Ftse Relagation-Abrdn

Dandytf

eskbanker said:

Dandytf said:

Are you paying enough into your workplace pension to obtain the maximum matching employer contributions?

No, I'm paying Minimum in latest WP Pension.-prefer Sipp.

Is it possible to continue adding extra Conts into Sipp via existing or new Funds,, pr
Not sure exactly what you're asking - what would stop you from adding extra contributions into a SIPP with your own money (provided you don't fall foul of annual and salary pension contribution limits)?

That's fine I was asking as this is my preferred options via latest WP Pension.
as means of building last Top Up scheme.
That must mean more to you than me too.

It does I suspect my Sipp could be my last Pension Scheme.

I haven't decided if it's too much risk to add funds from my Non Isa -separate GIA account.
I don't know what you're getting at there either?

I have a Taxable General Investment Account via Natwest -maybe some savings could be added to Sipp, if I can tolerate the risk. 

I think current Sipp funds are going to be long term which might not be suitable for <10 yrs.
Always best to have some idea of timescales that you're investing for, which is obviously why many cautioned against raiding your S&S ISA for short-term purchases (although this is still likely to be a better idea than investing while in debt).

Excellent timescales are broadly in mind towards retirement years.

Thanks for Isa Funds info, I've set this up with Balanced weighting, never viewed as 'Core' Nor 'Satellite' Funds.
As above, if this means equal proportions (or close to that) then this isn't really a balanced portfolio at all.

I enjoy almost equal proportions rather than going all in.
Though enjoying making choices that potentially last a few years.

thanks

Comments inline above....

Edited professionally.

Thanks appreciated.

Dandytf

@grumiofoundation

May be there are no higher employer contributions available, but if there are do this before investing in SIPP.

-It looks like No Matched Employee Conts, I prefer to continue with HL Sipp -subject to fund choices.

As above no % given but by 'balanced' do you mean equal % for each fund?

-Almost equal amounts to each chosen fund.

Anyway previous suggestions till stand. Pay off high interest debt before investing in stocks and shares ISA, especially hen you are having to dip into it for short term spending.

The 'few' years you mention would ideally be 10+. but how much interest will you pay on credit cars over that time (very likely more than you will make on investment returns)

-Though not 100% debt free, going forward reductions are going to use some Isa or Gia savings.

Thanks appreciated.

eskbanker

Dandytf said:

Are you paying enough into your workplace pension to obtain the maximum matching employer contributions?

No, I'm paying Minimum in latest WP Pension.-prefer Sipp.

 Or as it's otherwise known, throwing away free money 😮

Qyburn

Is there any point in contributing to a pension if you're not getting tax relief, and not getting employer's contributions?  Correct me if I'm wrong but I imagine the pension will still be subject to the same legal restrictions, for example not being able to access before age 55 and being taxed on money you take out of it. If that's correct then surely non-taxed money would be better paid into an ISA.

dunstonh

Is there any point in contributing to a pension if you're not getting tax relief, and not getting employer's contributions?

There are a small number of scenarios where it could be.   For example intergenerational estate planning.     Pensions are not included in the estate for IHT.   And after first death, they are no longer included against the lifetime allowance.   So, saving 40-55% for each death after that.

For most people, there is no sense in paying into a pension unless tax relief is obtained or there is free money from the employer

masonic

S&S ISAs are normally taken into consideration when assessing means tested benefits. This may be of relevance to the OP.

Dandytf

masonic said:

S&S ISAs are normally taken into consideration when assessing means tested benefits. This may be of relevance to the OP.

Never my decider, though I appreciate there are savings limits before some benefit's are penalized.
Not a great concern, though would have to compare losses to any Isa gains.
More important is my need to reduce CC balances, starting with curtains which I was planning to re pay in full or by card over to 0% for a few months.
Ideally Ide prefer to continue as is, though unsustainable without running up endless years of CC's.
Early intervention is going to be of cost from Isa or Gia, whichever it is to be.    
 

Dandytf

dunstonh said:

Is there any point in contributing to a pension if you're not getting tax relief, and not getting employer's contributions?

There are a small number of scenarios where it could be.   For example intergenerational estate planning.     Pensions are not included in the estate for IHT.   And after first death, they are no longer included against the lifetime allowance.   So, saving 40-55% for each death after that.

For most people, there is no sense in paying into a pension unless tax relief is obtained or there is free money from the employer

Thanks I'll continue with Sipp for final working years.
Appreciated.

Dandytf

eskbanker said:

Dandytf said:

Are you paying enough into your workplace pension to obtain the maximum matching employer contributions?

No, I'm paying Minimum in latest WP Pension.-prefer Sipp.

 Or as it's otherwise known, throwing away free money 😮

If I rec' WP employee Matched conts, which this scheme doesn't 😒

eskbanker

Dandytf said:

eskbanker said:

Dandytf said:

Are you paying enough into your workplace pension to obtain the maximum matching employer contributions?

No, I'm paying Minimum in latest WP Pension.-prefer Sipp.

 Or as it's otherwise known, throwing away free money 😮

If I rec' WP employee Matched conts, which this scheme doesn't 😒

Employers are legally obliged to make contributions - if you're saying that even if you pay in more then the employer won't increase their contributions then the answer to my question is 'yes'.  Or are you saying something else, it's difficult to tell?