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How much retirement income can you get from £300,000.

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How much retirement income can you get from £300,000.
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The information provided is based on the current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
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#pension #retirementplanning #financialplanninguk

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23 авг 2024

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@EdmundBaileyUK 2 месяца назад

Mr Pickles is back and this time he has £300,000 in his Personal Pension. Thanks as always for watching and do let me know if you have any questions or queries. All the very best!🙏

@31hallite День назад

You have that a lot of that will dissappear in tax, retire with nothing and claim for everything we pay enough into the system get back out what you can.

@ushasundaram1 2 месяца назад

Thank you. I don't look at annuity rates or tax free lumpsum but in my head I always think of a rough rule of thumb as 5k pa for every 100k in the pension pot. So a 250k pot gets you something just around the personal allowance, around 12.5k pa. Very useful and informative and for my pov supremely timely as always. Its like your video drops at exactly the right moment when I am contemplating a similar question.

@EdmundBaileyUK 2 месяца назад

Thanks and using percentages is a nice and simple way to call it in relation to sustainability dependent on the long term objectives. And thanks as always for watching, it’s very much appreciated. 👍

@iannoble4854 2 месяца назад

200k will give just over £12.5k pa with a single life annuity.

@ushasundaram1 2 месяца назад

@@iannoble4854 depends on annuity rates I suppose but yes its a good rough estimate to have.

@Gismotronics 14 дней назад

Synchronicity here as I have about £300,000 in pension pots and planning to retire soon as I just reached 66 years of age. I am aiming for as close as possible to £20,000 pa from my pension pots plus the State Pension on top. From what you were presenting, am I right in saying that a reasonable strategy is to transfer the pension pot money to a globally diversified investment fund that can be adjusted for risk tolerance over time? What is the correct name for such an investment fund? Any examples? Then, with that fund in place, draw down my required pension income from that fund on a monthly basis? Also, as I understood it, at some point into retirement we might consider switching into an Annuity or Fixed Income fund to minimise volatility? As an aside, I also have about £300,000 in Bitcoin. I was thinking of cashing 50% of it out to put into a retirement investment fund. However, I am now thinking that I should just continue to hold the Bitcoin as a Hedge against future unknown economic events. Also, I can use it occasionally to cash out a little money for one-off expenses. Eg. New car, holidays, house maintenance, etc. Of course, all bets may be off if Keir Stalin has his way!

@pankajthakrar1679 2 месяца назад

Wow, thanks Ed So much useful info in a shortish video Really really helpful, great practical , realistic examples Thank you very much 👏🏽

@EdmundBaileyUK 2 месяца назад

Glad it was helpful! 👍

@JohnGreenwoodPhotography 2 месяца назад

Thank you so much. That was a really valuable video. It's refreshing to see achievable figures.

@EdmundBaileyUK 2 месяца назад

You're very welcome! 👍👍

@bigbangerz5856 2 месяца назад

“Mr Pickles will be in retirement for 20-25yrs…” haha what a nice way of putting it 😅

@EdmundBaileyUK 2 месяца назад

😀

@AndrewGAlonzi 13 дней назад

This is an excellent presentation, which I came across quite by chance. It is explained extremely well. I really like the charts, how the presenter used and explained the various scenarios. I certainly learned a lot and, clearly, the presenter knows this area very well. Thank you.

@EdmundBaileyUK 12 дней назад

What a very kind comment!! Thanks so much.

@pataleno 2 месяца назад

Great Video. I have about 5 years until retirement, so absolutely maximizing my pension allowances. I suspect that the 25% tax free is gonna be reduced or scrapped all together in future by Labour should they get in. Pensions for the better off, will be targeted for sure.

@EdmundBaileyUK 2 месяца назад

Thanks for the kind words and comment! Pensions make up almost half of the net worth of the UK so absolutely government will certainly have an eye on them for additional charges/taxation.

@johnristheanswer 2 месяца назад

Just like Gordon Brown did.

@tancreddehauteville764 2 месяца назад

Tories had already decided to freeze the 25% allowance limit at £268k, this will just continue under Labour. They won't get rid of it, they don't need to.

@AgileSnowWeasel 2 месяца назад

Pensions for the better off were already targeted by the Tories when they dropped the LTA from £1.8m to £1m. Sure, they scrapped it very recently, but for a long time there was a punitive tax rate for people who had saved over £1m in pensions, possibly by sacrificing earlier in their life. I expect the 25% tax free amount will be frozen for a long time, or even reduced to 20% or 15% (in which case I wouldn't take a tax free lump sum if I could avoid it, hoping it would rise again one day).

