New Posts For Thread: Pensions, Advice pleasehttps://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-pleaseAnyone have a clue? I know you can draw 25% of your pot tax free, and the rest you pay 20% tax, what is to stop you drawing 25% four times in a short space of time to avoid paying the 20%?I'm 55 now & reckon I've got another 10 years of working @ least, unless I view my house as part of my pension plans & downsize, but me and the wife are happy where we are and I always viewed moving as, "if we want to" not because we have to.https://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555409409#555409409I'm 55 now & reckon I've got another 10 years of working @ least, unless I view my house as part of my pension plans & downsize, but me and the wife are happy where we are and I always viewed moving as, "if we want to" not because we have to.Tue, 28 Aug 2018 09:55:20 -0500one might think not been able to get your sticky itchy fingers on your pot till your 55 is a positive not a negative, no dipping in for a fortnight in Ibiza etchttps://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555354719#555354719one might think not been able to get your sticky itchy fingers on your pot till your 55 is a positive not a negative, no dipping in for a fortnight in Ibiza etcWed, 22 Aug 2018 12:09:06 -0500Doubt he'd make 50https://www.joe.co.uk/entertainment/super-hans-quotes-peep-show-110691https://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555354709#555354709Doubt he'd make 50https://www.joe.co.uk/entertainment/super-hans-quotes-peep-show-110691Wed, 22 Aug 2018 12:08:11 -0500I'd have thought the Super Hans lifestyle would achieve a similar result!https://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555354417#555354417I'd have thought the Super Hans lifestyle would achieve a similar result!Wed, 22 Aug 2018 11:44:39 -0500https://www.moneyadviceservice.org.uk/en/tools/pension-calculatorJust had a go at thisTime to start the Georgie Best lifestyle so I don't make 65....https://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555354181#555354181https://www.moneyadviceservice.org.uk/en/tools/pension-calculatorJust had a go at thisTime to start the Georgie Best lifestyle so I don't make 65....Wed, 22 Aug 2018 11:11:10 -0500One thing, being self employed, wish I'd started putting some away at an earlier agehttps://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555353843#555353843One thing, being self employed, wish I'd started putting some away at an earlier ageWed, 22 Aug 2018 10:37:39 -0500In a pension fund, growth is typically re-invested, so you're earning growth/dividends on an amount that would have otherwise gone to the tax man (the compounding effect). Plus of course when the pension can be accessed, under current legislation 25%https://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555353763#555353763In a pension fund, growth is typically re-invested, so you're earning growth/dividends on an amount that would have otherwise gone to the tax man (the compounding effect). Plus of course when the pension can be accessed, under current legislation 25%Wed, 22 Aug 2018 10:30:33 -0500if your getting a free £20 or £40 in every £100 invested for say 40 years and you don't think its a better investment than elsewhere surely you should be putting nothing into a pension, as you say up to 12 grandish a year your stii paying no taxifhttps://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555352141#555352141if your getting a free £20 or £40 in every £100 invested for say 40 years and you don't think its a better investment than elsewhere surely you should be putting nothing into a pension, as you say up to 12 grandish a year your stii paying no taxifWed, 22 Aug 2018 07:45:44 -0500ISAs and pensions are taxwise basically repirocals of each other.One you are taxed first but not when you take out (ISA)One you are not taxed upfront but taxed when you take out (Pension).But a pension you may also be able to avoid NI, which an ISA dhttps://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555351973#555351973ISAs and pensions are taxwise basically repirocals of each other.One you are taxed first but not when you take out (ISA)One you are not taxed upfront but taxed when you take out (Pension).But a pension you may also be able to avoid NI, which an ISA dWed, 22 Aug 2018 07:17:25 -0500if you decide long term pension investment is the way forward, getting tax relief on the way in and that tax relief been invested in sed pension is hardly swings and roundabouts as compared to paying tax on the way out,imohttps://community.betfair.com/chit_chat/go/thread/view/94038/31439799/pensions-advice-please?post_id=555351785#555351785if you decide long term pension investment is the way forward, getting tax relief on the way in and that tax relief been invested in sed pension is hardly swings and roundabouts as compared to paying tax on the way out,imoWed, 22 Aug 2018 06:25:34 -0500