I would advocate the opposite,save more via Additional Voluntary Contributions when you have spare cash. The revenue will let you keep what whould otherwise be taxed a person eanring 60,000 pays 10,000 as an avc and keeps 4,00 that would go in tax. No other savings product gives an immeadiate return of 66%. Modern schemes are called salary sacrifice. Bigger firms let you keep their corporation tax that they save on top.This is the young you buying the old you a pint.
-
Existing user of old message board?
Your username will have transferred over to this new message board, but your password will need to be reset. Visit our convert your account page, to transfer your old password over.
State Pension Forecast - A Warning
- Topic starter Badger11
- Start date
I was 18 when I started work and "opted out" so I didn't give it any thought. I still don't quite understand how they arrived at 38 years after telling me if was 35 years I'm sure I didn't make that up but I no longer have the paperwork.
Anyway it seems that if I pony up 3k I will get it back after 3.5 years so I start earning in my 70th year if I make it that far.
ASCPFC
Member
- Location
- Pro-Cathedral/caravan park
- Country
Ireland
You remind me of Derry and Donegal and the census figures neither government shows us. No one works as they just claim benefits on both sides of the border. The pubs still do well - being a decent indicator. They can afford it.
The village in Donegal with one street and a pub with 9000 residents according to the electoral register.
I didn’t know about my situation. I suppose being straight out of school I didn’t pay any attention to such matters. It was only a colleague that alerted me, prior to my retirement. I believe you work in the CS or have done, would well be worth checking
Similar to me, despite numerous conversations with HMRC I still don’t know how, having worked just short of 44 years I still had to pay another 3-4 years of contributions
PalazioVecchio
Member
- Location
- south pole
- Country
Netherlands