@tancreddehauteville764 2 месяца назад

@@AgileSnowWeasel Given the state of the national finances there will be belt tightening, that's only to be expected, whoever wins the election.

@adamsaunders9876 2 месяца назад

I think its about being flexible in retirement, keep your higher growth conviction stocks but if they have a bad year or 2 cut back on spending to preserve the pot until it recovers as it always does given a few years

@davidwhiteman4649 Месяц назад

Good video, I like to see how the models work. Also I like to read comments from people who are actually retired, stating how much income you really need. Personally it gives me comfort that at 53 I am completely sorted financially for retirement (between my wife and I we have £1.6m in DC pensions and investments) and can retire at 55 if I choose. I will wait until I am 56 as our son will still be in sixth form until then and I really can’t see the point in retiring until he finishes school and is old enough to be independent. Being retired while still needing to do school runs during term time seems a bit pointless when for us retirement is about freedom to travel.

@davidpearson243 2 месяца назад

I do think the Which retirement spending numbers are realistic if there is no mortgage or rent to pay

@EdmundBaileyUK 2 месяца назад

Agreed! 👍

@adm58 2 месяца назад

I lived on £18.5k last year and I pay rent (for a studio flat in Manchester).

@davidpearson243 2 месяца назад

@@adm58 your doing well my Daughter is living in a shared flat in Manchester paying £600 per month each

@adm58 2 месяца назад

@@davidpearson243 luckily for me, I am a natural minimalist; it's my nature to live a rather monk like life. I even sleep on the floor (though, at the moment I do have the extravagance of running an old, not really necessary, car). I will start to get my state pension in Sept.

@dabe1971 2 месяца назад

The PLSA figures are scaring people so unnecessarily. People take them as gospel and don';t seem to smell a rat when their recommendations are higher than some are currently earning ! If you survive without that amount of salary, why would you not be able to when retired ?! I heard on a finance radio programme that the PLSA figures are calculated by simply asking people who are no where near that age, what they would like to be able to do when they retire - essentially asking people for their hopes and dreams and not their realistic aspirations. It's no wonder the figures are so high !

@EdmundBaileyUK 2 месяца назад

Thanks and agreed! 👍

@davidpearson243 2 месяца назад

I think you need to £2000 per month (net) to live as a couple (no mortgage or rent) to live a basic lifestyle if you want “ experiences” then add about another £1000 per month to the budget

@GiveItaGo Месяц назад

Im retiring in 67 weeks time at 55 and feel like im watching more videos like this than i am working 😂😂

@alanbrooks4718 28 дней назад

I did that and obsessed about it I retired at 57 and should have gone earlier. I was way too conservative. It’s amazing how little you can spend if you want to on normal things and also how much of your spending you did because you were at work. We spend most of our money on holidays and fun. Do it is my advice.

@GiveItaGo 28 дней назад

@alanbrooks4718 My wife and I are very fortunate (although we work hard in stressful jobs) in that we earn very good money. I keep watching this type of stuff worring if £3k net income pm will be enough? That's a huge loss of income.....We are looking to downsize as we won't need the 5 bed house were in and do lots more travelling. We will be mortgage free. All our boys are adults and sorted. We have grand kids but plan on spending as much time travelling and relaxing whilst we can. We have very healthy savings and investments as backup. I had a TIA recently it was a big wake-up call.......

@AzzieTheGamerr Месяц назад

imagine paying into a pension that u get taxed on and already taxed when u put money into the pension lol open up a stocks and shares isa and do it yourself tax free, the money the government put in when u retire gets taken back when u retire

@michaelmayes9689 2 месяца назад

Any pension drawn from investing is an assumption of what could happen based on the past, as no one can predict the future. I think the important point is the lump sum? and what you do with it, if you spend it all, then you are giving away your security. I think at least 1 year pension money should be ring fenced in a separate interest bearing bank account in case the brown stuff hits the fan and some or all of your investments fail to pay out. Who could have foreseen the pandemic, and the reaction of the government preventing financial institutions from paying a dividend. Then the choice is yours either to cut back or take out of your ring fenced bank account to take you through. Remember It is not the income you have coming in, it is what you spend is the problem that many find themselves in the inability to moderate their expenditure.

