tag:blogger.com,1999:blog-2875915890415125655.post6557074939060358978..comments2023-05-18T10:37:34.608+01:00Comments on <a href="http://www.retirementinvestingtoday.com">Retirement Investing Today</a>: Navigating the Never Ending Changes to PensionsRetirementInvestingTodayhttp://www.blogger.com/profile/03088383743670046657noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-2875915890415125655.post-21552624384006515492016-01-31T18:50:39.201+00:002016-01-31T18:50:39.201+00:00Hi RIT,
Do you ever consider potential changes to...Hi RIT,<br /><br />Do you ever consider potential changes to the taxation of pension withdrawals in your choice of destinations, in the future? <br /><br />mwptmwpthttps://www.blogger.com/profile/00130860121960338694noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-66404387570410705732016-01-31T11:01:30.486+00:002016-01-31T11:01:30.486+00:00The cynic in me thinks this is all an attempt to f...The cynic in me thinks this is all an attempt to force ever more money into the property market, via third party corporations.RevalidationCramhttps://www.blogger.com/profile/16763173292591052631noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-74004131300420473822016-01-29T14:00:04.202+00:002016-01-29T14:00:04.202+00:00This is nothing to do with the above - but I thoug...This is nothing to do with the above - but I thought you might<br />find this of interest at some point.<br /><br />A Better Approach to Measuring Aggregate Geographic Risk - 28/1/2016 Fact Set. Have a look.stringvestnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-4816929940681758382016-01-26T14:58:18.386+00:002016-01-26T14:58:18.386+00:00Quite right, pfd. You'll also hate the LTA fo...Quite right, pfd. You'll also hate the LTA for ISAs when it's introduced, though the greater flexibility of ISAs would make it less onerous.deariemenoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-80944121444102245322016-01-26T13:26:03.255+00:002016-01-26T13:26:03.255+00:00I hate the LTA more than anything else the governm...I hate the LTA more than anything else the government has done. I would much rather a lower limit of contributions if that is what they want as at least I can plan for that but to tax my returns at a penal rate if I make great investment decisions really makes me cross. pfdnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-33586713009373798352016-01-25T21:57:50.016+00:002016-01-25T21:57:50.016+00:00The reduction in the LTA allowance has been stagge...The reduction in the LTA allowance has been staggeringly quick, with a really aggressive tax charge if you go over it. I suspect quite a few of us will get stung by it. A wealth tax on top of an income tax, how very oppressive!<br /><br />That's been offset by an almost as staggering increase (although not to the same magnitude) in the annual ISA allowance over the last few years. <br /><Anonymoushttps://www.blogger.com/profile/18300941962780673623noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-47142185493163556762016-01-25T09:32:57.252+00:002016-01-25T09:32:57.252+00:00If your plan is to use this year's allowance n...If your plan is to use this year's allowance next year then you will probably get flat rate relief. You could end up getting 25% instead of 47%.Jdhttps://www.blogger.com/profile/17049872043697302100noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-84310021842649140742016-01-24T10:19:36.205+00:002016-01-24T10:19:36.205+00:00Thanks both. I'll be 55 in March 2028 so in ei...Thanks both. I'll be 55 in March 2028 so in either scenario, I still don't know my private pension age! If it's a step change to 57 on 5th April 2028 then I'm good. If the change occurs on 1st Jan 2028 then it'll push my date to 2030. If it's a transitional change 10 years behind the SPA schedule then that'll be 2030 (or 2031?)<br /><br />So hopefully it'll be 5th Geoffnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-24732672956309774422016-01-24T09:49:15.238+00:002016-01-24T09:49:15.238+00:00Thanks for challenging here Geoff and thanks for j...Thanks for challenging here Geoff and thanks for jumping in John. It's right to challenge all points as it will make sure we have the latest and most correct information.<br /><br />It does however demonstrate nicely that the pension rules are about as clear as mud. If 3 people who are actively interested in this stuff are scratching their heads what chance does the average wo/man on the RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-16512381882645067042016-01-24T09:38:55.998+00:002016-01-24T09:38:55.998+00:00It will be interesting to see how that plays out. ...It will be interesting to see how that plays out. I too salary sacrifice heavily. This of course saves me the tax + employees NI contributions but additionally my employer gives me 10% of the 13.8% employer NI that they save. Every little helps...RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-68156577364028522192016-01-24T08:20:00.811+00:002016-01-24T08:20:00.811+00:00Thanks John, that sounds more hopeful. I wish they...Thanks John, that sounds more hopeful. I wish they'd legislate one way or the other so we'd know for sure and can plan accordingly.Geoffnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-51554577428518850912016-01-23T23:03:05.238+00:002016-01-23T23:03:05.238+00:00The uncertainty is to whether the access age is 10...The uncertainty is to whether the access age is 10 years below your projected state pension age, or 10 years below the age currently in force. The consultation document has a footnote about transitional changes starting before 2028, but that is omitted in the response to the consultation, https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/332714/pensions_response_online.pdfJohn Bhttps://www.blogger.com/profile/10530034666593178946noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-82964713839240025252016-01-23T21:29:52.235+00:002016-01-23T21:29:52.235+00:00Hi RIT,
Thanks for the site, it's very inspir...Hi RIT,<br /><br />Thanks for the site, it's very inspirational! I think your dates are wrong in this article though. If you are aged 43 now, you will not be able to take your DC pension until at least age 57.<br /><br />In this paper:<br /><br />https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/294795/freedom_and_choice_in_pensions_web_210314.pdf<br /><br />it states Geoffnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-26564799388733253932016-01-23T16:48:21.762+00:002016-01-23T16:48:21.762+00:00I wonder what will happen about salary sacrifice. ...I wonder what will happen about salary sacrifice. I negotiated with my employer to pay me minimum wage and put the rest into a pension, converting a modest wage into a huge pension contribution, and avoiding the higher NI contributions at lower levels. But this makes my nominal rate of relief unclear. If flat rate relief comes in, I guess salary sacrifice must go, and I'll need to renegotiateJohn Bhttps://www.blogger.com/profile/10530034666593178946noreply@blogger.com