Reply to: Pension rule changes - most money ends up in BTL

[MrMarkyMark]

FTFY

But its different this time.....as those political "masters", Pig Boy and Gidiot, have managed to find a sustainable workaround.

[AtW]

Another crazy government action. Maybe we need a rule that says, is someone has blown an adequate pension pot, they will not be eligible for welfare.

Why??? It's their cashpot, they can use it whatever they like - as long as they paid enough NICs to qualify for welfare.

[SimonMac]

By passing the whole much is not most grammar differences, the average size of pension taken in full is less than £15k, the summary of the story is "Pension freedom is good" nothing to do with BTL.

[Danglekt]

I bought two dozen this morning already.

YOU CANNOT LOSE!

https://www.youtube.com/watch?v=6A7bq1HFygs

This is the real trick

[BrilloPad]

Hmm where have I heard that before???

First timers guide? From your accountant?

The stock market crash of 1987: What have we learned? - BBC News

central bankers could have done more to limit the periods of cheap money and east credit that have fuelled stock market booms.

But its different this time.....

[BrilloPad]

Savings rates hit new low, says Bank of England - BBC News

[northernladuk]

YOU CANNOT LOSE!

Hmm where have I heard that before???

[alreadypacked]

What are the rules with cashing out your pension pot ?

When I was looking into it, in case I cashed out my German pension I got the impression they tax 75% of it at "full whack".

i.e. you get say 100 grand then 75 grand would be at taxed 20 and 40%

which is a bit steep, considering that the contributions weren't tax free, that means I'm being taxed on taxed income.

My conclusion is if I return to the UK, I should cash it in before I go back.

Just wondering whether in this case it should be regarded as life insurance for which only the gains are taxed.

Only after you have made 10 years contributions, otherwise you get nothing.

[BrilloPad]

What are the rules with cashing out your pension pot ?

When I was looking into it, in case I cashed out my German pension I got the impression they tax 75% of it at "full whack".

i.e. you get say 100 grand then 75 grand would be at taxed 20 and 40%

which is a bit steep, considering that the contributions weren't tax free, that means I'm being taxed on taxed income.

My conclusion is if I return to the UK, I should cash it in before I go back.

Just wondering whether in this case it should be regarded as life insurance for which only the gains are taxed.

You pay tax in the UK. But it is tiny compared to the profits to be made from property. So buy now!

[MrMarkyMark]

That's clinched it for me!

Nothing in The Express, I always trust them, on these sorts of matters

[DimPrawn]

The lazy way to invest in the UK house price giveaway.

About Harewood Associates | Asset Backed Property Investment

Stick you life savings, pension pot and everything else and get 10% - 20% pa return, all backed by the UK govt's favourite ponzi scheme.

That's clinched it for me!

[DimPrawn]

The lazy way to invest in the UK house price giveaway.

About Harewood Associates | Asset Backed Property Investment

Stick you life savings, pension pot and everything else and get 10% - 20% pa return, all backed by the UK govt's favourite ponzi scheme.

[MrMarkyMark]

Most British savers fully cashed out pension pots on retirement after rule changes | Money | The Guardian

Financial Conduct Authority study finds 68% of pensions accessed between July and September were cashed out,

Citing previous research undertaken with pollsters YouGov, Greer said much of the money may have been used to invest in buy-to-let property but increases in the tax paid on second homes would likely curtail demand in future.

Sounds like a good plan. house prices can only go up. buy all you can now.

No wonder our economy is the envy of the developed world.

BOOMED

[BlasterBates]

What are the rules with cashing out your pension pot ?

When I was looking into it, in case I cashed out my German pension I got the impression they tax 75% of it at "full whack".

i.e. you get say 100 grand then 75 grand would be at taxed 20 and 40%

which is a bit steep, considering that the contributions weren't tax free, that means I'm being taxed on taxed income.

My conclusion is if I return to the UK, I should cash it in before I go back.

Just wondering whether in this case it should be regarded as life insurance for which only the gains are taxed.

[vetran]

Another crazy government action. Maybe we need a rule that says, is someone has blown an adequate pension pot, they will not be eligible for welfare.

we need a law that says a pension & annuity should be a good deal if you are forced to buy it not a way to line insurance company pockets.

If they stipulated it should be more effective than just throwing the money in the bank then it might make more people invest.