Pension 25% Cash Free Lump Sum .... Last chance saloon?

[Protagoras]

My pension not doing great, returns are low....thinking to withdraw the 25% and invest it elsewhere? any thoughts? Just at age now where I can take it out and returns are not great when I look at the year on year statement...

If you take 25% tax free and invest it, the return will be even lower if you're a tax payer.

[Protagoras]

Not withstanding the source, the rumours persist. https://www.dailymail.co.uk/news/art...et-Labour.html

Charging 13.8% NI on ER pension contribution is a huge burden. Keeping the same level of pension contributions it would in theory reduce my gross salary by over £10k p.a.!!

[jamesbrown]

Not withstanding the source, the rumours persist. https://www.dailymail.co.uk/news/art...et-Labour.html

Charging 13.8% NI on ER pension contribution is a huge burden. Keeping the same level of pension contributions it would in theory reduce my gross salary by over £10k p.a.!!

As rumours go, it's a pretty solid one if they are leaking nuances of the policy, such as exempting public sector employers (or, rather, refunding them). Main question is whether they charge the full 13.8% or a reduced rate, but probably the full rate. (Reported by The Times and others too.)

[Cookielove]

Oh gosh this is getting worse and worse....if I was younger I'd get out of the UK it is atrocious! This is a big burden if it is true and it is looking very likely.

Who let these numpties in to govt....they are not for the person that tries to get ahead and works hard ...

[Cookielove]

This is getting more and more depressing if rumours to be believed...no outside roles so most now via umbrellas if a job can be found which is difficult at the moment!

Er NI likely to increase so we will be hit by this via an Umbrella as we pay both the Er and Ee NI...then to top it off NI on ER pensions....that is a double hit...robbery!!

[WTFH]

This is getting more and more depressing if rumours to be believed...no outside roles so most now via umbrellas if a job can be found which is difficult at the moment!

Er NI likely to increase so we will be hit by this via an Umbrella as we pay both the Er and Ee NI...then to top it off NI on ER pensions....that is a double hit...robbery!!

It's getting so bad that many people are predicting an upturn in contracting, due to employers not wanting to pay the extra.

Take your pick.

[SussexSeagull]

It's getting so bad that many people are predicting an upturn in contracting, due to employers not wanting to pay the extra.

Take your pick.

When one door shuts....

[WTFH]

When one door shuts....

...smart contractors adapt.

It would be nice to see an upturn in the market, it's been fairly quiet for the last 4 years

[Protagoras]

...smart contractors adapt.

The obvious adaption options being
- retire
- emigrate
- reduce working hours and SalSac amount
- find a full-time public sector job!

[WTFH]

The obvious adaption options being
- retire
- emigrate
- reduce working hours and SalSac amount
- find a full-time public sector job!

If that is how limited your list is, then it says how smart you are - an upturn in the market and you want to get out.