Pensions/drawdown etc Pensions/drawdown etc - Page 3
Page 3 of 4 FirstFirst 1234 LastLast
Posts 21 to 30 of 35
  1. #21

    Default

    Take out £250K spend £50K per year on fun stuff, if you make it till sixty you are nearly deed anyhoo, so no need for a lot of cash after that

    Long time deed


    Sent from my iPhone using Contractor UK Forum

  2. #22

    Ddraig Goch


    Join Date
    Apr 2011
    Location
    Cymru
    Posts
    10,531

    Default

    so how big are everyones? pots
    Rhyddid i lofnod psychocandy!!!!

  3. #23

    My post count is Majestic

    northernladuk's Avatar
    Join Date
    Mar 2009
    Posts
    45,039

    Default

    Quote Originally Posted by psychocandy View Post
    so how big are everyones? pots
    What does that have to do with you?
    Last edited by northernladuk; 24th November 2020 at 14:47.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  4. #24

    Ddraig Goch


    Join Date
    Apr 2011
    Location
    Cymru
    Posts
    10,531

    Default

    Quote Originally Posted by northernladuk View Post
    What does that have to do with you?
    not forcing anyone to answer its not compulsory
    Rhyddid i lofnod psychocandy!!!!

  5. #25

    Contractor Among Contractors


    Join Date
    Jul 2019
    Posts
    1,782

    Default

    Quote Originally Posted by northernladuk View Post
    What does that have to do with you?
    Fair enough. Why don't you go first.

  6. #26

    More time posting than coding

    hugebrain's Avatar
    Join Date
    Jul 2005
    Posts
    451

    Default

    Quote Originally Posted by Fred Bloggs View Post
    Drawing the 25 per cent tax free does not trigger MPAA. Spend it on cocaine, hookers or daffodils. No difference.

    Draw down even 1p in income after taking the 25 per cent and you trigger the MPAA.
    Can you spend it more shares in a SIPP and get more free money from the government?

  7. #27

    Contractor Among Contractors


    Join Date
    Jul 2019
    Posts
    1,782

    Default

    Quote Originally Posted by hugebrain View Post
    Can you spend it more shares in a SIPP and get more free money from the government?
    You really should do your own research/reading - you'll learn a lot more than asking part questions here.

    Here's a starter (random selection after a google search):

    Three benefits of staggering your 25% tax-free pension lump sum

    Taking 25% Tax-free Cash from your Pension

    If I take a 25% tax free pension lump sum, can I still pay in GBP40k a year? | This is Money
    Last edited by Paralytic; 25th November 2020 at 16:28.

  8. #28

    Ddraig Goch


    Join Date
    Apr 2011
    Location
    Cymru
    Posts
    10,531

    Default

    Quote Originally Posted by Paralytic View Post
    Fair enough. Why don't you go first.
    HL SIPP - £125K
    EX-employer pension - £25K
    Current Umbrella pension - £42K
    NEST - £2

    Not brilliant....
    Rhyddid i lofnod psychocandy!!!!

  9. #29

    Default

    Quote Originally Posted by hugebrain View Post
    Can you spend it more shares in a SIPP and get more free money from the government?
    Assuming the MPAA is not triggered the answer is a qualified yes. The qualification bring that there are recycling rules that prevent a double dose of tax top up. It's complicated so you need to research this now you know what you look for.
    Public Service Posting by the BBC - Bloggs Bulls**t Corp.
    Officially CUK certified - Thick as f**k.

  10. #30

    Default

    Quote Originally Posted by psychocandy View Post
    HL SIPP - £125K
    EX-employer pension - £25K
    Current Umbrella pension - £42K
    NEST - £2

    Not brilliant....
    Plus 10k a year from gov


    Sent from my iPhone using Contractor UK Forum

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •