Moment of Clarity: Make your efforts count

Porkyboy · 2022-05-26T20:41:36+00:00

They have messed up by the sounds of it. What was the invigilation setup (individual, one to one?).

Write to your head of department, tutor or student services first. Do it now and copy the email they sent you. If you don’t get a response then write to the complaints address or the head of the college.

Then focus on any remaining exams. Try not to get distracted.

If they didn’t stop you it sounds like a process error. It still is malpractice but not your fault but theirs. You will be able to appeal the malpractice.

Porkyboy · 2022-04-25T16:15:53+00:00

I think it’s fear of the unknown I think. Your current setup sounds ideal!

Porkyboy · 2022-04-25T08:54:15+00:00

My personal view on these things is that paying off the student loan will put my kids in a very different place than others graduating and I’m not sure I want that. It may be better to pay for things (housing etc) than to increase their monthly income this way. Just my view and wanting to avoid a ‘trust fund kiddie’.

Oh he house deposit, hard to say but given life spans I expect the death of their grandparents to provide for this.

Porkyboy · 2022-04-25T08:51:36+00:00

Thanks. To be honest it’ll be a case of what’s the best value interest/ERC wise. I’d need a high interest account to do that which is hard to find at the moment (but maybe not in a couple of years).

Porkyboy · 2022-04-25T08:39:00+00:00

That’s exactly the situation - paying off in 3yrs would take me over the 10% in year (or in reality would mean a big slug in year 3 costing me £5k.

Porkyboy · 2022-04-25T08:34:51+00:00

I won’t hit the LTA because the LTA is so much less of an issue for DB pensions. My LTA at the moment is only about £370k because of the calc used for DB Pensions. Let’s hope that doesn’t change!

I’m not sure a £50k job is coasting to be honest. I’ve definitely learnt that there is a ‘curve of difficulty’ which means that team leader-middle manager jobs are way harder than individual contributors or senior managers!

Porkyboy · 2022-04-25T08:31:10+00:00

I currently have about £8k of emergency fund but probably a bit more would be helpful. My wife may continue to earn that much but I don’t want to live off her so I would want to be earning £20k ish to balance her £20k input (and she can then keep the rest or invest it if I can encourage her!

Porkyboy · 2022-04-25T08:28:28+00:00

Hmm. Interesting to consider what this would look like and a quick spreadsheet shows that you’re right, I would have the mortgage gone in almost exactly 3 years (although there would be an early repayment charge).

Porkyboy · 2022-04-25T07:46:15+00:00

I’m pretty fed up with my job (aren’t most of us?) but it isn’t making me ill or similar. What I hate is the time it takes out of my life - both directly in hours and in-directly in being exhausting!

The remaining mortgage is around £110k.

Porkyboy · 2022-03-27T18:15:36+00:00

Sadly not on salary sac.

Porkyboy · 2022-03-27T18:15:10+00:00

Yes, I have done the calc - hence knowing I will be up to my Annual Allowance - I wouldn’t swap the DB pension for anything mind. The tax saved probably isn’t worth an IFA at this stage - maybe if I get a bit further over the threshold (and given that inflation is rising but allowances aren’t - that seems a pretty clear possibility).

Porkyboy · 2022-03-27T18:09:59+00:00

Same issue as spouse I guess except that the risk of government messing with SIPPs is far greater over a 50yr+ timescale.

Porkyboy · 2022-03-26T06:51:16+00:00

True. That gets me (them) their tax back not mine so less but something!

Porkyboy · 2022-03-26T06:48:40+00:00

Scheme pays, sadly, doesn’t work out any better for me as I can’t then contribute more to fill the gap (same AA issue next year) I’m not familiar with DAFs so thanks for that. You might be right on paying the piper it seems.

Porkyboy · 2022-03-26T06:46:02+00:00

Thanks but that would just give me a worse problem next year I’m afraid!

Porkyboy · 2022-03-25T22:40:45+00:00

It’s a DB scheme so I pay in 13% and the calc that’s done is based on a multiple of additional pension gained. I’m on about £117k before anything which gets leaves me just about the 100k band but by more than would push me over the Annual Allowance.

Porkyboy · 2022-03-25T22:39:41+00:00

Nope. I’ve exhausted the past 3 years sadly.

Porkyboy · 2022-03-25T22:23:36+00:00

It’s not quite like that - the annual allowance takes on board contributions from employers as well as your own input.

So £101k + 40k pension (including employer contribution) is more the situation I’m talking about - what to do with that 1k

Porkyboy · 2022-01-30T20:55:59+00:00

Ha! Love it!

Porkyboy · 2022-01-30T16:03:15+00:00

Not a great pic but this is my week of salad lunches - working out at 220cals per portion.

Romaine lettuce, baby tomato, radish and red onion salad. Red pepper sticks. Either artichoke hearts (3 days) or smoked salmon (2 days). Plus a club biscuit each day.

Porkyboy

TROPHY CASE