| Jon Walters today 12:10 - Feb 23 with 535 views | NotLoyal |
Wants to be PFA boss, he met Simon Jordan today in talk sport, although Walters came across ok, he just couldn't deal with Jordan and his questions, failed to answer some appropriately. The PFA is the only union which is entirely funded from outside its membership bar token payments by players, and I mean token. |  |
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| Jon Walters today on 17:41 - Feb 23 with 431 views | ReslovenSwan1 |
I have done a little research to keep the readership of this spendid portal fully informed on the basic facts and data on the PFA.
The data is taken from a press report in 2018.
The income was £27.7m. £26.6m of this money comes from the Premier league's TV deal. There was talk of a strike by players in 2001 to secure this very generous contribution. The PFA is a registered charity with tax benefits that goes with it. Gordon Taylor is paid a whopping 8% of that income £2.25m pa and is the highest paid Union official in the UK. Some consider his pay to be outrageous for a charity.
Taylor's number 2 is Nick Cusak the first and least sucessfull manager of the Jenkins revolution.
Players pay £150 to join the union. It now involves woman players.
The PFA give some protection to feckless footbllers by paying for them £5250 per anum into a pension funds run by PFA Trustees. A player who plays for 15 years carreer can be expected to get a fund around £400,000 at the age of 55 based on decent investment performance. Players cannot access it until the age of 50. This will cost the PFA around £10m per annum to fund. It comes with tax benefits to the players paid by HM Government.
The PFA held £50m in the bank recently and have been criticised for a lack of action on the links between footbll and dementia. [Post edited 23 Feb 2021 17:43]
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| Wise sage since Toshack era |
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| Jon Walters today on 18:27 - Feb 23 with 400 views | KeithHaynes |
| Jon Walters today on 17:41 - Feb 23 by ReslovenSwan1 |
I have done a little research to keep the readership of this spendid portal fully informed on the basic facts and data on the PFA.
The data is taken from a press report in 2018.
The income was £27.7m. £26.6m of this money comes from the Premier league's TV deal. There was talk of a strike by players in 2001 to secure this very generous contribution. The PFA is a registered charity with tax benefits that goes with it. Gordon Taylor is paid a whopping 8% of that income £2.25m pa and is the highest paid Union official in the UK. Some consider his pay to be outrageous for a charity.
Taylor's number 2 is Nick Cusak the first and least sucessfull manager of the Jenkins revolution.
Players pay £150 to join the union. It now involves woman players.
The PFA give some protection to feckless footbllers by paying for them £5250 per anum into a pension funds run by PFA Trustees. A player who plays for 15 years carreer can be expected to get a fund around £400,000 at the age of 55 based on decent investment performance. Players cannot access it until the age of 50. This will cost the PFA around £10m per annum to fund. It comes with tax benefits to the players paid by HM Government.
The PFA held £50m in the bank recently and have been criticised for a lack of action on the links between footbll and dementia. [Post edited 23 Feb 2021 17:43]
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Is the retirement age 35 irrespective of if they are still playing ? |  |
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| Jon Walters today on 19:05 - Feb 23 with 391 views | ReslovenSwan1 |
| Jon Walters today on 18:27 - Feb 23 by KeithHaynes |
Is the retirement age 35 irrespective of if they are still playing ? |
Pensions according to UK law can only start paying at 50 and is taxable*. Obviously given many footballers general lack of financial nous this is a good idea as they cannot cash it in a 35 and dash off for a jolly afternoon at Kempton Park. Its is hoped by 50 they will have developed some form of judgement and restraint. A Volvo rather than a Ferrari.
Because it is taxable it become tax efficient to spread the payment over a number of years to avoid income tax at 40% and use your tax free allowance per year. Obviously if the player cashes the lot a 50 and spends it on wine, women and song he will be liable for a large tax bill which occurs quite often with the bankruptcy of footballers not being uncommon.
* I am not a finance professional. Just giving background information.
Somebody like David James for zample declared bankrupt in his mid 40s will probably be able to pick up a modest salary of about £30,000 pa now he is 50 to fall back on. [Post edited 23 Feb 2021 19:19]
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| Wise sage since Toshack era |
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| Jon Walters today on 19:14 - Feb 23 with 382 views | KeithHaynes |
| Jon Walters today on 19:05 - Feb 23 by ReslovenSwan1 |
Pensions according to UK law can only start paying at 50 and is taxable*. Obviously given many footballers general lack of financial nous this is a good idea as they cannot cash it in a 35 and dash off for a jolly afternoon at Kempton Park. Its is hoped by 50 they will have developed some form of judgement and restraint. A Volvo rather than a Ferrari.
Because it is taxable it become tax efficient to spread the payment over a number of years to avoid income tax at 40% and use your tax free allowance per year. Obviously if the player cashes the lot a 50 and spends it on wine, women and song he will be liable for a large tax bill which occurs quite often with the bankruptcy of footballers not being uncommon.
* I am not a finance professional. Just giving background information.
Somebody like David James for zample declared bankrupt in his mid 40s will probably be able to pick up a modest salary of about £30,000 pa now he is 50 to fall back on. [Post edited 23 Feb 2021 19:19]
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The rules changed in 2006 by all accounts, up to April that year it was 35, it is now as you said 55 👠| |
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| Jon Walters today on 19:36 - Feb 23 with 355 views | ReslovenSwan1 |
| Jon Walters today on 19:14 - Feb 23 by KeithHaynes |
The rules changed in 2006 by all accounts, up to April that year it was 35, it is now as you said 55 👠|
Yes you are right it has increased from the 50 I rememnbered to 55 in line with increasing life expectancy.
David James will have to wait another 5 years it seems and will have to live on his Strictly Come Dancing fee until then. | |
| Wise sage since Toshack era |
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| Jon Walters today on 20:15 - Feb 23 with 343 views | NotLoyal |
| Jon Walters today on 19:14 - Feb 23 by KeithHaynes |
The rules changed in 2006 by all accounts, up to April that year it was 35, it is now as you said 55 👠|
Your onions are well remembered. | |
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