Estroller:
Isn't the rebate per contribution? You won't get the rebate by just opening the SIPP you will only get it when you contribute into it. So I think having multiple accounts is possible considering different platforms have different offerings, e. g no individual stocks on vanguard and there is on say freetrade, so if I want individual stocks in my SIPP I will open one where I can get that, fund it and get the rebate for that contribution.

NB: I've never tried this just thinking it through.

You're correct, the relief is per contribution.
Each time one pays into a pension, even if its 10 pounds, HMRC tops up the 20%.
And one can have more than one pension.

MichaelUde:


Thank you for this, OgaHR.
As a matter of fact, I don dey look all this investment and pension stuff with a sharper eye recently, I changed jobs and my new employer just re-enrolled me into the pension thing and I was wondering about the one I bin get with my former company and that was when the HR guy told me it would still be there, or I could transfer it, that person fit get plenty pensions if you move around jobs. That was when I started looking at the whole personal pension waka.

Yes, you can combine pensions.
So if you move around from job to job and get a new auto-enrolment pension plan each time, you can combine them all into one. It saves you money on fees because each plan charges a fee.

Estroller:
Isn't the rebate per contribution? You won't get the rebate by just opening the SIPP you will only get it when you contribute into it. So I think having multiple accounts is possible considering different platforms have different offerings, e. g no individual stocks on vanguard and there is on say freetrade, so if I want individual stocks in my SIPP I will open one where I can get that, fund it and get the rebate for that contribution.

NB: I've never tried this just thinking it through.

I am not a financial adviser......


But after reading your response, I had to Google it.......

Yes, you can have more than one SIPP account, but if each provider charges £9.99 pcm, that's a multiple of £9.99's.........

Lexusgs430:



I am not a financial adviser......


But after reading your response, I had to Google it.......

Yes, you can have more than one SIPP account, but if each provider charges £9.99 pcm, that's a multiple of £9.99's.........

Some people have money they want to get rid of so they dont enter a higher tax band by force and are happy to push it into a pension and pay the fees in the hope that the accrued yields covers that.

Estroller:
No need, the only criteria to fulfill is to be out of job for a minimum of 4 months I think.

Exactly.

TheGuyFromHR:


Some people have money they want to get rid of so they dont enter a higher tax band by force and are happy to push it into a pension and pay the fees in the hope that the accrued yields covers that.

The fiscal drag thing they're talking about, abi?

MichaelUde:


The fiscal drag thing they're talking about, abi?

Something along those lines.
Fiscal drag is when income increases usually due to inflation (c.f. all the salary increases the unions are getting these days) and that takes people into higher tax bands because the tax bands haven't been changed to take account of inflation.

No mind that Dishy Rishi.

TheGuyFromHR:


Some people have money they want to get rid of so they dont enter a higher tax band by force and are happy to push it into a pension and pay the fees in the hope that the accrued yields covers that.

When I grow up, I want to be like them.......

olizzz:
Any idea please

I think it’s $106 for standard application. You can also pay an additional fee to fast-track your application. Details will be on the Nigerian High Commission website.

CheesyTee:
Good evening, I'm trying to apply for NARIC, can I upload just my MSc credentials and proof of English or I must upload BSc as well.

I don't have proof of English for my BSc, hence my question.

Are you talking about getting NARIC proof of English proficiency? you need to upload your certificate and transcript.
If you create a free account and login, you'll see the checklist of required documents.

Lexusgs430:

I don't know the type of life you want to live after retirement, but I never want to rely on my children ...........

I don't even think that world will exist when we are old.... All of us we better plan our retirement well

LagosismyHome:


I don't even think that world will exist when we are old.... All of us we better plan our retirement well

The exact reasons, we occasionally have this financial discussions...........

Grandpa don’t say that again

Lexusgs430:



Wahala dey sleep, u wan pull hin tail..........


The best way to thwart this scammers, tell the scammer your friend lives not far from him/her and is willing to help you collect items ..........

I am also not an ancestor.......

TheGuyFromHR:


Basically, when you receive your salary in your bank account, your employer has already deducted the pension contribution (along with tax, NI, etc.) before you get it. So you can decide to invest money from your salary into another pension if you like. You can have any number of pensions, the government encourages saving for old age, which is the rationale behind the favourable tax treatment.

The NHS pension scheme, as I earlier pointed out, is a defined benefit scheme, meaning that you know how much you will get out of it when you start drawing it, and the government might adjust for inflation as well.

Private pensions (SIPP means self-invested personal pension), on the other hand, are called defined contribution pensions, which are basically savings accounts with investment aspects and tax-friendly treatment. You put in money, and it is invested in stocks and shares, and when you decide to retire (or are allowed to start drawing from it, at age 55 now in the UK, changing to age 57 in a few years time), you can only get out what you have put in plus any income accrued from the investments.

So you have to be careful with an SIPP and note that it is possible that one might eventually get out less than what you put in. On the other hand, your NHS pension is government-backed - the UK government guarantees you'll get your [specific amount of] money based on your final salary when the time comes.

Conversely, stocks and shares are the best hedge against inflation, which eats up any money you just leave in a bank account.

Generally, if you aren't up to following the stock market and investing, you could use one of the robo-investing schemes, such as Nutmeg where they do the selection of investments for you, take a fee and pay you the income on your investment.

