Pension Deals – Win Win Lose http://winwinlose.net/ Sat, 25 Sep 2021 06:02:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://winwinlose.net/wp-content/uploads/2021/06/icon-9.png Pension Deals – Win Win Lose http://winwinlose.net/ 32 32 DWP: Universal Credit, PIP, and state pension applicants retired on Christmas bonuses https://winwinlose.net/dwp-universal-credit-pip-and-state-pension-applicants-retired-on-christmas-bonuses/ https://winwinlose.net/dwp-universal-credit-pip-and-state-pension-applicants-retired-on-christmas-bonuses/#respond Sat, 25 Sep 2021 06:02:00 +0000 https://winwinlose.net/dwp-universal-credit-pip-and-state-pension-applicants-retired-on-christmas-bonuses/ This year, beneficiaries will receive a Christmas bonus from the Department for Work and Pensions (DWP). The Christmas Bonus is a one-time tax-free payment of £ 10 before Christmas given to individuals who receive certain benefits during the qualifying week. This is usually the first full week of December. All benefits, pensions and allowances are […]]]>

This year, beneficiaries will receive a Christmas bonus from the Department for Work and Pensions (DWP).

The Christmas Bonus is a one-time tax-free payment of £ 10 before Christmas given to individuals who receive certain benefits during the qualifying week.

This is usually the first full week of December.

All benefits, pensions and allowances are usually transferred to an account, such as your bank account.

It may appear as “DWP XB” on your bank statement.

Who is entitled to the € 10 Christmas bonus?

To qualify for that Christmas bonus You must live in the United Kingdom, the Channel Islands, the Isle of Man, Gibraltar, a European Economic Area (EEA) country or Switzerland during the qualifying week, December 6-12, reports Daily Record.

DWP will notify eligible applicants in writing that they will receive the £ 10 bonus in early December.

What is the Christmas bonus and how do you get it?

You must also receive at least one of the following benefits:

  • Armed Forces Independence Payment
  • Care allowance
  • Dependency
  • Long-term care allowance (paid out as part of industrial accident or war pension systems)
  • Contribution-based employment and support allowance (when entering the main phase of benefits after the first 13 weeks of entitlement)
  • Disability allowance (DLA)
  • Long-term disability pension
  • Unemployment benefit (for widows or widowers)
  • Mobility allowance
  • Annuity loan – the element of guarantee
  • Personal Independence Payment (PIP)
  • State pension (including tiered old-age pension)
  • Severely handicapped allowance (temporarily protected)
  • Unemployment allowance or allowance (paid out under industrial accident or war pension schemes)
  • War disability pension at state retirement age
  • War widow’s pension
  • Widowed mother’s allowance
  • Parental allowance for widowed parents
  • Widow’s pension

If you have not received your state pension and are not entitled to any of the other qualifying benefits, you will not receive a Christmas bonus.

If you live together as a married couple, in a registered civil partnership or as a married couple and both receive one of the creditable benefits, you will each receive a Christmas bonus.

If your partner or life partner does not receive any of the eligible benefits, he or she can still receive the Christmas bonus if both apply:

  • Both of you have exceeded the statutory retirement age at the end of the eligible week
  • Your partner or domestic partner also lived in the United Kingdom, the Channel Islands, the Isle of Man, Gibraltar, a country in the European Economic Area (EEA) or Switzerland during the qualifying week

and either:

  • You are entitled to an increase in an eligible benefit for your life partner or life partner
  • the only qualifying benefit you will receive is the annuity credit

So you claim

You don’t have to claim the Christmas bonus, the DWP pays it out automatically.

If you think you should get it but you haven’t got it, contact them Jobcenter Plus office or Pension center who takes care of your payments.

Get the latest news, updates, activities, and more from your local InYourArea feed.


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IATSE members say they are ready to shut down Hollywood on a strike – pandemic or not https://winwinlose.net/iatse-members-say-they-are-ready-to-shut-down-hollywood-on-a-strike-pandemic-or-not/ https://winwinlose.net/iatse-members-say-they-are-ready-to-shut-down-hollywood-on-a-strike-pandemic-or-not/#respond Fri, 24 Sep 2021 13:15:59 +0000 https://winwinlose.net/iatse-members-say-they-are-ready-to-shut-down-hollywood-on-a-strike-pandemic-or-not/ The reality of an impending Hollywood labor strike is beginning to take hold – one that could halt film and television production in the US and Canada as it resumed after a long, pandemic-fueled shutdown. With an approval vote coming up next weekend among the 13 West Coast residents of the International Alliance of Theatrical […]]]>

The reality of an impending Hollywood labor strike is beginning to take hold – one that could halt film and television production in the US and Canada as it resumed after a long, pandemic-fueled shutdown. With an approval vote coming up next weekend among the 13 West Coast residents of the International Alliance of Theatrical Stage Employees, workers below the line in the guild say they feel a sense of unity.

According to several IATSE members, the mood among members is overwhelming in favor of approving a strike – which gives the guild more leverage in negotiating with film and television producers over a three-year collective agreement that has been going on since May. “In the past there was a lot of discussion between members when a strike was discussed,” a member of IATSE Local 700, who represents the editors, told TheWrap. “This year I would say that about 99% of the talks I have been in support a strike permit.”

The standstill couldn’t be limited to Hollywood. This week, the IATSE also announced plans to hold a vote on strike clearance for the 23 locals representing film and television workers on sets outside of Los Angeles. While the 13 West Coast locals work under the Hollywood Basic Agreement, the 23 nationwide locals work under a separate contract called the Area Standards Agreement, which also cut off talks between IATSE and the Alliance of Motion Picture and Television Producers (AMPTP). IATSE represents more than 150,000 entertainment professionals in the United States and Canada, including editors, cinematographers, hair and makeup artists, production designers, and clients.

