Search found 247 matches

by ursaminortaur
November 3rd, 2019, 11:54 pm
Forum: Retirement Investing (inc FIRE)
Topic: Lifetime Allowance for Pensions
Replies: 26
Views: 1358

Re: Lifetime Allowance for Pensions

I can draw down more than 4% "if necessary" to keep the "fund" below the LTA? I could consider lower contributions to the Pension Fund when it reaches a self sustaining point? Both of the above. It's about tax. If you take a drawdown, you pay Income Tax on it. The higher the con...
by ursaminortaur
November 3rd, 2019, 5:22 pm
Forum: Pensions - Practical Problems
Topic: LTA and tax
Replies: 20
Views: 4494

Re: LTA and tax

Small correction the 4% rule was based on back testing historic US returns as you state but the 4% initial withdrawal (uprated by inflation for subsequent year's withdrawals) was the maximum that could be withdrawn which never in those historic backtests resulted in the money running out within 30 ...
by ursaminortaur
November 3rd, 2019, 3:52 pm
Forum: Pensions - Practical Problems
Topic: LTA and tax
Replies: 20
Views: 4494

Re: LTA and tax

As far as the LTA is concerned it is a difficult sell to have a higher limit for DB pensions than for DC pensions when nowadays so few have access to DB pensions. As it is the 20 times multiplier used to calculate the value of the DB pension for the LTA test is often criticised. Of course when the ...
by ursaminortaur
November 3rd, 2019, 12:38 pm
Forum: Pensions - Practical Problems
Topic: LTA and tax
Replies: 20
Views: 4494

Re: LTA and tax

There already is an annual limit of £40,000 applied to both DC and DB schemes and indeed, although the LTA limit is a problem, the main problems that doctors are having are actually being caused by the annual limit rather than the LTA since it too along with the LTA has been reduced too far and to ...
by ursaminortaur
November 3rd, 2019, 10:48 am
Forum: Pensions - Practical Problems
Topic: LTA and tax
Replies: 20
Views: 4494

Re: LTA and tax

I agree though that it's unlikely to disappear any time soon. And if it does for some reason, whatever replaces it will be worse. For defined contributions, by far the simplest approach would be to copy ISA rules and have a maximum annual contribution. For defined benefit schemes have the equivalen...
by ursaminortaur
November 1st, 2019, 1:49 pm
Forum: Retirement Investing (inc FIRE)
Topic: SIPP Fees
Replies: 13
Views: 1287

Re: SIPP Fees

Eh? I have a SIPP and ISA at II. I pay GBP 10 a month. A trade is GBP 7.50 which is set against your monthly fee. Cheap as chips. https://www.ii.co.uk/ii-accounts/sipp Our Charges Our administration fee is just £10 per month while you are building your pension pot, in addition to the service plan f...
by ursaminortaur
October 30th, 2019, 12:20 am
Forum: Laughing Lemons
Topic: Remember 12th December 2019
Replies: 6
Views: 457

Re: Remember 12th December 2019

The glorious 12th when you can start hunting the fowl/foul on College Green (figuratively speaking of course - I'm not advocating violence against MPs).
by ursaminortaur
October 28th, 2019, 3:01 pm
Forum: How Do I Invest
Topic: Noob dividends questions
Replies: 12
Views: 981

Re: Noob dividends questions

won't give a full picture of your tax liability if your non-sheltered trading account includes funds with accumulation units. Wouldn't they still have to send the Tax Certificate, showing the amounts accumulated? For Accumulation units, the appearance of the amounts on the Tax Certificate can somet...
by ursaminortaur
October 28th, 2019, 12:59 pm
Forum: How Do I Invest
Topic: Noob dividends questions
Replies: 12
Views: 981

Re: Noob dividends questions

3. Will my platform most likely notify me when they are paid out? Will they send me a statement each time and/or an end-of-year statement? Depends. My SIPP tells me whenever a dividend is paid, and I assume they'd do that for a non-sheltered account too; my non-sheltered doesn't. For a non-sheltere...
by ursaminortaur
October 25th, 2019, 12:24 pm
Forum: Taxes
Topic: pension fund on reaching 75
Replies: 8
Views: 1077

Re: pension fund on reaching 75

within this context...... if pension not taken when 75..and then die benefiiaries pay tax at their high tax rate...??? if they are 20% tax payers...do they pay tax at 20% on entire pot...or does it get treated a bit like salary...ie 20% up to £45k and so on? ****** also re Chrysalis....if you take ...
by ursaminortaur
October 24th, 2019, 11:59 pm
Forum: Taxes
Topic: pension fund on reaching 75
Replies: 8
Views: 1077

Re: pension fund on reaching 75

A standard rate taxpayer has an uncrystallised pension fund of about £25K What are the tax implications on reaching age 75 prior to drawing/cashing in the pension fund? newlyretired Won't really affect you unless you have other pensions which have already been taken using up almost all the LTA limi...
by ursaminortaur
October 14th, 2019, 12:36 pm
Forum: Beerpig's Snug
Topic: Near miss of earth and moon of asteroid apophis in 10 years...
Replies: 12
Views: 1310

Re: Near miss of earth and moon of asteroid apophis in 10 years...

