I haven't given this collective plan much thought as it's not going to be huge. Ill leave it till 67 , the NRA60 AND NRA65 are my main concerns
What I'd like to know. The collective plan lump sum @67 . Will this be tax free , totally or some of it taxed ?
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Collective plan lump sum.
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Wullie10
- EX ROYAL MAIL
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mr hil.
- Posts: 417
- Joined: 19 Sep 2007, 18:22
- Gender: Male
Re: Collective plan lump sum.
By my calculations the lump sum should be tax free and possibly 100% of the extra lumpsum booster too if you pay that too (no brainer because RM match the amount you put in so free money). Any extra AVCs would probably be subject to the normal 25% tax free but it all depends on your personal circumstances and how much in AVCs you have.
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NWpostie
- Posts: 3614
- Joined: 04 Aug 2007, 17:32
- Gender: Male
- Location: Sector 001 Borg Collective, 6 o f 9
Re: Collective plan lump sum.
The longer you pay into your collective lump sum the better and put in as much as you can afford.
I'm putting £90 into my AVC and opted for 100% growth, high risk but high reward, stock markets usually recover higher than dips in the long term.
* Not financial advice just my experience.
I'm putting £90 into my AVC and opted for 100% growth, high risk but high reward, stock markets usually recover higher than dips in the long term.
* Not financial advice just my experience.
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