Money to the Masses - Live Pension Q&A
637 بار بازدید -
4 سال پیش
-
A replay of our live
A replay of our live Pension Q&A with Damien Fahy of Money to the Masses and Romi Savova, CEO of PensionBee.
0:00 - Intro to our live Q&A with Damien Fahy and Romi Savova
4:06 - I’m due to take a pension and will have the option of a £100k lump sum. I don’t want an income from this and want to keep it near to inflation-proof as I can but taking no risks. There are some fixed notice bonds of about 1.5% available - but what else could I do with this while taking no to minimal (don’t want to lose more than 5% over 5 years) risk?
7:37 - If I take 25% tax free lump sum can I leave the other 75% untouched in the pension fund? If I have to start drawing the rest how long can I wait and what is the minimum I can take?
10:03 - I transferred my DB pension worth 500k to a drawdown scheme (now down 20% since the start of the COV-19 pandemic). I am 57 and still employed. I have enough savings to last 2 years before I want to retire. I need £20k per year. In light of what has happened, do I need to change risk level to achieve the income?
15:06 - I have a private pension currently invested in various bonds/gilts and funds. When I reach 55 I have access to this pension - later this year. I intend to leave the pension invested and go into drawdown. If I want to access the 25% tax free portion what are my options?
18:50 - If we follow the best in class pension contributions from around the world. Is 15% of my pre tax salary roughly correct?
20:39 - I am 59 and still working and contributing to a company pension, group personal pension. If I take out my allowance of 25%, what is the maximum amount that I can contribute tax free going forward? My salary is £85k.
22:10 - I work for the council and pay 6% into my pension which is matched, any more is not matched. Is it worth paying extra in, or looking for an additional private pension (or an S&S ISA)?
24:01 - I’m due to take a pension and have the option of a £100k lump sum. I don’t want an income from this and want to keep it to near inflation-proof without taking risks. What else could I do with it without taking no to minimal risk?
27:17 - I have a final salary pension and am a few years away from retirement, I want to leave 50% of it to my son and daughter as part of their inheritance. What is the best way to do this as I’m aware there are implications if I die before or after 75?
29:26 - I’m retiring in a couple of years. Money purchase pension fund and have seen the value drop significantly recently. Charges are 1.36% for the fund manager and 0.5% for the ongoing advice fee. Should I switch to something cheaper like a tracker or ETF while the markets hopefully rise?
33:35 - I overpaid inadvertently last year, a couple of hundred pounds more than I earn as I miscalculated the tax free bit being added. What happens? Will I lose out or get chased by HMRC?
Money Purchase Annual Allowance (MPAA) explained - https://www.moneyadviceservice.org.uk...
Also what happened if you accidentally pay more into a pension than your annual allowance - https://www.pensionsadvisoryservice.o...
35:00 - If someone exceeds their lifetime limit, is it a problem immediately, or only when you start accessing?
36:20 - What can be done to protect ourselves from pension scams?
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Follow Money to the Masses on social media:
Website - https://moneytothemasses.com/
Facebook - Facebook: moneytothemasses
Instagram - Instagram: moneytothemasses
Twitter - Twitter: money2themasses
#pensions #personalfinance
0:00 - Intro to our live Q&A with Damien Fahy and Romi Savova
4:06 - I’m due to take a pension and will have the option of a £100k lump sum. I don’t want an income from this and want to keep it near to inflation-proof as I can but taking no risks. There are some fixed notice bonds of about 1.5% available - but what else could I do with this while taking no to minimal (don’t want to lose more than 5% over 5 years) risk?
7:37 - If I take 25% tax free lump sum can I leave the other 75% untouched in the pension fund? If I have to start drawing the rest how long can I wait and what is the minimum I can take?
10:03 - I transferred my DB pension worth 500k to a drawdown scheme (now down 20% since the start of the COV-19 pandemic). I am 57 and still employed. I have enough savings to last 2 years before I want to retire. I need £20k per year. In light of what has happened, do I need to change risk level to achieve the income?
15:06 - I have a private pension currently invested in various bonds/gilts and funds. When I reach 55 I have access to this pension - later this year. I intend to leave the pension invested and go into drawdown. If I want to access the 25% tax free portion what are my options?
18:50 - If we follow the best in class pension contributions from around the world. Is 15% of my pre tax salary roughly correct?
20:39 - I am 59 and still working and contributing to a company pension, group personal pension. If I take out my allowance of 25%, what is the maximum amount that I can contribute tax free going forward? My salary is £85k.
22:10 - I work for the council and pay 6% into my pension which is matched, any more is not matched. Is it worth paying extra in, or looking for an additional private pension (or an S&S ISA)?
24:01 - I’m due to take a pension and have the option of a £100k lump sum. I don’t want an income from this and want to keep it to near inflation-proof without taking risks. What else could I do with it without taking no to minimal risk?
27:17 - I have a final salary pension and am a few years away from retirement, I want to leave 50% of it to my son and daughter as part of their inheritance. What is the best way to do this as I’m aware there are implications if I die before or after 75?
29:26 - I’m retiring in a couple of years. Money purchase pension fund and have seen the value drop significantly recently. Charges are 1.36% for the fund manager and 0.5% for the ongoing advice fee. Should I switch to something cheaper like a tracker or ETF while the markets hopefully rise?
33:35 - I overpaid inadvertently last year, a couple of hundred pounds more than I earn as I miscalculated the tax free bit being added. What happens? Will I lose out or get chased by HMRC?
Money Purchase Annual Allowance (MPAA) explained - https://www.moneyadviceservice.org.uk...
Also what happened if you accidentally pay more into a pension than your annual allowance - https://www.pensionsadvisoryservice.o...
35:00 - If someone exceeds their lifetime limit, is it a problem immediately, or only when you start accessing?
36:20 - What can be done to protect ourselves from pension scams?
---------------------------------------------------------------------------
Follow Money to the Masses on social media:
Website - https://moneytothemasses.com/
Facebook - Facebook: moneytothemasses
Instagram - Instagram: moneytothemasses
Twitter - Twitter: money2themasses
#pensions #personalfinance
4 سال پیش
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است.
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