Question for the pension experts

[Bentley Bullet]

Have pension pots jumped in value since Brexit?

[roversontheup]

I'm not an expert but considering the rise in Footsie share prices since the Brexit vote I would think pension pots must have risen in value. That said they will drop just as quickly once shares start to drop again.

[drfchound]

I got an update on mine last week, between the end of May and last week it has rocketed.

[hoolahoop]

Hmm thinking of pulling some more out pronto before they change the rules etc . One of them is ainvested in Far East units ( mainly Japanese ) - I'm expecting that to be massive . Half tempted to take it all and the tax on it now rather than pay tax on it doen the line.

[idler]

Just keep an eye on the tax Hoola.
I started to take one of my pensions in 2003 on redundancy when I was nearly 54.
I then payed into one for about ten and a half years until I retired. They changed providers twice in that time. I took the two small ones of about £1,500 but left the larger one until I had no earnings other than state and my old works pension.
I took a lump sum on entering this new tax year. I ended up paying some tax at 20%, some at 40% and a bit at 45%.
I should get a tax rebate at the beginning of the next tax year. I'll be keeping an eye out though just in case.

[Jenny]

Hmm thinking of pulling some more out pronto before they change the rules etc . One of them is ainvested in Far East units ( mainly Japanese ) - I'm expecting that to be massive . Half tempted to take it all and the tax on it now rather than pay tax on it doen the line.

How old are you Hoola?

[i_ateallthepies]

Come on Jenny, I didn't see anything juvenile in what Hoola said...

[Jenny]

It was a question aimed at seeing if he was close to 55... I happen to know a fair bit about tax on pensions.

[RedRover45]

Whoosh

[Bentley Bullet]

Jenny, do you know much about overheads?

[roversontheup]

Just keep an eye on the tax Hoola.
I started to take one of my pensions in 2003 on redundancy when I was nearly 54.
I then payed into one for about ten and a half years until I retired. They changed providers twice in that time. I took the two small ones of about £1,500 but left the larger one until I had no earnings other than state and my old works pension.
I took a lump sum on entering this new tax year. I ended up paying some tax at 20%, some at 40% and a bit at 45%.
I should get a tax rebate at the beginning of the next tax year. I'll be keeping an eye out though just in case.

Hi Idler. I cashed in an AVC in March and had to pay tax in just the way you stated. Rather than complete a tax form I decided to wait to see how long before I got my tax rebate. I was pleasantly surprised that it was only a matter of a couple of months max before the cheque arrived.

[idler]

Thanks for the info roversontheup.
I was told that it was because it was near the beginning of the tax year.
I don't need it at the minute and interest rates are so bad that I'll keep an eye on it if I haven't received it by mid April next year.
It can go towards a holiday to celebrate promotion. 😀

[NickDRFC]

Jenny, do you know much about overheads?

Exceptional play on words, take a bow!

[BobG]

I have to confess my intellect isn't enough to grasp the subtlety. I've wondered two or three times where and what the clever bit is. So yes BB: as Nick suggested, do take a bow - and explain it please for a mere mortal!

Cheers

BobG

[Bentley Bullet]

Hi Bob. I'll try and explain it to you and all the other mere mortals whose head my joke went over.

i_ateallthepies replied to Jenny's post in which she asked Hoola how old he was. 'Pies wrote
'Come on Jenny, I didn't see anything juvenile in what Hoola said...'

'Pies response was (jokingly) inferring that Jenny had thought Hoola was being juvenile, so replied to him by asking how old he was.

This remark appeared to go over Jenny's head (Whoosh), when her following post appeared to be a bit surly.

It was then that I asked her if she knew much about overheads - Over heads, over the head?

How true it is that a jokes ceases to be funny when you have to explain it!

[NickDRFC]

Was it an unintentional joke? Overheads - overhead expenses, part of accounting...

[Bentley Bullet]

It was intended as a joke for you mere mortals!

[RedJ]

There's no accounting for taste.

[ferribyrover]

Went over my head too!

[BobG]

Thanks BB! Yes. if I had a brain that worked, I could have got it. Sadly, it didn't. And I didn't. Please don't stop though. Your shafts always either entertain, puzzle or intrigue. I like all three!

Cheers again

Bob

[idler]

Thanks BB! Yes. if I had a brain that worked, I could have got it. Sadly, it didn't. And I didn't. Please don't stop though. Your shafts always either entertain, puzzle or intrigue. I like all three!

Cheers again

Bob

I didn't realise that you were so close Bob until you mentioned shafts.