If the permit is in place, it does not necessarily mean that there will be a strike. It is expected that the IATSE negotiating committee will return to the negotiating table with a strike threat as additional leverage after the vote. At a time when studios are trying to make up for lost time after months of closures and breaks from COVID-19, a walkout would cause even more disruption than usual.

For the IATSE, there are three main sticking points in negotiations: They strive for a fixed limit to the shooting times in order to avoid 14-hour shooting days, which can lead to exhaustion. They also want higher contributions to the union’s health and retirement plan. But perhaps the biggest problem – one that all workers in Hollywood face – is higher wages and compensation for workers at a time when the streaming boom has caused rapid growth in production demand and profits.

“It is incomprehensible that the AMPTP, an ensemble comprised of media mega-corporations worth trillions of dollars collectively, claims that they are failing to provide the crews behind the scenes with basic human necessities such as adequate sleep, meal breaks and living wages IATSE said in a statement on Tuesday. “Worse still, management doesn’t even seem to see our core issues as issues that even exist. These problems are real for workers and changes are long overdue. “

In its own statements, the AMPTP claims that it has put forward “a comprehensive proposal to close a deal that meaningfully addresses the key negotiating issues of the IATSE” and challenged the IATSE’s claim in a memo to members that the studios did not intend to make a counter offer to the unions latest proposal. “It is unfortunate that the IATSE has taken the route of publishing incorrect information about the negotiations. This approach unnecessarily polarizes the negotiating parties and increases tensions at a time when we should focus on finding ways to avoid a strike, “the AMPTP said in a statement Thursday.

“A strike will wreak havoc on the industry, inevitably causing thousands of IATSE members to lose their incomes, be ineligible for health insurance, jeopardize pension funding and disrupt production,” the statement said. “The manufacturers undertake to reach an agreement at the negotiating table that balances the needs of both parties and keeps the industry going.”

IATSE members who spoke to TheWrap say they are not entirely sure if there will actually be a strike or if the approval vote is enough to convince the AMPTP to agree to more favorable terms. A strike against both the Hollywood and Area Standards Agreements would stop all unionized productions in the US and Canada – from big-screen blockbusters to talk shows.

But the Local 700 member said many members believe they need to draw a hard line now – especially on streaming projects. With new streaming services like HBO Max, Apple TV +, and Peacock still in the early stages of operations and eager to fill their libraries with original shows and movies, many workers feel that Hollywood’s workforce is turning to cheap in the face of an unprecedented demand for more content Compensation agreements must exist.

“If we don’t make strong demands now, it will only get worse in later discussions,” said the member. “The studios still call these streaming shows ‘New Media’. They are no longer “new” media. Not for years. Streaming will be a lot of the work in Hollywood and we can’t set the bar so low on our treatment and pay. ”

A script coordinator who is a member of IATSE Local 871, which represents the worst-paid union workers in the industry, said the stressful conditions on the set have only gotten worse since filming resumed after the pandemic shutdown. She credits social media campaigns around hashtags like #IAStories for organizing members and encouraging them to discuss their struggles with work in the industry and build a united front.

“We may not have another chance like this to make serious changes to working conditions and so many of us can no longer wait for changes,” she said. “A day of shooting for 12 hours, an hour of commuting and less than seven hours of sleep cannot be the status quo. It will burn the people from the industry. ”



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Levine: Accountability and Party Politics https://winwinlose.net/levine-accountability-and-party-politics/ https://winwinlose.net/levine-accountability-and-party-politics/#respond Thu, 23 Sep 2021 20:51:01 +0000 https://winwinlose.net/levine-accountability-and-party-politics/ As I was writing about all the local fiascos and the crazy proposals and deals of recent times, I was looking for a suitable word for it. Lack of supervision comes close, but does not get to the bottom of the matter. Incompetence is difficult to prove, even when the results clearly indicate underperformance. What […]]]>

As I was writing about all the local fiascos and the crazy proposals and deals of recent times, I was looking for a suitable word for it. Lack of supervision comes close, but does not get to the bottom of the matter. Incompetence is difficult to prove, even when the results clearly indicate underperformance.

What I finally agreed on is accountability. How are people in government held to any performance standards? What is the consequence of poor performance? We don’t distribute grades like in school. We don’t do performance reviews like we do in industry. We don’t stick stars on helmets like in football.

Harvey Levine

(Courtesy photo)

Well, you could say that we, the people, hold them accountable when we cast our votes. But are we really doing that? For example, let’s look at our recent Mayor elections for San Diego. In 2013, when an election was held to fill the seat of the disgraced Mayor Bob Filner, the Republican Party took the party believers out of the box by backing Kevin Faulconer and persuading candidate Carl DeMaio to stand against incumbent Scott Peters to run for Congress.

In 2020 it was the turn of the Democratic Party, which, with money and support, pushed all the buttons to tip the scales in favor of Todd Gloria versus challenger Barbara Bry. In fact, the people did not vote for the democratic candidate. The party did it. Bry ran the race in cement sneakers, while the party gave Gloria a pair of eagle wings and a barrel of cash.

So in reality our officials are not accountable to the voters – only the party and big money (power brokers). It’s about power and patronage. Not accountability. It is just the way it is. And as long as it stays that way, accountability as we know it will not be found in government.

