Calvin Ramsay

[davieb]

1 hour ago, sheepcrooky said:

Will. It. Fuck. 
 

Tax management will ensure it does not. Professional sports people can put up to 25% of their earnings tax free into pension schemes. This along with other tax efficient schemes mean he would probably be paying 25% of his wages in tax at the absolute most. 

40k is the max you can put tax free into a pension per year not 25% of their salary! 😂

[The Gee Man]

1 hour ago, davieb said:

40k is the max you can put tax free into a pension per year not 25% of their salary! 😂

Wee EBT can sort that

[Mr John]

Thank CHRIST we have experts on here.

Just imagine the bullshit if we didn't.

[davieb]

33 minutes ago, The Gee Man said:

Wee EBT can sort that

Ah yes, the good old EBT, that'll work! 😂

[RUL]

He’s on substantial wages at Liverpool, he’s not going to struggle the rest of his life 😂

[TheRedPrawcess]

Who gives a fuck?

[Guest findlay_1903]

43 minutes ago, Mr John said:

Thank CHRIST we have experts on here.

Just imagine the bullshit if we didn't.

👏🏻

[sooth_stander]

15 hours ago, muttonhumper said:

 

All correct.

The haverings and pish relentlessly repeated on this issue on "set for life" when even on the likes of Wright going to Ibrox are hilarious.

Does my fucking head in, glad you have addressed it.

If he’s got even half a brain cell in his body, which he appears to do, invests his dough in property and/or stocks and shares, he could see out his contract at Liverpool, never kick a ball again and still live happily ever after. 

Not sure what is difficult to grasp with that.

We see ex 80s AFC players, Gothenburg heroes at that, still working full time at age 60 but Ramsay is on a different stratosphere, financially speaking 

[muttonhumper]

6 hours ago, sooth_stander said:

If he’s got even half a brain cell in his body, which he appears to do, invests his dough in property and/or stocks and shares, he could see out his contract at Liverpool, never kick a ball again and still live happily ever after. 

Not sure what is difficult to grasp with that.

We see ex 80s AFC players, Gothenburg heroes at that, still working full time at age 60 but Ramsay is on a different stratosphere, financially speaking 

Lots of ifs and buts and rather unlikelys in there.

Have you seen what the young players of today indulge their cash in?

What's his wage then? And how long is his contract?

 

I was more talking about the likes of players who move within Scotland to the arse cheeks.

Which I know for an absolute fact is nowhere near "set for life" or "life changing" money.

Some folks are extremely naive to the ways of the world.

[sheepcrooky]

11 hours ago, davieb said:

40k is the max you can put tax free into a pension per year not 25% of their salary! 😂

You are correct, the rules for sports people used to be different. In fact, the £40k is the maximum of employer and employee contributions. As the PFA put in £6,500 for every player, he can only put in £33,500 tax free. 
 

Anyway, I doubt he gives a fuck. 

[redone]

23 minutes ago, sheepcrooky said:

You are correct, the rules for sports people used to be different. In fact, the £40k is the maximum of employer and employee contributions. As the PFA put in £6,500 for every player, he can only put in £33,500 tax free. 
 

Anyway, I doubt he gives a fuck. 

Phew !... I'll sleep a bit easier tonight now.  Thanks min !

[patrick bateman]

On 2/14/2023 at 11:23 AM, aberdeen1970 said:

He's had a couple of appearances off the bench and got good reviews.  He's played mainly for their under 23 as expected. 

Folk slate Arnold but he's a top class attacking right back and was never going to be easy to displace this season.  England just happen to have heaps of good attacking right backs. 

They have been playing James milner at rb quite a bit of late, fair to assume a fit Ramsay might well have had an opportunity.

[patrick bateman]

On 2/16/2023 at 11:25 PM, elephantstone78 said:

Will he?

you know that nearly half his wage disappears before it reaches his bank account?

And, when he retires he will probably have another 50 or so years ahead of him.

Or are you thinking he’s going to pop his clogs at about 40?

Football players pensions are an exemption from normal rules fyi.

So you know if he makes circa 10m over the rest of his career (say 15 years) and that's a low estimate based on salaries in the English leagues, wage inflation in that environment etc.

Barring injury derailing/ ending his career.

The boy Lawrence that the Huns signed was on 30k+ at Derby reportedly.

So I think he'll be fine.

 

 

[davieb]

1 hour ago, patrick bateman said:

Football players pensions are an exemption from normal rules fyi.

So you know if he makes circa 10m over the rest of his career (say 15 years) and that's a low estimate based on salaries in the English leagues, wage inflation in that environment etc.

Barring injury derailing/ ending his career.

The boy Lawrence that the Huns signed was on 30k+ at Derby reportedly.

So I think he'll be fine.

 

 

They aren't, we've already had that discussion. Everyone has the same pension allowance and retirement rules

[aberdeen1970]

There's no way Calvin's current contract at Liverpool will provide him with enough cash to live comfortably for the rest of his life, assuming he wants to live to a ripe old age. 

It provides him with a springboard to set himself up for life though so all depends on how things work out over the next few years. 

[Joe pike]

15 hours ago, TheRedPrawcess said:

Who gives a fuck?

Obviously you.

