Pensions

[eggsarascal]

What's yours worth?, I was flabbergasted when one of my brothers told me what he was drawing, he's 60 and put the graft, and the money in,  but...

Edited January 7, 2019 by eggsarascal

[Ratman]

What's yours worth?, I was flabbergasted when one of my brothers told me what he was drawing, he's 60 and put the graft, and the money in,  but...

Flabbergasted good or flabbergasted bad?...... just had my forecast through actually eggs! At the mo, retiring at 66 (not 67) as my pension was set up before regs were rewritten again, if i continue to put in what i am till i retire, then i’m looking at £8k per annum. That figure will rise obviously between now and then. I’ve only been paying in to that one for 8... nearly 9 years.
I’ve got 10yrs worth from my final salary pension to take in to account also, i transferred it nearly two years ago in to a sipp, as it was frozen cos they stopped the final salary [emoji30] not sure on return from that at min as i’m due to renegotiate on it cos my 2yr period is nearly up.

[eggsarascal]

19 minutes ago, Ratman said:

Flabbergasted good or flabbergasted bad?...... just had my forecast through actually eggs! At the mo, retiring at 66 (not 67) as my pension was set up before regs were rewritten again, if i continue to put in what i am till i retire, then i’m looking at £8k per annum. That figure will rise obviously between now and then. I’ve only been paying in to that one for 8... nearly 9 years.
I’ve got 10yrs worth from my final salary pension to take in to account also, i transferred it nearly two years ago in to a sipp, as it was frozen cos they stopped the final salary not sure on return from that at min as i’m due to renegotiate on it cos my 2yr period is nearly up.

His pension will keep him over the higher tax threshold.

 

[spudulike]

Industry rule of thumb is £5K income per year from every £100K in your pension. Best start these things at 20 years if possible as it is a long game drip feed affair!

[Ratman]

Cough cough!!! Splutter!!! Fair play to him eggs hope he makes the most of it ?

[Ratman]

He needs to “gift” a certain amount, drop him bk under threshold, bound to be a loop hole somewhere.

[eggsarascal]

5 minutes ago, Ratman said:

He needs to “gift” a certain amount, drop him bk under threshold, bound to be a loop hole somewhere.

I'm fairly sure he knows what he's doing, he's a chartered accountant by trade, he's been in the vehicle recovery trade for years, you'd know the company.

[Ratman]

I think i remember you mentioning when we had a natter [emoji106]
Off to my pit now mucker, got 4am get up tomoz, going up to our middlesborough depot to sort one out thats been stood from friday 21st dec till today. Wont start so presume flat batts. And a trailer with some brakes stuck on and couple of lights out. Be good [emoji106]

[donnk]

7 hours ago, spudulike said:

Industry rule of thumb is £5K income per year from every £100K in your pension. Best start these things at 20 years if possible as it is a long game drip feed affair!

and there is the con.

 

put 100k in the bank and draw on it for 20 years without growth. 

 

Oh the tax law dissuades us from doing this as the parasites in the finance houses couldt rape 5% a year from your pot for 20 years for pressing a button on a computer.

 

I'm not cynical at all.

 

 

[Stephen Blair]

The second I’m 55 I’m drawing the lot and paying the tax.