Ducati Sporting Club UK > General > Idle Chat > Does this seem right

[Ozz]

Originally Posted by chicken

At least you're making enough contribution on national insurance.

I opened an ominous letter from HMC&E last night that said because there is a £7.12 shortfall on the national insurance I paid for 2004/05, I may not be eligible for a full state pension when I retire.

I think I'd better start hoarding tins of catfood...

Don't worry Chi, there won't be a state pension by the time we retire!

[Gilps]

The broker should provide you with a statement explaining how the figures stack up. Whenever I have done this in the past they do it exactly as you have calculated but without the conversion to Sterling, so they would take your $20 profit per share, deduct their fees + tax at 40% then send me a dollar cheque for the balance. It was then up to me to bank the cheque at whatever rate I negotiated with the bank, and remember that the rate is negotiable. The exchange rates quoted by banks are for the holiday maker changing a few hundred quid. When you start talking tens of thousands you may be surpised at the rates you can get.

[chicken]

Originally Posted by Ozz

Don't worry Chi, there won't be a state pension by the time we retire!

Why? Are they scrapping it next year?

[Ozz]

More than likely. All NI will go to Tony Blair retirement fund...

[Ray]

Originally Posted by chicken

Why? Are they scrapping it next year?

I'm relying on a mouldy collection of old superbike mags and some Beano annuals as a pension plan.

Do I need to see an IFA or a Doctor?

Ray.

PS Jools, at least ya know it was "legit" rather than some slight of calculator!