Tax Cafe Pension Magic by Nick Braun PhD

Astraios

Has anyone read the above book? I'm starting out with a pension and conducting research. Is it a good read for a beginner?

Many thanks.

JoeCrystal

One of the best places to tap great knowledge is on this very forum. You can ask questions and this forum can answer them. Personally, the best thing to get a good sounding on pension schemes is to lurk and read the posts on the topics covering all aspects.

Having said this, I am not sure the book is worth that expense when most of the information can be found for free or discussed

dunstonh

The problem with published material is that it goes out of date very quickly. Every year sees new things happen.

Personally, I have never heard of the book or author and the website seems to position at as a generic guide. Which, of course, it cant really be anything else. At £27 it seems very expensive for a generic bunch of text. Especially as the bulk of it is unlikely to apply to you.

marlot

There are some great experts on this forum - I've learned so much from them. It meant that when it was time for me to seek an IFA, I knew what I was looking for.

Perhaps start by reading these guides? http://www.scottishwidows.co.uk/retirement/retirement-explained/

AnotherJoe

I'm not impressed. It seems to start off with something that can cause big confusion, because it makes the assumption that whatever you pay in, will be bumped up by 20% (this is before we get into high rate taxpayers). So, pay in £80 and you end up with £100.

However this isn't true if you pay into a standard employer scheme. What happens then is that, say your £100 goes in and then you dont pay tax on it, making it equivalent, but someone who just starts read this book might be expecting to see £125.

To omit this at the start, when it applies to pretty much any employee, seems to be a major omission. Add to that, the book discusses and indeed trumpets at the start, how its ONLY about the benefit OF SAVING TAX (their capitals not mine).

What about the benefit of matched employer contributions, which for many, especially the lower paid, is a significant bump up that could even be doubling their contributions and thus is far more significant than THE TAX SAVINGS? Yet this doesn't come in until far more than 100 pages into the book by which time the lower rate taxpayer may have tired reading about company directors and buy to let.

Now Ive only skim read after the start, but for £27 i didnt see anything you cant find on numerous websites, true not all in one place, but how many people need info on basic rate tax, high rate tax, pensions for children company directors etc etc etc all in one place? As Dunstonh said, much of it wont apply to you and what does you can read on dozens of websites and also ask questions, here and elsewhere.

Terron

As someone who knew very little I found it very useful. My edition is now out of date, but there is an updated one available. I won't be buying that, but I do not regret my initial purchase.