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Pension question
https://www.paphospeople.com/ppforum/viewtopic.php?f=47&t=6451		 Page 1 of 1
Author:  Monkey Nutter [ Wed Dec 31, 2008 5:17 pm ]
Post subject:  Pension question
Hi,

I'm sure i'm going to be asking the obvious here but i would like some clarificatiom, nonetheless.

I'm paying into a HSBC private pension right now, until such time i can swap it to a teachers pension, and my monthly contribution is buying me more shares than it did 6 months ago. I'm obviously getting more shares 4 my money right now so would it be a good time for me to make extra contributions and therefore, theoretically, make the pension more profitable in the long run?

Is that about as clear as mud? :lol:
Author:  Judge [ Wed Dec 31, 2008 6:06 pm ]
Post subject:  Re: Pension question
Just my personal opinion but IF I had the spare cash and there was quite a while to go before the pension came out I would do what you are proposing.............the time to buy assets is when they are at their lowest.............BUT, you REALLY should consult an IFA for a professional opinion on something like this.

chris
Author:  tanny [ Wed Dec 31, 2008 6:08 pm ]
Post subject:  Re: Pension question
In an ideal world the answer would be yes, However its clearly seen that were not in an ideal world and that shares in Woolies for instance may be a bad buy.

Independant advice should be taken, but remember that they take a commission and no responsibility, so ultimately its up to you.

You are also going to be governed by the limits set by law for paying into pensions, so do not try to go over or its a waste of time, if you need help, give me a pm.
Author:  Monkey Nutter [ Wed Dec 31, 2008 8:51 pm ]
Post subject:  Re: Pension question
Thanks both for your answers.

I understand the ups and downs of shares and as i do have quite a while before i will be of pensionable age i thought ploughing a bit extra in now may reap the benefits in years to come?

I just wanted to clarify that my thoughts were on the right track without having to go to the trouble of finding an IFA.

Thanks again.
Author:  tanny [ Wed Dec 31, 2008 8:57 pm ]
Post subject:  Re: Pension question
Go onto the IFA website and that will give you a geographical choice, alternatively use personal recomendation.

Be certain to have a clear contract ith the IFA as to whether they are fees, commission or both and when and how payable.

http://www.searchifa.co.uk/
Author:  Craig & Jayne [ Thu Sep 24, 2009 12:22 pm ]
Post subject:  Re: Pension question
Marina,

There are certain avantages to using your address status in Cyprus if you have one!

Also, a paying more into a UK Pension depending on where you plan to retire may not be the most efficient way of securing yours and your families future.

For example: When a UK pension reaches it conclusion only 25% of the fund is "cash" the other 75% goes into an annuity which you will take an "income" from but it will never become part of your estate.

For more information please message me or give me a call +357 97680589

Craig
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