R3verse Swing
Local Club Star
- Joined
- Jan 8, 2018
- Runs
- 2,163
Just wondering what are you thoughts on Pensions?
I have 3 private pensions, all 3 via my employment, and with UK contributions going up this year and next, I'm thinking of making additional contributions with TAX relief. (Provider adds 20% on top and I can claim 20% via HMRC). So this means £100 contribution actually costs me £60. The downside of course is I cannot touch my pension till I am 55 (and this law could change). Essentially is a pension worth it?
The alternative option is to invest in a Stocks/Share ISA. Main benefit being I have access to my cash at anytime - but no tax relief via HMRC - though I get to choose where to invest.
Any advice/experience appreciated, even if you do not reside in the UK.
I have 3 private pensions, all 3 via my employment, and with UK contributions going up this year and next, I'm thinking of making additional contributions with TAX relief. (Provider adds 20% on top and I can claim 20% via HMRC). So this means £100 contribution actually costs me £60. The downside of course is I cannot touch my pension till I am 55 (and this law could change). Essentially is a pension worth it?
The alternative option is to invest in a Stocks/Share ISA. Main benefit being I have access to my cash at anytime - but no tax relief via HMRC - though I get to choose where to invest.
Any advice/experience appreciated, even if you do not reside in the UK.
