 |
By (user no longer on site) OP 49 weeks ago
|
Hiya, I was going to write a comment on another thread but although similar this was a different topic. So if someone could help I'd be grateful.
Ok, so I had a really good job pre kids and the pension was brilliant (honestly it was), then I took voluntary redundancy when I was pregnant with my first and for various other reasons, that was 13 yrs ago. Since about 5 years ago (which included a 2yr sabbatical due to medical reasons) I retrained and have a very part time job, again medical reasons dictate that. So my income isn't great so therefore my pension is crap. I am lucky to be able to save separately for the future. However, this I think is a waste of time as it's in an ISA which has at best a shit interest rate. Do I start a private pension or just bump up my contributions on my present pensions. As I work in education there are some times ie summer hols when I don't get paid. So are you able to bump up payments by a sanding order or does it come out of your wage if so sometimes I don't have a wage ie the summer hols so how can they take something when there is nothing to take....I know these are probably questions to ask my pension provider, but I just wondered what the norm was and if anyone could point me in the right direction or was good at this sort of thing.
Thanks  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP 49 weeks ago
|
"If you can put in avc, additional voluntary contributions, into work pension then you save paying tax and ni on sum you pay in"
Ooooh thank you. I presume it would come off your wages then......
I didn't think of the tax and NI implications  |
Reply privately, Reply in forum +quote
or View forums list | |
"If you can put in avc, additional voluntary contributions, into work pension then you save paying tax and ni on sum you pay in
Ooooh thank you. I presume it would come off your wages then......
I didn't think of the tax and NI implications "
Yes, best speak to your employers and if they allow avc give it some serious thought, I just started and great to see tax and nino you pay go down  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP 49 weeks ago
|
"If you can put in avc, additional voluntary contributions, into work pension then you save paying tax and ni on sum you pay in
Ooooh thank you. I presume it would come off your wages then......
I didn't think of the tax and NI implications
Yes, best speak to your employers and if they allow avc give it some serious thought, I just started and great to see tax and nino you pay go down "
Thank you for that |
Reply privately, Reply in forum +quote
or View forums list | |
"Hiya, I was going to write a comment on another thread but although similar this was a different topic. So if someone could help I'd be grateful.
Ok, so I had a really good job pre kids and the pension was brilliant (honestly it was), then I took voluntary redundancy when I was pregnant with my first and for various other reasons, that was 13 yrs ago. Since about 5 years ago (which included a 2yr sabbatical due to medical reasons) I retrained and have a very part time job, again medical reasons dictate that. So my income isn't great so therefore my pension is crap. I am lucky to be able to save separately for the future. However, this I think is a waste of time as it's in an ISA which has at best a shit interest rate. Do I start a private pension or just bump up my contributions on my present pensions. As I work in education there are some times ie summer hols when I don't get paid. So are you able to bump up payments by a sanding order or does it come out of your wage if so sometimes I don't have a wage ie the summer hols so how can they take something when there is nothing to take....I know these are probably questions to ask my pension provider, but I just wondered what the norm was and if anyone could point me in the right direction or was good at this sort of thing.
Thanks "
What rate is your ISA? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) 48 weeks ago
|
"Hiya, I was going to write a comment on another thread but although similar this was a different topic. So if someone could help I'd be grateful.
Ok, so I had a really good job pre kids and the pension was brilliant (honestly it was), then I took voluntary redundancy when I was pregnant with my first and for various other reasons, that was 13 yrs ago. Since about 5 years ago (which included a 2yr sabbatical due to medical reasons) I retrained and have a very part time job, again medical reasons dictate that. So my income isn't great so therefore my pension is crap. I am lucky to be able to save separately for the future. However, this I think is a waste of time as it's in an ISA which has at best a shit interest rate. Do I start a private pension or just bump up my contributions on my present pensions. As I work in education there are some times ie summer hols when I don't get paid. So are you able to bump up payments by a sanding order or does it come out of your wage if so sometimes I don't have a wage ie the summer hols so how can they take something when there is nothing to take....I know these are probably questions to ask my pension provider, but I just wondered what the norm was and if anyone could point me in the right direction or was good at this sort of thing.
Thanks "
Hi op my advice would speak to your pension providers. Are you in receipt of benefits? If so you can talk to them too. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *inaTitzTV/TS 48 weeks ago
Titz Towers, North Notts |
My private pension is set to an always affordable monthly contribution. However, I top this up with an additional voluntary contribution each month.
I do this instead of topping up the Nest, works pension, because that fund is getting a better return.  |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
