Search results

Thanks !!

I've a question. Currently if my pension pot company goes bust my pension funds are fairly well protected. If I move them into flexible drawdown are they as well protected as before or would they get swallowed up by the bust company ?

Any state pension age change decisions have been delayed until ( up to 2 years ) after the next General Election. 10 years notice will be given about any change in date.

I'm pretty certain any change would be too complicated to implement "overnight" but it has been something I've been worrying about and researching a lot.

Today's the day. Let's see how the retirement landscape changes. I'm praying he has to give notice of increasing the Normal Minimum Pension Age from 55 before 2028 - surely the pension companies would need time to implement any changes. Hopefully my summer isn't ruined. Beyond that they've...

Unless Mr Hunt ( or a following Chancellor) changes it, it is 55 now and goes up to 57 in 2028.

Indeed. It'd be interesting to see how big a pension pot someone would need to match the pension of a long serving teacher. Pretty big I reckon. My mother gets £15K per year from her teachers pension ( she gets state pension as well ). With the 4% per year drawdown suggestion the equivalent...

Probably best wait to see what Mr Hunt says tomorrow.

Can't wait for this tbh. Not long now.

A more interesting take away from that article for me is that MPAA is set to be raised from £4K per year to £10K per year. This means taking taxable drawdown doesn't stuff paying into a pension again in the future quite so much. A nice incentive for some who have already taken drawdown to...

Wrong thread

Good news. I actually wonder how much the 35 years requirement is set in stone for eternity. Surely Hunt isn't planning to up it to 37, 38 or even 40 years for some of those still working ?

12 days until the budget and I'm getting really worried about how much meddling Hunt will do with pension drawdown rules ( I think anything here will be longer term and not in the next year - in which case I'll be alright, Jack ), and state retirement age ( I think there's a reasonable chance...

This is one of my favourite threads on NSC. My retirement date is any time up to 12 years away - and it won't be beyond that. It's all about boosting my pension pot for now - but if a redundancy comes my way, the stress and misery of job interviews may well be a "pleasure" I decline in favour...

My mother just got the confirmation of her ~10% state pension rise from April. Of course this also becomes part of future pensions so is a nice rise for us all in the future. Just 2.5 weeks until Mr Hunt may well tell me that my state retirement age will go up to 68 though ( don't do it...

It's looking like that will change on March 15th, and not in a good way. The trial balloon is that for me it'll be changing from 67 to 68, although reports are confused and "nothing has been decided yet". Work til you drop, peasants !

March 15th is the spring budget when Jeremy 'Unt will tinker with the state retirement age. He won't be altering it in our favour. :nono:

Also worth posting a warning about companies which claim they can get you your pension before 55. Unlikely to be deemed within the rules and you'll be the one with the eventual hefty tax bill, or worse if it's one of the really dodgy scams.

The trouble with the monthly drawdown ( on a direct contribution pension ) is that it triggers MPAA which you'll be stuck with for the rest of your life. It doesn't get turned off. Only an issue if you are still paying into a pension ( or will do at some point ) though - it's a £4000 annual...

Under 8 months to wait now until my Lump Sum drawdown hits my bank account. Can't wait. Bread and Water and little fun until then, but a holiday once the cash is in seems a good idea.