Search results

Also, if the drawdown provider fails, non-cash investments are generally safe as they're ring-fenced and can't be used to pay creditors.

I’m probably being a bit dense, but if you want to max your annual pension, why are you considering taking any lump sum? The greater your lump sum, the more annual pension you have to give up, or are you in one of those public sector DB schemes where the pension and lump sum accrue separately...

If I recall correctly, someone’s maximum lump sum from a DB scheme is directly related to the amount of their pension. DB pensions are revalued annually, both in deferment and in retirement, on a date stipulated in the scheme’s rules, i.e. not necessarily 6 April. The annual increase in...

Apart from the 25% taken tax free.

I’m not convinced by the argument that loads of high earners retire early to avoid their pension exceeding the lifetime allowance. This could be a massive tax giveaway and not achieve the stated aim. In other words, tax cuts for higher earners under the guise of “assisting economic growth”.

The state pension in Austria is currently €2,000 per month, payable from age 62. Taxes and social security contributions are very high and there is very little private pension provision. Country comparisons are not straightforward.

It certainly isn’t an easy calculation, unless you have a decent final salary pension, but there are calculations that you can do. I knocked up a spreadsheet to show what my potential income would be throughout my retirement. It required making a number of assumptions, all of which are likely...