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| Simon Audi Member Since: 19 Nov 2020 Location: Newport Posts: 544  
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Is the pension by your current employer?
Will you retire at 55? If this is an old scheme - why not transfer it in to your current scheme if you continue working. Without much more details - the only real advice I can give you is to speak with a financial adviser. |
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12th Jan 2021 2:27pm |
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| C&M Member Since: 28 Aug 2020 Location: Hampshire Posts: 185
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topical for me right now.
I was speaking to a guy from an independent Investment company and trying to compare it to the Retail Market Fees , growth of this vs the MSCI world index is very confusing to me nothing to do with Defenders I admit but is very interesting Defender D250 HSE Dender 110 XS - sadly gone VW Polo VW Caravelle - Gen 6 |
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12th Jan 2021 3:45pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3525 
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Bitcoin investment ?
If you do, you are braver than me. |
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12th Jan 2021 6:47pm |
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| RFT Member Since: 13 Nov 2010 Location: Cheshire Posts: 683 
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Andydef90,
What day is your birthday? I’ll be 55 on 14th March. Re pension, get some advice from an honest financial advisor. At 55 I’m sure you can take 25% tax free, but what you take obviously reduces your future pension that you may enjoy when you retire. Richard 130 Puma HCPU with an Artica 240LR Demountable Camper |
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12th Jan 2021 7:57pm |
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| C&M Member Since: 28 Aug 2020 Location: Hampshire Posts: 185
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dipped my foot in the water on that one last year, big mistake and wont be doing that again  Defender D250 HSE
Dender 110 XS - sadly gone VW Polo VW Caravelle - Gen 6 |
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12th Jan 2021 8:20pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3525
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Why is that? I thought the things were going great guns??
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12th Jan 2021 8:27pm |
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| htb2 Member Since: 02 Nov 2018 Location: Carmarthenshire Posts: 535 
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Bought high sold low?
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12th Jan 2021 8:59pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018 
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Have a look here:
https://www.pensionsadvisoryservice.org.uk/about-pensions I think they also offer a free one hour telephone session. Unfortunately, there's no simple answer to your query, as only you know your full personal circumstances and appetite for risk. If you go the property rental route, just be aware that there's more than a few people that will want to dip their hand in your pocket as part of the process like agency fees, gas safety certificates, landlords insurance, electrical safety tests... |
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13th Jan 2021 7:16am |
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| C&M Member Since: 28 Aug 2020 Location: Hampshire Posts: 185
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Thanks for the link Supacat. very useful and will be calling them later this week as need advice on splitting pension pots for divorce purposes
 Defender D250 HSE
Dender 110 XS - sadly gone VW Polo VW Caravelle - Gen 6 |
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13th Jan 2021 7:42am |
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| andydef90 Member Since: 09 Feb 2015 Location: yorkshire Posts: 617 
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thanks supacat ill give that a go
to let you all no its a old pension that i have not paid in to for twenty seven ; years i joined the local government pension when i started been a caretaker thirty years now . my thinking is when i retire i need a place to live so a deposit on a house ;  |
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13th Jan 2021 11:02am |
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| excossack Member Since: 22 Feb 2012 Location: North West Posts: 5866 
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I too have a LGA pension(but I pay into it) we have an online website we can login to so we can see pension info.
Maybe worth a chat direct with the section/team that deal with the pension.? 1999 Defender TD5 110 Regards John M0VAZ Econet Station 48 no clock |
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13th Jan 2021 11:08am |
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| Tim in Scotland Member Since: 23 May 2007 Location: The Land that time forgot Posts: 3753 
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Do take into account how much the current pension will cost to transfer, some are very expensive to leave and even though performance might not be spectacular where your money is now it might cost you more in transfer fees than you might expect. To transfer one part of an industrial pension that I had recently cost £790 in transfer fees to move the £38000 pension to Royal London - no fees to RL all to the pension fund I’d been with for 46 years...... Pangea Green D250 90 HSE with Air Suspension, Off-road Pack, Towing Pack, Black Contrast roof , rear recovery eyes, Front bash plate, Classic flaps all round, extended wheel arch kit and a few bits from PowerfulUK Expel Clear Gloss PPF to come
2020 D240 1st Edition in Pangea Green with Acorn interior. Now gone - old faithful, no mechanical issues whatsoever ever but the leaks and rattles all over the place won’t be missed! |
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13th Jan 2021 11:38am |
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| AMBxx Member Since: 24 Jul 2016 Location: York Posts: 1035 
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AJ Bell will pay £500 towards your transfer if that's what you decide to do. If you get a recommendation from an existing account holder, you may get a bonus (I transferred my dad's pension and got £200, not sure if offer still on).
Once you have the pension in a more modern account, you can work more flexibly. |
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13th Jan 2021 1:32pm |
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| ickle Member Since: 22 Jul 2010 Location: South Vendee Posts: 1795  
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In addition to Supacats advice on the fees, plus odds like all electrics now must be 18th edition compliant (think anything not built in the last three years needs new consumer units etc) tenants seldom look after a place like an owner does, need their hand holding over anything more major than a bulb changing and some are little more than cheating lying scum.
If the rental received after all of the payments / running costs / periods no tenants / damage / btl mortgage payments looks viable, there's a couple of landlord blogs that need reading and are eye opening - not sure its a route I'd go down voluntarily again.... Keith |
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13th Jan 2021 1:53pm |
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