New higher salary

Emmia

Albermarle said:

Emmia said:

EnPointe said:

Emmia said:

DRS1 said:

LB003g0676 said:

I'm 34 and expect to retire once I can't work anymore. But let's say 70. I am in the NHS pension scheme and absolutely intend to remain. It's basically like £1 in for every £3 I earn (though I expect my contribution rate will change now).

Is there sufficient faith in the markets that investment or S&S ISAs are the best bet? I appreciate that's probably the case, it just wasn't something I've invested a load of time looking at.

You are contributing 33% of your salary?  Or 25%?  That sounds quite high.
Given this is the Cutting Tax board the obvious suggestion is to contribute enough to your pension to get your taxable income down below the higher rate tax band.  But maybe you're already doing that and more?

And that's money locked up to retirement, it's inflexible in that way.

the value, even of the NHS  pension scheme CARE scheme (2007 or 2015)  is  significant (although potentially not a s good as 1995 section FS  benefits) 

It is. I have a CS pension which is similarly valuable.

But I'm not sure I'd prioritise additional pension savings over investments that would/could offer me choices and flexibility in the future - investment to allow early retirement for example.

Of course that means someone can't avoid the higher rate of tax via increasing their pension contributions.... Swings and roundabouts.

The OP indicated he was not looking for early retirement, even mentioned working until he was 70 !
In that case the age restrictions on pension withdrawals would affect him.

Things change... What you want / expect at 30 may look different at 50, 55. I prefer a bit of flex/options The OP may feel different.

HedgehogRulez

LB003g0676 said:

Hi guys, I've just jumped from £40k a year to almost £69k a year.

Niiiiiiiice