@EdmundBaileyUK 2 месяца назад

Certainly having sufficient in reserve of cash and liquidity will be hugely important and dependent on the individuals asset position, risk and their capacity for loss. The cash allocation will vary whether 1-3 years of expenses plus an emergency/buffer is typical.

@stephenhedges7115 2 месяца назад

Thaanks Edmund

@EdmundBaileyUK 2 месяца назад

Thank you! 🙏

@stephen6262 2 месяца назад

Thanks Edmund great video as always

@EdmundBaileyUK 2 месяца назад

Thanks as always Stephen!! 👍👍

@richardwells1709 Месяц назад

Really helpful video. I think I am correct in saying fixed term annuity providers will not offer enhanced annuity rates for applications with existing health conditions

@EdmundBaileyUK Месяц назад

Thanks a fixed term annuity is not really a true annuity and health or lifestyle factors don’t impact on the available income or the maturity value.

@DeeCee-nb6ev 2 месяца назад

I agree that the Which figures are way more realistic than the PLSA figures. The Which figures are more in tune with average wages if you factor in that once retired your not paying a mortgage and smaller / none pension payments. My preferred route is Annuity over Drawdown particularly as i had a Gauranteed Annuity Rate. For a pot of just over half your £300,000 i am getting a comparable annuity pension to the one you have given though i did not take the tax free cash. With more people ending up in care homes the cost of which is staggeringly high i wonder if there is a way of doing a calculation of the average care home costs and how long your pension will last. There are horror tales of many people paying £1000+ a week and once all assets are sold and the cash is exhausted they have to move out into lesser accommodation. The figures used in this video would see Mr Pickles burning through his funds a lot quicker if he were in a care home.

@EdmundBaileyUK 2 месяца назад

Thanks for the comment and agreed. 👍 Yes cost of care is a real issue to plan for especially when we really don’t know if it will even be required.

@johnjones7410 2 месяца назад

I have a historic pension with Scottish widows, I have 70k that will payout 7.5k a year, 3 and a half years to go so it might be worth more

@AgileSnowWeasel 2 месяца назад

@@johnjones7410 7.5k pa from 70k is astounding!

@DeeCee-nb6ev Месяц назад

@@AgileSnowWeasel its probably single life flat rate (does not increase each year) and no minimum Gauranteed term and no cash lump sum. On those terms with a 120,000 pot i could have had just over a 10k pension however i took an escalating pension with a 5 year guarantee. As its got a GAR its nigh on two thirds more than without a GAR.

@shoelessjoe428 Месяц назад

Hi. Can Mr. Pickles and yourself please do some number crunching based on early retirement? I'm currently watching cars being automated - a relatively complex task involving hardware & software tackling an infinite number of 'life or death' edge case scenarios. So I realise from this that most jobs at this point are not safe and many of us will be pushed into early retirement.

@EdmundBaileyUK Месяц назад

Sounds like a good idea! 👍

@shoelessjoe428 Месяц назад

@@EdmundBaileyUK Thanks Edmund. Keep up the great videos.

@shaungregory1789 Месяц назад

16p for every pound invested in Sipp at the moment.

@jwdsnapper 2 месяца назад

66 ? .... bloody get it , spend it !

@gp2670 Месяц назад

Could you please discuss the inheritance perspective of personal pensions? For example passing on the pension pot to next of kind, either in its entirety or partially upon death. Thank you.

@leonhenry4861 Месяц назад

What’s to explain, just put there name on it for when you die and it gets transferred to them. The provider deducts the income tax at source. Who ever deals with your estate will then hand it over. Case closed

@gp2670 Месяц назад

@@leonhenry4861 Edmund, does this person speak with authority? Would be good if you covered this topic and provided sources to corroborate viewpoints.

@willh5061 8 дней назад

Annuities are nearly always a poor decision.

@EdmundBaileyUK 6 дней назад

Thanks for the comment. That is the consensus view but I’ve not seen much proof of this when using the open market. And with all consensus views it demands to be challenged.

@TROZJAN 2 месяца назад

Could you do a video touching on Strathclyde pension scheme combined with AVCs additional voluntary contributions for those unaware my AVCs are with prudential but there no videos out there see lot pension wise AVCs stuff which I guess work similar at 19 year pension stage think pension worth about £11.000 per year at the moment but normally goes up £1000 per year or least my projection retirement pension pot does.

@welshhibby 26 дней назад

Great Video.

