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What happens if the UK leaves the EU


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[quote user="Rabbie"]I do not see why you think the UK system is lunacy. It gives people the ability to chose between a lower pension + lump sum or to take the best possible pension. Things like this have improved the take up of pensions by people who might otherwise not do so[/quote]

 

I find it as insane as the way the housing market went in the UK.

It makes no logical sense to me at all to pay out just about all the original investment and then be liable for payments for the subsequent life time, which these days, can be a very long time, even at slightly reduced rates.

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[quote user="idun"]

[quote user="Rabbie"]I do not see why you think the UK system is lunacy. It gives people the ability to chose between a lower pension + lump sum or to take the best possible pension. Things like this have improved the take up of pensions by people who might otherwise not do so[/quote]

 

I find it as insane as the way the housing market went in the UK.

It makes no logical sense to me at all to pay out just about all the original investment and then be liable for payments for the subsequent life time, which these days, can be a very long time, even at slightly reduced rates.

[/quote]If you are living in the UK and have your pension in the UK then the UK system makes perfect sense.

Firstly you have to use 75% of your pension pot to buy a pension. Your pension will be proportionate to the amount you invest. This is all classified as taxable income.

If you use the remaining 25%  to buy an annuity then you pay less tax on the income from that as some of the payment is regarded as a payment of capital and thus is non-taxable n the UK.

Because people have options on how they use the 25%  it helps to keep the market competitive so the individual can get a better deal.

To me the UK system is better than the french because it gives more freedom to me as an individual on how to use my money.

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[quote user="idun"]Oh la la, you have me there Rabbie, I lived in France far too long as an adult to understand such anglo saxon ways[:D][;-)][/quote]Yeah, we in the UK are just like other people and want to pay as little tax as legally possible[:)]
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[quote user="woolybanana"]IN FRANCE YOU DO AS YOU ARE TOLD by a load of people who have never had real jobs in their lives except either being politicians or prostitutes. In UK, they are all tarts!![/quote]

Wools, clearly, Angela has now gone to her own home or you wouldn't be talking like this in a manner which nobody understands!

OTOH, I fear you have something of grounds on which to base your rant [:D]

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[quote user="Rabbie"][quote user="idun"]Oh la la, you have me there Rabbie, I lived in France far too long as an adult to understand such anglo saxon ways[:D][;-)][/quote]Yeah, we in the UK are just like other people and want to pay as little tax as legally possible[:)][/quote]

Well we moved from lowish income tax in France, back to the UK where we pay more, in the full knowledge that we would. If they would reduce income tax, I'd be happy, but it is unavoidable. And thanks, I have the online declaration to do, and had forgotten, your post an indirect, but timely reminder[:D] 

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[quote user="woolybanana"]

[quote user="You can call me Betty"]I meant maxwell, of course. I can only say in my defence that I am under the influence of French medication...[/quote]

The red, the white or the rosé kind?

[/quote]

The kind that comes in 50ml bottles and in pill form. The kind I think you are referring to actually makes me ill rather than curing me. I am one of those poor unfortunates who, when people cite the cheapness of wine as being a bonus to living in France, has to shrug and think " so what?". Not that I am anti drink, but drink is definitely anti me. :-(
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[quote user="woolybanana"]Well,they seems clearly to describe politicians or is it tarts? In fact it fits both in the end, equally well. No, if that is true, who are the pimps?[/quote]

I think this proves my point:

http://www.dailymail.co.uk/news/article-2255549/Sunderland-FC-paying-David-Miliband-French-striker-Louis-Saha-failed-Labour-leadership-candidate-rakes-125-000-15-days-work.html

 

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