Guardian bear Patrick Collinson - Pensions? BTL is perhaps the way to go

chewmylegoff

grizzly1911 wrote: »

What sort of wage would amass that size of pot of the "current" 40 years?

i expect most people could accrue a pension pot of £50k (adjusted for inflation) over 40 years. you wouldn't need to pay huge amounts in. the trouble is that most people don't contribute to a pension for 40 years, and don't start until they are in their mid 30s if i recall correctly.

grizzly1911 wrote: »

Offset to this is the more tax that will be paid as more of any pension becomes immediately taxable and the fact that council tax and housing benefit may double that base pension figure. I know that housing benefit of c.£6K is paid to a couple under present arrangements in a non affluent area of the country and council tax would be an additional c.£1200 pa.

Still better to earn £40pw extra than someone on basic state pension and be taxed at 20% than to earn £0pw and be taxed at 0%. (And if you take the income at the time instead of putting it into the pension you would have been taxed when you earned it anyway).

However, if you were to lose £40pw of housing benefit and then also be taxed on the £40pw of pension, that would be a pretty crappy outcome.

RenovationMan

Thrugelmir wrote: »

I suspect changes are planned. As this would appear to be the first steps in simplifying an administratively expensive bureaucratic system. With the net result of huge cost savings.

The logic I was using was that if everyone is on a flat state pension then either everyone is below a threshold and so everyone is entitled to pensions credit style benefits, or no one is below a threshold and so no one is entitled to pensions credit style benefits.

kabayiri

chewmylegoff wrote: »

i expect most people could accrue a pension pot of £50k (adjusted for inflation) over 40 years. you wouldn't need to pay huge amounts in. the trouble is that most people don't contribute to a pension for 40 years, and don't start until they are in their mid 30s if i recall correctly.
...

Can we predict job security for someone new to the labour market over the next 40 years?

I've seen massive changes to the sectors I have worked in over a period of a decade, never mind 4 times that duration.

Perhaps we should plan for greater disruption in our future working lives, and ensure our long term savings vehicles are more flexible.

Linda_D_2

Joeskeppi wrote: »

Worked out what the D is.

That's rich coming from the brain dead vegetable Joeskeppi

undetterred

Linda_D wrote: »

That's rich coming from the brain dead vegetable Joeskeppi

Is it D 1ck

Linda_D_2

undetterred wrote: »

Is it D 1ck

Is your full name "can't spell undeterred because I'm a thick w@nker"?

Procrastinator333

Linda_D wrote: »

Is your full name "can't spell undeterred because I'm a thick w@nker"?

Nothing funnier than a troll getting trolled.