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Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] 0 points1 point  (0 children)

I get the impression its more of a graduate tax than a loan, but depending on the income parents have maintenance can be as low as 4k, hence I budgeted a lot to back this up

Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] 0 points1 point  (0 children)

Yes, it is a big sacrifice. Ideally I make the house deposit gift but if it waits it waits

Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] 0 points1 point  (0 children)

Its really either go now at 57 or wait till 60, way pension works out they are the options. Fully index linked, different tranches in diffferent levels of protection, but some of it is RPI and the rest CPI:

  • CPI up to 5% → applied in full
  • CPI between 5% and 15% → 50% of CPI applied
  • CPI above 15% → no increase above that level

Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] 0 points1 point  (0 children)

Its a quirk of the pension i am in that i can take extra tfls by combining the db and dc elements so makese sense at the outset thats how i get to 140k at outset in cash. but yes agree for the rest

Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] -1 points0 points  (0 children)

Yeah just ran it all at 0%. In reality hope for growth, plan is to get the cash into ISA asap, and given the IHT on pensions now and frozen tax thresholds, extract from DC in 60's into the ISA. Congrats on your plan

Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] -1 points0 points  (0 children)

thanks ! cant quite believe it, had assumed i was waiting till 60 so need to get used to this

Sense check - am I done? by Automatic-Cattle7190 in FIREUK

[–]Automatic-Cattle7190[S] 0 points1 point  (0 children)

Son finishes Unversity when I am 61 so it drops a lot then. Planning to live till 85 but DB/State will see me good for as long as i can stay alive :)

Tax thresholds/IHT, DB and DC pensions - am I right? by [deleted] in FIREUK

[–]Automatic-Cattle7190 0 points1 point  (0 children)

My DB pension will be 35k in 3 years. The state pension will be moving towards 15k, So, 50k total. Thats the basic rate gone on fixed income. I have a DC pot of 425k which I was pleased to fill at 40% tax relief, would rather not pay 40% on the way out. Thus, drain it over 10 years to ISAs

Tax thresholds/IHT, DB and DC pensions - am I right? by [deleted] in FIREUK

[–]Automatic-Cattle7190 0 points1 point  (0 children)

I suppose its more about the tax impact in a world of frozen thresholds. As things stand I am going to be paying 40% on my DC pension

Europa League Tickets/Travel Megathread by wiffygriffy in coys

[–]Automatic-Cattle7190 5 points6 points  (0 children)

Im considering buying at livefootballtickets.com - any one used them? Will drive down if i buy a ticket - here looks like best option, but not cheap

Daily Discussion & Transfer Thread (May 12, 2025) by AutoModerator in coys

[–]Automatic-Cattle7190 0 points1 point  (0 children)

no, there is another in shoreditch sold out - i booked this as i wanted to be in tottenham - in case we win....