[patrick bateman]

1 hour ago, davieb said:

They aren't, we've already had that discussion. Everyone has the same pension allowance and retirement rules

Prescribed professions.

Doesn't impact allowances,which I didn't mention.

 

[elephantstone78]

18 hours ago, davieb said:

40k is the max you can put tax free into a pension per year not 25% of their salary! 😂

There are a minuscule amount of topics that can be regarded as being in my wheelhouse but this is one of them. 
 

You are almost correct, certainly closer than most others on here but high earners (those earning above £240k) don’t get £40k. They lose £1k of annual allowance for every £2k of income above £240k so it’s likely young Calvin will only be able to put £4K annually into a pension without a tax charge. 
 

And, it’s locked away to 57, the rules changed years ago precluding sports people from getting it at 35. 

[davieb]

1 hour ago, patrick bateman said:

Prescribed professions.

Doesn't impact allowances,which I didn't mention.

 

There is no such rule in place, those were for schemes setup before 2006. Also, if it didn't affect contributions, then the 40k annual limit and 1 million lifetime allowances still apply. So "Football players pensions are an exemption from normal rules fyi."  is nonsense.

"Before 6 April 2006 some members of personal pension schemes or RACs had the right to take benefits before age 50. These were mainly sports persons and individuals in hazardous occupations, who had a normal retirement age below 50 approved by HMRC. For these members to protect their right to an early pension age, all the following conditions must be met:" 

https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm062220

"Prior to April 5^th 2006 (A Day) professional footballers were allowed to take their pension benefits at the age of 35.¹ This was ideal for footballers as they would often need the funds built within their pension when the income from football declined. However, the retirement age is now 55 and it can be an awfully long way away for a young man of under the age of 25."

https://www.lawinsport.com/blogs/mills-reeve/item/planning-for-retirement-the-financial-life-cycle-of-a-professional-footballer

[davieb]

4 minutes ago, elephantstone78 said:

There are a minuscule amount of topics that can be regarded as being in my wheelhouse but this is one of them. 
 

You are almost correct, certainly closer than most others on here but high earners (those earning above £240k) don’t get £40k. They lose £1k of annual allowance for every £2k of income above £240k so it’s likely young Calvin will only be able to put £4K annually into a pension without a tax charge. 
 

And, it’s locked away to 57, the rules changed years ago precluding sports people from getting it at 35. 

Good to know, glad I know, glad I kept my salary under 240k! I forgot that it's going up to 57, in a couple of years, I'll be taking mine just in time!

[TheRedPrawcess]

2 hours ago, Joe pike said:

Obviously you.

No. All the best to the lad and what not but I absolutely could not care what his current salary, contract length, bonuses etc. are. I'm not sure why I would care about any of that?

[patrick bateman]

On 2/18/2023 at 3:18 PM, davieb said:

There is no such rule in place, those were for schemes setup before 2006. Also, if it didn't affect contributions, then the 40k annual limit and 1 million lifetime allowances still apply. So "Football players pensions are an exemption from normal rules fyi."  is nonsense.

"Before 6 April 2006 some members of personal pension schemes or RACs had the right to take benefits before age 50. These were mainly sports persons and individuals in hazardous occupations, who had a normal retirement age below 50 approved by HMRC. For these members to protect their right to an early pension age, all the following conditions must be met:" 

https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm062220

"Prior to April 5^th 2006 (A Day) professional footballers were allowed to take their pension benefits at the age of 35.¹ This was ideal for footballers as they would often need the funds built within their pension when the income from football declined. However, the retirement age is now 55 and it can be an awfully long way away for a young man of under the age of 25."

https://www.lawinsport.com/blogs/mills-reeve/item/planning-for-retirement-the-financial-life-cycle-of-a-professional-footballer

I'll bow to your greater knowledge I did my pension exams pre 06 cos I'm old.

[muttonhumper]

Excellent to see this "set for life" drivel called out.

Good work.

[Parklife]

Arguing about how much money Calvin Ramsay has. 

Why would anyone give a fuck? 😂

[Dandie1992]

Didn't expect to get free CII R04 exam revision when I clicked on this thread. 

[dazzy_deff]

On 2/18/2023 at 12:16 PM, aberdeen1970 said:

There's no way Calvin's current contract at Liverpool will provide him with enough cash to live comfortably for the rest of his life, assuming he wants to live to a ripe old age. 

It provides him with a springboard to set himself up for life though so all depends on how things work out over the next few years. 

It most certainly will.

[Sheeptastic]

I know he's had his injury issues but looks like Calvin Ramsay has only had two appearances while out on loan at Preston.

Would you take him back on loan? Don't think he'd get in ahead of Devlin but could still be a useful option. 

[Dynamo]

He's only had two appearances because he's been injured. 

Shame for the lad, hope he can overcome them.

[Ramandu]

If he's good enough for Griezmann, he's good enough for Preston.

[slippers]

1 hour ago, Dynamo said:

He's only had two appearances because he's been injured. 

Shame for the lad, hope he can overcome them.

He’s just back and started 2 games. Now he’s out with covid. Thinks he’s back available again though. Shame as the kid was going straight to the top. This past 1 or 2 seasons must of took its toll on his development as he should of been playing semi regular for Liverpool by now he’s that good.