Work Place Pension

[stevewool]

Right can anyone tell me the answer ,
I am thinking of putting more funds into this workplace pension,
I have a ISA and its paid in full so what do i do with the rest of my cash, savings give you nothing really so where do i put it,
I am in a workplace pension with my work, they pay in about £155 per month, i pay in around £22 but 20% is added for tax relief i think thats right, so in goes from me is around £27,
Right what happens if i want to put more into this say another £400 per month or more, so would i get tax relief on this at 20% which is £80 or more,
I have another pension that nothing goes in at all, in there is around £19,500,and another which has around £50,000, again nothing goes into this, plus i have took the 25% tax free from this one already ,
Remember boys and girls i am wanting to finnish work in say 2 years so all being well there will be around £10,000 in this workplace pension, i may not start taking this pension once i retire, but i may do ,
What are your thoughts on what i am asking or am i looking at this wrong, one more thing my age is 57 this coming November so i am hoping to retire sometime in my 58th year

[Harry T]

Steve, I can't advise you with your workplace pension, however, I will give you a link to this website

http://www.hl.co.uk/

I would suggest there is something there to suit your needs, take a few hours to study the different financial services that they offer, included amongst them are pensions, and the different ISAs on offer.

[stevewool]

Thanks Harry

[fred]

For me Steve,you should keep finding ways to make Pesos at source once you are sure this is where you will spend your money long term..All these UK investments are fine IF the exchange rates stay stable..
If the exchange rates continue to go down then its best to spend your pounds in the UK where they have at least some value.
The UK Pounds that we have left will stay in the bank as it pisses me off to much to change any at the moment!

[stevewool]

Thanks Fred, I am not committing to anything in the phils until we are there or very nearly there,
The apartment thing may work but who knows, and if the peso goes up we shall buy them , but as always i will just put the money into the bank for now

[Slip]

I fear I will have a bad pension when I finally retire in 27 years time!

I have two frozen pensions worth probably around £7000 together. And a workplace one I started late last year when the new rules came out. I pay 4% of my salary before tax into it and work matches it. So really 8% of my monthly salary is getting paid into my pension at the moment.

Problem is I am on the lookout for a new job as I have just about had enough of my current job and being forced to do jobs that 2 years ago I would have had 2-3 people helping me, now I am expected to work on my own most of the time due to us being forced to take on another company's staff (they own 49% of us) who are on high wages forcing our company to cut overtime and not employ more staff, when I complain I get told to just deal with it, we are all in the same boat.... I won't bore you with the details... but the sooner I get a new job the better

[Scouse]

If it is a final or average scheme it's worth looking at putting extra money in if you can, ie buying more years of service. They are usually index linked and will often provide a pension for your spouse if (when?) anything happens to you.
Best to get independent advice though.