Most of it happens in the primaries. When we get to the parliamentary elections, we usually don’t have a candidate, but rather a party election, as most voters cast their votes according to party lines. Accountability therefore comes down to not shaking the boat within the party. So where do we find someone to call out the incumbent for incompetence, misconduct, or poor performance? Occasionally the media expose the problems. But nothing changes. Will we ever see responsibility for all the bad real estate deals in San Diego? There is no penalty for poor judgment or shaky business.

This is how the system works. We think we have a democracy. But it sure doesn’t look like that. When it comes to representing your voters, speaking with your own voice or being obedient to the party leadership, the party leadership almost always wins. We choose an army of preprogrammed robots. What we see in Washington, DC, we see in Sacramento and San Diego Counties. Nobody wants to be “primary”.

So when it comes to accountability, we have little opportunity to hold candidates accountable for their crimes. Officials who get mixed up often remain in their government or service posts. I reluctantly voted for someone implicated in the San Diego retirement scandal that saw their retirement benefits increase in complete disregard of data showing that funding goals were not being met. My only option was to vote for the party election or the other party’s candidate.

I joined my party’s local political club to learn more about the people and the issues. I’ve learned a bit about how the party works and I find it unsettling. Much of it uses muscle power to faithfully mold the party into a position prescribed by the party leaders. The main focus is on the recommendations. But sponsored candidates are often eligible for larger submissions, so our democratic process for voting on sponsoring upends the balance in the main competitions. Eventually a list of endorsements will be published and we will be asked to promote the party list only. Confirmations are useful for voters who often have no idea where the candidates stand. But for the most part, these advocates reflect the political bonds a candidate has submitted. Or where the money is.

Nineteen years ago, Congress passed the bipartisan Sarbanes-Oxley Act, designed to protect investors from fraudulent corporate financial reporting. A major problem driving SOX (as it has been called) has been the tendency for companies to inappropriately report the value of their activities and the progress of initiatives. Whether it was incompetence or willful deception, there had to be a way to ensure accountability, and SOX set the rules. Some of what we see in local government can well fall under the definition of fraud. Perhaps it is time for government agencies to submit to their own SOX rules.

I don’t know how we can find a reasonable solution to this situation. But as long as the system works like this, I see no reason to suppress the inflation of wrongdoing and neglect in government. Without responsibility and consequences, it will go on as usual.

Levine, a Rancho Bernardo resident, is a retired project management consultant and the author of three books on the subject.


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Moneyfacts: Consumers are looking for stability with fixed interest rates https://winwinlose.net/moneyfacts-consumers-are-looking-for-stability-with-fixed-interest-rates/ https://winwinlose.net/moneyfacts-consumers-are-looking-for-stability-with-fixed-interest-rates/#respond Wed, 22 Sep 2021 16:13:31 +0000 https://winwinlose.net/moneyfacts-consumers-are-looking-for-stability-with-fixed-interest-rates/ An estimated 80% of those looking for a mortgage in August were looking for a fixed income product, according to the latest risk, availability, and demand data from Moneyfact’s Residential Mortgage Analyzer. According to Moneyfacts, this will suggest that borrowers may prefer fixed rate mortgages in times of economic uncertainty, possibly due to budgetary ability […]]]>

An estimated 80% of those looking for a mortgage in August were looking for a fixed income product, according to the latest risk, availability, and demand data from Moneyfact’s Residential Mortgage Analyzer.

According to Moneyfacts, this will suggest that borrowers may prefer fixed rate mortgages in times of economic uncertainty, possibly due to budgetary ability and protection from future interest rate volatility.

The data also found that those whose 2016 5-year fixed-rate mortgages are now maturing and are now looking for a similar product will find at 2.63%, the average total fixed rate is 0.41% lower than at securing their existing deal.

interest charges

Moneyfacts: 2- and 5-year rates fall for the third month in a row

Likewise, the average rate on 2-year fixed-rate mortgages is 2.38%, 0.08% below the corresponding rate in September 2019, so even those who take out a 2-year fixed rate may find a more competitive offer.

The availability of 10-year fixed-rate mortgages remained relatively stable with 128 transactions. The selection was 31 fewer than in September 2019, but compared to 2016 there was one more option than five years ago.

Darren Cook, Head of Analyzer Products at Moneyfacts, said, “The risk, availability and demand data from Moneyfacts Residential Mortgage Analyzer shows that mortgage customers seem to appreciate the impact of the Bank of England base rate and future inflation rates on interest rates since a whole and what type of mortgage they want to apply for.

“Our latest study shows that more than eight in ten (81.04%) consumers looking for a new mortgage in August were looking for a fixed-rate mortgage availability.

“As a result, less than 20% of consumers are looking for adjustable rate mortgages, which could suggest that the vast majority of potential new mortgage owners are risk averse in the current economic climate.

“Currently, just under nine out of ten (87%) of all fixed-rate mortgages available on the market are either 2- or 5-year initial rate contracts that 36.18% of consumers after a 2-year fixed-rate mortgage and 28.40% after looking for a 5 year contract.

“Long-term financial stability could also be a priority for consumers as the economy develops, as 8.93% of demand is taken up by those looking for a 10-year fixed-rate mortgage.”


