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  #21  
Old 07.10.2016, 12:17
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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But if it's in a pension it should be in diversified global investments (in multiple currencies), no?


I guess the biggest losers right now are the UK-based savers and house owners...
I don't think it's the investment aspect that's the problem.
Once you've reached retirement age and are drawing on the pension in sterling but living in Switzerland it's the exchange rate that is the major factor.
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  #22  
Old 07.10.2016, 13:08
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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I don't think it's the investment aspect that's the problem.
Once you've reached retirement age and are drawing on the pension in sterling but living in Switzerland it's the exchange rate that is the major factor.
Ah yes I see... tough times
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  #23  
Old 07.10.2016, 13:21
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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I just noticed today that 1 CHF = 0.82 GBP... that's insane.
We're currently doing a full refurb on our house in the UK. We should have started last November but left it until we were a bit more settled in Switzerland and both in receipt of B permits.

We've just worked out what the 11mth delay means for our refurb budget, and the change in exchange rates covers the cost of the new central heating and bathroom. When I can visualise it in physical terms, that's a huge difference.
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  #24  
Old 07.10.2016, 13:26
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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Those sort of no's should make Swiss companies think of off shoring to the UK, rather than bringing UK staff to CH.
It's already happening.
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Old 07.10.2016, 13:38
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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That's what people keep on telling me for the last 15 years... and to be honest: It is happening. But just like anything else here: Very, very slowly. I expect that I have to work longer than people today, so I have another 30 years to go. At the current speed of the development might I be ok.
In which industries salaries have been falling? General data don't show it yet:

http://cdn.tradingeconomics.com/embe...31&h=300&w=600

http://cdn.tradingeconomics.com/embe...31&h=300&w=600

http://cdn.tradingeconomics.com/embe...31&h=300&w=600
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  #26  
Old 07.10.2016, 13:47
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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Ah yes I see... tough times
Ahhh well - I don't really need a new kitchen- and the 3 month trip we've been waiting for all our working lives, to OZ, Tasmania and NZ has been cancelled.
Doesn't matter really.
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  #27  
Old 07.10.2016, 14:02
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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We're currently doing a full refurb on our house in the UK. We should have started last November but left it until we were a bit more settled in Switzerland and both in receipt of B permits.

We've just worked out what the 11mth delay means for our refurb budget, and the change in exchange rates covers the cost of the new central heating and bathroom. When I can visualise it in physical terms, that's a huge difference.
Just wait a couple of days and you will have a new kitchen too; it dipped to CHF 1.20 before lunch
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  #28  
Old 07.10.2016, 14:11
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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I don't think it's the investment aspect that's the problem.
Once you've reached retirement age and are drawing on the pension in sterling but living in Switzerland it's the exchange rate that is the major factor.
It's no longer a requirement to take a UK pension as an annuity, you can keep it invested & draw down what you want up to 100% of the fund. Cashing out 1.00% of the market value of the fund every 3 months will likely see your pension grow & a large fund left at the end of the day. Take more if you want but then your risk increases.
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  #29  
Old 07.10.2016, 14:13
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

More details here I love the comments on this site.

"Some cheaper single malts from Scotland is what I'm looking forward to."

http://www.zerohedge.com/news/2016-1...nd-flash-crash
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  #30  
Old 07.10.2016, 14:13
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

In IT in 1999 day rates were CHF 1200 for anyone with a pulse, many of those people would dream of CHF 600 today. The rate in GBP of course has not changed very much.
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  #31  
Old 07.10.2016, 14:16
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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In IT in 1999 day rates were CHF 1200 for anyone with a pulse, many of those people would dream of CHF 600 today. The rate in GBP of course has not changed very much.
That was bubble time. What were their rates five years later?
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  #32  
Old 07.10.2016, 14:18
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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It's no longer a requirement to take a UK pension as an annuity, you can keep it invested & draw down what you want up to 100% of the fund. Cashing out 1.00% of the market value of the fund every 3 months will likely see your pension grow & a large fund left at the end of the day. Take more if you want but then your risk increases.
It doesn't affect us as the only uk pension we have is the state one but it is a consideration for other people.
Too late for people like Odile and the others who are already drawing an annuity unfortunately.
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  #33  
Old 07.10.2016, 14:24
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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That was bubble time. What were their rates five years later?

Salaries are based on supply & demand, with globalisation salaries will revert to the mean, that applies to CH as well.
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  #34  
Old 07.10.2016, 14:52
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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I guess the biggest losers right now are the UK-based savers and house owners...
Not necessarily re houses. Variable mortgage rates have decreased so repayments have gone down.

Interest rates for savings have long been shite in the UK.

Blueangel, I know what you mean. Recent work in our UK was A little "cheaper" as a consequence.
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  #35  
Old 07.10.2016, 14:55
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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I just noticed today that 1 CHF = 0.82 GBP... that's insane.

Time for some online shopping methinks.

EDIT - Some more info here https://www.poundsterlinglive.com/gb...vices-pmi-3435
oh, i was in london yesterday and had some time for shopping...but was not aware of this...next time i'll inform myself better before travelling
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  #36  
Old 07.10.2016, 15:00
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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Salaries are based on supply & demand, with globalisation salaries will revert to the mean, that applies to CH as well.
You can "prove" a lot of things by cherrypicking some extreme situation. Doesn't make it a good comparison though.
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  #37  
Old 07.10.2016, 15:07
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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Salaries are based on supply & demand, with globalisation salaries will revert to the mean, that applies to CH as well.
So why are there still people working in Switzerland? All services and skills are cheaper in 3rd world countries... I have seen loads of companies outsourcing jobs to low cost countries, then fail, then move them back in, then do the same over again... btw not only here, but anywhere. It takes more than the baseline hourly rate to be competitive...
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  #38  
Old 07.10.2016, 15:31
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

My employer is in the process of shedding 360 IT jobs in high cost locations (guess where) but creating 300 positions in low cost locations.
Last year the did the same but on a smaller scale.
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  #39  
Old 07.10.2016, 16:01
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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That was bubble time. What were their rates five years later?
It depends so much on sector. I didn't really notice any pressure on rates until the last 2-3 years.
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  #40  
Old 07.10.2016, 17:00
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Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

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My employer is in the process of shedding 360 IT jobs in high cost locations (guess where) but creating 300 positions in low cost locations.
Last year the did the same but on a smaller scale.
I am making a living by working for a company here locally that helps doing stuff right and fast whenever the new low cost IT in India screwed up. I do not see low cost countries as a competition or threat, digitalization is since the stuff is simply getting smarter and there is less work to do in order to achieve the same result.
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