Well, my generous monthly Teacher's Pension is guaranteed. My tidy lump sump is divided amongst various accounts, the OAP kicks in next September and the missus is earning reasonably well. My part-time building site work, my pin money, restarts in May.
Kids all working in secure jobs, house and car paid for, I owe nothing so austerity - which was going to happen anyway - will not affect me.
I'm just hoping that when it's all over, airline tickets are, eventually, cheap and plentiful. We'll see.

I hope that's meant tongue in cheek.

Hey, c'mon, LS7, I did offer commiserations to anybody likely to struggle earlier in the thread.

Which bit, boatshed ?

If it's the air ticket thing, yup, I agree I'm probably clutching at straws.

I've done my best to make sure it isn't. House now transformed into office for 4, another set for home working, office sparsely occupied, arrangement in place to collect/drop off without mixing.

Work should continue as normal,, assuming we have clients.

im pretty much fked being low income and self employed, but be reyt.

KateR wrote: ↑

Tue Mar 17, 2020 7:06 pm

don't see how being retired helps anyone at this moment unless independently wealthy with copious amounts of cash or gold/silver for example. If relining on pensions the continued collapse of the market will eventually mean most pension funds will be worthless, yet I agree this is a worst case scenario and better than being younger, having school children and a job that might go away.

Everyone should be a little bit scared of where we are heading and hope that the world leaders help to pull out of the economic dive as well as health improvements through vaccines.

Hi Kate, I'm retiring at the end of the month. Yes, I know my fund is down, but I'm not going to check by how much, well, not until this is all over. My fund was also down in 2008 - and I lost on Equitable Life in 1999 - that seems the way of pensions.

I've made it this far - and, it looks like I'm going to save a lot on all the travelling I'd planned that we can't now do.

evensteadiereddie wrote: ↑

Tue Mar 17, 2020 9:50 pm

Hey, c'mon, LS7, I did offer commiserations to anybody likely to struggle earlier in the thread.

Which bit, boatshed ?

If it's the air ticket thing, yup, I agree I'm probably clutching at straws.

Tw@t of the millenium

What will be will be, I know it's a tired cliche but true, I'm multi skilled so can always adapt & turn my hand to something different, if my main source of income goes s**tshaped.

Chobulous wrote: ↑

Tue Mar 17, 2020 11:15 pm

Tw@t of the millenium

I know its early, but, congratulations!

You've just won post of the millennium !

Paul Waine wrote: ↑

Tue Mar 17, 2020 10:18 pm

Hi Kate, I'm retiring at the end of the month. Yes, I know my fund is down, but I'm not going to check by how much, well, not until this is all over. My fund was also down in 2008 - and I lost on Equitable Life in 1999 - that seems the way of pensions.

I've made it this far - and, it looks like I'm going to save a lot on all the travelling I'd planned that we can't now do.

Sounds grim. Is there any way you can delay withdrawal from the fund? Or retirement altogether if that’s not possible?

It’s completely wiped me out. I have zero work coming up now. I film international conferences later on in the year too, but they are hanging balance because of the uncertainty of delegates booking flights and so on.

I’ve just got to hope that my rent at the office and at home gets frozen...

Even the wage from the club has stalled - with me only being match-day staff.

tim_noone wrote: ↑

Tue Mar 17, 2020 8:58 pm

But will there Be Anything Left on the shelves to Buy?

Certainly sounds like there'd been a run on modesty.....

LS7 wrote: ↑

Tue Mar 17, 2020 9:44 pm

As long as you’re ok Eddie !

I'm alright....Jack?

evensteadiereddie wrote: ↑

Tue Mar 17, 2020 9:19 pm

Well, my generous monthly Teacher's Pension is guaranteed. My tidy lump sump is divided amongst various accounts, the OAP kicks in next September and the missus is earning reasonably well. My part-time building site work, my pin money, restarts in May.
Kids all working in secure jobs, house and car paid for, I owe nothing so austerity - which was going to happen anyway - will not affect me.
I'm just hoping that when it's all over, airline tickets are, eventually, cheap and plentiful. We'll see.

Sound familiar!?

https://youtu.be/jOlbOZ9w84I

NewClaret wrote: ↑

Tue Mar 17, 2020 11:31 pm

Sounds grim. Is there any way you can delay withdrawal from the fund? Or retirement altogether if that’s not possible?

Hi New, I'm a lucky guy, really. I've just stated the risks of defined contribution pensions - if the markets are down your fund takes a hit. Your "health is your wealth" as they say. Feb-2016 I had a heart attack - age 62 - and I was retired earlier than I'd planned. 2 years later I was a lot healthier and got the chance to start working again; a 6 months contract, 3 days a week. Before the 6 months was up, I'd moved to full time - and my health was getting better all the time. That was the real bonus from being back at work: I'm fitter now than I was for some time before heart attack. I said I'd give work 2 years and that's what I've done - if I wanted they'd let me continue.... but, I want to travel and enjoy time with family and my granddaughters.....

So, let's get this coronavirus sorted and all is great.

Totally, we organise family accommodation fir foreign students - mostly German and our bookings have all been cancelled from last week through to ...... who knows ..... work is mainly seasonal from end of January to mid November but some schools are saying they won’t travel this year.