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Manhattan West poaches Reggie Tucker as a “turning point” when the Los Angeles VC’s “deal flow” reaches critical mass and hires the RIA startup like crazy in 2016 to seize a once-in-a-lifetime opportunity https://winwinlose.net/manhattan-west-poaches-reggie-tucker-as-a-turning-point-when-the-los-angeles-vcs-deal-flow-reaches-critical-mass-and-hires-the-ria-startup-like-crazy-in-2016-to-seize-a-once-in-a-lifetime-opportu/ https://winwinlose.net/manhattan-west-poaches-reggie-tucker-as-a-turning-point-when-the-los-angeles-vcs-deal-flow-reaches-critical-mass-and-hires-the-ria-startup-like-crazy-in-2016-to-seize-a-once-in-a-lifetime-opportu/#respond Wed, 22 Sep 2021 03:41:00 +0000 https://winwinlose.net/manhattan-west-poaches-reggie-tucker-as-a-turning-point-when-the-los-angeles-vcs-deal-flow-reaches-critical-mass-and-hires-the-ria-startup-like-crazy-in-2016-to-seize-a-once-in-a-lifetime-opportu/ The 46-year-old venture capital insider from Los Angeles joins CEO Lorenzo Esparza’s startup specializing in media and entertainment. Lorenzo Esparza is better hiring to get a lot bigger and now has his 47th employee, Reggie Tucker, on board to prove it. His ADV only counted 13 employees in April. The 47-year-old CEO of Manhattan West […]]]>

The 46-year-old venture capital insider from Los Angeles joins CEO Lorenzo Esparza’s startup specializing in media and entertainment.

Lorenzo Esparza is better hiring to get a lot bigger and now has his 47th employee, Reggie Tucker, on board to prove it. His ADV only counted 13 employees in April.

The 47-year-old CEO of Manhattan West Asset Management grabbed the 46-year-old executive director of the $ 18 billion Orange County Employees Retirement System (OCERS).

Lorenzo Esparza: “We are not the RIA that sells to another RIA.”

He hopes to carry Tucker’s deep private equity roots into the clay of his 2016 startup. See; Lorenzo Esparza leaves JP Morgan in LA to start Manhattan West under the guidance of Schwab

“An investor of Reggie’s caliber and background joining Manhattan West is a real turning point for the company,” Esparza said in a press release.

The turning point lies in the major leagues of investing. The Manhattan West RIA unabashedly sees itself primarily as a cold-blooded thoroughbred investor in the hottest deals.

“We are not the RIA that sells to another RIA,” says Esparza. “We want to be the next TPG or Apollo.”

TPG manages more than $ 100 billion in private equity out of San Francisco and Apollo manages more than $ 400 billion in private equity out of New York City.

Right now, Manhattan West is a small RIA shop with about $ 300 million in assets under management, but with its additional $ 500 million in venture and real estate funds, it has what it takes to be a young unicorn too, the company says.

‘It’ factor

Managing these assets requires the type of premium fees – from 300 basis points to 500 basis points – required to pay top talented investors. Manhattan West offers additional tax services and CFO services that generate professional fees.

Esparza is hiring dozens of people in the near future, with the talent preying of a prospector who sees nuggets glimmering in the shallow depths for miles and miles of a pristine creek.

He offers employees, including Tucker, the opportunity to acquire equity in the company as an incentive to get on board, work hard, and stay. But Tucker’s stature marks a threshold.

“[Tucker] wanted to prove that he can [succeed in venture capital] as a lead manager, “he says in an interview – something he expects.

“There’s an ‘it’ factor,” he adds. “He’s an incredibly talented, well-trained, dearest guy, very intellectual, thoughtful and a unique character. That fits. We only got extremely good feedback. “

Offers for the middle market

What Esparza sees is a rapidly emerging market in Los Angeles with startups that are hungry and worthy – VC or private equity support with no company left in control of the market.

“The deal flow is real,” says Tucker of the market opportunity. “After spending a lot of time in New York … it’s a different ecosystem … a lot of the flow comes right here in LA.”

Not only does Esparza claim to have a local advantage in store placement, but many of the hot companies seeking capital come from Hollywood’s media and entertainment culture.

Esparza is a former Paramount manager with entertainment fanatics.

He also knows medium-sized businesses. His last stop before breaking down to start his own RIA was JPMorgan Securities, the renamed remnants of the old, high-performing Bear Stearns franchise.

Esparza has already acquired 13,000 square feet of Class A plus office space in Century City near its old JPMorgan office.

His first office is in more modest premises in Manhattan Beach, California. See: Some RIAs are preparing to reopen in bigger, better offices – some at “Covid” prices – to meet customers with a big one-on-one Warning: Vaccinations Mandatory

Greater fate

Although some of his Alts funds draw capital from his own RIA investors, he gets even more from outsiders, particularly single family offices.

When asked about the potential conflicts in placing Manhattan West client assets into proprietary Manhattan West funds, Esparza says he’s largely opposed to the notion that open architecture is inherently better.

“I like the idea of ​​leaning against it [as a wealth manager] in your own [investment management] Strategies, ”he says.

He adds, “JPMorgan got into trouble because it sold equity funds – we’re disclosing everything … we don’t see it as bad, we see it as good.”

What he believes is insincere is the notion that consultants invest assets with the “best managers” because managers are only seen as the best in hindsight when they have a track record of five years or more.

Though Manhattan West is still modest in terms of assets under management, Tucker says it has a bigger fate firmly under control near the street.

“The chances of getting up are much higher and the downsides are very small,” he says.

“Lorenzo has built something phenomenal over the years. If there is someone who can do a major upgrade … joining Lorenzo is about as risk-free as it gets.”

Write a small check

However, Tucker points out that in return for a job at Esparza, he risks a fairly safe promotion to chief investment officer. He became interested in his old job internally and externally after having played in the major leagues for decades.

He spent the last two years at OCERS after migrating west from the $ 200 billion New York State Common Retirement Fund (NYCRF) and the $ 50 billion State of Connecticut Retirement Plans and Trust Funds (CRPTF).

Tucker explains that his large wealth pools could be an albatross to his investment endeavors.

