HSBC FTSE All World Acc

MoneyMan01

Yeah I see what you mean. Makes sense.

Personally I'll be going with this option as I have a seperate pension where my employer puts 10% in, seperate from my salary. Has the benefit of like you say going in pre tax, though I'm opting for a stocks and shares ISA in my personal situation for this amount as it gives a better amount of control of where I want to distribute or how much I want to access this amount eventually, whilst still having the other pension alongside.

dunstonh

TheDarkKnight93 said:

Yeah I see what you mean. Makes sense.

Personally I'll be going with this option as I have a seperate pension where my employer puts 10% in, seperate from my salary. Has the benefit of like you say going in pre tax, though I'm opting for a stocks and shares ISA in my personal situation for this amount as it gives a better amount of control of where I want to distribute or how much I want to access this amount eventually, whilst still having the other pension alongside.

The pension wrapper gives you the same control.       Do not mistake a workplace pension with the pension wrapper on an investment platform.    The pension wrapper on the platform gives you the same investments at the same cost with the ability to draw ad-hoc lump sums if needed (or any other withdrawal method).

MoneyMan01

Ah I see. I was under the impression you could only take a lump sum of the pension tax free, and then the remainder, if you wanted to take it before age 55, would be a tax penalty.

Whereas Stocks & Shares ISA you aren't tied into that.

coyrls

TheDarkKnight93 said:

Ah I see. I was under the impression you could only take a lump sum of the pension tax free, and then the remainder, if you wanted to take it before age 55, would be a tax penalty.

Whereas Stocks & Shares ISA you aren't tied into that.

You can't take anything from your pension before 55.

MoneyMan01

That's what I thought, hence why I initially said the S&S ISA gives a different access option to my pension. But as donstonh mentioned they aren't the same I was curious as to what was different.

dunstonh

TheDarkKnight93 said:

Ah I see. I was under the impression you could only take a lump sum of the pension tax free, and then the remainder, if you wanted to take it before age 55, would be a tax penalty.

Whereas Stocks & Shares ISA you aren't tied into that.

You get tax relief when you go on.  So, a £125 pension contribution costs £100 if you are a  basic rate taxpayer or lower.
When you draw on the pension after 55, 25% is tax free and 75% is subject to income tax above your personal allowance.    So, if its fully within the personal allowance, there is no tax.   But it equates to 15% if all of it is above your personal allowance.

ISAs get no tax relief going in and no tax coming out. So, the outcome with ISAs is that you get less than you would with pensions in most cases.

Hence why I said for those at or near 55, the pension wrapper could be better than ISA wrapper.

Flatulentoldgoat

I wanted to buy this on AJB. Any idea why it can't be found?

kinger101

Flatulentoldgoat said:

I wanted to buy this on AJB. Any idea why it can't be found?

https://www.youinvest.co.uk/market-research/FUND:BMJJJF9