Not in Crawley Posted October 11, 2022 Share Posted October 11, 2022 Ok - WW hive mind, advice required for an ice cream seller. I'm just re-setting up my pension savings after the pandemic etc I'm looking to - Consolidate all the pension pots I have (there's three) - Start my private pension pot so I can take advatage of some of the benefits of having my own business, and also have it ongoing in case anything happens to the company and I want to be employed by a company again. - On going finanical planning support with an annual review The question is, I've spoken to ABRDN (formally 1825) today and it seems excellent for what I need, it's a £2k set up (that can be taken out of exsisting pension assets) or would it be better going to a smaller one-person band type thing? Be good to hear what other folks do. Quote Link to comment Share on other sites More sharing options...
RoadRunnerFan Posted October 11, 2022 Share Posted October 11, 2022 Isn't @boltondiver the mon for this type of thing? Where is he BTW? Quote Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted October 11, 2022 Site Supporter Share Posted October 11, 2022 11 minutes ago, RoadRunnerFan said: Isn't @boltondiver the mon for this type of thing? Where is he BTW? He got sick of defending the Tories on here only for them to double down a day later and make him have to try again. Don’t blame him. Quote Link to comment Share on other sites More sharing options...
BobyBrno Posted October 11, 2022 Share Posted October 11, 2022 Sounds like someone’s trying to avoid tax. I maybe wrong. 😊 Quote Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted October 11, 2022 Site Supporter Share Posted October 11, 2022 58 minutes ago, Spider said: He got sick of defending the Tories on here only for them to double down a day later and make him have to try again. Don’t blame him. He got sick of moaning cunts. Quote Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted October 11, 2022 Site Supporter Share Posted October 11, 2022 1 hour ago, Tonge moor green jacket said: He got sick of visionaries Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted October 11, 2022 Site Supporter Share Posted October 11, 2022 @Not in Crawley, I tried sending Bolton Diver’s phone number. Apparently you can’t receive messages. Quote Link to comment Share on other sites More sharing options...
Not in Crawley Posted October 12, 2022 Author Share Posted October 12, 2022 11 hours ago, MickyD said: @Not in Crawley, I tried sending Bolton Diver’s phone number. Apparently you can’t receive messages. Thanks - I'll clear the inbox Quote Link to comment Share on other sites More sharing options...
Not in Crawley Posted October 12, 2022 Author Share Posted October 12, 2022 15 hours ago, BobyBrno said: Sounds like someone’s trying to avoid tax. I maybe wrong. 😊 ha ha - I wish I earnt enough for that to be a huge issue. Just trying to get sorted so I can join you on winter hill in my dotage. Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted October 12, 2022 Site Supporter Share Posted October 12, 2022 Just tried again. Still “unable to accept messages” Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted October 12, 2022 Moderators Share Posted October 12, 2022 BD cant log in No idea why as i can log in with his details Quote Link to comment Share on other sites More sharing options...
Not in Crawley Posted October 12, 2022 Author Share Posted October 12, 2022 Might be some new business here for him! Cleared the inbox. And he gets extra pleasure of telling a soft lefty how shite his is at his personal finances which just goes to show you can't trust 'em. Winner winner. Quote Link to comment Share on other sites More sharing options...
MancWanderer Posted October 12, 2022 Share Posted October 12, 2022 On 11/10/2022 at 13:52, Not in Crawley said: Ok - WW hive mind, advice required for an ice cream seller. I'm just re-setting up my pension savings after the pandemic etc I'm looking to - Consolidate all the pension pots I have (there's three) - Start my private pension pot so I can take advatage of some of the benefits of having my own business, and also have it ongoing in case anything happens to the company and I want to be employed by a company again. - On going finanical planning support with an annual review The question is, I've spoken to ABRDN (formally 1825) today and it seems excellent for what I need, it's a £2k set up (that can be taken out of exsisting pension assets) or would it be better going to a smaller one-person band type thing? Be good to hear what other folks do. When I got made redundant a while back I had to take legal advice before being allowed to sign the agreement. The solicitors that I used offered an Independent Financial Advisor. No upfront fees they just take a very small percentage from any pensions/investments He’s absolutely bob on. I had about 8 different pensions. Two big ones, some small ones and some AVCs. He combined some and left others alone based on bonuses and penalties. way above my head I have an annual review with him which is massively useful as he tailors stuff to our personal situation at the time. Took a lump out of one of them when I hit 55 to pay off some off the mortgage but absolutely told me to leave the others alone Happy to send you his details if you have no luck with BD. As ever try a WWayer first Quote Link to comment Share on other sites More sharing options...