@DKNW62 2 месяца назад

Edmund I’m trying to understand if the annual ufpls would better than drawdown if you plan to use up all the pot, since any growth in crystallised funds is taxable right?……. Is this significant?? Thank you David

@EdmundBaileyUK 2 месяца назад

Hi. UFPLS will be the same net outcome as DD in terms of tax if the same is taken out of the pension over the course of the tax year. £10k as an UFPLS will be the same as £10k as drawdown in regards to tax.

@DKNW62 2 месяца назад

@@EdmundBaileyUK Thank you Edmund what about over 20 or 30 years ? Say if Mr Pickles has 300k. Assuming all tax allowances used by state pension for simplicity. He wants 10k per year so he could take 10k each year as drawdown (Crystalising 30k per year, until 25% tax free used up). Would he pay the same tax over 30 years as if he took an annual ufpls of 2.5k plus 7.5k (paying 1,500 in tax). ? Sorry rough figures but you can see where I’m going.

@simonroyle2806 15 дней назад

I'm 60 still working as a higher rate tax payer, and would expect to not retire until at least 65. I'm looking to max out the annual allowance of upto £60k salary sacrifice. As I understand I can continue to take 25% of the growing pension (different pots) upto a max of £268k through periodic tax free draw downs. In that time I would subsist on the draw down money, i know there are recycling rules if you put the draw down straight back in the pension, but thats not my intention and I would keep these sums separate ie the salary sacrifice is direct form earnings. is this viable?

@WallaceRoseVincent 2 месяца назад

Seems like you forgot to mention that if the company that supports the annuity goes out of business then the annuity goes to zero. AGI almost bit the dust.

@EdmundBaileyUK 2 месяца назад

Thanks for the comment. An appropriate annuity is a contract of long term insurance and is covered by the FSCS for 100% with no upper limit. Not sure what AGI is… sorry.

@fanfeck2844 2 месяца назад

@@EdmundBaileyUKAIG

@LucaPhotographyLondon 2 дня назад

Thanks for this great video. I have a doubt about annuities that I would like to be clarified. Do I need to have cash sitting in my SIPP in order to buy an annuity, or invested value is taken into consideration as well?

@EdmundBaileyUK 2 дня назад

In order to buy an annuity you would need to do so using cash. How that would work in reality is that on agreeing to proceed with an annuity the assets are sold down to cash and the monies are then transferred to the annuity provider.

@tonyjones2838 4 дня назад

I am thinking state pension only after aged 80 is fine surely. How many folk in 80s do a lot. I don’t want to miss out on travel etc in early retirement when fitter.

@EdmundBaileyUK 4 дня назад

Thanks. Do you mean deferring your State Pension until age 80?

@jonathangodfrey3950 2 месяца назад

Could you please do a video showing the amounts youd need to retire at 50 please.

@EdmundBaileyUK 2 месяца назад

Great idea! 💡

@StoodersFam Месяц назад

55 as well - given this is a key milestone for many - thanks

@davedixie57 2 месяца назад

Why try to preserve a pot till you are 90, most people don’t make it, you need to enjoy retirement through better health th 65-85, instead of saving for a retirement home, sad attitude. £225,000 example at 5% interest would give you £12,000 drawdown on interest only, maintaining your pot, take a bit more for a few luxuries and your pot will still last. Don’t be fooled into an annuity where the finance companies just give you your interest made, and keep the pot when you die. And you still have the 25% Tax free (75,000) in your pocket.

@EdmundBaileyUK 2 месяца назад

Thanks for the comment. Interestingly most individuals underestimate how long they will live for. If aged 66 now, there is a 1 in 4 chance of living to 92 and 1 in 10 chance of living to 96. The example you give is fine if you are comfortable with c £22.7k pa gross and not adjusting for inflation.

@davedixie57 2 месяца назад

⁠Another example, you are diagnosed with a terminal illness, you can increase your drawdown ( pot dependent) to pay for private care at home, and compensate any family who help. With annuity you are stuck in a contract at a fixed amount, even if it rises by a paltry amount with inflation built in.

@daveharruk 2 месяца назад

I agree - assuming a fixed level of expenditure (adjusted for inflation) in retirement is a huge mistake. People should be aiming to spend the majority of their money while they are still most likely to have their health - it makes zero sense to allocate huge amounts of money to later years when there is likely very little benefit to be had and this over cautious approach just serves to unnecessarily delay retirement for many. A realistic model would likely have three phases - go go, go slow then no go.

