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Welcome to the new B.I.R.D. Forum. Please be sure to read the "New Member / New Registered ? Please Read" thread in the Coffee Shop. This contains some important information. To become a full member ( £5.90 a year ) simply click on your user name near the top on the right I hope you enjoy the new site ................ Jaws ( John )
Interesting pension pot
- Thread starter Minkey
- Start date
Professional advice every time on this one.
I know the answer but PowLo says I mustn't say anything.
Professional advice every time on this one.
I know the answer but PowLo says I mustn't say anything.
But still you have to.
Why are you posting on this thread then??
Why are you?
Show me where I said you “...mustn’t say anything”, Bum Face!
It’s not that people are unwilling to help but something like pensions needs expert professional advice. Some on here can write about brakes, engines, tyres and general bike stuff from experience. I can’t cos I’m a shite rider, but some can. However, pensions, and some finance stuff in general, can be a minefield. That’s why I suggested talking to Bill because he sold pensions for a living. I suppose Beaker could as well having been a banker.
Put it another way, if you wanted advice on how best to save for your future, would you listen to someone on here who says “my mate once said....”? I wouldn’t.
Bankers have the sole purpose of making money for the bank that employs them.
I'd rather have Centaur telling me to fook off and stick it in a small sock under my bed than take fiscal advice ftom a banker.
I'd rather have Centaur telling me to fook off and stick it in a small sock under my bed than take fiscal advice ftom a banker.
Feel free to ignore this banker's advice to take professional advice on pensions.........
Don't miss the opportunity to ignore the one time he is actually 100% right.Feel free to ignore this banker's advice to take professional advice on pensions.........
noobie
Clueless in most things
I understand what you are saying pow but the questions being asked are for general information share and not the indepth interview of an individual pension plan for the future which most would go to a professional for
When I received my inheritance after my dad died I received an invitation from The Halifax to go & speak to an independent financial advisor, funny how this independent advisor’s Office was upstairs in the Halifax building & all his recommendations were linked to the Halifax.
Same thing happened with TSB when I got my lump sum.
Same thing happened with TSB when I got my lump sum.
OK, I'll put my head above the parapet - with the aim of assisting the OP.
The pension rules state that you can, after age 55 and if it's a defined benefits scheme (one in which you and/or your employer have invested cash - as opposed to a final salary scheme), take up to 25% tax-free on your combined pensions (called your pension pot). There are some exceptions to this, as well as some older pension plans which allow greater than 25% to be taken. You can also mix and match, so taking a tax-free lump sum from one and leaving the others.
This is only general advice: it changes from person to person and pension to pension. Moneyadviceservice.org.uk or similar will give you some further information but FOR ACCURATE and RELEVANT (in capitals to assuage some keyboard warriors) advice use a Independent financial advisor.
Do not buy a bike, change your brake pads or swap oils using this post.
The pension rules state that you can, after age 55 and if it's a defined benefits scheme (one in which you and/or your employer have invested cash - as opposed to a final salary scheme), take up to 25% tax-free on your combined pensions (called your pension pot). There are some exceptions to this, as well as some older pension plans which allow greater than 25% to be taken. You can also mix and match, so taking a tax-free lump sum from one and leaving the others.
This is only general advice: it changes from person to person and pension to pension. Moneyadviceservice.org.uk or similar will give you some further information but FOR ACCURATE and RELEVANT (in capitals to assuage some keyboard warriors) advice use a Independent financial advisor.
Do not buy a bike, change your brake pads or swap oils using this post.
The problem being that there is more than one type of pension scheme.
A,friend of mine retired with five separate schemes from five different jobs, all required to be looked at individually to understand what he could and couldn't do.
Well worth the 2% paid to advisor to sort it out. Even if my pal didn't listen to him!!
How can you mark my post ‘disagree’ when I’ve called you out by asking a question you know you can’t answer? It’s a question, not a statement.Feel free to ignore this banker's advice to take professional advice on pensions.........
Yet again, you demonstrate your inability to intelligently close out an argument or discussion logically.
You nob.
Fact.