“The small investments off the radar were usually oversubscribed,” he says. “You need direct access. It’s a big part of what I’ve done.”

Esparza agrees. “A $ 300 million fund is too small to be on JP Morgan’s platform.

“We have a niche for doing high quality business that JP Morgan can’t even look at because it’s too small. They manage billions of dollars, they can’t write such a small check, ”he says.

Esparza has recruited Tucker as his 10th dedicated venture capitalist with a narrow goal of investing in his new Opportunity and Growth fund with the broader goal of attracting all of the key talent and connections in a small market that should get bigger.

Do justice

Manhattan West manages lower-end mid-market private equity, venture capital (i.e., growth companies), multi-family and industrial real estate investments, and private debt. See: JP Morgan Breakaway RIA Manhattan West takes unusual hires with an ambitious plan to give money to people who tend to avoid banks

“AUM is something that would be important to a ‘traditional’ RIA,” explains Esparza. “Not Manhattan West. We look at other KPIs [key performance indicators] which ultimately increase our sales. “

Manhattan West declined to disclose further KPIs.

The Manhattan West SEC’s ADV, filed April 27, announces that it has 13 employees and manages $ 204 million.

“To be honest, we never liked being called the RIA. In all honesty, we feel like it is pigeonholed and just one element of what we build, ”he wrote in a recent column.

“That doesn’t quite do us justice.”


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Rising headwind? Inflation and your pension https://winwinlose.net/rising-headwind-inflation-and-your-pension/ https://winwinlose.net/rising-headwind-inflation-and-your-pension/#respond Tue, 21 Sep 2021 15:26:04 +0000 https://winwinlose.net/rising-headwind-inflation-and-your-pension/ Inflation is an old enemy that is almost forgotten in many countries. But should we start worrying again, and what impact could that have on our pensions? In extreme cases, inflation has been a historic nightmare. Germany faced ruinous hyperinflation shortly after World War I when it printed money to pay off war debts and […]]]>

Inflation is an old enemy that is almost forgotten in many countries. But should we start worrying again, and what impact could that have on our pensions?

In extreme cases, inflation has been a historic nightmare. Germany faced ruinous hyperinflation shortly after World War I when it printed money to pay off war debts and heavy reparations. A loaf of bread, which cost 160 marks in 1922, rose to an unbelievable 200 billion marks in the following year. People burned banknotes to keep warm, their currency was worthless.

Nobody claims that this phenomenon will repeat itself today in OECD countries, including the UK. However, inflation has increased. US prices rose 5.3% in August 2021 compared to August 2020. Average house prices in the UK rose 8% over the course of the year through July 2021, according to the Bureau of National Statistics, up from 13.1% in June 2021. That was the highest annual growth rate the UK has seen since November 2004.

Inflation is the moth that is eating up your savings and income

The consumer price index (including owner-occupier housing costs) is also a cause for concern, up 3% in August 2021, up from 2.1% in the 12 months to July. That was six times the August 2020 figure of 0.5%, with fuel, used cars and groceries soaring over the course of 2021.

But how real is this inflation figure? Measures rely on baskets of goods and services, and statisticians have not caught up with our pandemic-induced spending changes: less on airfares, coffee / sandwich bars and commuting, more on technology, gadgets and home improvement. In addition, it is difficult to determine the spending profiles of a universal loan applicant and a wealthy suburb.

Wall of money

But there are strong headwinds. As the pandemic subsides, a wall of money is waiting to be spent, with UK savers saving £ 220 billion as of February 2020. This excess cash combined with supply shortages is driving prices up. Indeed, the Bank of England is forecasting inflation to hit 4% by the end of the year, with pressure from the phasing out of the reduced VAT in hospitality and hotels on March 30th. Also in the pipeline is a massive hike in Ofgem’s gas cap on October 1 by £ 139: this will affect 9 million customers after record gas hikes.

However, the Bank of England thinks inflation is a temporary spike that will subside in 2022. The worries remain, however. Some even believe that the quantitative easing program – launched by the Bank of England in response to the 2009 financial crisis – put $ 895 billion in bonds.

The pandemic was an even bigger economic shock. Alistair McQueen, Head of Savings & Retirement at Aviva, notes that “UK GDP fell by a quarter in the first few months of 2020. In response, the UK government spent an additional £ 350 billion. This is on top of “UK governments spending £ 850 billion a year before the pandemic”.

In fact, the national debt has hit a peace high of £ 2.2 trillion in the past 18 months – the equivalent of £ 80,000 for every UK household. One bright spot is that, thanks to low inflation and low interest rates, credit has never been so cheap.

But at some point debts will have to be paid back, or Britain could end up being just another Weimar Republic. If the inflation storm still blows next year, interest rates must rise.

Manage inflation risk

Most defined benefit pension plans manage inflation risk by hedging with a liability-based investment strategy. Some systems also use indirect inflation hedging investments, such as infrastructure and real estate investments, that have some inflation linkage.

“If the current fear of inflation spreads, the demand for portfolio protection in this form will likely increase,” predicts Tappan Datta, head of asset allocation at Aon pension advisors. “Commodities could then also look attractive again, which pension funds have tended to avoid due to their relatively poor and very volatile returns.”

What about retirement savers?

Saving money is not a good way to finance retirement. Most accounts only pay 0.1% interest per year, or 10p on £ 100. According to Moneyfacts, no standard savings account can beat today’s inflation rate of 2.1%. Last year, 91 deals exceeded the then inflation rate of 1%.

