Originally posted by basshead
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Pensions vs standard saving accounts.
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Originally posted by zeitghostIt's the annuity that does that, the pension fund is just a pot of money before you purchase that...
The annuity one from Norwich states that TAX will be deductive.
http://www.norwichunion.com/annuities/index.htm#tableComment
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Originally posted by Likely View PostSo there are 2 types of pensions ? Savings-account-like-one-that-also-saves-taxes AND another one - an Annuity one which pays until you are dead.
The annuity one from Norwich states that TAX will be deductive.
http://www.norwichunion.com/annuities/index.htm#tableComment
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Originally posted by Likely View PostSo there are 2 types of pensions ? Savings-account-like-one-that-also-saves-taxes AND another one - an Annuity one which pays until you are dead.
The annuity one from Norwich states that TAX will be deductive.
http://www.norwichunion.com/annuities/index.htm#table
It's important you understand all the subtle points about pensions, investments, savings.Comment
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Originally posted by Likely View PostSo there are 2 types of pensions ? Savings-account-like-one-that-also-saves-taxes AND another one - an Annuity one which pays until you are dead.
The annuity one from Norwich states that TAX will be deductive.It's about time I changed this sig...Comment
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Originally posted by DimPrawn View PostMate, I think you need to book an appointment with one of the guys/girls listed here http://www.moneyweek.com/file/31682/...only-ifas.html
It's important you understand all the subtle points about pensions, investments, savings.Comment
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Originally posted by Likely View PostThanks. I will be providing for my retirement with either BTL or some Business. If this doesn't work , than in my 50ies
Not even a decent troll imho.Comment
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aghhhhhhhhhhhh
Main differences
1) Interest in a savings account is taxed in the current tax year. You can add / withdraw as you like
2) Interest in a pension fund is not taxed. You can't withdraw it (i.e. buy an annuity/ income drawdown) until later in life. There are maximum amounts you can add.
A pension is a bit of gamble: +ve - you get tax relief; -ve - how will Gordy / future government change the rules?
No wonder IFAs, banks, etc. can rip people off so easilyComment
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Ignoramuses
There is one born every day...
Mind you with this level of knowledge, it's like taking candy from a baby...Comment
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Originally posted by zeitghostIndeed.
The Severn Bridge is still available... I'll throw in the 2nd Severn Crossing as a bonus...That boy go raaaaaaa
Copyright (C) BabyBear1 - with thanks to VF for hostingComment
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