tag:blogger.com,1999:blog-2875915890415125655.post5464367426180962878..comments2023-05-18T10:37:34.608+01:00Comments on <a href="http://www.retirementinvestingtoday.com">Retirement Investing Today</a>: Look after the pennies...RetirementInvestingTodayhttp://www.blogger.com/profile/03088383743670046657noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-2875915890415125655.post-72609043251955015952017-12-12T10:50:31.199+00:002017-12-12T10:50:31.199+00:00£45 for ISA with HL and £200 for SIPP with HL. I a...£45 for ISA with HL and £200 for SIPP with HL. I am not sure how you are getting SIPP free with HL provided your assets are more than £45k. (Invest only in shares/etfs/IT)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-37755984020343093682017-11-03T22:40:22.270+00:002017-11-03T22:40:22.270+00:00For anyone else reading, the FA is going to move t...For anyone else reading, the FA is going to move the fund into the commission-free equivalent free of charge because I hadn't actually signed anything with that additional 0.5%. The FA had phoned in to request it in addition to the up-front fees without my knowledge!!<br /><br />Saves me nearly £50,000 in charges over the lifetime of the pension... sneaky b@tards...Andrew Knoxnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-90855097815526617392017-10-16T13:24:03.578+01:002017-10-16T13:24:03.578+01:00Warning ! After pressure from other E.U. governmen...Warning ! After pressure from other E.U. governments Portugal is in the throes of radically altering the 10 year no tax rule on pensions,please do your homework before making any decisions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-38973071260738826322017-10-10T20:40:01.512+01:002017-10-10T20:40:01.512+01:00Not uncommon in financial services. Share purchase...Not uncommon in financial services. Share purchase plans paid for from gross pay. Ir maybe HMRC is making it up too? ��<br /><br />For some there are several things in offer am that you can almost attempt to treat your salary as a Comoany director might. I see very little of my gross pay..I live from assets...but of course that is because I intend to access my pensions and shares when j give up Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-59303104247402019222017-10-09T18:22:33.182+01:002017-10-09T18:22:33.182+01:00Decided to double-check my pension charges after r...Decided to double-check my pension charges after reading your post and got a bit of a surprise. It seems I've been paying an additional 0.5% commission that goes back to the Financial Advisory company that set the pension up with Scottish Life (now Royal London) in 2011.<br /><br />And because it's "pre-RDR", I'm locked in as it's apparently written into a contract. OnlyAndrew Knoxnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-26082645790624056042017-10-09T11:25:50.472+01:002017-10-09T11:25:50.472+01:00Hi RIT
I'm not sure if you've explained t...Hi RIT<br /><br />I'm not sure if you've explained this anywhere before, but do you salary sacrifice down to a fixed lower salary for the whole year, or do you take a high salary for 6 months and then get paid the minimum wage for 6 months for example? The reason I ask is that employee's national insurance is calculated on a weekly basis, so the 12% band up to the UEL of £866 per weekDavidnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-78068334514848257092017-10-08T22:39:12.841+01:002017-10-08T22:39:12.841+01:00I recently transferred L&G stakeholder (1pc fe...I recently transferred L&G stakeholder (1pc fee pa) into the HL SIPP, got the loyalty bonus and now saving over £200 per year. <br /><br />I just upped the SAYE - lets you buy shares for 80pc of current price provided you save for 3 years. And we have a share match scheme that comes out of pre-tax earnings which I maxed out.<br /><br />In the workplace scheme I've always paid Prospectorhttps://www.blogger.com/profile/00908257772380515160noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-20042841256483663052017-10-08T16:43:23.283+01:002017-10-08T16:43:23.283+01:00You get a reduced rate if it's over 50k so no ...You get a reduced rate if it's over 50k so no point paying more than I need toFatbritabroadhttps://www.blogger.com/profile/06871826178428980655noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-88979786183864809752017-10-08T14:02:33.728+01:002017-10-08T14:02:33.728+01:00That's a good ideaThat's a good idea Fatbritabroadhttps://www.blogger.com/profile/06871826178428980655noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-33245665153703348232017-10-08T12:59:53.047+01:002017-10-08T12:59:53.047+01:00My strategy is just to take advantage of what my n...My strategy is just to take advantage of what my new country offers. For example (and of course I'm not a tax advisor):<br />- Cyprus. If you're a non-domicile of Cyprus (which I'll be) I'll pay no tax on dividends or interest for the first 17 years of residency. Also only CGT only on immovable property in Cyprus (with some allowances).<br />- Portugal. Readers have previouslyRetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-12089396758907719092017-10-08T12:53:20.154+01:002017-10-08T12:53:20.154+01:00I've never done the current account that pays ...I've never done the current account that pays 1,234% interest on amounts between £27 and £32 provided you turn the light switch in the bathroom on 4 times every Monday thing. I've always thought of them as unethical in that they're trying to pull in the punters with the headline rate while then planning to give nothing of substance in return. Might be worth another look.RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-82885095538402601232017-10-08T12:49:35.791+01:002017-10-08T12:49:35.791+01:00Why do you need to keep £50k in the pension? When...Why do you need to keep £50k in the pension? When I first looked at partial transfers the 'expensive insurance company' 'pension advisor' made it all seem difficult and complex. That included difficulty in finding their transfer forms. It was of course nothing of the sort with me having to actually do nothing with my current work provider and HL doing