SIPP Advice

AnotherJoe

Very interesting reading KM, thanks for the heads up.

summetj

AnotherJoe wrote: »

Id be quite sceptical about any mix depending on age, in that that sort of gradual move to bonds was meant to prepare you for what was basically an abrupt transition to retirement and buying an annuity.

But now that people may be in drawdown for 20,30 or 40 years the trend is moving to having a much higher percentage of equity for much longer. As a real-life example, my company started a new pension scheme in 2010 and the default was to be on this kind of lifestyling scheme whereby once members got to a certain age maybe 50 or so, they were gradually switched to bonds and cash.

Well, the rethink even over such a short time has been such that everyone at that sort of age now sees an adviser and the advice is to stay more more in equities. People only get into a lifestyle fund now if they actively choose it rather than it being the default..

Fair point, in particular now that people are looking for their money to work for them during the retirement years and not always just looking to cash in the accumulated pot

summetj

kidmugsy wrote: »

A REIT perhaps, a gold ETF, an international index-linked bond fund, and some global equity.

Golly, it's fun picking portfolios for other people. No sweat.

One investment writer that I've liked over the years is John Kay. You might care to look at his website.

QUOTE]


Good read, thanks

xylophone

Your wife is currently earning - does the employer offer a pension scheme?

If not, under auto enrolment one will have to be offered?

And while in view of the size of the salary, AE is not obligatory see

https://www.gov.uk/workplace-pensions/joining-a-workplace-pension

under When your employer doesn’t have to automatically enrol you

it may be that she could still join and get an employer contribution?

summetj

Your wife is currently earning - does the employer offer a pension scheme?

If not, under auto enrolment one will have to be offered?

And while in view of the size of the salary, AE is not obligatory see

under When your employer doesn’t have to automatically enrol you

it may be that she could still join and get an employer contribution?


It's a small barbers with only three staff and I believe all are under 10K p.a.

xylophone

It's a small barbers with only three staff and I believe all are under 10K p.a.

Has the boss had an auto enrolment staging date?

http://help.thepensionsregulator.gov.uk/faq/general/staff


Do I need to set up a pension scheme if none of my staff need to be put into one?

If any of your staff are not aged between 22 up to state pension age and earn less than £192 a week or £833 a month, then you only need to put them into a pension scheme if they ask to join. If this happens, you’ll need to set one up at this point. If your member of staff earns more than £112 a week (or £486 a month) you must pay money into the scheme as well. If they earn less than this, you can choose whether you wish to pay money in or not.

If you have staff aged between 22 and state pension age, you’ll need to check each time you pay them after your staging date whether their earnings are over £192 a week (£833 a month). If their earnings are over this amount, you’ll need to provide a pension scheme for them. This includes anyone who starts working for you after your staging date as well.

summetj

I'm not too sure, but will discuss with my wife to see if she can remember. Thanks.