The speaker at last Wednesday’s lunchtime meeting was club member Angus MacKintosh who gave a talk entitled “Pensions-evolution or revolution”.
As Angus is a Financial Planner by profession, he was well placed to be able to give this very informative talk. It appears that pensions date back to Roman times as the centurions received an annuity when they stopped work. The formalization of pension arrangements came in the late 19th century with two of the first recorded pension schemes in 1894 and 1899 from WH Smith and Coleman’s.
State pensions date from 1908 when you received the princely sum of five shillings a week at age 70. Given that the average age expectancy for males in 1908 was 50, not many lived to receive their pension. Angus went to speak about developments in more recent times with the development of private pension savings schemes and the most recent changes, which introduced more flexibility enabling people who have money purchase pension savings to access their pension at age 55.
Angus dispelled the concerns that this would lead to an increase in the purchase of top end of the range cars like Lamborghinis as people cashed in the whole amount as this incurs tax being paid on three quarters of the sum and with the average pension pot being around £23,000 after tax, buying a Fiesta might be a more affordable option! Vote of thanks was by Jim Henderson.
Stonehaven Rotary Club ran two neighbouring stalls at last week’s Fee’in market. There was the customary Bottle stall and there was also the chance to purchase tickets to win a mini in the annual Rotary District Car Raffle. We survived a very blustery day in the Square but nonetheless it was enjoyable and successful.
Thanks to the generosity of club members through their donations of bottles for the stall, we had enough bottles to keep the stall alive and we were forced to call it a day after the 4 o’clock deadline! And of course thanks to the generosity of all those who braved the high winds and visited the Fee’in market and our two stalls, the car ticket sales raised £940 and the bottle stall £1271. If you missed the opportunity to buy a ticket for the car raffle last Saturday, look out for us - and the car - at the Harbour Festival on Sunday August 30.
This Wednesday, there was no lunchtime meeting of the club as a large number of members were at SRUC Craibstone to help 600 children with additional support needs and their teachers from 33 primary schools throughout Aberdeen and parts of Aberdeenshire who had been transported there for Rotary KidsOut Aberdeen. The day out is organised and financially supported by 17 Rotary Clubs with help from Inner Wheel members based in City and Shire and various local Trusts.
During the day the children were introduced to new tasks such as riding a horse overseen by helpers from Riding for the Disabled, climbing a wall tower, walking on a rope bridge and jumping on bouncy castles and getting their faces painted and also enjoying pony and trap rides and diesel train rides around a small circuit. An afternoon disco completed the entertainment before boarding their buses and taxis for their trip back to school.