gremlin wrote: Tue Nov 04, 2025 1:56 pm
Obvious target is reducing the 25% tax-free lump you can pull out.
If she does that and people take out a smaller lump sum to avoid paying tax on it, what does the Exchequer gain?
I suppose they gain more income tax from taxing the bigger annuities and drawdowns from the bigger remaining pots. Hope Rachel has worked all this out.
gremlin wrote: Tue Nov 04, 2025 1:18 pm
there's talk of the AI frenzy fueling stocks like Nvidia, etc. That said, 'they' have been saying that since last year. I personally don't think there will be a huge fall, but I do plan on moving my holiday saving pot (all £1,578 of it) into safer pots soon, if only to realise the gains and bask in my financial wizardry.
We may think the market is irrationally high. Keynes said markets can remain irrational longer than you can remain solvent.
gremlin wrote: Tue Nov 04, 2025 1:56 pm
Obvious target is reducing the 25% tax-free lump you can pull out.
If she does that and people take out a smaller lump sum to avoid paying tax on it, what does the Exchequer gain?
I suppose they gain more income tax from taxing the bigger annuities and drawdowns from the bigger remaining pots. Hope Rachel has worked all this out.
I suppose it also depends on what people do with the money they take out. If they stick it straight into cash ISAs she won't make much in the short term. (So, expect the £20k pa per person allowance for cash ISAs to get cut too?).
If they spend it on home improvements, new cars, booze etc there'll be quite a bit heading back to the Treasury.
I changed my risk level to growth a couple of years back, took about 24 hours. It's still there.
I also looked at the performance history of each risk level, about 8 levels going back 10 years and the higher risk definitely came out better over time. On a downturn, they didn't lose much more than a cautious safer portfolio, but on upturn made a lot more.
Mine was done by the provider when i reached i think 50 years ... But other than that i've not touched it. Your logic doesn't sound terrible to me as long as there's not a penalty for swapping it over.
Two points:
In the short term the market gurus are saying a 'correction' is on the cards,
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Dunno about the other banks but I assume they're all much of a muchness. Nationwide Cash ISAs are 1 year (no withdrawals) 4.0%, 1 year, (up to 3 withdrawals) 3.5%.
(Longer term ones are lower interest so it looks like they expect interest rates to drop).
Someone mentioned a National Savings thing recently that was 4.0+% but I assume it's not tax free?
Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Have a look at Revolut.
I got an account before I went on my travels, initially for the ease of exchanging currency, but know use it as my main banking pot.
The savings account is 3.85 atm. Money can be switched in and out of that as you will.
Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Have a look at Revolut.
I got an account before I went on my travels, initially for the ease of exchanging currency, but know use it as my main banking pot.
The savings account is 3.85 atm. Money can be switched in and out of that as you will.
Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm
Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.
My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??
Have a look at Revolut.
I got an account before I went on my travels, initially for the ease of exchanging currency, but know use it as my main banking pot.
The savings account is 3.85 atm. Money can be switched in and out of that as you will.
