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Pensions Worth 30% Less Than Three Years Ago
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I do feel quite sorry for our older posters
Why ?
They've probably already bought their annuity.
It's the younger posters who should be worried :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Will we see more people buying B2L property as an alternative pension arrangement ?
I can't see why not.
I believe this option was quickly closed out by the taxman when they excluded residential property from SIPP's. I am not fully up to date on the details but I know there was a lot of interest in it at the time and a lot of disappointment when it was changed.
The normal BTL route does not give the same advantages and tax relief as a pension.0 -
I believe this option was quickly closed out by the taxman when they excluded residential property from SIPP's. I am not fully up to date on the details but I know there was a lot of interest in it at the time and a lot of disappointment when it was changed.
The normal BTL route does not give the same advantages and tax relief as a pension.
But BtL could be useful to top up a pension.0 -
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I believe this option was quickly closed out by the taxman when they excluded residential property from SIPP's. I am not fully up to date on the details but I know there was a lot of interest in it at the time and a lot of disappointment when it was changed.
The normal BTL route does not give the same advantages and tax relief as a pension.
I remember the backtracking on schedule A, when they excluded things like property.
The tax relief is the biggest loss. But is this that big a deal for a basic rate taxpayer? The highest rate taxpayers get £1 for £1 tax relief on pension investment, which is a pretty good deal. A basic rate taxpayer has to put in £3 to get 80p tax relief.
The other thing with a BTL property is you can (potentially) dispose of it and release the equity if life events mean you need access to the funds. Pension funds are comparitively inflexible.
Tricky one indeed.0 -
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JonnyBravo wrote: »And I'm glad I've got a private sector final salary pension.
We can all be smug together til they're taken away. :cool:
Nice one Jonny :beer:0 -
Makes you think when you hear about all the public sector workers talking about going on strike about changes to their pensions.
We have never striked over anything.
Infact we are unique where our orgasnisation is not strictly in the public sector as we are 100% self-funding but report to the Government.0
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