Ian Burns, director and actuary at Buck pension firm, advises workers “to fight inflation on pension savings as a percentage of their salary instead of a fixed amount or a one-off contribution. Your pension contributions will then rise with salary growth, which will likely be higher than inflation throughout your career. “

Stocks are typically viewed as a natural investment for real returns relative to inflation, he says. Dividends on stocks can also be attractive and grow with inflation, with the dividend yield currently being around 3.4% of the FTSE 100.

“Investors need to be willing and able to invest for the long term (10-15 years or more) and also be aware of market prices at the time of investment,” says Burns. “Investing a regular amount every month is very different from investing a large lump sum.”

For retirees

Retirees shouldn’t leave too much cash in the bank beyond what they need for two or three years. This is because inflation can devastate household budgets, especially those of private sector workers who rarely have index-linked defined benefit schemes. Anyone lucky enough to have such a pension should normally increase it every year, broadly in line with inflation.

Incidentally, “inflation is the moth eating up your savings and income,” said Andrew Tully, Canada Life technical director. For the nearly 7 million people who retire on a steady income, such as a retirement pension, he warns that 3% inflation will cut purchasing power in half in just 20 years.

Tully advises “using some form of equity investment as part of a balanced portfolio. The combination of drawdown and annuity can give people the flexibility to deposit a guaranteed income to pay the bills while keeping money invested to pay for the little luxuries in life and protect themselves from inflation. “

Finally, a bulwark against inflation is the state pension, the basis of people’s pension income. This increases through “the triple lock” – the highest of inflation, earnings and 2.5% – and at least keeps pace with inflation. But there are no guarantees. McQueen warns, “Rising price and wage inflation could add billions of pounds to the cost of public pensions. This has forced the government to step back from its manifest commitment to maintain the triple ban for a year. “

Be prepared for gusts.



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Sanlam sells British property line for £ 140 million https://winwinlose.net/sanlam-sells-british-property-line-for-140-million/ https://winwinlose.net/sanlam-sells-british-property-line-for-140-million/#respond Mon, 20 Sep 2021 15:03:21 +0000 https://winwinlose.net/sanlam-sells-british-property-line-for-140-million/ Sanlam has sold its UK wealth management division, Sanlam Wealth, to private equity firm Oaktree Capital Management for £ 140 million. Oaktree already owns IFA consolidator Ascot Lloyd, but the two businesses will continue to operate independently, according to a press release released today (Sept. 20) by Sanlam. The private equity firm’s transaction is expected […]]]>

Sanlam has sold its UK wealth management division, Sanlam Wealth, to private equity firm Oaktree Capital Management for £ 140 million.

Oaktree already owns IFA consolidator Ascot Lloyd, but the two businesses will continue to operate independently, according to a press release released today (Sept. 20) by Sanlam.

The private equity firm’s transaction is expected to close in the first quarter of 2022 and is subject to regulatory approval.

After the transaction, the wealth division will continue to operate under the Sanlam Wealth brand and the new owner intends to make Sanlam Wealth “an independent and agile wealth management company”.

But a new brand and identity for the business will be announced in due course.

Jonathan Polin, Chief Executive of Sanlam UK, will continue to lead the new business together with “key members” of the management team, with a full leadership team for the realigned business to be announced “when the time is appropriate,” said Sanlam.

Polin took over the interim management of Sanlam Wealth in July after the departure of John White.

He said: “The sale of Sanlam Wealth to Oaktree ensures that the business will remain operationally strong and financially stable over the long term, while also allowing us to move forward as a faster and more agile independent asset manager.

“This will be a new company with a new purpose and way of working, with a renewed commitment to delivering the best products and services to our customers.

“We will have more autonomy to adapt to the needs of our employees and I look forward to working with Oaktree to evaluate and implement the opportunities presented to us as we all want to share in the company’s future successes.”

Federico Alvarez-Demalde, Managing Director of Oaktree, described Sanlam Wealth as “a strong platform for growth in the fragmented wealth management market”.

He continued: “Our investment will be aimed at providing excellent products and services for customers, providing development opportunities for employees and supporting management in the implementation of its innovative acquisition strategy.”

Earlier this month, Chesnara, a pension and protection consolidator, bought Sanlam’s annuity business for £ 39 million.

The award represented a 19 percent discount on the company’s estimated value of £ 48 million.

The deals come after Sanlam confirmed last month (Aug 26) that it will cut its network of advisors as it no longer fits its business model.

The liquidation followed a spate of consultant exits after faced a change in their fee model, with all appointed agents charging at least £ 20,000 regardless of size.

About 30 appointed agents have filed their resignation and 10 had left the network by July last year, but Sanlam has indicated that fees were not necessarily the cause in all of these cases.

For advisors who rely on Sanlam to act as appointed agent, winding up means moving to another network or being authorized directly by the Financial Conduct Authority.


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People with universal credit, pension and benefits to receive Christmas bonus https://winwinlose.net/people-with-universal-credit-pension-and-benefits-to-receive-christmas-bonus/ https://winwinlose.net/people-with-universal-credit-pension-and-benefits-to-receive-christmas-bonus/#respond Sun, 19 Sep 2021 13:21:02 +0000 https://winwinlose.net/people-with-universal-credit-pension-and-benefits-to-receive-christmas-bonus/ The Department for Work and Pensions wants people on welfare to pay a Christmas bonus this year – an annual top-up to pay for the holiday season. The bonus this year, which is £ 10 like last year, can be a small consolation for people who will be losing £ 20 a week from next […]]]>

The Department for Work and Pensions wants people on welfare to pay a Christmas bonus this year – an annual top-up to pay for the holiday season.

