Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #21  
Old 07.10.2016, 12:17
Belgianmum's Avatar
Forum Legend
 
Join Date: Jan 2010
Location: Neuchâtel
Posts: 13,056
Groaned at 228 Times in 192 Posts
Thanked 21,561 Times in 8,834 Posts
Belgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
The following 11 users would like to thank Belgianmum for this useful post:
  #22  
Old 07.10.2016, 13:08
Forum Veteran
 
Join Date: Mar 2014
Location: Neuchatel
Posts: 768
Groaned at 3 Times in 3 Posts
Thanked 351 Times in 216 Posts
Enohzee has an excellent reputationEnohzee has an excellent reputationEnohzee has an excellent reputationEnohzee has an excellent reputation
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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
Reply With Quote
This user would like to thank Enohzee for this useful post:
  #23  
Old 07.10.2016, 13:21
Blueangel's Avatar
Forum Legend
 
Join Date: Nov 2015
Location: Küsnacht, Switzerland
Posts: 4,020
Groaned at 116 Times in 103 Posts
Thanked 10,790 Times in 4,748 Posts
Blueangel has a reputation beyond reputeBlueangel has a reputation beyond reputeBlueangel has a reputation beyond reputeBlueangel has a reputation beyond reputeBlueangel has a reputation beyond reputeBlueangel has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
The following 4 users would like to thank Blueangel for this useful post:
  #24  
Old 07.10.2016, 13:26
magyir's Avatar
Forum Veteran
 
Join Date: Oct 2006
Location: Wallisellen
Posts: 1,627
Groaned at 7 Times in 7 Posts
Thanked 501 Times in 346 Posts
magyir has a reputation beyond reputemagyir has a reputation beyond reputemagyir has a reputation beyond reputemagyir has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
This user would like to thank magyir for this useful post:
  #25  
Old 07.10.2016, 13:38
Banned
 
Join Date: Feb 2014
Location: The World
Posts: 1,380
Groaned at 282 Times in 153 Posts
Thanked 1,115 Times in 636 Posts
Capo is considered unworthyCapo is considered unworthyCapo is considered unworthyCapo is considered unworthy
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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
Reply With Quote
  #26  
Old 07.10.2016, 13:47
Guest
 
Posts: n/a
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
  #27  
Old 07.10.2016, 14:02
marton's Avatar
Forum Legend
 
Join Date: May 2008
Location: Kt. Zürich
Posts: 10,596
Groaned at 473 Times in 406 Posts
Thanked 19,425 Times in 10,255 Posts
marton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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
Reply With Quote
This user would like to thank marton for this useful post:
  #28  
Old 07.10.2016, 14:11
fatmanfilms's Avatar
The Marmite Moderator
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,019
Groaned at 450 Times in 344 Posts
Thanked 22,320 Times in 11,548 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
  #29  
Old 07.10.2016, 14:13
Cata1yst's Avatar
Forum Veteran
 
Join Date: Feb 2012
Location: Zugish
Posts: 565
Groaned at 18 Times in 10 Posts
Thanked 726 Times in 330 Posts
Cata1yst has a reputation beyond reputeCata1yst has a reputation beyond reputeCata1yst has a reputation beyond reputeCata1yst has a reputation beyond repute
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
Reply With Quote
  #30  
Old 07.10.2016, 14:13
fatmanfilms's Avatar
The Marmite Moderator
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,019
Groaned at 450 Times in 344 Posts
Thanked 22,320 Times in 11,548 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
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.
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #31  
Old 07.10.2016, 14:16
Forum Legend
 
Join Date: Oct 2014
Location: SG
Posts: 8,970
Groaned at 472 Times in 353 Posts
Thanked 11,934 Times in 6,206 Posts
Urs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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?
Reply With Quote
  #32  
Old 07.10.2016, 14:18
Belgianmum's Avatar
Forum Legend
 
Join Date: Jan 2010
Location: Neuchâtel
Posts: 13,056
Groaned at 228 Times in 192 Posts
Thanked 21,561 Times in 8,834 Posts
Belgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond reputeBelgianmum has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
This user would like to thank Belgianmum for this useful post:
  #33  
Old 07.10.2016, 14:24
fatmanfilms's Avatar
The Marmite Moderator
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,019
Groaned at 450 Times in 344 Posts
Thanked 22,320 Times in 11,548 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
  #34  
Old 07.10.2016, 14:52
Guest
 
Posts: n/a
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post


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.
Reply With Quote
This user would like to thank for this useful post:
  #35  
Old 07.10.2016, 14:55
Junior Member
 
Join Date: Oct 2012
Location: Zurich
Posts: 91
Groaned at 5 Times in 2 Posts
Thanked 27 Times in 11 Posts
volver has made some interesting contributions
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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
Reply With Quote
  #36  
Old 07.10.2016, 15:00
Forum Legend
 
Join Date: Oct 2014
Location: SG
Posts: 8,970
Groaned at 472 Times in 353 Posts
Thanked 11,934 Times in 6,206 Posts
Urs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
  #37  
Old 07.10.2016, 15:07
Treverus's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: Work in ZH, live in SZ
Posts: 11,999
Groaned at 334 Times in 273 Posts
Thanked 22,926 Times in 8,297 Posts
Treverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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...
Reply With Quote
This user would like to thank Treverus for this useful post:
  #38  
Old 07.10.2016, 15:31
Banned
 
Join Date: Jun 2013
Location: North
Posts: 996
Groaned at 38 Times in 23 Posts
Thanked 1,351 Times in 624 Posts
Fish Paste has a reputation beyond reputeFish Paste has a reputation beyond reputeFish Paste has a reputation beyond reputeFish Paste has a reputation beyond repute
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.
Reply With Quote
  #39  
Old 07.10.2016, 16:01
NotAllThere's Avatar
Forum Legend
 
Join Date: Oct 2008
Location: Baselland
Posts: 13,265
Groaned at 216 Times in 191 Posts
Thanked 19,345 Times in 7,875 Posts
NotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond reputeNotAllThere has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
  #40  
Old 07.10.2016, 17:00
Treverus's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: Work in ZH, live in SZ
Posts: 11,999
Groaned at 334 Times in 273 Posts
Thanked 22,926 Times in 8,297 Posts
Treverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond repute
Re: Wow, CHF to GBP exchange rate is pretty crazy at the moment...

Quote:
View Post
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.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sterling to CHF Exchange Rate Deep Purple Finance/banking/taxation 258 25.02.2016 00:51
Fixing my CHF-GBP exchange rate Enohzee Finance/banking/taxation 10 21.01.2016 21:10
Rip-off CHF/EUR exchange rate at UBS fabio Finance/banking/taxation 19 09.04.2010 17:21
Exchange to euros: is now the best moment? espinchi Finance/banking/taxation 15 29.10.2008 20:00
Exchange rate CHF - EUR: where is the best rate in Basel? jttraveller Finance/banking/taxation 3 02.07.2008 11:47


All times are GMT +2. The time now is 10:19.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0