Abrdn Share Discussion Threads

[joshuam] 25/10/2024 10:08

Looks like the bottom is in to me

[pander45] 25/10/2024 10:06

It's in bid territory again. Would not be surprised.

[garycook] 25/10/2024 10:04

Skinny, Will take 195p

[skinny] 25/10/2024 10:01

FWIW :- Deutsche Bank cuts abrdn price target to 195 (200) pence - 'buy'

[mcunliffe1] 25/10/2024 09:48

Thanks Skinny. The HL info. states this:

Once you take your first taxable income payment from drawdown, the amount you can pay into money purchase (e.g. personal, self-invested) pensions will be limited to £10,000 each tax year. This is called the Money Purchase Annual Allowance. Taking tax-free cash alone won’t have an effect.

[davethehorse] 25/10/2024 09:47

Yes they can

[my retirement fund] 25/10/2024 09:46

m12rtn, I hadn't realised that. May I ask then, those folk who are continuing to put 60K in then after taking their tax free sum. Can they continue to enjoy 25% on the £60K later on? (Assuming the entire tax free doesn't exceed 256K).

[stun12] 25/10/2024 09:44

prokartrace, I'm with AJ Bell and my funds both say that they're not in drawdown and there is no balance in a crystallised / drawdown account. Clear as mud, as ever. We've added £20k each to our SIPPs since withdrawing our 25% and not had any problems so far. I'd consult an IFA, but to be honest they probably know less than the AJ Bell Benefits Team who helped me out with it all.

[pierre oreilly] 25/10/2024 09:43

Falling knife (don't buy), or blood on the streets (buy)?

We'll know which it is today tomorrow!

Which is the problem with such soundbites.

[prokartace] 25/10/2024 09:38

Stun, I'm not sure about that. Once you take 25% tax free you are 'crystallising' your pension pot even if you don't start taking regular payments. My understanding is that once you have done this your are deemed to have gone into drawdown. My Interactive statement says in my SIPP pot that I have £x in non-drawdown/uncrystallised fund and £x in my drawdown/ crystallised fund. I have taken no drawdown payments

[pierre oreilly] 25/10/2024 09:37

3620

But the gov set all the rules - if they don't like it, why don't they stop it and why is it possible in the first place? Yet another 'unintended consequence' I expect - also know as inadequate requirements/system design. But the legal and financial profession just love 'unintended consequences'.

[skinny] 25/10/2024 09:31

I have to be honest, I take a very dim view of the government - getting dimmer by the day!

[chinese investor] 25/10/2024 09:30

The govn take a dim view of people who "churn" their SIPPs.
i.e. inputting money only to withdraw it soon after.

[mcunliffe1] 25/10/2024 09:06

I stand corrected guys - thankyou.

[m12rtn] 25/10/2024 08:42

Hi, you can take the full tax free lump sum only and still stick the full 60k in your pension and not the reduced 10k, took the below from a pension website. Only when you withdraw normal income from it does it trigger the 10k.No, taking a tax-free lump sum alone will not trigger the money purchase annual allowance (currently £10,000 a year).

[stun12] 25/10/2024 08:40

MCunliffe, I don't believe that to be the case. My SIPP provider said I could take out the 25% (which I did for myself and the missus) but that my company can continue to pay into the pension pot as I haven't put it into drawdown. So if you're still working, you can continue to add to it provided that you don't start to take an income from it.

[jubberjim] 25/10/2024 08:35

'Doing a Jim'

I like it

Have added a few more down here couldn't resist.

Helps my average but that is all.

[action] 25/10/2024 08:25

How she is going to have strong pension funds to invest in uk. OK ppl can still invest 3600 gbp gross irrespective of income in pension

[davethehorse] 25/10/2024 08:24

Falling knife will 140p hold??

[mister md] 25/10/2024 08:09

But what about working people who choose to invest for the future rather than immediately spend all their money ?

[bbd2] 25/10/2024 08:06

Final buy order in at 138. Thought it would be optimistic but who knows in todays market!

[mcunliffe1] 25/10/2024 08:02

It's worth asking where the outflows are being ultimately housed.
The 25% tax free withdrawals have to have a decent home and one that is tax shielded otherwise the ultimate cost could be quite high.
I declined taking my £52k that WAS held in cash a couple of weeks ago, as I would struggle to shield the whole of it until next April.

And of course, CASH ISA's may also be hit.

Perhaps the biggest issue may be linked to those pension withdrawers who have taken the 25% for the first time - no previous draw-downs. They will now be restricted as to how much more they can pay into a pension pot. Perhaps that has been the real reason behind these scare stories undismissed by Reeves. Get everyone to draw-down, restrict what can be then reinvested and hence save a fortune on the tax boost provided to future pension investments.