Reply to: Pensions

[Mailman]

Indeed Wendigo. After all, its only fair!

Mailman

[wendigo100]

1. Will never happen cause only the rich will benefit
2. Will never happen cause only the rich will benefit

Mailman

It was irony. Those were two problems that Gordon Brown created himself.

[Joe Black]

But seriously though...this pension thing isnt as big a problem as your government is making out.

It wasn't a big problem before this bunch of noddies moved in. At one point the UK had the highest amount of funded pension schemes in Europe. Until GB decided it just wasn't fair that is.

[Mailman]

Most kiwis or aussies who go home get their pensions paid out to them as a lump sum when they return home permanently.

In fact many of the dodgy umbrella companies advertise the fact back in NZ and Aus that is a benefit of working for them

Mailman

[ASB]

I don't think it only applies to non-Brits:

UK Pension Transfer to NZ | Britannia Financial Services

Yes, but Mailman wasn't trasferring. He was getting the fund paid out to him (tax free).

[meridian]

I don't think it only applies to non-Brits:

UK Pension Transfer to NZ | Britannia Financial Services

[ASB]

Is it cause I is not English...yes. I even have it in writing from our pensions legal people too

Mailman

Well that's bloody useful.

I trust if you are still permie then you make the biggest possible voluntary contributions. Or if you're contracting yourco pays oodles of contributions into a pension for you.

[Mailman]

Who told you that ?

I though only tiddly funds could be migrated to a cash payment on emigration. Perhaps it's because you are not British?

Is it cause I is not English...yes. I even have it in writing from our pensions legal people too

Mailman

[ASB]

Im kinda happy that when I move back to NZ in about 15 years with my golden pension I got when I went permie (easy money as its 35% of my salary and can transfer it as a lump sum payment to myself when I leave the country!

Who told you that ?

I though only tiddly funds could be migrated to a cash payment on emigration. Perhaps it's because you are not British?

[ASB]

I thought that they abandoned this cos they thought that people might be buying second homes with pre-tax pension money (and of course that wouldn't be fair).

No. There are limits as to how much a pension fund can borrow towards property purchase, there is also the max 215k contribution in a year, and of course you don't want to go over the lifetime cap.

There is nothing to stop you contribution 100k say inmto your fund, the fund borrowing 100k and then buying a 200k flat.

You could sell your prime residence to the fund if you wished and then rent it back.

But, be bloody careful you know exactly what you are doing and the consequences if you are putting property into a pension.

Edit: you might onlu be able to borrow 50k. I'm not sure if the limit is 50% of the total paid or 50% of the cash put up (i.e. 1/3 of the price paid).

[Pondlife]

Akshully you can do this - including your prime residence if you fee so inclined. But only since april this year.

I thought that they abandoned this cos they thought that people might be buying second homes with pre-tax pension money (and of course that wouldn't be fair).

[ASB]

allowing them to "invest" personal property in to their pension retirement plan

Akshully you can do this - including your prime residence if you fee so inclined. But only since april this year.

[Having said that there are loads of reasons why this might be a bad idea, not least because I'm sure GG is busily dreaming up some "gotcha" for anybody who has done just that]

[Mailman]

1. Will never happen cause only the rich will benefit
2. Will never happen cause only the rich will benefit

Mailman

[wendigo100]

I've got a couple of ideas:

1. Give full tax relief on dividends for equities in a pension fund

2. Remove means testing on state pensions, which is a disincentive to save

I bet Gordon Brown hasn't thought of them.

[MrsGoof]

But seriously though...this pension thing isnt as big a problem as your government is making out.

you seem to be under the impression that they could organise a cockup in a brothel.

ffs he's been here 10 minutes and he still hasn't got to grips with G&T