The bonus this year, which is £ 10 like last year, can be a small consolation for people who will be losing £ 20 a week from next month onwards.

The reduction will take place if additional payments to people with universal credit are suspended due to the coronavirus pandemic.

At the end of a year when money will be tighter than ever, the extra £ 10 will be welcome for those with PIP and Universal Credit, reports The Express.

The Christmas Bonus website states: “The Christmas Bonus is a one-time tax-free payment of £ 10 before Christmas given to individuals who receive certain benefits during the qualifying week. This is usually the first full week of December.

“You don’t have to make any claims – you should get paid automatically.”

The extra cash doesn’t affect any other benefits you get.

It goes to the usual account you use to make your payments and may appear on your bank statement as DWP XB.

To receive a Christmas Bonus you must be present or habitually resident in the UK, Channel Islands, Isle of Man or Gibraltar during the qualifying week.

In addition, during the “qualifying week” – which is usually the first full week of December – you must have at least one of the following:

  • Armed Forces Independence Payment
  • Care allowance
  • Dependency
  • Child benefit in the event of disability
  • Long-term care allowance (paid out as part of industrial accident or war pension systems)
  • Contribution-based employment and support allowance (when entering the main phase of benefits after the first 13 weeks of entitlement)
  • Disabled Life Support
  • Long-term disability pension
  • Unemployment benefit (for widows or widowers)
  • Mobility allowance
  • Annuity loan – the element of guarantee
  • Personal Independence Payment (PIP)
  • State pension (including tiered old-age pension)
  • Severely handicapped allowance (temporarily protected)
  • Unemployment allowance or allowance (paid out under industrial accident or war pension schemes)
  • War disability pension at state retirement age
  • War widow’s pension
  • Widowed mother’s allowance
  • Parental allowance for widowed parents
  • Widow’s pension

If you have not received your state pension and are not entitled to any of the other qualifying benefits, you will not receive a Christmas bonus.

You don’t have to claim the Christmas bonus – you get it automatically.

If you think you should get it but you didn’t, contact the Jobcenter Plus office that handles your payments or the Pension Service.

More stories from where you live can be found at Near you.


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Universal loan, PIP and annuity recipients in line with the December bonus https://winwinlose.net/universal-loan-pip-and-annuity-recipients-in-line-with-the-december-bonus/ https://winwinlose.net/universal-loan-pip-and-annuity-recipients-in-line-with-the-december-bonus/#respond Sat, 18 Sep 2021 12:10:00 +0000 https://winwinlose.net/universal-loan-pip-and-annuity-recipients-in-line-with-the-december-bonus/ Anyone who receives Universal Credit, PIP, or state pension benefits will receive a bonus before Christmas this year, the government has announced. That means a little more money for anyone who is retired, receiving disability payments, looking for work, or earning a low wage. The Christmas Bonus is a one-time tax-free payment made before Christmas […]]]>

Anyone who receives Universal Credit, PIP, or state pension benefits will receive a bonus before Christmas this year, the government has announced.

That means a little more money for anyone who is retired, receiving disability payments, looking for work, or earning a low wage.

The Christmas Bonus is a one-time tax-free payment made before Christmas to those who receive certain benefits and payments in the qualifying week, The Express reported.

Read more stories from LeicestershireLive’s news sites in the UK and around the world here.

There are less than 100 days until Christmas, which can be more expensive for many people.

While the payment is only worth £ 10, it can be welcome during the Christmas season.

All benefits, pensions and allowances are usually transferred to a freely selectable account, for example a bank account, a building society account and a credit union account.

The Department of Labor and Pensions (DWP) has clarified the matter, saying that one should look for a key token on a bank statement. The bonus should appear as ‘DWP XB’.

However, in order to receive the Christmas bonus, a person must meet eligibility requirements. Fortunately, this isn’t too strict, which means a lot of people can benefit from it.

Individuals must be present or habitually resident in the UK, Channel Islands, Isle of Man or Gibraltar during that qualification week that year.

The qualification week is particularly important for the Christmas bonus, as this ensures eligibility. The DWP has confirmed that this is the first full week of December.

Unfortunately, this means that expats living abroad may not benefit in this way. Individuals living in a country in the European Economic Area (EEA) or Switzerland are encouraged to contact the government on this matter.

Universal Credit, State Pension, and PIP are a number of payments that can benefit from the Christmas bonus, but there are various other benefits and payments that are also eligible.

These include:

  • Care allowance
  • Dependency
  • Disabled Life Support
  • Annuity loan – the element of guarantee
  • War widow’s pension
  • Widow’s pension

However, the DWP has issued another warning to people who believe they may be eligible for a Christmas bonus.

The website states: “If you have not drawn your statutory pension and are not entitled to any of the other qualifying benefits, you will not receive a Christmas bonus.”

Fortunately, individuals do not need to take any action to receive or claim the Christmas bonus. People should get this type of payment automatically.

Anyone who thinks they have a Christmas bonus but is not getting a Christmas bonus is asked to contact the Jobcenter Plus office, which is responsible for the payment, or, alternatively, the pension service.

Anyone who lives in a married couple, in a registered civil partnership or at the same time together and both receives one of the creditable benefits, each receives their own Christmas bonus.

People whose life partner or life partner does not receive any of the creditable benefits can, under certain circumstances, still receive the Christmas bonus.

