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Thread: Advice from the financial savvy on here.

  1. #151
    Master
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    Jul 2013
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    Quote Originally Posted by T1ckT0ck View Post
    I have sorted my pension out into HL sipp thanks to this forum and they are doing pretty well.

    Now the wifes...

    Does anyone have any advice on what to look for in an older Sun Life (now Aviva) with profits fund when determining whether to move it.

    Wifes policy. It’s a dormant policy from ‘97. no contributions being made. Value around 35k. Five years from 55. 1% fee. Not sure on fund fees (can’t login).

    Her last statement shows fund value of 35k buts goes on to states a transfer value of 44k with the paragraph ...

    ...“” this is how much the plan would have been worth if you had moved it to another provider, it’s different from the fund value because it includes an exit charge £468 and a final bonus of £8857.””..

    Does this mean they are encouraging her to transfer it by showing any bonus applied to date? Seems odd wording, didn’t think a transfer value would be more than fund value.


    Sent from my iPhone using Tapatalk
    All with profits funds 'add' any bonuses upon maturity, transfer, death....

    Not an attempt to encourage you to transfer, simply how the figures are expressed. The annual reversionary bonus is included in the fund value, terminal bonus varies from year to year so can only be stated when you ask for figures.

    You need to check the current policy details, what bonuses have been paid (lots have cut these drastically), are there guaranteed annuity rates (current rates are approx 5%, some policies have contractual rates in double figures. The longer there is until retirement the longer you have to reap the rewards of lower fees, possibly better performance.

    Longer term you might be better of transferring to a SIPP, but just check you're not giving up a good thing.

  2. #152
    Master
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    Apr 2016
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    London
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    Quote Originally Posted by ryanb741 View Post
    If you earn between £100 and £120k you effectively pay 60% tax as you lose your tax free allowance by £1 for every £2 you earn between £100k and £120k. So this is specific to those earning between £100k and £120k only
    Between £100k and £125k for 2019-2020 tax year.

  3. #153
    Craftsman
    Join Date
    Feb 2013
    Location
    Manchester
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    552
    Quote Originally Posted by Kingstepper View Post
    Wouldn't bother with IFA, invest in a tracker, get a subscription to Investors Chronicle or similar and DIY. It's not rocket science.
    Sheep get sheared .


    Sent from my iPad using TZ-UK mobile app

  4. #154
    Quote Originally Posted by Kitz View Post
    Sheep get sheared .


    Sent from my iPad using TZ-UK mobile app
    Indeed, fleeced. Sometimes even shafted.

  5. #155
    Journeyman
    Join Date
    Oct 2019
    Location
    London
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    175
    This just came in from Vanguard:

    "Hello,

    We are excited to let you know that the Vanguard Personal Pension, our new low-cost SIPP,*has launched today.

    The Vanguard Personal Pension is now available to those who are building up (accumulating) their pension savings. Drawdown capabilities for those who want to take payments from their pension will be added in due course.

    The Vanguard Personal Pension is the lowest-cost SIPP on the market for the average British pension holder, according to independent research by Platforum1.

    Setting up a SIPP with us takes just a few minutes and is easy to manage. You can start a new pension or transfer existing pensions to us.

    *

    The key facts

    Low account fee of just 0.15% a year capped at £375. The cap applies across*all*accounts in an investors’ name on the Vanguard Personal Investor platform, including the SIPP, ISA, and general account.

    Invest from just £100 a month or with an initial lump sum of £500.

    Access to 77 high-quality, low-cost, broadly diversified funds and exchange traded funds (ETFs), including Vanguard’s Target Retirement Fund and LifeStrategy ranges.

    No hidden investing charges."

  6. #156
    Banned
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    And so ends the advert.

  7. #157
    Journeyman
    Join Date
    Oct 2019
    Location
    London
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    175
    Quote Originally Posted by Skyman View Post
    And so ends the advert.
    Indeed it does.

    I have no stake or interest in this, but many members had expressed interest in Vanguard a few weeks back.

    That’s all really.

  8. #158
    Master
    Join Date
    Mar 2011
    Location
    Northern Ireland
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    6,697
    Got that email too, gonna sign up the kiddies.

  9. #159
    Master
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    Mar 2006
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    Borrowash
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    Quote Originally Posted by WolfiesPapa View Post
    Indeed it does.

    I have no stake or interest in this, but many members had expressed interest in Vanguard a few weeks back.

    That’s all really.
    Thank you for the update, I was wondering when Vamguard would be offering this.

  10. #160
    Craftsman
    Join Date
    Jun 2011
    Location
    London
    Posts
    998
    Max of £375 across all funds held there is a good bonus too. Most places treat SIPP and ISA as separate.

    Would be paying £1125 on HL on 250k, and if you have 250k each in SIPP and ISA you'd be paying £2250 so it's an amazing saving.

  11. #161
    Master
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    Feb 2013
    Location
    In the south
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    2,326
    Note the .15% is the account charge, so it’s slightly misleading as there are still fund charges to pay so total charges will be .40-44% depending on funds. Lifestrategy funds are 0.41% in total.
    Still good value though

  12. #162
    Craftsman
    Join Date
    Jun 2011
    Location
    London
    Posts
    998
    I was comparing account charge to account charge, sorry should have been clearer!

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