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Advice re Stakeholder Contributions after Pensions' A Day
KMK
Posts: 271 Forumite
My husband is within 2 years of retirement and as well as his teacher's pension, he also has a stakeholder into which he puts the current maximum. After A Day would there be any financial advantage in putting much larger sums into his stakeholder in the 2 years that are left?
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Comments
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Depends on what you are trying to achieve. The answer could be yes or it could be no.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Basically a higher pension return. Would the tax relief on increased contributions be a better deal than buying into ISAs etc.? Plus it is only for 2 years so perhaps no real long term accruement from increased contributions.0
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We discuss the pension vs ISA issue too often on here. A peek at recent threads may help get some background.
However, one thing is clear. Whilst ISAs offer flexibility on what to do with your money and the fact you keep it within the family on death, the pensions do provide the highest income for those in their 60s. If you are after capital though, the pension is not the best option.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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