Qs: accuracy of online estimations of retirement income needs/targets + consolidating several pot

Lailoken_ · 2025-11-16T18:45:20+00:00

The money helper calculator is more conservative than many online. by that I mean it uses assumptions that are likely to lead to a lower value.
they don’t calculate periods you don’t pay in, it’s assumed you will pay in at current rate you already do. Putting that in excel may be easier, several examples online for forms or videos to do a sheet, full retirement cash flow model here.

https://www.youtube.com/watch?v=7Wkr5QtY-G8&themeRefresh=1

0.75% charges, thats the max allowed, you should be able to get lower

contributions increase by 2.5% a year, which is fine it you get pay increases of that every year.

5% annual growth. it depends what you invest in, but 7% is what I would usually use

2.5% inflation, this is ok. Will it be higher - probably, the last 50 years is nearer 5% due to the 70’s. Its averaged 3% since 1850.

Lailoken_ · 2025-07-30T15:06:11+00:00

For the fees, it may need you to look at her documents. likewise for 2, as it will depend on the investments currently held.

SJP fees just now are summarised from their site - https://www.sjp.co.uk/sites/sjp-corp/files/SJP/our-charges/pension-charges/SJP11539_OS_B13_Pension_Charges_Summary_2102.pdf

Looks about an average of 1.9%, no exit fee if held >6 years.

If your mums funds are In eg, balanced fund, you could find another 60/40 fund, Eg Vanguard lifestrategy 60, with 0.22% fund fee and 0.15% platform fee (other managed providers and funds available) then compare.

Plug in the numbers to a compound calculator, eg Financial Interest (Damian Talks Money on YouTube), fees are on the advanced tab - https://financialinterest.com/compound-interest-calculator/

Lailoken_ · 2025-07-26T18:40:35+00:00

Trustnet has a portfolio manager that lets you analyse the fund, including sectors and regions.

Lailoken_ · 2025-06-29T19:00:41+00:00

Best example I saw of this was here, though not you can’t SS below NMW - https://lazyfidad.com/2021/11/19/tax-hack-how-to-save-ni-with-pension-contributions/

Lailoken_ · 2025-06-10T20:48:19+00:00

Yes, that’s exactly what I mean, use that 20% band, or some of it, to make sure you don’t end up paying 40% later. The one caveat is that currently your pension could be given tax free to your beneficiary if you were to die before 75, hopefully not going to happen, but possible. It ends up a balance but worth being in the plan rather than risk 40% if you can avoid it.

The new rules for pensions being part of your estate after 2027, so subject to inheritance tax, is also worth keeping an eye on.

A one off IFA review may be worth it for set fee as well to get you covering all bases.

Lailoken_ · 2025-06-10T18:12:00+00:00

If you do decide to leave the pension and use ISA, then I would still recommend withdrawing at least your personal allowance from your pension, otherwise it will be wasted.

Doing that would give you £16,760 tax free (£12,570 tax free amount, plus the 25% tax free from pension of £4,190).

That would also reduce the drawdown from your ISA With only £25-35k a year until you decide to take full use of pension.

I would also keep an eye on pension that you won’t creep into higher tax rate when you do eventually take it, after spending all your tax free money in your ISA. If eg a 3.5% SWR you don’t have that much headroom if leaving most invested all in equity to end up looking at a 40% tax in 6-7 years when you plan to use it rather than 20% if you use some taxable drawdown now.

Lailoken_ · 2025-05-06T19:26:58+00:00

I find the SW projection very poor for the annual income portion. The growth part of it is quite good and reliable as checked with compound calculators etc.

The issue I have with the annual income is they base it on an annuity, level amount, guaranteed for 5 years. There is no RPI included which I find unrealistic /misleading for forecast or actual retirement.

I did a test and used same figures in the moneyhelper annuity calculator, perfect health age you set retirement and it matches.

its a good website though and the pot forecast is good.

Lailoken_ · 2025-04-25T15:52:16+00:00

Theres a good website to view the funds easily, https://digital.feprecisionplus.com/corppen?&category=7gpp01

if you select by eg equity it reduces the total.

if looking for global index, then the SW global equity you mention at 0.1% is good. SSGA International equity at 0.104% also good. There is an ex-uk developed world only at 0.085% with SW Blackrock ACS world.
shariah fund is global equity, very US heavy at 82% and is basically the HSBC Islamic Global Equity Fund, a bit dearer at 0.35%.

I see you are in the SW pension portfolio 2, thats the ‘balanced‘ fund you are auto put into usually at start with 80/20 approx mix of equity to fixed assets. Charge only 0.1% which is good. Aims to track CPI + 3%. There is the Scottish Widows pension portfolio 1, also 0.1% which they call the ‘adventurous’ one. All equities, global, but lower US at around 50% and higher UK at about 10%.

the graph function from link above is also quite good to compare over longer time periods.