After such a collision, the pieces would be dust sized. Surely it would depend whether it was a head-on collision or a glancing blow ? A 60 million tonne object hitting a satellite isn't going to be much of a glancing blow. Scott. If it hits the edge of the satellite then the bit hit may well be to...
by ursaminortaur
October 14th, 2019, 12:08 pm
Forum: Beerpig's Snug
Topic: Near miss of earth and moon of asteroid apophis in 10 years...
Replies: 12
Views: 1310

Re: Near miss of earth and moon of asteroid apophis in 10 years...

Just to add if Apophis were to hit a satellite then given Apophis' mass and speed its deflection would probably be fairly minor it would be more likely that the satellite (or a large number of pieces of satellite) would be deorbited and crash to earth. After such a collision, the pieces would be du...
by ursaminortaur
October 14th, 2019, 10:34 am
Forum: Beerpig's Snug
Topic: Near miss of earth and moon of asteroid apophis in 10 years...
Replies: 12
Views: 1310

Re: Near miss of earth and moon of asteroid apophis in 10 years...

Begs the question: 31km from what? The centre of the Earth is a complex enough calculation; any other would be ... should I say ... hit-and-miss! I see Snorvey's got it. 31km from Dover. If it really was 31km rather than 31 thousand km then I'd be somewhat more worried :) With that much stuff flyin...
by ursaminortaur
October 14th, 2019, 9:54 am
Forum: Beerpig's Snug
Topic: Near miss of earth and moon of asteroid apophis in 10 years...
Replies: 12
Views: 1310

Re: Near miss of earth and moon of asteroid apophis in 10 years...

Begs the question: 31km from what? The centre of the Earth is a complex enough calculation; any other would be ... should I say ... hit-and-miss! I see Snorvey's got it. 31km from Dover. If it really was 31km rather than 31 thousand km then I'd be somewhat more worried :) With that much stuff flyin...
by ursaminortaur
October 13th, 2019, 4:15 pm
Forum: Beerpig's Snug
Topic: We surely are not alone?
Replies: 49
Views: 2572

Re: We surely are not alone?

For any of us to have been born, every single one of our ancestors going back millions and millions of years had to survive all the hazards of the time in which they lived (at least long enough to breed). How lucky is that? Not really true. Firstly most of the human genome is common to us all only ...
by ursaminortaur
October 13th, 2019, 12:35 pm
Forum: Beerpig's Snug
Topic: We surely are not alone?
Replies: 49
Views: 2572

Re: We surely are not alone?

The probability of a particular human such as yourself coming into existence has been calculated as infinitesimally small, something of the order of 1 in 10^44 against. Not small enough though it would seem. For any of us to have been born, every single one of our ancestors going back millions and ...
by ursaminortaur
October 11th, 2019, 10:53 pm
Forum: Retirement Investing (inc FIRE)
Topic: Whether to take a lump sum at 55
Replies: 30
Views: 3171

Re: Whether to take a lump sum at 55

Many thanks for your thoughtful replies. Judging by the number of these and quantity of readers, this is a live topic. The number of folk getting caught out by the lowering of the LTA is getting much bigger. I suspect few readers of this board are wealthy in the Coutts Bank sense of the word. Many ...
by ursaminortaur
October 11th, 2019, 3:16 pm
Forum: Pensions - Practical Problems
Topic: Can retired people set up SIPPs?
Replies: 11
Views: 2847

Re: Can retired people set up SIPPs?

From the brief Google searches I've done, it seems like the answer is "yes", but seems odd to be able to take advantage of tax breaks as I'm already receiving a pension. Yes you can pay into a pension up until the age of 75. However unless you have relevant earnings which usually means ea...
by ursaminortaur
October 11th, 2019, 10:34 am
Forum: Pensions - Practical Problems
Topic: State Pension Forecast is COPE deducted from your forecast?
Replies: 11
Views: 1657

Re: State Pension Forecast is COPE deducted from your forecast?

No, as it says, your forecast is unaffected. You have accrued £100 state pension so far (presumably you have time to make further contributions?) I agree that it is potentially confusing. The COPE figure is notional only. When you contracted out, you were accruing entitlement to basic state pension...

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