This is the case when both of the following conditions are true:

  • Both persons have passed the statutory retirement age at the end of the eligible week
  • The domestic partner or domestic partner was “ordinarily resident” or present in the United Kingdom, the Channel Islands, the Isle of Man, Gibraltar, the EEA or Switzerland during the qualifying week

and either:

  • The person is entitled to an increase in an eligible benefit for their life partner or life partner
  • The only Eligible Benefit a person receives is the Pension Credit

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Weekend FTB: What do the Maple Leafs Rookies look like? https://winwinlose.net/weekend-ftb-what-do-the-maple-leafs-rookies-look-like/ https://winwinlose.net/weekend-ftb-what-do-the-maple-leafs-rookies-look-like/#respond Sat, 18 Sep 2021 10:00:00 +0000 https://winwinlose.net/weekend-ftb-what-do-the-maple-leafs-rookies-look-like/ The Toronto Maple Leafs played two games at the Prospect Showcase tournament in Traverse City. They had leads on both, lost leads and ended up winning one and losing one each in overtime. So what would you expect from a rookie exhibition tournament. Here are some quick thoughts on how different significant players have looked. […]]]>

The Toronto Maple Leafs played two games at the Prospect Showcase tournament in Traverse City. They had leads on both, lost leads and ended up winning one and losing one each in overtime. So what would you expect from a rookie exhibition tournament.

Here are some quick thoughts on how different significant players have looked.

Your best players have largely looked like this. Nick Robertson always looked like the best on the ice, and I can’t help but think that he missed Hayley Wickenheiser’s advice to take a chill pill to heart. Dude is not cold and is trying all the time. Mikhail Abramov, SDA and Gogolev looked fine too, but not Robertson’s level.

Alex Steeves was a pleasant surprise and it’s sad that he suffered a shoulder injury and didn’t even finish the first game. Most college free agents sign an AHL deal, but the Leafs signed it with an ELC and it has reportedly been coveted by other teams as well. So they clearly thought he wasn’t your normal old NCAA free agent, and he looked like he was dating Robertson, Abramov, etc. Joey Anderson.

Some notable new additions are Ty Voit, one of their newer perspectives. He played in the first game and looked fast and sly, but was also completely taken out of the game by the very physique team of the Columbus Blue Jackets. He’s been rocked by a couple of big hits and looks just like an OHL contender young and old who hasn’t played in over a year.

Curtis Douglas looks very, hilariously big. He’s not a fast skater, but he’s so damn big and has such a huge reach that it almost doesn’t matter. He’s going to be a fun, defensive, defensive PK specialist in the minors.

The most interesting camp invitation I saw was Braeden Kressler. He’s a short five-foot-six, sometimes a winger, sometimes a midfielder in the OHL, but he plays on the wing in this tournament. His birthday is in 2003, just like Voit, so this year he qualified for the NHL draft for the first time. He wasn’t drafted, but the Leafs seem to like him. He was played with Roberson and Abramov in one of their rookie Intersquad Scrimmages. He was promoted to the top line yesterday with Robertson and SDA, today with Steeves.

It’s hard to tell much from his statistics. The last time he played he was a 5’8 ”rookie in the OHL – especially Flint – and as a 16-year-old had 9 goals and 9 assists in 46 games. For comparison: Ty Voit, who has an offensive profile, had 28 points in 49 games. Voit may have an advantage in the offensive, but Kressler received rave reviews for his entire game when he was just 16.

Here is a quote from Brock Otten (Paywall), an OHL scout for McKeen’s, about unannounced OHL prospects who were not allowed to participate in a game in the past year:

What particularly impressed me about Kressler last year was its versatility. He’s been used in so many different roles by Flint and he found a way to excel in all of them. He showed great offensive instincts and a high level of competition playing on the wing alongside a guy like Ty Dellandrea, working hard to get dump-ins, opening up in the slot and keeping the cycle low. Kressler may not be big, but he is very difficult to catch on the offensive as he masters traffic well thanks to his terrific edge work. His agility and side explosiveness really help separate himself from the defenders outside the puck. He struggled to get many of the chances he was offered so it will be an area to focus on to improve your shot, but he definitely deserved his fair share of it.

Here’s a quote from Elite Prospects’ Draft Guide that also enjoyed their entire game:

“Kressler was one of the smarter players on the ice, always in an open lane to support the game, check his skating and pre-scan for the next game.” David StLouis, Elite Prospects’ lead scout, wrote in a November -Report. “He’s patient with the puck, looking for the best option even when he’s behind him.”

Kressler also brings a quick passing game under pressure and above-average skating. His speed is derived from a healthy stride shape, knees that bend 90 degrees and go past the toes, with his ankle flexing for speed and agility. His skating should remain an asset even at a professional level, mitigating some of the weaknesses that come from being smaller.

These skills are supposed to generate a ton of opportunities for himself or his teammates, but he lacked the finishing to capitalize on. Working on his shot would help. The other problem, however, is that as a smaller striker it will be much more difficult for him to have a real two-way influence at higher levels. He really needs to show enhanced skills that could help make up for a lack of size and strength. Better skating, better stick work, better game anticipation, smart positioning, and so on. He will also need his offensive to take good steps forward and turn the opportunities he creates into more real goals.

It will be interesting to see where the Leafs play him in the other two games in the line-up and how he deals with the chance he’s given.

TO THE LINKS

Maple Leafs signs Nikita Gusev for a PTO | from Katya

2021 Top 25 under 25: Auston Matthews is number 1 | from Katya

2021 T25U25: Last Community Vote | from Katya

2021 T25U25: Official List and Votes | from Katya

The NHL has announced the date and location of the draft next year, so we’ll be hosting a Free Agencies Day again after Canada Day.

The PWHPA season announced that ticket sales will be available soon, but the dates are fixed.

Many Leafs fans were happy yesterday, and some even know why:

And there was an upheaval in the ownership of OHL.



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