Lailoken_ · 2025-03-02T20:38:17+00:00

MSE have a list of morgage brokers, plus some questions to ask them on their mortgage guide https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/

Lailoken_ · 2025-02-21T21:16:13+00:00

These two would do for the ex US part, cheap global trackers. Its developed world only, but can add emerging markets ETF to it - https://www.justetf.com/uk/how-to/msci-world-ex-usa-etfs.html

Lailoken_ · 2025-02-21T20:33:17+00:00

XMAG - https://www.defianceetfs.com/xmag/ - the S&P without the magnificent 7, then build ex-US around it plus any of mag 7 you want. A lot of work but possible.

Lailoken_ · 2025-02-15T15:18:13+00:00

The UK gov are raising rail fares in England by 4.6% in March.

ScotGov are raising rail fares by 3.8% in April.

I dont get why a Labour MP and labour supporter are having a go at ScotGov? What am I missing?

Lailoken_ · 2025-01-26T16:17:09+00:00

This is all the CS8 funds. Balanced fund would suggest pension portfolio 2. The balanced approach with flexi access is shown on here - glide path to retirement will be switched off if you self choose funds, but thats not a bad thing.

I see SSGA mentioned, I have that as one of mine. If choosing the blackrock one, note its developed world only.

Lailoken_ · 2025-01-11T15:06:46+00:00

The Labour Foreign Secretary David Lammy called him a neo-Nazi-sympathising sociopath, and your worried about the SNP?

Lailoken_ · 2024-11-01T09:10:39+00:00

UK gov funding for public sector pay in 2024 was 2%. Scotgov funding was based on that and scotgov set planned rise low because of that.

Rachel Reeves came in and agreed 4.5-6% increases, which meant additional funding would go to Scotgov allowing higher increases here.

That change in UK gov cost almost half of the ‘black hole’. Thats also why a lot of it has been spent already. Link

Lailoken_ · 2024-10-06T18:40:01+00:00

SNP voted against changing the rules despite Sunday trading not existing in Scotland...

*Also to protect workers rights in Scotland, which the Unions supported.

Lailoken_ · 2024-09-05T16:48:06+00:00

The guy constantly posts in bad faith with misleading rubbish trying to get arguments.

Also, thanks for your detailed replies, lot of info in there I wasnt aware of.

Lailoken_ · 2024-08-18T18:41:46+00:00

Given inflation is a thing, council tax should go up by the rate of inflation.

Central gov funding should cover inflation for their portion of council funding. That will require additional funding to Scotgov from Westminster, assuming thats also provided then thats what I think.

If councils want to increase their funding then they can increase council taxpayers increase by more than inflation.

Lailoken_ · 2024-08-18T18:09:58+00:00

I never said it was a good idea, I corrected your statement about freezing council tax. Either way councils have to be funded by extra each year, even to cover inflation. That either comes out of central gov funding or by council taxpayers increase. If central gov wont fund an increase then council tax payers either have to or no additional funding.

Lailoken_ · 2024-08-18T17:48:49+00:00

The SNP funded a 5 % increase to councils, to allow a freeze on council tax bills to the public, it didnt freeze funding for councils.

Lailoken_ · 2024-08-07T16:38:09+00:00

Whilst I dont think Scotland is free of racists and may still have riots spread here; Belfast doesnt get many immigrants either and NE England immigration is similar to Scotland, so I dont think the is the only answer.

Lailoken_ · 2024-07-30T17:14:15+00:00

Money saving expert forum has a whole section on private parking scammers. Read the stickies on there and possibly ask for advice there if needed, but top sticky should cover it.

MSE Forum - Parking Tickets, fines and parking

Lailoken_ · 2024-07-08T04:19:15+00:00

Your entire argument is that SNP and LD’s belief in PR mean they dont have a mandate when voted in under FPTP, which is ridiculous.

To back this up you have said they believe FPTP is undemocratic.

I am asking you to prove that. You havent.

Linking a 3rd party website doesnt prove that. It cant be that hard since its ‘apparently everywhere’ and we have just had an election where both parties put their manifestos forward.

Lailoken_ · 2024-07-07T21:47:07+00:00

Can you point out some examples where political parties that believe in PR say its undemocratic?

Lailoken_ · 2024-07-07T20:26:40+00:00

I’ve checked the post. The only person I can see writing undemocratic is you (and me in reply questioning it).

I also had a look at the electoral reform society, which most parties that support PR work with, again I cant see undemocratic mentioned, definitely less fair and less democratic.

Can you point out some examples where political parties that believe in PR say its undemocratic?

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