FORUMS FORUMS






RLFANS.COM
Celebrating
25 years service to
the Rugby League
Community!

   WWW.RLFANS.COM • View topic - Pension advice
::Off-topic discussion.
User avatar
RankPostsTeam
Moderator12488No
Team
Selected
JoinedServiceReputation
May 07 200717 years201st
OnlineLast PostLast Page
13th Oct 23 16:277th Mar 23 15:21LINK
Milestone Posts
10000
15000
Milestone Years
0510 1520 2530
Location
Durham
Signature
Huddersfield Giants 2013 over achievers

Huddersfield Giants 2014 under achievers ??????????
Moderator

Pension advice : Sun Apr 16, 2017 9:50 am  
Following on from my IR35 thread I need to get some pension advice.If I go with an umbrella company I am regarded as n employee.

This means I will be automatically enrolled into a pension.

( the fact I have to pay my contributions as well as the employers is a separate point).

My question is.

Can I opt out and not pay into ny pension at all :?:

I do not want a pension. They are a waste of time and pointless.

My retirement age is 67 both my parents died age 60.

I don't want to waste money paying into a pension I might never get.


If I cannot opt out of a pension. Is there any way around it.

Could I get an endowment or something similar that pays out when I am 67 or before if I die as an alternative.

ANy help greatly appreciated.
RankPostsTeam
Club Captain1401No
Team
Selected
JoinedServiceReputation
Jan 02 20177 yearsN/A
OnlineLast PostLast Page
30th Apr 18 07:4928th Apr 18 14:12LINK
Milestone Posts
1000
2500
Milestone Years
0510 1520 2530

Re: Pension advice : Sun Apr 16, 2017 10:08 am  
I am in the same position.
Dally 
User avatar
RankPostsTeam
International Board Member14845No
Team
Selected
JoinedServiceReputation
Dec 22 200122 yearsN/A
OnlineLast PostLast Page
23rd Oct 21 15:0122nd Jul 21 09:42LINK
Milestone Posts
10000
15000
Milestone Years
0510 1520 2530

Re: Pension advice : Sun Apr 16, 2017 12:22 pm  
You can opt out of an auto enrolled scheme but it needs setting up first and the paperwork completing.
RankPostsTeam
International Star1946No
Team
Selected
JoinedServiceReputation
Aug 03 201311 yearsN/A
OnlineLast PostLast Page
7th Nov 18 06:0620th Oct 18 18:04LINK
Milestone Posts
1000
2500
Milestone Years
0510 1520 2530
Signature
Superleague Titles
Warrington Wolfs - 0
Wakefield Trinity - 0
Leigh Centurions - 0

Budgiezilla wrote:
Surely it can only be a player from Catalans. Probably the best RL side I have ever witnessed in this season's comp.

Re: Pension advice : Sun Apr 16, 2017 7:31 pm  
Yes you can opt out. Just inform your employer in writing and then check no deductions are made

Regards

King James
RankPostsTeam
Club Captain1401No
Team
Selected
JoinedServiceReputation
Jan 02 20177 yearsN/A
OnlineLast PostLast Page
30th Apr 18 07:4928th Apr 18 14:12LINK
Milestone Posts
1000
2500
Milestone Years
0510 1520 2530

Re: Pension advice : Sun Apr 16, 2017 7:53 pm  
If you are the employer (even of just yourself) you can't opt out, the Workplace Pension changed all the rules.
bren2k 
User avatar
RankPostsTeam
Club Coach15521
JoinedServiceReputation
Mar 24 201014 yearsN/A
OnlineLast PostLast Page
5th May 20 12:495th May 20 08:10LINK
Milestone Posts
15000
20000
Milestone Years
0510 1520 2530
Location
Ossett

Re: Pension advice : Sun Apr 16, 2017 8:55 pm  
PCollinson1990 wrote:
If you are the employer (even of just yourself) you can't opt out, the Workplace Pension changed all the rules.


Yes you can - and no it didn't; once the auto enrolment pension scheme has been set up and you're opted in - you can opt out by following the advice given by previous posters.

To the OP - I'd suggest that this kind of response is exactly why you should get your financial advice from a qualified independent FA, rather than a RL forum?
RankPostsTeam
Club Captain1401No
Team
Selected
JoinedServiceReputation
Jan 02 20177 yearsN/A
OnlineLast PostLast Page
30th Apr 18 07:4928th Apr 18 14:12LINK
Milestone Posts
1000
2500
Milestone Years
0510 1520 2530

Re: Pension advice : Sun Apr 16, 2017 9:04 pm  
bren2k wrote:
Yes you can - and no it didn't; once the auto enrolment pension scheme has been set up and you're opted in - you can opt out by following the advice given by previous posters.

To the OP - I'd suggest that this kind of response is exactly why you should get your financial advice from a qualified independent FA, rather than a RL forum?

