Page 4 of 8 FirstFirst 12345678 LastLast
Results 76 to 100 of 196
  1. #76
    Thailand Expat
    MeMock's Avatar
    Join Date
    Jun 2005
    Last Online
    @
    Location
    Baan Nok Ubon / outback Australia
    Posts
    11,146
    Can you not role it over to a SMSF and take control of it. No way I would leave my super money in the hands of unknown 'experts' to invest it for me.

  2. #77
    Excommunicated baldrick's Avatar
    Join Date
    Apr 2006
    Last Online
    Today @ 08:58 PM
    Posts
    24,761
    Quote Originally Posted by MeMock
    the hands of unknown 'experts' to invest it for me.
    which is why I have never believed that my super money will be there for me by the time I reach 67 ( if I do )

    the super fund industry is just another banker wanker high paid scam who is quite happy to take fees for doing fcuk all - how much of the share price bubble is being propped up by this cash
    If you torture data for enough time , you can get it to say what you want.

  3. #78
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    07-12-2022 @ 03:12 PM
    Posts
    26,746
    ^

    Many people have Lost heaps of their Super Money by giving it over to Private Investors to manage .

    The Managers always get their Management fee regardless of whether the funds performs or not. Way business works.

    Financial Advisers make their money this way, it's a mine field out there sourcing a competent Adviser. How do we Know. ?

    Hence why I leave it with our Managers to deal with because they are In House and have done the Job since our Super Fund kicked off many moons ago.

    I would hate to have to deal with this Issue myself. I'll just go with the flow.

    You are in a different boat. Good luck doing your own Investing.

  4. #79
    Thailand Expat
    jamescollister's Avatar
    Join Date
    Nov 2008
    Last Online
    29-06-2020 @ 09:33 PM
    Location
    Bunthrik Ubon
    Posts
    4,764
    Quote Originally Posted by terry57
    The Government has a cap on what one can draw in a lump sum without paying tax on the withdrawal, changes each year. This year it was 185 K Tax free.
    It's not tax free because you have already paid the taxes, every pay day you pay tax, then you pay into your fund. Funds profits are taxed, then they have the nerve to tell you, you are too stupid the take care of your on money.

    What next, penalties/taxes when you withdraw too much from your bank account, it's your money in the first place.

    Think of it from the other end, rich investors being told they can't access their investments, because that's what your super is an investment.

  5. #80
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    07-12-2022 @ 03:12 PM
    Posts
    26,746
    Quote Originally Posted by MeMock View Post

    Can you not role it over to a SMSF and take control of it.

    In my case, No.

    As an employee of the Fire Service one cannot move his money out until he retires.

    Once one retires you can do what you want with it.

    Some guys have done exactly that chasing higher returns investing in more aggressive funds.

    Some have lost a shit load by doing this. I'll bet there are a heap of guys shitting bricks right now because they have exposed their money chasing higher returns.

    No way I'm risking the Stash by chasing the big dollars. Im very happy getting conservative returns.

    Two years ago our fund returned 11 odd %. I know one guy who was investing outside in Australian Shares and they returned 20 %.

    Last year we received 6.3% and this year who knows. Maybe nothing.

    Over the life of our fund given ups and down in the market we have averaged 7.5 % which is not to shabby.

    If that same guy is still in Australian shares he is in deep shit.

  6. #81
    Thailand Expat Black Heart's Avatar
    Join Date
    Mar 2011
    Last Online
    @
    Location
    Planet Cylon
    Posts
    3,019
    Quote Originally Posted by stroller View Post
    Quote Originally Posted by Davis Knowlton View Post
    Quote Originally Posted by jamescollister View Post

    Today it's work till you die, or live on baked beans and dog food.
    Depends on the country and the retirement plan. My pension pays me a good check every month. Has every month since I retired at 51. Will until I die, and will then pay my wife 60% of it until she dies. Plus, Social Security now pays me as well, and my twins, despite decades of naysayers preaching it would dry up. And, my wife starts drawing SS as well at age 60.

    My retirement also includes full medical coverage for me and my wife for life, and for the twins until they turn 26.

    Depends......
    You live in the Phils and draw SS on top of your pension - from the US???
    Wonders never cease... no chance of this in 'socialist' Europe.
    Yes, an American can draw SS anywhere in the world.

    And it should be that way. We are forced to pay into it by law.


    But as is always with the government: they could change the rules with the stroke of a pen, like they did in Australia.

    That was a shame.
    As of March 15, 2016, I have 97Century Threads.

  7. #82
    Thailand Expat
    can123's Avatar
    Join Date
    Oct 2010
    Last Online
    24-04-2023 @ 02:34 PM
    Posts
    5,547
    America = Social Security

    UK = Retirement Pension

  8. #83
    Thailand Expat Storekeeper's Avatar
    Join Date
    Nov 2005
    Last Online
    @
    Location
    Jomtien
    Posts
    11,943
    Quote Originally Posted by can123 View Post
    America = Social Security

    UK = Retirement Pension
    Most of what I've read indicates the average social security check for an American who starts drawing at 62 is around $1300 a month. How does that compare to the UK roughly speaking?

