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It measures your height??
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- Joined
- 11 Jan 2004
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It's nothing unusual. It's really common amongst people who are really young, with it, clever, well off, successful, well educated, whose children are medical consultants. I know a couple of go getters like that. Strangely, they have no trouble at all moving round the world to work/live, when they choose and they haven't been touched by Brexit. Seems they don't spend a second trying to stir up arguments to try and win on 2 bit forums either. You're quite unique I guess.
the number required changes from time to time, but last time I looked, it was 35 years for the full amount
however
if you were ever contracted-out, they knock off an amount (probably equivalent to 1/35th) from your pension for each contracted out year.
And, even if you pay full NI for extra years, you can't earn the deduction back.
So you might do 30 years full NI, then 5 years contracted out, then 10 years full NI, and they will treat you as if you had only paid (35-5=) 30 years contributions.
I had great difficulty working out the calculation, because it was not included in the estimate.
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It appears you've missed the bit about referring to the UK and the NHS...
What would you like to tell to the relatives of those who will die/have died whilst on the extended NHS waiting lists but who won't be listed as 'virus' victims?
Well you know what to do if you don’t like it.
as an aside the 35 years is on going
as in you may reach 35 years and be eledgable for full pension and decide to stop paying your stamp you contribution will reduce by the unpaid new contribution so after 5 years you five years short so you must keep paying or top up in time to save loosing out
as in you may reach 35 years and be eledgable for full pension and decide to stop paying your stamp you contribution will reduce by the unpaid new contribution so after 5 years you five years short so you must keep paying or top up in time to save loosing out
it will be added to all your other taxable earnings, and charged tax at the rate appropriate to the band it is in.
so £12,570 tax free, then 20% up to £50,270, then 40%
Above £150,000 it is 45%
https://www.gov.uk/income-tax-rates
however, if you are actually stopping work, you could defer some payments until the following tax year. If by then your earnings have dropped, you may be in a lower tax band.
If you want to take the whole initial 25% tax free (not necessarily a good idea) you could take that this tax year, and start taking more cash next April.
At age 55 you might reasonably anticipate another 30 years to collect your pension, so you'll want the remaining fund invested in something that will hopefully grown faster than inflation.
You are not obliged to draw money at age 55 if you don't need to.
I'm 65 next weekend. Intend to carry on working as long as I am able to then, when I can't do work for a company for whatever reason, start making things in my workshop to keep me active and my brain functioning.
No pipe and slippers in front of the TV for me thank you.
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I was 65 last weekend, solidarity bro, I feel the same
Slot a spiv?
B
Brigade77
How much per week do you think you could live on in retirement?
Let's assume you have a few £1000's safety cushion of ready £cash to cover the emergencies, but how much do you think you'd need to live a decent life in retirement?
If you think you could live on £300 per week & enjoy your life at that level, go find out just how much you need in a pension pot to buy your annuity to provide that amount.
Let's assume you have a few £1000's safety cushion of ready £cash to cover the emergencies, but how much do you think you'd need to live a decent life in retirement?
If you think you could live on £300 per week & enjoy your life at that level, go find out just how much you need in a pension pot to buy your annuity to provide that amount.
Slot a spiv?
Tough street talk from Ellie. Somehow I think this is more your level of violence.
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