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On your last point/question, could it be looked at with the following comparison? Both 15 years, monthly contributions and 5% annualised growth, net of charges: ISA - £1k invested per month = a pot of £267k, sitting there tax free. SIPP - £1.25k invested per month = a pot of £334k, 25% also tax...

I found the composition of interest, because for a while the £43k has been banded about by the media and on phone ins. Headlines of £43k required to retire in dignity.

You escaped the Rat Race young!

Which? recently surveyed 5,200 retirees and semi-retirees, the average spend results were as follows. Remember that tax is paid out of income above £12,570 per person and therefore on top of these spending numbers eg to give the £44k. The first table includes tax.

For those still working, in a not ideal pension scheme and who can afford it, I’d recommend setting up a SIPP. Using the always favoured platforms A J Bell or Interactive Investor. Not more expensive HL. Then, if not confident, choosing cheap tracker funds … either seek advice on which ones...

Rovaniemi, we got similar bargains in early December just before you. Yes, it was magical.

BBC4 R4's fantastic You & Yours today, was wall-to-wall stories and advice about pension saving/planning/required retirement incomes. Answering callers Q&A's. https://www.bbc.co.uk/sounds/play/m001kh48

I've read quite a bit on this. Headline annuity rates look good, but recheck for index-linked (a must) and spousal continuation on death, and the rates look modest at best.

Accepted. On this occasion :mad:

And Labour agree, Wes Streeting stated Labour’s plan, the Tory’s have copied it. The argument, worth it to get the wealthy such as surgeons back to work.

95% of people in this country would give anything for a £1m pension pot. Giving £250,000 tax free and at a very conservative 4% giving annual income of £30,000 for decades. Add the £20,800 state pension for a couple at 66 or 67. In a non-mortgaged home in retirement. Wealthy individuals also...

That’s what I said in post 594, basic rate tax relief for all, giving a level playing field. For everyone, £100 of investment costing the individual £80 and public purse £20.

Labour had already confirmed that they would scrap the lifetime allowance cap altogether. https://www.ftadviser.com/pensions/2022/09/07/labour-would-scrap-pensions-tax-cap-to-boost-nhs-staff/ The Tories have belatedly listened to the campaign too.

Pension plan will give you immediate tax relief, assuming you’re an employed basic rate taxpayer, so if you pay £750 into a plan the government will immediately pay £187.50 into it too. A no brainer. The one negative, when you come to draw it other than the 25% tax free lump sum, further...

It’s far worse than that (or better if you’re a wealthy doctor, footballer, TV presenter or executive). They receive 45% immediate tax relief as pension contributions are paid, one way or another. So, assuming just for this purpose there’s no investment growth (which does not negate the...

Medics have been relentless on TV/radio/press in plugging this for 3 or 4 years, with the entire press on their side. A hardship case. I know exactly where you're coming from, the lifetime limit was heavily cut by several governments for a very good reason. To counter this I think we should...

Doctors and hospital consultants/surgeons are also affected by this. In recent years, in the press, saying that it caused them to leave the NHS very early.

That’s right, it’s been widely covered for a long time. The Mercer Global Pension Index includes that aspect as Sustainability. Many ageing populations don’t have the demographics and resulting tax revenues in years to come to finance purely state pensions eg Italy, Spain and Austria...

The UK has a long history of non-state pension provision too eg 18.4m in defined benefit schemes and 25.3m with defined contribution plans. Financed in part by £42b from the public purse each year in tax relief, in addition the public purse pays out £28.5b each year (not from a fund) to today’s...