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Check your Workplace Pension if you are Part Time or on a low wage

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Low earners risk tax shock on workplace pensions

 

There is apparently an anomaly on some of the auto enrolment schemes.

 

You can read more in the article linked below.

 

 

https://www.ft.com/content/40af7052-0361-11e7-aa5b-6bb07f5c8e12


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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The article is not viewable unless one is a subscriber to the Financial Times... However, it is available via google cache, but for how long, I don't know.


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We could do with some help from you.

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My wife works part time and opted out because she doesn't trust limited companies holding her money for a future pension.

This is heading same way as other European countries where people contributed to pension funds for decades only to be told that the ltd company had folded and money disappeared.

Governments only pay minimum pension as "compensation".

Maybe things are different here, but she prefers saving via Isa without relying on ltd company whose directors live on a sunny beach and have no assets.

Can you blame her?

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I agree with you king - too many companies going bust and taking pension schemes with them.. eg.. Phillip Green !


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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The article is not viewable unless one is a subscriber to the Financial Times... However, it is available via google cache, but for how long, I don't know.

 

Sorry I didnt realise that Mr P - however, it looks like Andyorch has provided a further link that does work :)


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Putting aside the debate on pension providers going bust or the lack of tax relief for the moment... Workplace pensions are worthwhile even for part time workers. The employer's contributions amounts to free money that would not otherwise have been paid and it is possible to withdraw the pot as a lump sum on retirement.

 

Depending on the value of the pot and the percentage of withdrawal, it may well be tax free.


PLEASE HELP US TO KEEP THIS SITE RUNNING

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