We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Plans to retire at 60

124»

Comments

  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    swindiff wrote: »
    We have thought about taking out a SIPP for my wife as even if she takes her pension reduced at 60 she will be well below the personal tax allowance threshold so would be useful to take better advantage of that. Problem is knowing where to start, would want something that we could just set up a direct debit each month and forget about, so something with a well diversified portfolio of equities that did not have large fees?

    A smple online opened sipp or PP using a passive mulit asset fund or global traker would do.
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    swindiff wrote: »
    It does also give me a COPE estimate of £50.50 a week which I guess is what I would have got on top of the £164.35 if I had not contracted out.


    Under the old pension system yes. The new one not. I would have been the 50+ over the basic SP of around 120.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 247K Work, Benefits & Business
  • 603.6K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture