denislawsbackheel
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Make voluntary class 3 NI payments.
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Pension Pot
- Thread starter DTKOAG
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abu13
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Bounced back a little over the last week or so.I dread to think what my fund is worth at present
ganganvince
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Track mine weekly and is sitting at same level as last AugustBounced back a little over the last week or so.
I got a statement for one of my old employer pensions, only with them for a short while so the statement says it's worth just under 3k, there's a tab that says 'take your pot' or similar, does that mean I can just take the cash now? I'm 62 so am unsure if I have to wait until I'm 66, would rather have it now if given the choice.
You should never do that, not weekly, you will give yourself a heart attack.Track mine weekly and is sitting at same level as last August
Ring them !!!! Ask them !!! Don't ask us !!!!! ( I like using exclamation marks)I got a statement for one of my old employer pensions, only with them for a short while so the statement says it's worth just under 3k, there's a tab that says 'take your pot' or similar, does that mean I can just take the cash now? I'm 62 so am unsure if I have to wait until I'm 66, would rather have it now if given the choice.
If you think you can use the 3k to reinvest for a better return do it. If you are just going to blow it on City Europen aways, think about it.
I will!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! But they're closed til Monday, so I thought I'd ask on here, so you don't know then, righto!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Ring them !!!! Ask them !!! Don't ask us !!!!! ( I like using exclamation marks)
If you think you can use the 3k to reinvest for a better return do it. If you are just going to blow it on City Europen aways, think about it.
BeerIsTheBest
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Nw42. You should be able to take it as a small lump sum And as a recipient over 55. Ordinarily 25% would be tax free and the rest taxed at whatever your tax rate is with the lowest at 20%.I got a statement for one of my old employer pensions, only with them for a short while so the statement says it's worth just under 3k, there's a tab that says 'take your pot' or similar, does that mean I can just take the cash now? I'm 62 so am unsure if I have to wait until I'm 66, would rather have it now if given the choice.
The process should be straightforward unless you have complicated remuneration like other live pensions.
You don’t say whether was a Final Salary or Defined Benefit sum. If it’s a Final Salary the employer will be doing everything possible to get old ex employee members like you to take the cash and exit as the cost to the employer to continue these schemes is high.
You also have the option to take the sum and invest it in another investment vehicle.
Even though it’s a small amount in the grand scheme of pension payments it’s always worth trying to get some advice and to consider your choices against any other income you might be receiving / about to receive.
Hope this helps
My answer was better, it was certainly shorterNw42. You should be able to take it as a small lump sum And as a recipient over 55. Ordinarily 25% would be tax free and the rest taxed at whatever your tax rate is with the lowest at 20%.
The process should be straightforward unless you have complicated remuneration like other live pensions.
You don’t say whether was a Final Salary or Defined Benefit sum. If it’s a Final Salary the employer will be doing everything possible to get old ex employee members like you to take the cash and exit as the cost to the employer to continue these schemes is high.
You also have the option to take the sum and invest it in another investment vehicle.
Even though it’s a small amount in the grand scheme of pension payments it’s always worth trying to get some advice and to consider your choices against any other income you might be receiving / about to receive.
Hope this helps
;-)