Choices

Datsaid

As i dont need my earnings to live on with 4 years in cash isas etc with no salery sacrifice available should i invest 100% earnings into l+g workplace pension default fund or my pp pru with profits pension .
Currently living on oh salery.
56 hoping to finish work no later than 60

Dox

Depends what you want to achieve and your attitude to risk, so possibly neither of the above. What's your priority: tax relief, protection of capital, keeping pace with inflation...?

More info needed, please.

Albermarle

Rather than just a binary choice between two funds , you need to look at a wider picture e.g
1) How do you propose to use your pensions to fund your retirement . Buying an annuity or going into Flexi Drawdown?
2) Do you have any other financial reserves; cash or stocks and shares ?
3) Will you get the full state pension at 66?

When you look at the full picture you can better estimate what kind of fund(s) you should invest in . High or low risk etc

Datsaid

I am risk adverse but want to at least mitigate inflation

Datsaid

Dox wrote: »

Depends what you want to achieve and your attitude to risk, so possibly neither of the above. What's your priority: tax relief, protection of capital, keeping pace with inflation...?

More info needed, please.

Datsaid wrote: »

I am risk adverse but want to at least mitigate inflation

Albermarle wrote: »

Rather than just a binary choice between two funds , you need to look at a wider picture e.g
1) How do you propose to use your pensions to fund your retirement . Buying an annuity or going into Flexi Drawdown?
2) Do you have any other financial reserves; cash or stocks and shares ?
3) Will you get the full state pension at 66?

When you look at the full picture you can better estimate what kind of fund(s) you should invest in . High or low risk etc

I will use drawdown oh has 10kpa pension due rental income 6kpa other savings small pots 150k

xylophone

Have you checked your state pension forecast?

And your spouse?

https://www.gov.uk/check-state-pension

If you will not be working from age 60, it seems to me to make sense to contribute to your pension so as to be able to use your full PA when you retire,

Datsaid

Forgot to mention we are both due full sp at 67 have got forcasts

dunstonh

I am risk adverse but want to at least mitigate inflation

Every option has risks. You cannot avoid risk. Using cash ISAs can actually be riskier than sensible investment risk.

Datsaid

Can you comment on my origional point about 100% pension contrubitions intrested in you're. opinion

Mr_EDATD

I don't know the details of the two schemes that you mention but in terms of your plan to put 100% of salary into one of them there are some tax based considerations:

Is your salary over £40k per annum (annual tax allowance)? Will it put you over the lifetime allowance £1.03m?

Is your other half a higher rate tax payer...might be better for them to increase contributions and live of some of your standard rate income.

Also worth thinking about getting a tax efficient way of taking your pensions...would it be better being received by your partner?