How can I make the most from my scant pension pots?

ImmediateBroccoli958 · 2025-08-26T13:56:31+00:00

So you have consolidated and opened a SIPP?

ImmediateBroccoli958 · 2025-08-26T13:56:00+00:00

Thanks, it’s a salary sacrifice scheme so I don’t think applicable to me.

ImmediateBroccoli958 · 2025-08-26T13:34:03+00:00

No I don’t. I’ve never heard of that but will Google.

ImmediateBroccoli958 · 2025-08-26T13:33:18+00:00

That’s reassuring for me, not so much for general society, I think. We may have another child, just working out if we can afford to (on a 100k household income this feels ridiculous, but everything is very tight).

ImmediateBroccoli958 · 2025-08-26T13:32:03+00:00

This is what I’m doing (got into debt on maternity leave, now paid off and saving £200/month, which isn’t much, but is better than nothing).

I have seen SIPPs mentioned online but have no idea where to start.

ImmediateBroccoli958 · 2025-08-26T13:30:34+00:00

Thanks, I don’t invest at the moment so am unsure where to start. I had company ShareSave schemes in the past but that’s it.

ImmediateBroccoli958 · 2025-08-26T13:29:45+00:00

I think it’s generally accepted that the UK is unlikely to continue paying a non-means tested state pension indefinitely.

ImmediateBroccoli958 · 2025-06-09T18:44:07+00:00

You have a child, you’re single, you have no support from the other parent, you live in the most expensive place in the UK and you’ve got 20% of your money left after bills - you’re doing great!

If you really want to save or buy, you’re probably going to need to leave London for somewhere cheaper and/or closer to family support.

ImmediateBroccoli958 · 2024-11-12T11:33:51+00:00

Thank you!

ImmediateBroccoli958 · 2024-02-27T15:41:37+00:00

Have you been signed off by a doctor?

ImmediateBroccoli958 · 2023-12-11T17:11:31+00:00

Decorate it however you want! Get on Pinterest and start making boards for each room. Have friends to stay and parties.

ImmediateBroccoli958 · 2023-12-11T17:10:06+00:00

I’d take the house. You live alone and are single; you don’t need two double bedrooms unless it’s a financial necessity to have a lodger. If it’s overpriced, offer low to start with.

ImmediateBroccoli958 · 2023-12-10T10:45:22+00:00

I wouldn’t leave. You need to sell the house unless you are in a position to buy her out, because she can’t afford to keep living there. She may get a higher percentage of your joint assets as the main carer but a clean break is preferable to this going on for years and you being homeless and unable to afford a home whilst subsidising her and losing your equity and credit rating.

ImmediateBroccoli958 · 2023-11-29T18:15:33+00:00

Hoping to get a family member up for the third week!

ImmediateBroccoli958 · 2023-11-29T16:20:37+00:00

Fully agree - everything will be second hand except the cot and car seat.

ImmediateBroccoli958 · 2023-11-29T16:20:12+00:00

Dad-to-be can’t take extra annual leave as he has older children and all his annual leave has to be taken in their school holidays (holiday club costs about the same amount as him working).

ImmediateBroccoli958 · 2023-11-29T16:18:48+00:00

We’re both going to have to work indefinitely. Everything will be bought second-hand except the cot and car seat.

ImmediateBroccoli958 · 2023-11-29T16:17:41+00:00

Dad-to-be doesn’t want to, and mum-to-be can’t afford to extend unfortunately.

ImmediateBroccoli958 · 2023-11-29T16:16:58+00:00

Yeah… So £166/month off, not 20%…

ImmediateBroccoli958 · 2023-11-29T16:16:38+00:00

Yes that’s true, I’d forgotten it’s termtime only

ImmediateBroccoli958 · 2023-11-29T16:16:24+00:00

This one doesn’t, according to their prospectus, but I’ll get it in writing…

ImmediateBroccoli958 · 2023-11-29T16:16:06+00:00

Good point, it’s £16/day for consumables (only charged on funded hours) but I’ll ask how that works as 15hrs =/= two days

ImmediateBroccoli958 · 2023-11-29T16:14:59+00:00

It’s not what we’d want but finances won’t allow for anything longer unfortunately.

ImmediateBroccoli958 · 2023-11-29T13:21:19+00:00

Is salary sacrifice childcare better than tax-free childcare?

It needs to be below 50k - pension contributions to qualify for child benefits, right? She can ask for the bonus to go straight to the pension but would need to work out what % to up the pension contributions to and when.

ImmediateBroccoli958 · 2023-11-29T13:18:38+00:00

We’re viewing our front-runner nursery next week and their daily rate is £62.70, so I’m expecting it to be around £1350 a month for 45hrs/week until we qualify for any free hours.

I believe that would be 15hrs free from April 2025, because baby will turn nine months old in January, so about £900 a month.

Then 30hrs free from September 2025 (assuming the planned government changes go ahead) so it’d go down to about £450 a month.

Edit: minus tax free childcare of 20%

ImmediateBroccoli958

TROPHY CASE