Відео

Very informative video, thank you. Retirement really scares me. I wonder if you could consider making a video about defined contribution work pension. I am with 'smart pension' and I want to call them and ask questions e.g. about fees. What questions should be asked? My colleagues contribute little and have no interest. I seem to be the only person interested in pensions and therefore weird...

Is it a good option to draw down the whole pension pot and invest it or is it better to keep a monthly pension. Also is there any way to avoid paying the tax if you take the full amount in a draw down. I may need financial advice

Just in sharing my new experience of uSMART Hong Kong stocks, I actually won a blind box lottery opportunity, 100% win, uSMART you are too good to play, I simply love this platform!

I have two questions: If I retire early and decide to take 12,570 annually out my personal pension pot, will I avoid tax even after the first 25% of pot is gone? 2. Are you better to use up your personal pot before your state pension begins so your income is lower? Therefore less tax?

Would you be able to give advice for smaller estates, for example just under 1 million. Or would inheritance tax not be a problem at that level

My daughter has a nest pension and I often put money into it .

I'm 60, and need to know where I can get some decent advice for my private pension planning

I have few questions Do they take percentage from your money in exchange for this service? There is tax amount on it is that tax or their fees? Can you withdraw your savings anytime you want or it’s locked? ??

You showed in the last section how the tax free lump sum may be more than 25% of the total withdrawal in a year. Is it possible for the lump sum to be less than 25% of the withdrawal?

What a lot of shit, just let me have my money you traitorous Bastards

You invest part of Income over a long working life and the return you get for your investment is called ‘charity’ Benefit.How kind and convenient. Investments and Returns comes to mind.

The new Labour government are going to make sure the middle classes avoid IHT with a cunning plan. Make them so poor they won't have anything for their family to inherit.

Hiya Chris, great video, very informative, i had a retirement pack from my DB pension last year at age 59 and was offered £17500 per year for life, I’ve just received another one now that I’m 60 and the offer has dropped to £15500, is this normal as at a minimum it should have grown by 4% as I was taking it a year later and the early retirement factor is 4% each year.

The only 100% safe investment in the UK, is the UK govt and BoE backed BTL ponzi scheme.

Can i just take it all out , and put it in my own savings account which is earning me (not them ) good interest ,

Sadly it's almost certain that the state pension in the future will only be paid on a means tested basis, the government will cry it's not fair that "wealthy" people who scrimped and saved their own pension receive state money in addition.

Buy gold and tell no one about it, pass it on to your people as you see fit. Out of the system is where you need to be.

Will any of this survive this money grabbing new Labour government?

Well over 12 months ago , I sold my property and bought a house in town. I decided to invest with a broker and thought I go to centlink and what a very big mistake. The next thing I was go to loss $12,285.00 from my pension of $29,023.80 leaving me with only with $16,738.00 . So is quite common for the government to take money if directly invest. This also a reduction in my fortnightly payments of $472.50 from my pension of $1,116.50 leaving me with ownly with the amount of $643.80 . I wish I had a family then I could given the money which I invested, then it would become a FAMILY TRUST FUND that way I would have been able to keep my full pension. Can you see how the Australian government treats pensioners in a manner of Discrimination and Victimisation. Yet the government give millions of dollars to aborigines from our TAXES without questioning what happens to the money.

He says at 7:30 if you have 30k, you can claim 7.5k (25%) as a basic tax payer then an additional 7.5 (25%) as a higher rate tax payer. You don’t get 50% back as a higher rate tax payer do you? And as as additional rate tax payer do you get 7.5+9.375 (56%) back?

What a weird looking bloke.

I'm 60 and expect to work to 67. When I was 55 I took the tax free 25% of my sole private pension assuming that was it. Subsequently I have been in an employer DC scheme which has grown due to salary sacrifice to mitigate being a higher rate earner. I transferred most of this to a SIPP, now I am informed that I can draw 25% from that fund. Does that mean I can repeat this until I hit the £268k tax free limit? I don't want to endanger my salary sacrifice limit until retirement. Thankd

Best explanation of pensions and tax efficiency that I have ever seen on UA-cam, well done and thanks!!

good video, Ifelt NEST kept thier contribution charges quiet .Bastardos !

good video, I feel NEST kept quiet about thier contibution charges, bastardos

just seen this now and your rates from 2022 are nothing compared to now which is bizarre bearing in mind interest rates have increased so significantly. Now for a 10 year fixed annuity with the lump sum returning I get a 1% return per year on 600,000. So this fixed term annuity is an absolute joke. 1% return? with no inflation protection on the lump sum - come on, pull the other one

What a mess this is, from a policy point of view.