@chqshaitan1 Месяц назад

@@daveharruk Yea, i couldnt agree more, also these days, retirement isnt the cliff edge is used to be. No reason why you cannot be doing something part to bring in 'pocket money' to cover the shortfall between now and when you get the state pension for example

@JRD18GHR Месяц назад

@@EdmundBaileyUK I don’t know many 86 - 92 year olds that need as much money as when they were 60 - 75. No overseas holidays or buying fads, so less income needed. I certainly plan to go big for the first 15 years of retirement. Then sit back and watch my vegetables grow.

@TROZJAN 2 месяца назад

Also have you got any videos on ISAs reading bank information just make simple things sound confusing so if I put 20k in 2022 and in 2023 can I stick that 20k into 2023 pot so that keeps gettin new interest rate

@dabe1971 2 месяца назад

Sounds like to wish to action an ISA *transfer*. Perfectly possible but you must do it by asking the provider you want to move them money to make the arrangements. They will then ensure the money is moved over but it retains the 0% tax status of the funds and doesn't count towards the £20k limit of the current tax year. It's not the fastest process in my experience but it's pretty trouble free. What you absolutely must *not* do is try and move the money yourself by withdrawing it and then paying it into your new ISA yourself.

@TROZJAN 2 месяца назад

@@dabe1971 but can you do with same provider and get interest on full pot for following year or do you just get the decent interest rate on the new 20k you save every year then once years up ur matured 20k joins yer other 20k in a lower isa pot no one or no bank explains that properly why so confusing.

@papiyarussell5630 Месяц назад

@@TROZJANsome banks have an introductory bonus rate for a year, is that what you mean? It should be applied to the account, not dependent on it having to be "new ISA money" to be eligible for the rate. So yes, if you open a new ISA account which now has the 1 year introductory bonus on it, you should then be able to transfer your old ISAs into it to get the new rate. You should check with your own bank, but this is what I've done in the past with Barclays, in fact they suggested it to me! It wasn't just applied to the money I put in that year. Ensure you request a formal ISA transfer of your old ISA to ensure it keeps its tax free status.

@TROZJAN Месяц назад

@@papiyarussell5630 no I mean if I save 20k in a year at 4% where does that cash pot go to if there 4% interest the following year on the new yearly rates does the 20k I’ve already saved go into a crappy pot with lower interest rates or can I put that 20k into next years 4% and eventually add another 20k for the new year taking me up to 40k on the new interest rates for the year. Or do I have 2 separate pots one for previous saving gaining lower interest and a pot for new years interest rates no bank properly explains it, they do mention after it matures it goes into different isa at lower rate but doesn’t say if I can do anything else with it. If it is stuck in crappy interest pot can I not just transfer to different bank every year with full pot full allowance hopefully free of charge.

@hannible1002 3 дня назад

Just take the OAP and 4% of the rest each year.

@roberthudson4548 2 месяца назад

Which company is quoting these annuity values they are better than ones offered to me recently

@EdmundBaileyUK 2 месяца назад

Hi. It’s whole of market and therefore all of the main insurers that you would expect.

@coderider3022 2 месяца назад

Not clear on growth rates and inflation. Life strategy 40 averaged 5.6% in 10years. Is this how you’re roughly getting 2-3% above inflation growth ?

@EdmundBaileyUK 2 месяца назад

Really?! Inflation used is 2.5% and mid rate growth is 5% net (real return of 2.5%) along with a low rate at 2% and high of 6%. Should all be pretty clear in the video.

@clew5687 2 месяца назад

I kind of see the point of all this deep analysis, but surely you just live to your means using common sense. I know its not so common though. If you have a 300k pot, youre not gonna be taking 50k a year. Or Mr Pickle will be in a pickle.

@EdmundBaileyUK 2 месяца назад

Sure, it’s just as a guide to make as good a judgement call as possible to attempt to avoid that pickle of a situation.

@clew5687 2 месяца назад

@@EdmundBaileyUK Yea for sure. PS Great video again, love your content. Keep doing what you're doing.

@AgileSnowWeasel 2 месяца назад

You say that, but some people go a bit bezerk when given access to a drawdown pot, and they end up in a situation most would not relish. IIRC drawdown pot rates were averaging 8%? That means some are taking a lot more.

@clew5687 2 месяца назад

@@AgileSnowWeasel That doesn't surprise me in the least. Humans never cease to amaze me in the crazy things they do. I know someone who is the exact opposite. He actually won the one million pound UK guaranteed part of Euro millions, he's 62 years old and will not spend a single penny of it. Jeez, the man has even bought a bus pass as taxis are too expensive. He will die with that in the bank , 100%.

