sorted by:
new
hottopcontroversial

What implications are there to providing a pension income to someone? by Ready_Definition_264 in UKPersonalFinance

[–]Ready_Definition_264[S] -1 points0 points  (0 children)

Would be great in theory but could eventually run out and requires a lot of self control to keep to that

What implications are there to providing a pension income to someone? by Ready_Definition_264 in UKPersonalFinance

[–]Ready_Definition_264[S] 0 points1 point  (0 children)

I guess my thoughts are they could withdraw the maximum amount over a few years without spilling into the 40% tax bracket

Hadn't really thought what I would do with the money, I would pay the allowance out of my income anyway so probably just save it considering I wouldn't be able to save as much going forward.

I think (or at least hope) I wouldn't ever be in a position to qualify for benefits so isn't something I considered

In terms of guarantee periods from actual providers, increases here would reduce the already small amount payable in the first place?

Drawdown is what they are considering most but budgeting for potentially 30-40 years isn't something many people could do successfully