They are Rubbish ive tried for last 4 months to get my money they keep fobbing me off with different detail issues DONT USE NEST worse Pension provider in UK

When you consider that you'd hopefully have a paid off home by retirement the withdraw rates are actually quite viable

Helpful video ✅

One thing that I can't find an answer for is what happens if you crystallise money into your drawdown pot and it then grows later. Is that growth completely taxable or is it possible to take 25% of the growth tax free?

I'm only 43 so nowhere near retirement yet although hoping that 55 could be the magic number. I've been researching a lot about my pension recently but didn't know this crucial information about how the 25% draw down works. I'm very grateful to you for providing it and in such a clear to understand manner. Thank you

Where did the 5% withdrawal come from Chris. 4% rule / dynamic withdrawal rate ????

I have a DB pension which had a transfer value of £146k when I received a written quote from the administrator 4 years ago, today the latest quote is £112k and the annual pension £1500. I'm going to see a financial advisor and have something signed before I can transfer it over to a SIPP and or buy an annuity which would give £4500 annually ( not inflation proof, of course).

I do have a NEST pension but its only got around £4000 in it because I wasn't at that company for long.

Why not take out £20k from pension tax relief lump sum up to 25% amount when you have finished contributing?

its easy to pay money in but they put up a fight when you want to take your money out ,they lie .I have been trying to take my money out for 2 months ,I spoke to someone from the support and told them i couldn't sign into my account they told me they would email a link (lies )they did not send it asked again they said they sent it (lies ) they didnt filled out a paper form they sent me double checked eveyrthing sent it recorded delivery .after a week they sent a text (not an email ) to say a page was missing luckily i had a spare form so i filled it out scanned it and emailed it to support.5 days later i checked to see if it arrived spoke to a lady who said good afternoon (must have different time zones in england where i was it was 10 oclock in the morning .so on hold for 5 minutes so she can ask if its there returns to say yes it will be put into pile to be paid 25/06/24 .we will see what happens now.

Hi Chris - thanks for the video. What is not clear to me is if I can “transfer” tax free allowance between pensions. For example, if I have two pensions a) SIPP and b) final salary scheme. For simplicity let’s assume that that they are £100k each (£200k total) at the time when I am 57 and reach my minimum pension age. Can I at this point use my 25% tax free allowance i.e. £50k but take it all out of the SIPP leaving the final salary untouched and just start to take normal income from the final salary scheme at the age 65?

Subscribed 😊

All very good, but the odds of tax free anything existing after Labour take over is almost zero.

Nest is awful still waiting for pay out a year after the fact. No clarity about Nest investments to me. THis should be looked into I feel Nest is a scam

The governments purposely don’t teach all these basics in order to tax us to death ☠️ totally unacceptable!!!

If contributions to ISA's were tax deductable it would be a no brainer.

Brilliant explanations of stuff I was struggling to get my head round

I’m 43 I’ve just started my isa saving journey I’m aiming to hit between £100,000 - £120,000 before retirement then when I get my retirement lumpsome possible be between £100,000/£120,000 that cash will be put high saving account then every year I will switch £20000 over to my isa or start building up wife’s isa eventually I could have between £200,000/£240,000 given me yearly tax free interest as income. I’ve just read that I can pass these isas down to kids if me and wife pass away so they don’t have to endure the hassle of going through sacrifices I’ve done and can enjoy life without worry about savings or what not and if they don’t blow isa and get extra interest cash every year they can pass these isas down to there kids or build bigger pot for them

Could the home bias be a passive approach? The UK market, i.e. the average UK investor, has a home bias of around 25%. Passive investing means tracking the market. If the market dictates a 25% home bias for UK investors, who are we to disagree? (What does the UK market know that the overseas market does not? That there are ways in which the risks and returns of UK equity are different for UK investors than overseas)

Thank you. I found this video so helpful 😊👌👌