Well done George dropping pension changes

Mistermeaner

Thank god sense has prevailed; I'm sure this will be revisited at some point but DC pension. Savers need every bit of help they can get compared with db and public sector schemes - this would IMO have been to the detriment of the young for the benefit of the old.

Need to save money.... Deal with be edits and tax credits first.

Twopints

I believe the reason it has been postponed is because it would impact the better off, more likely Tory voters, who would then be !!!!!! off at the Government and would possibly vote against them in any voting that may be happening a couple of months later.

It's for political, not financial, reasons.

:beer:

chucknorris

Mistermeaner wrote: »

Thank god sense has prevailed; I'm sure this will be revisited at some point but DC pension. Savers need every bit of help they can get compared with db and public sector schemes - this would IMO have been to the detriment of the young for the benefit of the old.

Need to save money.... Deal with be edits and tax credits first.

That pension ISA option would have almost certainly brought forward my retirement plans. As I would not not been able to avoid paying 60% marginal tax, and on top of about 10% national insurance and travelling expenses/professional fees, there would have been no value for me to have carried on working. I may end up retiring soon anyway, a lot depends on when my wife retires.

Mistermeaner

chucknorris wrote: »

That pension ISA option would have almost certainly brought forward my retirement plans. As I would not not been able to avoid paying 60% marginal tax, and on top of about 10% national insurance and travelling expenses/professional fees, there would have been no value for me to have carried on working. I may end up retiring soon anyway, a lot depends on when my wife retires.

Chuck you should IMO retire right now. You are loaded and wasting your life in work and on here. Your wife doesn't need to work either. Quit on Monday. Fill 2 rucksacks and book a 1 way ticket to Thailand.

Before its too late.

Walk along the river with your dog and rant about politics and economics online when you're 80 and can't shoulder the rucksack anymore

CLAPTON

Twopints wrote: »

I believe the reason it has been postponed is because it would impact the better off, more likely Tory voters, who would then be !!!!!! off at the Government and would possibly vote against them in any voting that may be happening a couple of months later.

It's for political, not financial, reasons.

:beer:

good heavens
politicians making decisions for political reasons?

caronoel

Mistermeaner wrote: »

Thank god sense has prevailed; I'm sure this will be revisited at some point but DC pension. Savers need every bit of help they can get compared with db and public sector schemes - this would IMO have been to the detriment of the young for the benefit of the old.

Need to save money.... Deal with be edits and tax credits first.

Really good news.

Hopefully, he will also roll back some of the proposed draconian tax charges on property investors, which will only push up rents in any event

chucknorris

Mistermeaner wrote: »

Chuck you should IMO retire right now. You are loaded and wasting your life in work and on here. Your wife doesn't need to work either. Quit on Monday. Fill 2 rucksacks and book a 1 way ticket to Thailand.

Before its too late.

Walk along the river with your dog and rant about politics and economics online when you're 80 and can't shoulder the rucksack anymore

It might happen soon anyway, not only because my wife lost her mother, which underlined (once again) the fragility of life and how short that it can be, she was only 72, and in reasonable health not long before she passed away.

But also because my wife supported her mother financially by providing her with a house to live in, plus paid all her bills and also provided some spending money. She is now talking about possibly retiring this December, that could easily trigger my retirement too.

mwpt

caronoel wrote: »

Really good news.

Hopefully, he will also roll back some of the proposed draconian tax charges on property investors, which will only push up rents in any event

I really hope not and do not believe he will. The talk about applying similar changes to corporate interest relief shows he isn't interested in back-tracking.

Rents were always going to rise anyway, heck they previous rose at high levels despite the reduction in landlords biggest expense (interest).

Rich2808

I expect Osborne was forced into this by Cameron. IDS and Ros Altmann were opposed.

The talk probably was - we have a referendum to win so we need this like a hole in the head.

I expect its only been postponed - pension relief will inevitably become a target again sooner or later. And you wonder what will be cut now instead - as presumably Osborne was banking on the savings.

Rich2808

caronoel wrote: »

Really good news.

Hopefully, he will also roll back some of the proposed draconian tax charges on property investors, which will only push up rents in any event

There won't be any rolling back of the tax changes on buy to let landlords. They are a tiny section of the population unlike those getting pension tax relief. Osborne needs the cash even more with the pension changes being postponed.

There are far more potential Tory first time buyers - let alone their parents and grandparents - who are quite keen to see a levelling of the playing field. Buy to letters are an easy target - as they are hardly popular. And who else are they going to vote for - Corbyn with his rent controls and right to buy for private tenants?

wotsthat

It's shafted the annual pre-budget fear marketing of the pension companies.

It's around about now I get invited to fill my boots because tax relief is going to be scrapped, contribution limits tightened etc.