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It's time to start digging up those Squirrelled Nuts!!!!

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  • LHW99
    LHW99 Posts: 5,225 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Sounds like everyone here won't count then :(
  • pterri
    pterri Posts: 363 Forumite
    Third Anniversary 100 Posts Name Dropper
    Of course many DBs are ‘funded’, that is they are paid through investments from employer and employee contributions. Civil service, police, military (and MPs!) are ‘unfunded’, paid through taxation. Don’t have a political view on it but they ain’t the same. 
  • LHW99
    LHW99 Posts: 5,225 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Hard to plan when the goalposts keep moving!!
    Therein lies the problem (not confined the the current Government). When planning for retirement, short notice changes tend to disrupt plans more or less significantly.
  • Moonwolf
    Moonwolf Posts: 489 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    LHW99 said:
    Hard to plan when the goalposts keep moving!!
    Therein lies the problem (not confined the the current Government). When planning for retirement, short notice changes tend to disrupt plans more or less significantly.
    This, I think my plans are more at risk from a 1929 scale market adjustment than anything the government is likely to do outside of a far right or far left coup.
  • Sea_Shell
    Sea_Shell Posts: 10,021 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Thought...

    Do these new IHT on pension rules now make it pointless (for us) to make the £2880 net annual pension contributions?


    But, I suppose (for our beneficiaries) 60% of something is still better than 100% of nothing, right? 

    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • ColdIron
    ColdIron Posts: 9,823 Forumite
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    edited 3 November 2024 at 1:45PM
    Sea_Shell said:
    Do these new IHT on pension rules now make it pointless (for us) to make the £2880 net annual pension contributions?
    It's still £720 that you wouldn't have had. The 6.25% advantage still exists. The income tax position remains unchanged. So just as pointful(?) in that respect
  • westv
    westv Posts: 6,451 Forumite
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    ColdIron said:
    Sea_Shell said:
    Do these new IHT on pension rules now make it pointless (for us) to make the £2880 net annual pension contributions?
    It's still £720 that you wouldn't have had. The 6.25% advantage still exists. The income tax position remains unchanged. So just as pointful(?) in that respect
    And the point of pension contributions is for your own benefit rather than someone else in 20, 30 or whatever years time.
  • michaels
    michaels Posts: 29,100 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ColdIron said:
    Sea_Shell said:
    Do these new IHT on pension rules now make it pointless (for us) to make the £2880 net annual pension contributions?
    It's still £720 that you wouldn't have had. The 6.25% advantage still exists. The income tax position remains unchanged. So just as pointful(?) in that respect
    IT is only 720 if you can draw it out as a non-taxpayer - so before state pension, otherwise only 180
    I think....
  • Hal17
    Hal17 Posts: 346 Forumite
    Part of the Furniture 100 Posts Photogenic
    Good timing on this subject, I was just sitting here working out the numbers. I have 4 opportunities to further contribute the £2,880 per tax year before reaching 75. Just wondering if it is worth now? 
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