I know there's one or 2 involved in the financial sector and think Hazzy is a FA but don't want detail advice just any tips on best way to take a pension contribution from my employer, would it be better them paying into a company fund or straight into one of my existing pensions? Also want to chip in some more pension from my own salary again best into existing pension or into company scheme? Company pension is not up and running yet but the company said they'd hold my contribution to one side and then pay it in as and when the pension fund set up. Thanks in advance.

Edited March 26, 201511 yr by Mounts Kipper

Its a shame and so many old folk will always look for the good in their family members not wishing to think bad of them. I'd like to think it would affect peoples conscience being so callous but they probably don't have a conscience.

 

And yes, get it spent, get a tattoo and a flashy car and be stupid, that's what I would like my family members to do. My uncle in Australia has bought a Harley and has had his ear pierced in his 70's, he doesn't take himself or much seriously, fair play.

Edited March 28, 201511 yr by HR

you're parents aren't daft though, are they?

 

 

I didn't think so...... However.

 

He's been with his Mrs and 7 I think kids (I shit you not and obviously at every other fuckers expense) for the same period, 15 or so years.

 

They have come out and said how much they would like everyone present at their wedding, only they haven't any money.  They have never mentioned anything of the sort in the past.

 

Getting married in July and I'm assuming their numbers haven't come up.

My mother-in-law saved a tidy sum for her old age but we'll not see any of it as it's being decimated by care costs.

My mother-in-law saved a tidy sum for her old age but we'll not see any of it as it's being decimated by care costs.

And that's the crux of it, and why my dad wants to spunk it away.

 

£600 a week for shit care the Mrs grandma was paying. When she popped it a few months back there was only 30k equity left in her house after paying for the care.

 

I can definitely see why people are planning to do it!

And that's the crux of it, and why my dad wants to spunk it away.

 

£600 a week for shit care the Mrs grandma was paying. When she popped it a few months back there was only 30k equity left in her house after paying for the care.

 

I can definitely see why people are planning to do it!

with the right advice there are ways around it but it does involve an element of trust which often families dont have

with the right advice there are ways around it but it does involve an element of trust which often families dont have

Aye, and plenty of time where the owner is of sound mind which in this case they didn't have.

I'm 61 this year,and Sra. Kerr will be 66. We rent our house, and are skint. I have three pensions from various employers, one of which pays me just £32 per month and there is about 15 grand in the pot. If I can get this paid up, I will.

I can do more with a net 12 grand than I can with £32 per month.

At our ages, how long is long term planning ?

I'm 61 this year,and Sra. Kerr will be 66. We rent our house, and are skint. I have three pensions from various employers, one of which pays me just £32 per month and there is about 15 grand in the pot. If I can get this paid up, I will.

I can do more with a net 12 grand than I can with £32 per month.

At our ages, how long is long term planning ?

As you're likely to be dead before 2046, you're better off with the cash

What a marvellous bedside manner you have Dr. Trafford.

I'm 61 this year,and Sra. Kerr will be 66. We rent our house, and are skint. I have three pensions from various employers, one of which pays me just £32 per month and there is about 15 grand in the pot. If I can get this paid up, I will.

I can do more with a net 12 grand than I can with £32 per month.

At our ages, how long is long term planning ?

 

The new rules come in next week.

They were a bolt from the blue and many pension schemes and annuity providers are not ready for the change.

New products will be being devised currently.

It may be that a new product will suit you, but hasty action will eliminate that possibility.

Wait until later in the year and decide what to do at the year end, not now.

Do not rely solely on what you may read in the press; in the 70s the press were all saying buy from one of the tree companies which do not pay commission, namely Equitable Life, London Life and UK Provident.

Equitable made a virtue of not holding profits back in reserves, so when the rainy day came they sunk. The only surprise to me as that they survived for over 200 years. These days the waters are very choppy so they had no chance. The other two made disastrous investment decisions and now operate as poor closed funds, having been taken over in distress.

Thanks Malc, and to a lesser, but more direct extent Traf. I will consider your advice.

I didn't mean to be blunt, but actually fuck that, yes I did!

 

Get it and spend it, mate.

Even more top notch advice. That's why I come on here.

There is so much coverage on this topic and much of it is conflicting. The bottom line is if you decide to cash in your pension for the intention of making it work harder for you then good luck, that is exactly what the government want you to do. I had the opportunity to take my pension 15 years early at 50 and did so with the intention of investing the lump sum in property along with money we had saved up. We now have a property portfolio that delivers on average an 8% return which is so much better than the banks could offer.

If you decide to cash in with the intention of spunking the lot on fast cars and loose women fair play too ..you only live once after all   

Great to hear some civil servant moaning yesterday about not being able to get his hands on "his money"

Whos money is it??

Whos money is it??

 

 

They are unfunded, so backed by no money.

I saw something on FB this week about an elderly woman spending hers to live on Cruise Ships.  Probably bullshit, but does get you thinking.  My Nan was in a Care Home before she died and I would hope she felt happy, in her own way.  What terrifies me, is getting old and not remembering the good times.  If you can't, at least you'd hope you'd think that things could be worse.  Clean bedding, good food, smiley faces...

I saw something on FB this week about an elderly woman spending hers to live on Cruise Ships.  Probably bullshit, but does get you thinking.  My Nan was in a Care Home before she died and I would hope she felt happy, in her own way.  What terrifies me, is getting old and not remembering the good times.  If you can't, at least you'd hope you'd think that things could be worse.  Clean bedding, good food, smiley faces...

Smiley Faces

 

is that what they feed them

 

thought only NB eat them

I saw something on FB this week about an elderly woman spending hers to live on Cruise Ships.  Probably bullshit, but does get you thinking.  My Nan was in a Care Home before she died and I would hope she felt happy, in her own way.  What terrifies me, is getting old and not remembering the good times.  If you can't, at least you'd hope you'd think that things could be worse.  Clean bedding, good food, smiley faces...

it's true, a wealthy american woman ,who loved going on cruises with her husband.

he died , she carries on.

 

don't blame her

Smiley Faces

 

is that what they feed them

 

thought only NB eat them

No, that's potato waffles, you daft dwarf!

No, that's potato waffles, you daft dwarf!

I bet you went through some Smiley faces back int day!

 

ACEEEED

I see Osborne is looking to fuck the middle yet again

 

Tax relief on pensions to be given a flat rate of anywhere between 20% - 30%

 

Good for some but further bad news for middle income

 

http://www.independent.co.uk/news/uk/politics/george-osborne-faces-tory-backbench-revolt-over-6bn-stealth-raid-on-rich-pensioners-a6822006.html

 

He really is a tedious bastard

 

An alternative to the Tories is desperately required to stop them just doing as they please

I'm fucked it I know why you'd get 40% tax relief anyway.

Because its a cunts trick trying to have it both ways

 

If your above the threshold then you get clobbered for 40% BIK on your car, healthcare, broadband etc etc whereas if your below all the BIK is half that

 

If they want to do flat rates why don't they do it on everything then? I'd rip your hand off for that

 

If they want to recover some money through pensions then relief should come down equally across the board

 

If they run with a flat rate of 25% for example then a lower rate tax payer will be getting more tax relief than tax they would have paid anyway

 

It's bonkers