I don’t think many have secure jobs at the moment. Our economy is very much ‘hand to mouth’ & the more people out of work has a knock on effect. I’d be especially concerned if I was retired as I’d be on tenterhooks, expecting reduced payments at any time.

jackmiggins wrote: ↑

Wed Mar 18, 2020 7:04 am

I don’t think many have secure jobs at the moment. Our economy is very much ‘hand to mouth’ & the more people out of work has a knock on effect. I’d be especially concerned if I was retired as I’d be on tenterhooks, expecting reduced payments at any time.

Can they reduce pensions ?? Or are you referring to private pensions rather than Government and state pensions.

Everybody should be worried, even smug Eddie. Whilst it remains highly unlikely, this is big enough to trigger lots of scenarios that could ruin everybody's financial security. Hopefully, everybody is given enough breathing space to ride this out, and those that are currently secure try help those that aren't.

Luckily, my job allows me to work from home in times of crisis.

I have a few mates who are on zero hour contracts with one who has had all his shifts removed for the foreseeable, so he will have nothing come in whatsoever and is having to apply anywhere that is taking on.

My partner is a Florist running her own business. All her flowers are delivered fresh from Holland every week, via a wagon bringing them over by ferry. If the ferries are stopped, then it's likely she will have to close down. The knock on affect is not just her, but probably every other Florist nationwide, as Holland is the hub of the flower trade. Especially for people who are wanting flower arrangements for weddings and funerals.

I have a drawdown pension and it's down around 10%. Yesterday I transferred 20% of my SIPP to cash to cover the cost of a BTL mortgage and 3 years income, just to give me piece of mind.

I am lucky that I also have a property portfolio and enough cash in hand to survive 18 months.

My financial advisor, advised me against transferring the fund to cash saying that I would miss the bounce.
I think the market could fall another 10-20% yet and will drip feed the money back in.

The economy was strong and will bounce back, no doubt about it.

I feel for anyone who has a drawdown and have all the money invested in equities. Investors who are with the likes of St James Place will be really getting hammered now. I transfered my ISa from them 15 months ago and put it with Prudential and it as turned out a good move.

jackmiggins wrote: ↑

Wed Mar 18, 2020 7:04 am

I don’t think many have secure jobs at the moment. Our economy is very much ‘hand to mouth’ & the more people out of work has a knock on effect. I’d be especially concerned if I was retired as I’d be on tenterhooks, expecting reduced payments at any time.

Good morning, Jack.

It's my guess you aren't retired and know very little about pensions. Am I right?

Eddie and all the other people on state pensions are guaranteed to receive their pensions - the taxpayer is the ultimate guarantor of their pension arrangements.

All those in receipt of private sector defined benefit pensions are guaranteed by the pension protection fund, which is funded by the all the private sector defined benefit schemes. Yes, if your scheme and employing sponsor fails before you are receiving your pension you suffer a "haircut" on the amount you will receive. Once in receipt of payment you won't suffer a haircut.

Those with defined contribution funds are the ones that are at risk from the stock markets, both on equities and bonds. Each of those funds are the pension savers "own money" and therefore their own risk. But, freedom to manage your own pension rather than be forced into buying an annuity at very poor rates is well worth that risk, if you understand these things.

Of course, current events are the big reminder why transferring from a defined benefit scheme into defined contribution scheme is such a risky idea - and why all the advisors should have said "no, don't do it."

So, no tenterhooks for the retired and no expectations of "reduced payments at any time."

Have a great day, everyone.

I work for a 3PL provider to the main supermarkets. We are seeing Christmas week volumes and above at the moment, it must revert soon

As for the pension fund, I haven't looked!

I’m sorry Eversteadyeddie, but you are coming across as an utter tw*t on this thread.

Working from home from a laptop so largely unaffected. Meetings via Skype. Also Microsoft Office has some pretty good collaborative tools - 'Whiteboard' 'Teams' etc so work continues with minimal disruption.

The postponement of IR35 is also good news.

Not just on this thread

Sorry, Beamish and the other Ringo acolytes but the OP asked a fair question and I answered it fairly.
Another poster then wondered if anything could be rock-solid these days and I answered that yes, in my circumstances, it probably could - health permitting !
I was gracious enough to offer commiserations to those suffering or likely to suffer whilst doing so.
The point is, as in most areas of life, some of us are likely to be better off than others and I have duly expressed my concern over those less fortunate because I realise how fortunate I am in comparison.
Those, surprise, surprise, who continue to troll me via an agenda driven by resentment and jealousy - well, I'm sorry, I can't help you, you'll have to sort yourselves out, I'm afraid. Revel in your misfortune by all means but, please, don't play the martyr yet again and blame others for any shite you may be facing.

Or you can always go **** yourselves if you prefer !

Have fun either way.

Not sure anybody on a football forum is jealous of you eddie

Blow harder eddie

I think you need to read the posts from Elizabeth/Ringo, Beamish, stanbill and nobulous, coast.............I get your drift, there's no reason why they should be - we'll survive no matter what - but, hey ho, they have an agenda and are clearly sticking to it.
If it offers them comfort in these difficult times, I've no problem with that.
Tell you what, I'll not even whinge about being picked on !

Elizabeth wrote: ↑

Wed Mar 18, 2020 8:44 am

Blow harder eddie

Do what ?

You reported that "racist" jibe to the mods yet ?

If that's not whinging, what is?
No agenda, only contempt

Look it up Mr Show Off

Ah, Ringo, you're such a love, I do hope the next few months are as kind to you as they can be.
Contempt = resentment = jealousy.
Your prospects are really so **** that you have to troll me ?
I should be delighted but , funnily enough, I pity you.
Magnanimous to a fault, that's me, kidder.