everything.RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-72509653643883832512017-10-08T12:46:24.976+01:002017-10-08T12:46:24.976+01:00Thanks for sharing the extra detail Fatbritabroad....Thanks for sharing the extra detail Fatbritabroad. Sounds like you have the non-pension savings in hand. Just one thought. Of course I don't have all the detail but in a 2 year period it sounds like your bonuses might exceed the ISA allowance for each of those years meaning you'll end up with some non-tax efficient investments until you can stash it into ISA's in future years. On RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-81999094571656890602017-10-08T10:47:24.869+01:002017-10-08T10:47:24.869+01:00I see S&S ISAs mentioned, which I use and max ...I see S&S ISAs mentioned, which I use and max the allowance every year. But there is a problem in that once I move abroad to my target destination, I lose all the tax free benefits, not to mention I may not even be legally allowed to maintain the account. At that point I'll have to find a replacement. What is the strategy here taken by other folk?mwpthttps://www.blogger.com/profile/00130860121960338694noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-39204200557935144282017-10-08T10:14:01.717+01:002017-10-08T10:14:01.717+01:000.65% even! 0.65% even! Fatbritabroadhttps://www.blogger.com/profile/06871826178428980655noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-65995561324056996072017-10-08T10:07:45.880+01:002017-10-08T10:07:45.880+01:00Don't work for an insurance brokers do you? We...Don't work for an insurance brokers do you? We've got that pre tax share offer at ours I'd never seen them before we were bought by an American insurance brokers. I just thought buying shares at a 40% discount was too good to miss and only 90 a month post tax income at risk so worth it imo Fatbritabroadhttps://www.blogger.com/profile/06871826178428980655noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-2834713417002632092017-10-08T10:03:13.213+01:002017-10-08T10:03:13.213+01:00I've just looked at my pension and it's. 6...I've just looked at my pension and it's. 65% I Nedd to keep over 50k in it so maybe it is worth transferring someFatbritabroadhttps://www.blogger.com/profile/06871826178428980655noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-77897560918376842522017-10-08T10:01:47.947+01:002017-10-08T10:01:47.947+01:00That brings me great comfort as I look at your num...That brings me great comfort as I look at your numbers in awe but I guess like you say time is on my side. As am example I had 56k k saved 5 years ago so Yes with hindsight the gains plus stashing about 15k a year is having a marked effect. I've always taken the view ill stash pensions while I don't have kids in the knowledge I'll probably have to reduce the level of contributions (Fatbritabroadhttps://www.blogger.com/profile/06871826178428980655noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-9429170270767588282017-10-07T20:17:34.152+01:002017-10-07T20:17:34.152+01:00Edit. Give up work next year...not last year. Edit. Give up work next year...not last year. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-8075119807030318112017-10-07T20:14:38.269+01:002017-10-07T20:14:38.269+01:00Free money - yes that has been a priority for me. ...Free money - yes that has been a priority for me. 3 sharesaves, another scheme that buys company shares deducted before tax and NI (have to then be held for 5 years so no risk free) and then pension contributions and now AVCs. <br />Others at work say they can't afford the pension never mind the rest (a mix of people really)....some late 50's and bought their houses whilst I was at schoolAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-86170669615301573402017-10-07T20:01:33.331+01:002017-10-07T20:01:33.331+01:00@Willy - you mention higher rate taxpayers being b...@Willy - you mention higher rate taxpayers being basic rate payers in retirement and the 25% TFLS;<br />@Borderer - you mention rule changes for which the government have good form; and<br />@vicarage - you mention the LTA and being able to pop money in and out<br /><br />The points you highlight make Cyprus an attractive destination for me. There you get 2 options when it comes to your pension:RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-16715405518468224462017-10-07T19:36:57.301+01:002017-10-07T19:36:57.301+01:00The current HL SIPP transfer offer is:
£5,000-£24,...The current HL SIPP transfer offer is:<br />£5,000-£24,999, £20<br />£25,000-£49,999, £50<br />£50,000-£99,999, £100<br />£100,000-£149,999, £250<br />£150,000+, £500<br /><br />£500 is a lot of money but being out of the market for a reasonably long time could cost you a lot more (it could save you a lot as well of course). That's why I like the electronic transfer method as from what I canRetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-89150484922448095952017-10-07T19:32:01.875+01:002017-10-07T19:32:01.875+01:00Nice work on stashing £120k into a pension by age ...Nice work on stashing £120k into a pension by age 36. In comparison on my 36th birthday I had £58k within pension wrappers. So you're a long way ahead of me.<br /><br />Are you looking to build that S&S ISA amount fairly rapidly? <br /> I ask for a few reasons:<br />- Pensions are ripe for government tinkering and they have form. Does your 55 plan work if/when the government move the RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-39566561114143822672017-10-07T18:22:20.051+01:002017-10-07T18:22:20.051+01:00I agree about SS, but the £1m lifetime allowance a...I agree about SS, but the £1m lifetime allowance argues against pensions, while being IHT exempt (which I think is daft) argues in favour. Being able to pop money in and out of an ISA, to bridge a house move, is also attractive.vicaragehttps://www.blogger.com/profile/13615013686081830604noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-24760640547013847242017-10-07T17:29:44.595+01:002017-10-07T17:29:44.595+01:00@Willy - unless, of course, the Government changes...@Willy - unless, of course, the Government changes the rules!Bordererhttps://www.blogger.com/profile/08968811078766465187noreply@blogger.com