Pensions??
Thread Starter
Joined: Jun 2001
Posts: 447
Likes: 2
From: uk
Pensions??
question?
with a money purchase pension that say your company puts in 15% and employee 15% does that mean that 30% (equivilent) of your annual salary goes in the pot?
ie if your salary is 50k then £15k a year gets saved. What sort of income would that give you after say 30 years.?
BB
with a money purchase pension that say your company puts in 15% and employee 15% does that mean that 30% (equivilent) of your annual salary goes in the pot?
ie if your salary is 50k then £15k a year gets saved. What sort of income would that give you after say 30 years.?
BB
Joined: Jun 2001
Posts: 436
Likes: 0
From: Peoples Republic of EU
IT would be more than£15k as you'd get tax relief on your contribution at 40%. So if you put in £7.5k you'd have £3,000 refunded by the IR. So in effect you'd be putting in £18k.
BALPA have excellent IFA's (Independent Financial Adviser) who will help you understand this much better than I can explain it!
As for what your pension would be worth well speak to an IFA.
BALPA have excellent IFA's (Independent Financial Adviser) who will help you understand this much better than I can explain it!
As for what your pension would be worth well speak to an IFA.
let alone every thing else you have worked hard to achieve.
