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Pension or Property? Which one is best Now?
I am 46 years old and have a lump sum of £ 70 000 to invest. I have an existing mortgage (2,89% 10yr fixed rate), owing £ 180 000 on a property in London , am self employed, turnover +/- £ 75 000-£ 100 000 p/a. I don't have a pension. Would it be better to buy a second property in London (using £ 70 000 as a deposit) or…
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£47K Pension Pot - Flexible Income D/down?
hi - my private pension matured about 2 months ago & i have a pot of £47k. after working 43 years i've had to retire due to ill health & receive about £109 esa- it's presently my only income. after researching the mine-field of info i think that a fexible income drawdown "might" suit me. i would take the 25% cash free & an…
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Final Salary pension, capped
I joined a Final salary pension scheme just over 10 years ago, sounded great. however 7ish years ago it was capped in how much it could increase by. My own naivety I didn't understand what was happening and the company simple said go seek IFA on the letter it sent out at the time, however my colleagues at the time (all…
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Mis sold pension advice
Hi there, does anyone know where I can check if pension advice I received some time ago was incorrect, something perhaps similar to PPI investigations? Linda E
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Re pension vs new house/mortgae
Hi We are in a bit of a dilemma. We are both around the age of 50 and have recieved a lump sum of £100,000. We are mortgage free but have the opportunity to buy a new dream house. We are unsure if it is wise to use the lump sum to buy the house - this would mean we have my pension ( teachers pension ) and what ever the…
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Guaranteed annuity income provision.
I'm familiar with guaranteed annuity rates (GARs), but this is a new one to me. In a letter in this morning's Ask Jessica column in the Tel, someone is moaning about the return projected for his £10 p.m. pension contribution, started in the early eighties. She's discovered that if he hangs on until age 70 and takes his…
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40something emigrating pension issue
Dear All, I am a 40ish person who emigrated to the EU some two years plus ago. I have my own business and France, house etc, and no plans to ever return. I do have a sizeable private pension pot C. 200k in the UK and tried in vain before I left the UK to release it. Is there anything I can do to release this money? Will…
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Multiple pensions - what to do?
My husband has two pensions both of them are defined contribution schemes. One has a pot of £15k and is currently not being added to. He has another pot of £25k which he is still contributing too along with his employer. So presumably he could transfer the £15k pot into the pension he is still contributing to to make a…
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Help a first timer fill out the pension section of her Self Assessment please
Thanks to encouragement from this forum, I opened a SIPP a few months ago to save on top of my DB from employment. I will be doing my first SA this year and before I begin I would like some help, as I'm looking at the SA100 form and the explanatory SA150 for the first time and would appreciate some assistance from those…
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Pensions are so complicated no one understands them!
Andy Haldane admitted this week that pensions were so complicated that even he could not make "the remotest sense" of them. He has discussed pensions with countless experts and IFAs and has confirmed only one thing - that they have no clue either. Now this makes me think why does anyone pay for pension advice when no one…
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With Profits?
I am 58 years old and can access both my occupational pension and my AVCs pension at 60. I’ve decided to invest quite heavily into my AVCs pension in the next two years and will pay around £800 net which will equate to £1000 gross each month. I will be living off savings and freelance work for the next two years. The…
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Annual fund charges/number of funds - is it me who doesn't understand?
During a conversation with my pension provider this afternoon: "Well, obviously Plan A has higher charges than Plan B because you have ten funds in Plan A and only one in Plan B, so of course it's going to cost more." This sounds like nonsense to me. Surely 1 x £1000 x 1% is the same as 10 x £100 x 1%? Is there something…
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Pension or not for the self-employed?
Hello, I am self-employed and a basic rate payer. My husband works full time and has a workplace pension. We are two months away to becoming debt free and are looking into our saving and investment options. I don't know if it would be best for me to start a pension fund or just save and invest the money. I know that the…
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Set-up Pension or Save for a Mortgage
Hi All, I'm in my mid-20's and i'm starting to think about the future much more seriously, specifically whether to save up for a mortgage or set up a pension. I operate as a contractor through my limited company so I've currently not had a pension set up for me by an employer. I plan to put away £150 per week which equates…
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withdrawal rates?
Can anyone clarify the criteria for the so-called safe withdrawal rates for pensions or investment portfolios in the draw-down phase? There was the traditional US based 4% rule, and looking to the future some suggest closer to 3%. Anyway whatever the figure, is the criteria of 'success' that over the 30, 40 or whatever…
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Drawdown: safe withdrawal rates
This is a collection of posts that I think are useful for those planning drawdown, suggesting a base plan and references to help you to adjust as you wish. To get started you should: 1. Use Guyton and Klinger's decision rules 2. Use Guyton's sequence of return risk taming (adds about 1% of pot size to withdrawal rate) 3.…
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LGPS waiting for payment
I finished working for the council on 5/4/16 but have not yet received any pension payment. I have been told I am due 85k tax free lump sum and will get nearly 2 months pension on the last working day of this month. I was assured that I would get the lump sum on 18/5, but on chasing this on that date was then told it would…
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Death
“The 2015 version of the Continuous Mortality Investigation model (CMI2015) produces life expectancies that are lower than the 2014 version.“ - The Pensions Regulator May 2016 It wasn't long ago that people were telling me on this very forum that a reduction in life expectancy was utterly out of the question. I'm afraid…
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Gmp/cope.
My on-line state pension forecast shows a COPE amount of £76 p/w. Would I be right in presuming that this would be my GMP (approx), payable at 65 with my Defined benefit pension?
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Bank of England Chief Economist: Nobody understands pensions, including me
Bank of England Chief Economist: Nobody understands pensions, including me http://www.telegraph.co.uk/business/2016/05/18/bank-of-england-chief-economist-nobody-understands-pensions-incl/?WT.mc_id=e_DM120210&WT.tsrc=email&etype=Edi_Pol_New_EU&utm_source=email&utm_medium=Edi_Pol_New_EU_2016_05_19&utm_campaign=DM120210
