Pensions, Annuities & Retirement Planning

A question about : Pensions Planning: The NUMBER

The NUMBER is how much income you need to live comfortably
So What's your number?
Very important for pensions planning, to know what you are aiming for.

My Number? (for a couple)
I calculated: Ј22,000
based on
Food Ј5,000
Car/transport Ј5,000
Bills/Utilities Ј4,500
Holidays/Leisure Ј4,500
Clothing/Cash/Xmas/Other Ј2,000
Repairs/replacements Ј1,000

A question about : Can I cash in my pension?

Can I cash in my pension?

First, the background:

A pension scheme is a tax deferred savings vehicle that allows for the tax-free accumulation of a fund for retirement. Like many tax-free arrangements, they have legal rules attached to them. In the case of pensions, these rules firmly dictate the age, circumstances, and method by which the fund can be drawn. More specifically, these rules (with very few exceptions) mean that the fund cannot be drawn until age 55, and, even then, not entirely as cash.

A question about : SIPP, Hargreaves Lansdown and Funds

Hello,

I'm considering starting a pension as I've gone several years without one and really need to get going.

A question about : Public sector wellcome to the real world

What is happening today regarding Public Sector Pensions and contributions is what has already happened in the Private Sector.
Final salary Pensions are now gone forever!!!!!!! as much as we all dislike it.

2 years ago I went from a 5% Contribution 1/60th Final Salary scheme to a 10% Contribution 1/60th Career Average Pension.
This was non negotiable take it or leave it. So I guess the proposals put forward today are not so bad after all.

A question about : ISAs v Pensions: The Official Retirement Debate

Both ISAs and Pensions are tax-free wrappers you can use to invest or save money in to provide a return for your old age.
ISAs In a nutshell you put money in ISAs from your after tax salary, and the returns aren't taxed (very much in a nutshell, its more complex than that, see the ISA guide)

A question about : RPI to CPI Early Day Motion 1032

All, Regarding the Government changing indexing for pensions from RPI to the lesser CPI, you all may like to know that there is an Early Day Motion 1032 (EDM) in the house of commons to delay implimentation of this change until a full assessment has been made of the impact. There is also now a new EDM 1625 that requires your further support and for you all to ask your MP's to sign both EDM's

Wording of EDM 1032 and EDM 1625 is given at the bottom of this post

A question about : Public Sector Pension Strikes – A JOKE !

A question about : Early-retirement wannabe

I would like to create a topic (don't see it at the moment - other than the NUMBER thread).

Who is aiming for early retirement (or who has retired early already)?
When did you begin planning and what drove the decision?
What is the strategy for getting there?
How much of a relative decline in income are you prepared to take / did you take?
What are your main concerns?
For those already in early retirement - how is it progressing? What have been the good and bad surprises (financial and otherwise)?