EK in trouble?
Mar 9th 2017, 5:34 am
#31
BE Forum Addict
Joined: Jul 2008
Location: Dubai
Posts: 2,843
Re: EK in trouble?
MISS ANN i like you - you articulate yourself so well.
Mar 9th 2017, 5:39 am
#32
...we killed the flame
Joined: Jan 2017
Location: Dubai
Posts: 1,086
Re: EK in trouble?
I need to get my arse in gear and articulate some work rather than wasting time on here!! And I have to articulate myself these days as nobody else is willing to articulate me...
Last edited by Miss Ann Thrope; Mar 9th 2017 at 5:42 am.
Mar 9th 2017, 5:44 am
#33
...we killed the flame
Joined: Jan 2017
Location: Dubai
Posts: 1,086
Re: EK in trouble?
Another interesting and equally scary take:
https://www.theguardian.com/technolo...us-up-disaster
The automation paradox: relying on machines reduces our basic skills because they don't routinely get used but when something goes wrong, necessitating human intervention, it is going to be something very extreme or unusual requiring a highly skilled response.....oops!
https://www.theguardian.com/technolo...us-up-disaster
The automation paradox: relying on machines reduces our basic skills because they don't routinely get used but when something goes wrong, necessitating human intervention, it is going to be something very extreme or unusual requiring a highly skilled response.....oops!
Mar 9th 2017, 5:53 am
#34
Knee deep and rising
Joined: Sep 2011
Posts: 3,007
Re: EK in trouble?
OK, i found the article. I haven't read back through it but, as I recall, the point was that the older pilot had learned his trade on equipment which required a more instinctive understanding and reading of the conditions outside, especially at night. The younger pilot had only ever worked on planes which were highly automated and thus hadn't developed instincts which allowed him to correctly interpret what was happening especially when the equipment was giving false readings. Therefore he exactly made the wrong calls on how to react.
Last edited by weasel decentral; Mar 9th 2017 at 6:09 am.
Mar 9th 2017, 6:16 am
#37
...we killed the flame
Joined: Jan 2017
Location: Dubai
Posts: 1,086
Re: EK in trouble?
And because equipment is so heavily automated these days, more and more operators will be less experienced and less capable of making good judgements when those extreme situations occur which require their intervention...
Mar 9th 2017, 10:39 am
#38
BE Forum Addict
Joined: Oct 2015
Location: Abu Dhabi via Barcelona
Posts: 1,478
Re: EK in trouble?
Remember, not only did you and I contribute to our Pension, our employer did, too. It totalled 15% of your income before taxes.
If you averaged only £15 000 over your working life, that's close to £220,500. Read that again. Did you see anywhere that the Government paid in one single penny?
We are talking about the money you and your employer put in a Government bank to ensure that you and I would have a retirement pension from the money we put in, it was not money that the Government had any right to spend elsewhere.
Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.
If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the govt. pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.
If you took out only 3% per year, you'd receive £26,787.60 per year and it would last better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!
If you bought an annuity with the money and it paid 4% per year, you'd have a lifetime income of £1,976.40 per month.
If you averaged only £15 000 over your working life, that's close to £220,500. Read that again. Did you see anywhere that the Government paid in one single penny?
We are talking about the money you and your employer put in a Government bank to ensure that you and I would have a retirement pension from the money we put in, it was not money that the Government had any right to spend elsewhere.
Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.
If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the govt. pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.
If you took out only 3% per year, you'd receive £26,787.60 per year and it would last better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!
If you bought an annuity with the money and it paid 4% per year, you'd have a lifetime income of £1,976.40 per month.
Mar 9th 2017, 11:26 am
#39
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: EK in trouble?
Any NI payments made are not ring-fenced for an individual, it's a State arrangement so for everyone's benefit so you really can't do a calculation like that.
It's also overly simplistic and flawed. Not all NI payments go towards pensions. Some people pay in much less and are still entitled to receive a pension payment as it's an equitable system designed so that everyone receives an income in their later years as part of the overall welfare system.
People have been permitted to partially opt out (SERPS/S2P redirection) but that received criticism too and is far less beneficial than it was, partly as the monies redirected were, with hindsight, overoptimistic albeit many of us benefited from that.
The main point however, is that any payments to the State Pension have never been invested to the claim is essential pointless. Someone has woefully misunderstood the system.
Mar 9th 2017, 1:51 pm
#40
Knee deep and rising
Joined: Sep 2011
Posts: 3,007
Re: EK in trouble?
The situation wasn't extreme according to the article, just the pilot's reaction. I think you are suffering the same confirmation bias that the author laboured to create. From one incident I might add.