  9. #84
    Thailand Expat Pragmatic's Avatar
    Join Date
    Mar 2013
    Last Online
    @
    Location
    Last but who gives a shit.
    Posts
    13,316
    Quote Originally Posted by Storekeeper
    How does that compare to the UK roughly speaking?
    It depends on how many years contributions one has made. I don't think, as a male, one can start drawing ones pension til reaching the age of 65 on top. I may be wrong?

  10. #85
    Thailand Expat

    Join Date
    Sep 2014
    Last Online
    Today @ 03:21 PM
    Posts
    18,512
    The current maximum UK state pension for a single person is around £116 per week, about $8,000 per year. It is payable at aged 65 years but after 2017/18 it will be 66 years old.

    It will rise in two years or so under the new regime to around £151 per week, $11,000 per year.

  11. #86
    Thailand Expat
    palexxxx's Avatar
    Join Date
    Jun 2011
    Last Online
    @
    Location
    Chiang Mai
    Posts
    4,141
    Quote Originally Posted by Seekingasylum View Post
    The current maximum UK state pension for a single person is around £116 per week, about $8,000 per year. It is payable at aged 65 years but after 2017/18 it will be 66 years old.

    It will rise in two years or so under the new regime to around £151 per week, $11,000 per year.

    In Australia the maximum rate for Age Pension for a single person is $782.20 per fortnight ($20,337.20 per year). Age Pension is not the same as the Superannuation discussed earlier. Age Pension is what you are entitled to if your income and assets fall below the means test level.
    "The problem with quotes on the Internet is that it is hard to verify their authenticity." - Abe Lincoln.

  12. #87
    Thailand Expat
    jamescollister's Avatar
    Join Date
    Nov 2008
    Last Online
    29-06-2020 @ 09:33 PM
    Location
    Bunthrik Ubon
    Posts
    4,764
    Quote Originally Posted by Storekeeper View Post
    Quote Originally Posted by can123 View Post
    America = Social Security

    UK = Retirement Pension
    Most of what I've read indicates the average social security check for an American who starts drawing at 62 is around $1300 a month. How does that compare to the UK roughly speaking?
    Yes lots of people fell for the 40,40,40 scam.
    Work 40 hours a week for 40 years and hopefully get 40% of what you couldn't live on in the first place.
    Most western countries state pensions don't pay enough to qualify for a retirement visa in Thailand, a 3rd world country and it's getting worse.

  13. #88
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    07-12-2022 @ 03:12 PM
    Posts
    26,746
    ^ ^

    I'm hoping these Guys do know the difference between a Superannuation fund and a State pension.

    I'm sure they do.

    Christ, I hope I never have to survive on a State pension.

  14. #89
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    07-12-2022 @ 03:12 PM
    Posts
    26,746
    ^^

    Hasn't Australia stopped Expats claiming a State Pension. ?

    One must be residing in Australia X amount of the year to get it.

    Also to qualify for it one must be living in Australia unbroken for two years I think.

  15. #90
    Thailand Expat
    can123's Avatar
    Join Date
    Oct 2010
    Last Online
    24-04-2023 @ 02:34 PM
    Posts
    5,547
    Quote Originally Posted by Seekingasylum
    The current maximum UK state pension for a single person is around £116 per week, about $8,000 per year.
    Wrong. You pay no regard to the earnings component. My pension is more than 33% greater than this.

  16. #91
    Thailand Expat Pragmatic's Avatar
    Join Date
    Mar 2013
    Last Online
    @
    Location
    Last but who gives a shit.
    Posts
    13,316
    Quote Originally Posted by jamescollister
    Most western countries state pensions don't pay enough to qualify for a retirement visa in Thailand
    Jim one doesn't have to have an annual income equal to 800,000 Baht per year. Just having 800,000 Baht in a fixed term account is sufficient with no other means of support is enough for a 'Retirement Extension'.

  17. #92
    Thailand Expat
    taxexile's Avatar
    Join Date
    Nov 2006
    Last Online
    @
    Posts
    19,342
    You pay no regard to the earnings component.
    what is that, and how does it work ?

  18. #93
    Thailand Expat
    jamescollister's Avatar
    Join Date
    Nov 2008
    Last Online
    29-06-2020 @ 09:33 PM
    Location
    Bunthrik Ubon
    Posts
    4,764
    Quote Originally Posted by terry57 View Post
    ^^

    Hasn't Australia stopped Expats claiming a State Pension. ?

    One must be residing in Australia X amount of the year to get it.

    Also to qualify for it one must be living in Australia unbroken for two years I think.
    Yes they must now live 2 years either side of 65 to claim the state pension overseas.
    They killed all overseas disability pensions a few years ago, friend of mine, wife 2 houses here, some bad investment advice after a car accident in Melbourne, had to return.
    Died in a dosshouse 12 weeks later, 2 others, big time jobs, self funded retirees, self manage funds.
    Both have wives and homes here, lost big time 2009, both back in OZ getting their 2 years up.

    They could change the rules tomorrow, no pensions or super paid to non residences, you have no say.