Agree with advice about going to a professional, seems complicated from the high level Government documents.

https://www.gov.uk/employers-workplace-pensions-rules
bren2k wrote:
Yes you can - and no it didn't; once the auto enrolment pension scheme has been set up and you're opted in - you can opt out by following the advice given by previous posters.

To the OP - I'd suggest that this kind of response is exactly why you should get your financial advice from a qualified independent FA, rather than a RL forum?

Agree with advice about going to a professional, seems complicated from the high level Government documents.

https://www.gov.uk/employers-workplace-pensions-rules
User avatar
RankPostsTeam
Player Coach7392No
Team
Selected
JoinedServiceReputation
Jan 23 200618 years149th
OnlineLast PostLast Page
7th Feb 24 10:5912th Jul 23 05:57LINK
Milestone Posts
5000
10000
Milestone Years
0510 1520 2530
Location
Looking for a coach that can coach
Signature
Mac out!

Re: Pension advice : Sun Apr 23, 2017 6:53 pm  
I do not want a pension. They are a waste of time and pointless.

My retirement age is 67 both my parents died age 60.

I don't want to waste money paying into a pension I might never get.


What time is wasted with a pension? Surely a tax efficient saving scheme that you can access 25% of at 55 isn't pointless. Or maybe it is...

People live longer these days, 60 is way below the current average mortality rate in UK.

Who is online

Users browsing this forum: No registered users and 210 guests

REPLY

Subject: 
Message:
   
Please note using apple style emoji's can result in posting failures.
Use the FULL EDITOR to better format content or upload images, be notified of replies etc...

Return to The Sin Bin


RLFANS Recent Posts
FORUM
LAST
POST
TOPIC
POSTER
POSTS
7m
Rd 6 I Cas A
KaeruJim
118
23m
BORED The Band Name Game
Boss Hog
56013
25m
Game - Song Titles
Boss Hog
34292
34m
TV games not Wire
just_browny
2866
37m
State of the Nation
ComeOnYouUll
226
44m
The Good Friday Derby Massacre
Hasbag
141
44m
Saints a
Brick with e
24
55m
York - 14th April
Belle Vue
11
Recent
Ky Rodwell
Eastern Wild
110
FORUM
LAST
VIEW
TOPIC
POSTER
POSTS
47s
Smith out ASAP
Backwoodsman
138
59s
Saints a
Brick with e
24
1m
Smith - should he stay or should he go
weaver93
359
1m
The official Leon Hayes Thread
Smiffy27
18
1m
Ky Rodwell
Eastern Wild
110
2m
Squad for Catalan
Smiffy27
17
2m
State of the Nation
ComeOnYouUll
226
3m
WIRE YED Prediction Competition Catalans Home
Wanderer
17
3m
Wigan v Sts discussion - THIS THREAD ONLY PLEASE
RobRiches
1934
3m
New Super League shirts in time for Christmas
Deadcowboys1
115
FORUM
NEW
TOPICS
TOPIC
POSTER
POSTS
TODAY
Another Tigers Defeat As Rhinos Go Level Top
RLFANS News
1
TODAY
York - 14th April
Belle Vue
11
TODAY
Stats article
Sir Gregory
5
TODAY
21 man Squads - Devils v Leopards
Cokey
4
TODAY
Squad for Catalan
Smiffy27
17
TODAY
The Wigan Way - New Podcast - Chairman Special
Jukesays
1
TODAY
Dons v Swinton Lions 30 June 2024
Wanderer
1
TODAY
Squad for Sheffield
AdamH
1
TODAY
London Away
Fartown58
1
TODAY
The Bulls away
terry silver
9
TODAY
The official Leon Hayes Thread
Smiffy27
18
TODAY
Saints a
Brick with e
24
TODAY
Leon Ruan signs on loan
Jemmo
2
TODAY
Wardle
Jo Jumbuck
3
TODAY
Huddersfield - Home
Fartown58
6
TODAY
Max Wood on loan to Bradford 2 weeks
rubber ducki
7
TODAY
Jake Wardle 5 Year deal
Zig
22
TODAY
No grade A for 2025 for Trinity
PopTart
27
TODAY
Cup Quarter Final TV Arrangements
RLFANS News
1
NEWS ITEMS
VIEWS
Another Tigers Defeat As Rhino..
151
Cup Quarter Final TV Arrangeme..
571
2024 Challenge Cup Quarter Fin..
694
Easy Does It For The Dragons A..
593
Warrington Demolish London For..
695
Leigh Leopards Beat Plucky Fea..
747
Saints Triumph Over Disappoint..
727
Easy Win for the Wolves Over L..
967
Dragons Condemn Castleford To ..
933
Leigh Leopards Secure First Po..
1080
St Helens Tame The Rhinos To W..
1048
Wigan Warriors Come From Behin..
1119
Betfred Championship and Leagu..
1093
2024 Challenge Cup Sixth Round..
3881
Featherstone Win Extra Time Cu..
1209
RLFANS Match Centre
Matches on TV
Table 'boards.stats_fixtures' doesn't exist