@pavlos4852 Месяц назад

What modelling software do you use

@EdmundBaileyUK Месяц назад

Thanks FE Cashcalc.

@Project-Masculinity 2 месяца назад

Another Mr Pickles Home Run 😊

@EdmundBaileyUK 2 месяца назад

😀

@dieterschanzerbschonsmrics3528 23 дня назад

ONS Stats on inflation - pfft...

@jwdsnapper 2 месяца назад

Remember to have enough put away for your care home fees !

@EdmundBaileyUK Месяц назад

Oh wow that is an entire subject and area of planning in its own right and incredibly difficult but not impossible to quantify. A primary issue can be allocating significant capital and resources to it in advance they may never be required.

@StoodersFam Месяц назад

Or plan better so you don’t have to pay them

@everythingtechnew7400 29 дней назад

Rick Pickles has built up a nice pot.

@gbr562 2 месяца назад

As a real life 61 year old Mr pickles, this video was a bit freaky.........

@EdmundBaileyUK 2 месяца назад

Really?! That’s amazing! And my apologies,I now need a caveat to state that any references to real persons is purely coincidence. 😀

@gbr562 2 месяца назад

@@EdmundBaileyUK Mrs Pickles found it very pertinent also, however I'm now worried about what will happen to me when I reach 74!!

@EdmundBaileyUK 2 месяца назад

@gbr562 😂 we have wondered if we might see a statistical spike in deaths just before the 75th birthday!!

@johnristheanswer 2 месяца назад

Next time can you do a video on Mr Pickles and his husband , Mr Pickles. I find your videos very binary and out of touch with today's society. :)))). Great info as always.

@EdmundBaileyUK 2 месяца назад

😀

@gp2670 Месяц назад

Are there any stats of life expectancy for the LGBTQ+ community?

@johnristheanswer Месяц назад

@@gp2670 Depends on which country they live in. I wouldn't fancy my chances in North Korea.

@TheSilvercue 2 месяца назад

Inflation is going to kick Mr Pickles in the backside.

@EdmundBaileyUK 2 месяца назад

That’s absolutely a possibility for all of us and depends on which strategy Mr Pickles implements to protect himself as much as he can.

@johnbutler3141 Месяц назад

I was about to listen to this until you said 2 1/2 cpi. Behave yourself.

@EdmundBaileyUK Месяц назад

Interesting, what CPI figure would you use? RPI? CPIH?

@gillianmillington7735 27 дней назад

Could not understand a word you was saying.

@EdmundBaileyUK 27 дней назад

Oh no. As in the sound? Or the actual words you didn’t understand?

@J261380 Месяц назад

Reality depressing ey

@tancreddehauteville764 2 месяца назад

Overcomplex. Just buy an annuity for goodness sake!

@EdmundBaileyUK 2 месяца назад

Thanks for the comment. Unfortunately the annuity has a number of downsides that flexi access drawdown does not, death benefits and flexibility. Annuity will not be appropriate for everyone. But interesting to read a comment that is pro annuity... that is rare!

@tancreddehauteville764 2 месяца назад

@@EdmundBaileyUK I get what you're saying, but annuity rates have improved recently and many people will have enhanced rates due to health issues. Also the 'death benefit' tax loophole will most likely be closed by the new government from 5 July. In all fairness I think it's a loophole that should be closed - the whole point of a personal pension is to provide a benefit for the 'person' who owns it, not his entire family! The clue is in the name: PERSONAL PENSION.

@EdmundBaileyUK 2 месяца назад

@@tancreddehauteville764 Its an interesting point of view. Agreed that pensions will be reviewed, as to the outcome its just a complete guessing game of which I have never seen anyone predict accurately. I would say possibly yours is the first comment I have seen that is positive on using an annuity.

@wiganer9912 2 месяца назад

I have zero interest in annuities. Drawdown is king!

@dontuno 2 месяца назад

@@tancreddehauteville764 Yes you are right, it's a "personal" pension not a government pension. I'll decide how I spend MY money and not allow some third party to divvy it up as they see fit.

@wontbelongnow5567 Месяц назад

What a load of crap just get to the numbers. Definitely won't be watching again.

@EdmundBaileyUK Месяц назад

Thanks for the kind feedback. The numbers do also require explanation or you could watch it at a faster speed if it makes it easier for you. I tend to find 1.5x is watchable but 2x is probably too much.