  19. #94
    Thailand Expat
    jamescollister's Avatar
    Join Date
    Nov 2008
    Last Online
    29-06-2020 @ 09:33 PM
    Location
    Bunthrik Ubon
    Posts
    4,764
    Quote Originally Posted by Pragmatic View Post
    Quote Originally Posted by jamescollister
    Most western countries state pensions don't pay enough to qualify for a retirement visa in Thailand
    Jim one doesn't have to have an annual income equal to 800,000 Baht per year. Just having 800,000 Baht in a fixed term account is sufficient with no other means of support is enough for a 'Retirement Extension'.
    I know that, saying your state pension is not enough to get an extension of stay.
    Have enough cash you can live anywhere, but on a state pension alone, not here.

  20. #95
    Thailand Expat
    can123's Avatar
    Join Date
    Oct 2010
    Last Online
    24-04-2023 @ 02:34 PM
    Posts
    5,547
    Quote Originally Posted by taxexile View Post
    You pay no regard to the earnings component.
    what is that, and how does it work ?

    From memory around about 1975 the National Insurance Act was passed so as to allow earnings related contributions ( compulsory) to be made instead of a flat rate amount for all who were employed. This results in higher pensions being paid to those who contributed from 1975. Class Four contributions were introduced and this was for people who were self employed. My own contribution record reflects periods of both employed and self employed work.

    I had paid into private pension funds as well and claimed these after the age of 50. My father had paid huge contributions during his working life and had a very big pension. Unfortunately he died following an accident at the age of 65. I took my pensions as soon as I could to make sure that I had as much money from them as possible during my life. As qualified financial adviser working for a well known bank I could not have recommended that others did what I did with my pensions. Theoretically, they should not be touched until proper retirement age so as to maximise the amount payable. I acted because of my experience of my father dying young but I now know I did the right thing. What is the point in having a gigantic pension when you are 70 if you die when you are 71 ?

  21. #96
    Thailand Expat
    charleyboy's Avatar
    Join Date
    Oct 2012
    Last Online
    24-11-2023 @ 10:30 AM
    Location
    Cha-am.
    Posts
    3,711
    ^ I know a couple of Brits in Huahin who receive the additional payments.

  22. #97
    I am in Jail
    stroller's Avatar
    Join Date
    Mar 2006
    Last Online
    12-03-2019 @ 09:53 AM
    Location
    out of range
    Posts
    23,025
    ^^^
    You'd be surprised at the (high) amount some folks get out of state pension... it really depends on the country and circumstances.

  23. #98
    I am in Jail
    stroller's Avatar
    Join Date
    Mar 2006
    Last Online
    12-03-2019 @ 09:53 AM
    Location
    out of range
    Posts
    23,025
    Quote Originally Posted by can123 View Post
    America = Social Security

    UK = Retirement Pension
    Ah, thanks, that explains it. "Social Security" payment in Germany means something different entirely, it supplements your income/pension to what's the minimum acceptable living standard. Only applicable if you stay in the country.

  24. #99
    Thailand Expat

    Join Date
    Sep 2014
    Last Online
    Today @ 03:21 PM
    Posts
    18,512
    Quote Originally Posted by can123 View Post
    Quote Originally Posted by Seekingasylum
    The current maximum UK state pension for a single person is around £116 per week, about $8,000 per year.
    Wrong. You pay no regard to the earnings component. My pension is more than 33% greater than this.
    What is it about you fucking pedantic Taffies? Of course it's more complicated than I set out but my reply was to give the basic maximum for those who may not have accrued benefit under SERPS etc of which there are fucking millions. The guy wanted an idea of the basic state pension allowance and when it was payable, for fuck's sake you retarded valley fucker.
    In any event, anyone employed in public service who paid NI contributions at a reduced rate would not qualify for any enhanced payment under the old scheme and would only receive the current rate of £115.90 per week - i.e. policemen, teachers, civil servants and armed services personnel.
    Under the new "unified scheme " the maximum will be £151 per week ( as currently proposed ) and that includes fucking sheep shagging twats like you even with with your SERPs, so fuck you. There will be losers under the new scheme and that includes folk who paid more into their SERPS.
    Also, those public servants will not be entitled to receive the max allowance in 2017 because of their reduced contributions but I don't think a septic would be too interested in that, you Welsh twat.

  25. #100
    Thailand Expat terry57's Avatar
    Join Date
    Mar 2007
    Last Online
    07-12-2022 @ 03:12 PM
    Posts
    26,746
    Quote Originally Posted by jamescollister View Post

    They could change the rules tomorrow, no pensions or Super paid to non residences, you have no say.


    I think you are getting a Tad emotional here Jim.

    Gaining access to ones Super will never be a problem simply because it is ones own money.

    Regards a State pension,

    I recon you are on the money, they have already talked about phasing it out and that's why Super is compulsory for all Australians. They want us all to provide for our own retirement.

    All Australians living in Thailand on Australian pensions are living a slippery and uncertain existence.

    The Government could wipe that out with the stroke of a pen and I recon it ain't that far off.

    Hence one must be secure in the knowledge he can provide for himself financially and Fuk the State Pension.

Page 4 of 8 FirstFirst 12345678 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •