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There is no theory about it. It’s tax free taken as income or lump sum.

This is only for DC pensions where there is a “pot”, NOT final salary

Pension pots in general are always outside IHT. If death occurs after age 75, the beneficiaries are taxed at their marginal income tax rate. Death before 75 then no taxes to pay.

Yep mine took a couple of weeks

Yep, We won’t see the likes of non contributory final salary schemes again! Both myself and wife never even thought about pensions until our fourties when we asked to start contributing to them! I...

Yes you need to plan.

I’m four and a half years in retirement having retired at 58. The advice I would give is don’t just use pensions. My retirement savings whilst very good were all in pensions...

I agree. Could have retired even earlier but spent a lot on holidays with the kids. They can now ski, waterski, sail and wakeboard and have been to many countries plus we’ve just finished helping the...

In sunny Falmouth and due to sail this afternoon back to Southampton.

Volunteer a couple of days a week, more in Summer. Keeps me active and a good laugh. Pasties arrive at noon!
...

In sunny Falmouth and due to sail this afternoon back to Southampton.

Volunteer a couple of days a week, more in Summer. Keeps me active and a good laugh. Pasties arrive at noon!...

Yep , if you are going to retire you need to retire to something. I retired four years ago and had six months of doing “nothing”. I now volunteer for a couple of things which takes 2 to 3 days in...

I did it at 58 by being in a final salary pension scheme for 30 ish years and a defined contribution scheme for the last 5ish years. The FS scheme was largely non contributory and I took advantage of...

Don’t think I’ve posted on here before. Retired at 58, four years ago. Started voluntary stuff and off down to Falmouth on Monday to help bring back a steam ship to Southampton. Work on it during the...

There is no client account as such but, your investments are ring fenced from the providers operations so are safe. This gives some more detail.

...

A J bell are pretty good

No real risk

https://www.apjsolicitors.co.uk/what-happens-sipp-provider-goes-bust/

My draw down is from a Personal Pension rather than a SIPP which I believe has a little more protection, but...

yep

I believe he will still get the max if you declare £12500

https://private-client.intelligentmoney.com/ph-equity/

PH=Pistonheads

Yep this!
Went through a whole load of scenarios with my IFA too. Did seem like overkill. My funds are fully invested but strategy was “to not lose too much” rather than “to gain lots” so exposure...

Took early retirement 15 months ago. My fund is down 11% since beginning of year so reasonably happy. Had about £20k worth of holidays booked so my expenditure will be down this year by a big chunk. ...

Useful tax advantages if you apply for Non-habitual residency in Portugal

https://www.qropsspecialists.com/uk-pension-moving-to-portugal/

The total charge on my sons stakeholder is 0.55% which I’m ok with. As it’s got 40 ish years to run it’s invested 100% in equities (various funds) as there is no point in being cautious over that...

Rather than a SIPP for children, also consider a Stakeholder. Lower charges and still a reasonable choice of funds.

Mine was over 40x. Being pedantic it is the “ Lifetime Allowance” which is now £1,055,000 and expected to be £1,073,000 in the next tax year.

He’s talking about a final salary scheme so contributions aren’t relevant, just the early retirement factor which in his case is quite harsh compared to market norms.

I took a transfer from a FS scheme that I had been a member of for about 25 years before it closed and a DC scheme set up. It was a large figure and a big multiple of what pension I could take at age...