Threats to UK pension savers

lisyloo

Losing up to 50% of your company pension when your employer goes out of business !!

Source bbc reporting PPF rules wrt Thomas cook.

zagfles

lisyloo wrote: »

Losing up to 50% of your company pension when your employer goes out of business !!

Source bbc reporting PPF rules wrt Thomas cook.

"up to 50%" is a sensationalist headline, 50% would only apply to the very highly paid. The vast majority will get at least 90%. Although possibly with worse indexation.

Thrugelmir

zagfles wrote: »

"up to 50%" is a sensationalist headline, 50% would only apply to the very highly paid. The vast majority will get at least 90%. Although possibly with worse indexation.

My first concern when losing my job was finding another one. Pensions aren't normally the first task on the agenda.

lisyloo

zagfles wrote: »

"up to 50%" is a sensationalist headline, 50% would only apply to the very highly paid. The vast majority will get at least 90%. Although possibly with worse indexation.

That’s very good know.
I must admit I was shocked to read that.

Mick70

political threats ? i.e if a hard left wing govt (corbyn? ) decided to reduce the LTA allowance level down to say 750k (or increase the tax percentage ?)
stock market crash risks ?

Twopints

Mick70 wrote: »

political threats ? i.e if a hard left wing govt (corbyn? ) decided to reduce the LTA allowance level down to say 750k (or increase the tax percentage ?)
stock market crash risks ?

Is that the same LTA that was £1.8m in 2010? Since when it been reduced by a hard left wing govt to £1.055m.... Oh, wait, that can't be right

:beer:

zagfles

lisyloo wrote: »

That’s very good know.
I must admit I was shocked to read that.

See https://www.ppf.co.uk/what-it-means-ppf

The cap is about £40k at age 65, so way above the pension that most TC employees would be entitled to.

zagfles

Twopints wrote: »

Is that the same LTA that was £1.8m in 2010? Since when it been reduced by a hard left wing govt to £1.055m.... Oh, wait, that can't be right

:beer:

No it was reduced by them nasty Tories who like to help their rich mates...Oh wait - that can't be right either :beer:

michaels

Labour are confiscating 10% straight off to hand to the 'workers' regardless of whether they are earning 100k or more. Then perhaps they will confiscate another 10% for NHS and so on.

Mick70

Twopints wrote: »

Is that the same LTA that was £1.8m in 2010? Since when it been reduced by a hard left wing govt to £1.055m.... Oh, wait, that can't be right

:beer:

Ha.. I had wrongly assumed labour must have brought it in as a means of taxing higher earners / savers . Bit of a strange one why the tories reduced the LTA