| Pensions Advice 10:37 - Oct 3 with 9917 views | PlanetHonneywood |
When in doubt, go to Loftipedia!!
I've two UK work pensions that automatically trigger when I soon reach 60.
Now I can't seek advice and if any of you are an advisor then you'll know you can't advise me, as I am in the EU.
However, if anyone can let me know what are the perceived merits, or not, of taking the 25% tax free bit? They're both small pots and more cheery on top than key contributors to my future funding.
Cheers to whomever clarifies what YouTube has left me somewhat confused about. |  |
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| Pensions Advice on 14:23 - Oct 11 with 1703 views | DavieQPR |
I took the 25% because my pensions I receive now are taxed. Put in no risk accounts like ISA |  | | |
| Pensions Advice on 15:50 - Oct 11 with 1534 views | kensalriser |
| Pensions Advice on 14:17 - Oct 11 by stevec |
Between 1999 and 2002, chancellor Gordon Brown sold 395 tonnes of our nation’s gold for £2.6bn. This would today be worth £38bn.
And the media often turn to this bellend for advice on the economy. |
Bellends keep on going on about this as if it's some kind of gotcha when it's completely irrelevant today.
And if you're going to quote one side of the equation, what about the other? The proceeds went into other assets.
https://www.bbc.co.uk/news/business-48177767 |  |
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| Pensions Advice on 19:39 - Oct 11 with 1348 views | NorrisGreen |
Would you rather have £1000 in your hand now or £5 a month in your hand, index linked, for rest of your life?
This is broadly the question you need to ask yourself, it's quite straightforward to answer I reckon (I'm assuming that you will more or less spend the grand and not be re-investing it as there are tax rules about investing "tax free" money and then receiving additional tax-free money via say a ISA interest or additional pension contributions
Ir you were still struggling to choose I'd just ask if you were confident of living well beyond age 76 and how you intend to fund your daily living costs when you were 80. If you can provide a sensible response to those questions I'd regard you as being perfectly positioned to make your choice. |  | | |
| Pensions Advice on 22:00 - Oct 11 with 1242 views | stowmarketrange |
| Pensions Advice on 15:50 - Oct 11 by kensalriser |
Bellends keep on going on about this as if it's some kind of gotcha when it's completely irrelevant today.
And if you're going to quote one side of the equation, what about the other? The proceeds went into other assets.
https://www.bbc.co.uk/news/business-48177767 |
How much did Thatcher waste selling off all our national assets cheaply? |  | | |
| Pensions Advice on 11:44 - Oct 12 with 1056 views | NorrisGreen |
| Pensions Advice on 22:00 - Oct 11 by stowmarketrange |
How much did Thatcher waste selling off all our national assets cheaply? |
Yes. It's quite astonishing to compare what Norway did with their North Sea oil revenue to what our government did. We basically used it to fund useless short-term "sweetener" policies to buy votes/support at elections and Norway created a sovereign wealth fund to support growth and prosperity for generations to come. That fund is still massive and contributes to their economy on an ongoing basis. | | | |
| Pensions Advice on 13:25 - Oct 12 with 971 views | stowmarketrange |
| Pensions Advice on 11:44 - Oct 12 by NorrisGreen |
Yes. It's quite astonishing to compare what Norway did with their North Sea oil revenue to what our government did. We basically used it to fund useless short-term "sweetener" policies to buy votes/support at elections and Norway created a sovereign wealth fund to support growth and prosperity for generations to come. That fund is still massive and contributes to their economy on an ongoing basis. |
I heard that their state pension starts at £27k,and ours is a miserly £12k.I wonder who invested for the future instead of reducing taxes? | | | |
| Pensions Advice on 18:46 - Oct 12 with 833 views | Sonic_Hoop |
| Pensions Advice on 11:28 - Oct 3 by stowmarketrange |
From a personal point of view I’d say take the 25% lump sums and invest the money in something that will pay a decent amount of interest.I took my Royal Mail pension as soon as I hit 55 and have been earning interest for the last 10 years,which has got a lot better over the past 18 months or so.Maybe a 5 year fixed rate account will suit you if you don’t need the cash now.
Obviously it depends on your personal circumstances,but I much prefer to have the lump sums for me to decide what to do with rather than rely on whatever the pension companies gamble my money on.
Good luck on whatever you choose to do. |
I've looked at Reform's bill. If you do invest it, stick it anywhere but in Sterling. The currency, not the player. |  | | |
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