1
vote
5answers
157 views

As a contractor, should I overpay my mortgage or contribute to a pension?

My specific situation is:- Early 30s Software contractor via a ltd company Resident in Scotland Higher-rate taxpayer Mortgage at ~5% (variable 4.5% above BoE), LTV about 75%. I'm allowed to overpay ...
2
votes
1answer
40 views

Why would you use an IFA for choosing a pension fund

I've been trying to sort out a pension fund and been talking to an advisor from st. james place, who whilst admittedly not exactly an IFA does seem to know his stuff. But their fees are relatively ...
3
votes
1answer
84 views

Is there any way to cash in a pension fund?

The last company I worked for (I'm in in the United Kingdom) had one of those schemes where the company puts a certain amount of money every month into a pension fund. I quit my job and now I keep ...
2
votes
1answer
98 views

Do I have to pay an advisor 3% to transfer a pot of £49,000 to another pension provider?

I am looking to re-invest a stand-alone pension (originally called an AVC pension: Additional Voluntary Contributions pension) so that I can take 25% as a tax-free lump sum and retain flexibility in ...
2
votes
1answer
35 views

How should I include pension contributions in my UK Child Benefit calculations?

I'm using the gov.uk Child Benefit Tax Calculator and I don't know how I include my pension contributions in the "Pension contributions deducted from your pay" and "Pension contributions not paid from ...
2
votes
1answer
154 views

What should I do with a low value pension that I probably won't contribute any more to?

About 7 years ago I was employed by a small company. They set up a pension fund for me which I contributed to while I was employed there. When I eventually left the company to study, I found out that ...
2
votes
1answer
75 views

Undestanding the new UK Pension laws

I have this scenario and I am having problems understanding how this scenario fits into the upcoming pension laws (mentioned in the latest budget). A man who is 66 now and 67 on the 8.11.14 has ...
0
votes
1answer
115 views

Do UK tax rules allow you to hold Bitcoin in a SIPP?

Do United Kingdom tax rules allow you to hold Bitcoin in a self-invested pension plan?
1
vote
1answer
163 views

Is it possible to use part of my pension to pay loans, or to opt out of the pension scheme altogether for a few years until my loans are paid?

I have so far worked in Singapore, Norway, and now in the UK. My knowledge about pension scheme in general is very limited. What I only know is that part of my gross salary goes to tax and part of it ...
5
votes
2answers
149 views

What type of pension should I get?

I am in my mid 30s and am employed full time in the UK. I am currently in a company pension scheme with around 7k in it, but I'm about to start a new job and must leave the scheme. I have the option ...
3
votes
1answer
166 views

What is the difference between state pension plans and defined contribution plans?

Googling "State pension plan" I get the result as shown here: http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/index.htm. As described on the webpage, "Once you claim your State ...
1
vote
2answers
162 views

Cheap SIPP providers in the UK

What are cheap SIPP providers in the UK? I would be saving around £333 each month in a SIPP starting from zero (all my previous pension contributions are in an employer-organizaed group pension plan). ...
3
votes
2answers
116 views

Potential problems with SIPPs and ETFs

My plan for kick-starting my pension is to set up a Self Invested Pension Plan and buy some ftse 100 Exchange Traded Funds (iShares, probably). This is only the starting point, the simplest thing ...
0
votes
1answer
29 views

Understanding company pension plan monthly purchase of funds

A pension based on funds. What does it mean to add £500 a month to a pension based on funds? Does that mean, I will own an additional £500 worth of that fund each month based on how much of the fund ...
4
votes
1answer
109 views

Pensions - Where to start? (UK)

What are the key decisions that I need to make and what key information should I know before starting a Pension in the UK? I am 24 and living in the UK. I want, well more like should, start a pension ...
5
votes
3answers
236 views

Is there a rule of thumb for how much to save into your pension for retirement?

Pension sites often quote "Use our pension calculator to estimate the amount of pension income you could get when you retire. This will help you decide how much you need to save to get the retirement ...
3
votes
1answer
67 views

Should I be choosing funds myself for my Stakeholder pension? How?

I am filling out the forms to join my company pension scheme (I'm 30 y/o), and I am unsure about which funds to choose. I can choose the Friends Provident Balanced Index Fund of Funds or 1 or more of ...
5
votes
1answer
178 views

What pension options are there for a 22 year old graduate in the UK?

Following graduation last July, I've managed to save quite a significant amount of 'emergency wonga', for those rainy days or, more likely, the catastrophic end to my job. Anyway, now that I have a ...
10
votes
3answers
456 views

Is it worth having a pension?

I know this could be a duplicate of other questions here, but I think I have a different take on it which may be of interest to others in a similar frame of mind. Some background I'm self-employed ...
6
votes
1answer
113 views

What is the best option for recent employee setting up a pension (UK)?

I have been a sole trader for a while and recently been employed full time, as part of the deal I have been promised an employer contribution pension but it is up to me to decide what to do. What are ...
11
votes
3answers
944 views

Pensions, why bother?

Ok this question is going to show my age, but its something I've been thinking about for a while and can't quite figure it out Why bother with a pension? I don't understand, why should I put away ...
10
votes
3answers
298 views

Pension or Property: Should I invest in more properties, or in a pension?

I do not have a pension but have a rental property (which breaks even). Question is, do I invest in more properties or take out a pension ? I am worried if I go down the pension route I would lose ...