Ani Posted October 12, 2022 Share Posted October 12, 2022 On 11/10/2022 at 13:52, Not in Crawley said: Ok - WW hive mind, advice required for an ice cream seller. I'm just re-setting up my pension savings after the pandemic etc I'm looking to - Consolidate all the pension pots I have (there's three) - Start my private pension pot so I can take advatage of some of the benefits of having my own business, and also have it ongoing in case anything happens to the company and I want to be employed by a company again. - On going finanical planning support with an annual review The question is, I've spoken to ABRDN (formally 1825) today and it seems excellent for what I need, it's a £2k set up (that can be taken out of exsisting pension assets) or would it be better going to a smaller one-person band type thing? Be good to hear what other folks do. Everyone should be doing this at the moment. Pensions are going to be fucked ! Check what penalties you pay when you withdraw. What annual charges are there ? I moved all mine to St James Place 3-4 years ago and was the best thing I had done until the current slump has screwed it over. If you are self employed think you can pay upto £40k per annum in tax free. (Employed can top up same amount to I think via AVCs) Not sure how good a time it will be to consolidate, as Pensions scheme are under pressure I imagine surrender values will be low. I had a small amount from my time at a Housing Association and as the scheme was if deficit they could only offer me a massively reduced amount. Most schemes will do a transfer value once a year for free. But definitely worth checking the penalties. I went with SJP as the adviser is a long term mate and he waived most of the fees and actually gave me some of his commission went it was set up. At the end of the day you are betting on the future performance so being with a company you are comfortable with is just as important as anything else . If you are lucky enough to have any final salary schemes I do not think any reputable adviser would let you move. I am at an age where this is more likely to be a topic of conversation than birds, bookies , drugs or football these days. Quote Link to comment Share on other sites More sharing options...
MancWanderer Posted October 12, 2022 Share Posted October 12, 2022 11 minutes ago, Ani said: If you are lucky enough to have any final salary schemes I do not think any reputable adviser would let you move. I am at an age where this is more likely to be a topic of conversation than birds, bookies , drugs or football these days. When I left uni and got a job my dad pretty much forced me to buy a house and join the company pension scheme aged 22. Best bits of advice he gave me. Wished I’d also taken his advice to really understand pensions. To this day I really have no clue so rely on advisors. At my last review a few weeks ago he said that my final salary scheme will pay out £18K a year on retirement at 65. I have absolutely no clue as to whether that is good or not. The value of the pot is huge. He was the same as you. Advised not to touch it. So I won’t. I really should take some time to understand pensions better as I’m also at that age where it’s important Quote Link to comment Share on other sites More sharing options...
Site Supporter Winchester White Posted October 12, 2022 Site Supporter Share Posted October 12, 2022 26 minutes ago, Ani said: Everyone should be doing this at the moment. Pensions are going to be fucked ! Check what penalties you pay when you withdraw. What annual charges are there ? I moved all mine to St James Place 3-4 years ago and was the best thing I had done until the current slump has screwed it over. If you are self employed think you can pay upto £40k per annum in tax free. (Employed can top up same amount to I think via AVCs) Not sure how good a time it will be to consolidate, as Pensions scheme are under pressure I imagine surrender values will be low. I had a small amount from my time at a Housing Association and as the scheme was if deficit they could only offer me a massively reduced amount. Most schemes will do a transfer value once a year for free. But definitely worth checking the penalties. I went with SJP as the adviser is a long term mate and he waived most of the fees and actually gave me some of his commission went it was setup. At the end of the day you are betting on the future performance so being with a company you are comfortable with is just as important as anything else . If you are lucky enough to have any final salary schemes I do not think any reputable adviser would let you move. I am at an age where this is more likely to be a topic of conversation than birds, bookies , drugs or football these days. Took mine out of St James Place years ago as their commission was ridiculous. However they generally do perform well so if you have a decent pot (I dont) then they can be very good. My relatively small investment was wasted with them. Quote Link to comment Share on other sites More sharing options...
