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I am currently contributing 5% of my salary to a UK pension and my employer is contributing 5%.

It is unlikely that I will be staying in the UK long term (maybe another 4 years - max!). Is it worth it to keep paying in or would my money be better off spent else where (like on shoes :unsure: )?

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I am currently contributing 5% of my salary to a UK pension and my employer is contributing 5%.

It is unlikely that I will be staying in the UK long term (maybe another 4 years - max!). Is it worth it to keep paying in or would my money be better off spent else where (like on shoes :unsure: )?

Certainly yes to get your employers contribution. You can claim your pension when living abroad.

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Is it worth it to keep paying in or would my money be better off spent else where (like on shoes)?

Shoes are a good idea. If you spend money on a pension you will be keeping humungously well paid fund managers in hand-stitched bespoke shoes at £2000 a pop. And Ferraris. And BTL flats. Can that be an efficient way to invest? If you have £2000 a year for either a pension or a pair of decent shoes, you might as well wear the hand-stitched bespoke shoes yourself. It is better for your feet. (That's the philosophy I live by, anyway).

Edited by contrarian

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Shoes are a good idea. If you spend money on a pension you will be keeping humungously well paid fund managers in hand-stitched bespoke shoes at £2000 a pop. And Ferraris. And BTL flats. Can that be an efficient way to invest? If you have £2000 a year for either a pension or a pair of decent shoes, you might as well wear the hand-stitched bespoke shoes yourself. It is better for your feet. (That's the philosophy I live by, anyway).

What absolute rubbish!

Tax free contributions

Tax free growth

25% Tax free fund at retirement

Not to mention the fact that if well managed your fund from your contributions (and those of your company) should have grown substantially by the time you retire. And as stated you can draw it wherever you end up living.

It is most certainly worth it.

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if you are getting contributions from your emloyer,then it's worthwhile!!

these prbably won't last....make the most of them while you can!!!

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I am currently contributing 5% of my salary to a UK pension and my employer is contributing 5%.

It is unlikely that I will be staying in the UK long term (maybe another 4 years - max!). Is it worth it to keep paying in or would my money be better off spent else where (like on shoes :unsure: )?

I would say it was worth it for the employer contribution. 100% growth for little risk.

I assume you are returning to Australia. With the new A-Day rules it is still possible to transfer the fund to a scheme in your new country. The receiving scheme need to apply for a some sort of letter from HMRC (can't remember the name exactly) which should ensure the fund will be transferred tax free.

Shoes are over-rated as a pension investment!

NDL

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Certainly yes to get your employers contribution. You can claim your pension when living abroad.

Good point and, WAL, remember you are getting free money off your employer too and the UK government (I assume you are eligable for the tax break).

Just take an active interest where they put your moeny (do you have many fund to choose from?) and in your old age you could have a nice little bonus when you change it into AUD.

:)

Mmm, the VB is on WAL! Sweet, loving VB mmmmmm.

:lol:

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Guest Winners and Losers

Good point and, WAL, remember you are getting free money off your employer too and the UK government (I assume you are eligable for the tax break).

Just take an active interest where they put your moeny (do you have many fund to choose from?) and in your old age you could have a nice little bonus when you change it into AUD.

:)

Mmm, the VB is on WAL! Sweet, loving VB mmmmmm.

:lol:

:lol::lol:

More of a 'New' drinker myself. ;)

Thanks for the advice. I wasn't serious about the shoes ffs. :rolleyes:

I have spread it over some medium risk and some high risk (like emerging markets) :blink:

Not really sure if that is a good thing to do, but thought to myself, what the heck, may as well go high risk!

I would say it was worth it for the employer contribution. 100% growth for little risk.

I assume you are returning to Australia. With the new A-Day rules it is still possible to transfer the fund to a scheme in your new country. The receiving scheme need to apply for a some sort of letter from HMRC (can't remember the name exactly) which should ensure the fund will be transferred tax free.

Shoes are over-rated as a pension investment!

NDL

Cheers NDL. That is what I was worried about, transferring to Oz and tax. I already have a decent sum in another UK pension (totally contributed by employer :lol: ), from before. Just trying to cobble it all together so that it doesn't end up whittled away!!

I think I can claim the UK state pension in Oz as well, but it will stay at the rate from when I start claiming. I think. :unsure:

Oh well, only another 30 odd years to go until retirement - if I make it!

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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