Lastly, remember that you will also get the state pension once you've paid NI for 10 years or more, so at least the 170 quid a week after the age of 67, 70, (whatever they will increase it to) is something.

Thanks my oga....very well explained and am grateful for your time.

Lexusgs430:



I don't know the type of life you want to live after retirement, but I never want to rely on my children ...........

Estroller:
Look at the SIPP same way as your stocks and share ISA but with the added benefit of a 20% tax rebate (an extra 20% when you do your tax return if you are a higher rate taxpayer) anytime you make a contribution into it. Unlike your stocks and share ISA though, you cannot withdraw from it until you reach the pension age and the income you draw from it after you've taken out the 25% lump sum will also be subject to income tax.

Thanks Boss

I keep learning always

Pearlyfaze:


Thank you all for your advice, mission aborted.
Transaction canceled.

Thank you family

Guys...ensure a clean evacuation, leave no traces behind. I'm going to brief the president.

Viruses:

Are you talking about getting NARIC proof of English proficiency? you need to upload your certificate and transcript.
If you create a free account and login, you'll see the checklist of required documents.

Thank you for your response.

Yes. I have uploaded the required documents. They also requested proof of English to be uploaded.

I wanted to know if it's okay to upload just Msc. instead of two degrees.

TheGuyFromHR:


You're correct, the relief is per contribution.
Each time one pays into a pension, even if its 10 pounds, HMRC tops up the 20%.
And one can have more than one pension.

Yes

But I will rather invest the remaining funds more in my stocks and shares ISA than getting another pension funds apart from the NHS and State pension since l have more years to work.

TheGuyFromHR:


You're correct, the relief is per contribution.
Each time one pays into a pension, even if its 10 pounds, HMRC tops up the 20%.
And one can have more than one pension.

Thanks jare bro...that lexusgs430 gave me fake info that I can't have another pension pot.

LagosismyHome:


I don't even think that world will exist when we are old.... All of us we better plan our retirement well

We should give to our children and not the other way

Careful financial planning and investments with good cash flow as passive income is the way...

wonlasewonimi:


Thanks jare bro...that lexusgs430 gave me fake info that I can't have another pension pot.

I don't want you marrying another small wife, after retirement.......

CheesyTee:


Thank you for your response.

Yes. I have uploaded the required documents. They also requested proof of English to be uploaded.

I wanted to know if it's okay to upload just Msc. instead of two degrees.

Maybe things have changed or I don't understand you properly.
When I did mine, I gave them cert and transcript, they evaluated and gave me proof of English certificate. I wasn't the one that gave them proof of English.
Nonetheless, uploading just your highest qualification should be fine.

Please how is SIPP better than maxing pension contributions through your employer as employers match your contribution or even pay higher percentage? You also get the 20% as well.
Is it the flexibility that it gives?

TheGuyFromHR:


Basically, when you receive your salary in your bank account, your employer has already deducted the pension contribution (along with tax, NI, etc.) before you get it. So you can decide to invest money from your salary into another pension if you like. You can have any number of pensions, the government encourages saving for old age, which is the rationale behind the favourable tax treatment.

The NHS pension scheme, as I earlier pointed out, is a defined benefit scheme, meaning that you know how much you will get out of it when you start drawing it, and the government might adjust for inflation as well.

Private pensions (SIPP means self-invested personal pension), on the other hand, are called defined contribution pensions, which are basically savings accounts with investment aspects and tax-friendly treatment. You put in money, and it is invested in stocks and shares, and when you decide to retire (or are allowed to start drawing from it, at age 55 now in the UK, changing to age 57 in a few years time), you can only get out what you have put in plus any income accrued from the investments.

So you have to be careful with an SIPP and note that it is possible that one might eventually get out less than what you put in. On the other hand, your NHS pension is government-backed - the UK government guarantees you'll get your [specific amount of] money based on your final salary when the time comes.

Conversely, stocks and shares are the best hedge against inflation, which eats up any money you just leave in a bank account.

Generally, if you aren't up to following the stock market and investing, you could use one of the robo-investing schemes, such as Nutmeg where they do the selection of investments for you, take a fee and pay you the income on your investment.

Lastly, remember that you will also get the state pension once you've paid NI for 10 years or more, so at least the 170 quid a week after the age of 67, 70, (whatever they will increase it to) is something.

Lexusgs430:



I don't want you marrying another small wife, after retirement.......

I already have more than one duh

Viruses:

Maybe things have changed or I don't understand you properly.
When I did mine, I gave them cert and transcript, they evaluated and gave me proof of English certificate. I wasn't the one that gave them proof of English.
Nonetheless, uploading just your highest qualification should be fine.

He or she might have meant that letter from school stating you were taught in English

wonlasewonimi:


I already have more than one duh

Nothing stops you from adding another..........

dupyshoo:
Please how is SIPP better than maxing pension contributions through your employer as employers match your contribution or even pay higher percentage? You also get the 20% as well.
Is it the flexibility that it gives?

Nothing stops you from maxing your pension contributions.......

But with a SIPP, you get a 20% cash credit into your SIPP account (based on your contributions), calculated by your SIPP provider + you're also your own fund manager .........

I want to book them too. But I came to check here first.

Please are they legit? No wahala at airport abi

hustla:
Gloriouscrown

Which one is PCR

Just got back from one covid test center now, 54 Gene or so

Cost is 39,500

Planning to use Randox for the day 2 test when I land.