Site Supporter Winchester White Posted October 12, 2022 Site Supporter Share Posted October 12, 2022 8 minutes ago, MancWanderer said: When I left uni and got a job my dad pretty much forced me to buy a house and join the company pension scheme aged 22. Best bits of advice he gave me. Wished I’d also taken his advice to really understand pensions. To this day I really have no clue so rely on advisors. At my last review a few weeks ago he said that my final salary scheme will pay out £18K a year on retirement at 65. I have absolutely no clue as to whether that is good or not. The value of the pot is huge. He was the same as you. Advised not to touch it. So I won’t. I really should take some time to understand pensions better as I’m also at that age where it’s important Pretty sure 18k is a decent retirement annual without a mortgage but happy to be corrected by those who know. Quote Link to comment Share on other sites More sharing options...
freds dad Posted October 12, 2022 Share Posted October 12, 2022 16 minutes ago, MancWanderer said: my final salary scheme will pay out £18K a year on retirement at 65. I have absolutely no clue as to whether that is good or not. I suppose it depends when you will be 65. If its the next year or two then its a decent sum if you have no mortgage. If its 15 years away then less so. Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted October 12, 2022 Moderators Share Posted October 12, 2022 Im sure we could both retire, or i was a few months back, but im naturally conservative, so id pretty much said wait til we are 60 Fuck knows what this gormless bitch and her crackpot chancellor may have done to that Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted October 12, 2022 Moderators Share Posted October 12, 2022 For the first time, im actually thinking of setting up my password to see the values of our plans At least we have no mortgage, mrs casino has 40 years of nhs under her belt and i was an only child so have a rental Quote Link to comment Share on other sites More sharing options...
alibob Posted October 12, 2022 Share Posted October 12, 2022 I work for a wealth management company that is part of st James place. I’m only back room staff but let me know if you want me to put you in touch with someone. Quote Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted October 12, 2022 Site Supporter Share Posted October 12, 2022 2 minutes ago, alibob said: I work for a wealth management company that is part of st James place. I’m only back room staff but let me know if you want me to put you in touch with someone. A former IFA who ripped me off together with his business partner (and probably others) disappeared off to St James place group. What a cunt he is, and I would welcome the opportunity to rip his head off and spit down the hole. Quote Link to comment Share on other sites More sharing options...
Ani Posted October 12, 2022 Share Posted October 12, 2022 2 hours ago, MancWanderer said: When I left uni and got a job my dad pretty much forced me to buy a house and join the company pension scheme aged 22. Best bits of advice he gave me. Wished I’d also taken his advice to really understand pensions. To this day I really have no clue so rely on advisors. At my last review a few weeks ago he said that my final salary scheme will pay out £18K a year on retirement at 65. I have absolutely no clue as to whether that is good or not. The value of the pot is huge. He was the same as you. Advised not to touch it. So I won’t. I really should take some time to understand pensions better as I’m also at that age where it’s important So based on current you will £28k per year once state pension kicks in which ain't bad. Did you also get a tax free lump sum ? Or is that assuming all invested into an annuity ? Quote Link to comment Share on other sites More sharing options...
Ani Posted October 12, 2022 Share Posted October 12, 2022 1 hour ago, freds dad said: I suppose it depends when you will be 65. If its the next year or two then its a decent sum if you have no mortgage. If its 15 years away then less so. I assumed the £18k was based on today and final pension schemes go up with inflation. Quote Link to comment Share on other sites More sharing options...
Ani Posted October 12, 2022 Share Posted October 12, 2022 2 hours ago, MancWanderer said: When I left uni and got a job my dad pretty much forced me to buy a house and join the company pension scheme aged 22. Best bits of advice he gave me. Wished I’d also taken his advice to really understand pensions. To this day I really have no clue so rely on advisors. At my last review a few weeks ago he said that my final salary scheme will pay out £18K a year on retirement at 65. I have absolutely no clue as to whether that is good or not. The value of the pot is huge. He was the same as you. Advised not to touch it. So I won’t. I really should take some time to understand pensions better as I’m also at that age where it’s important Do you only have the 1 pension ? So have always worked at same place ? Quote Link to comment Share on other sites More sharing options...
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