Phoenix Share Discussion Threads

[skinny] 09/10/2024 06:18

Just my thoughts, but I can't see how they can change the 25% lump sum - surely its in too many people's long term retirement planning?

Unless they introduce it in a phased manner - decreasing the percentage over the coming decade or more?

Also, surely the lump sums when spent - help the economy?

[jubberjim] 09/10/2024 05:45

Thanks everybody for the thoughts

Very insightful most of them.

In line with the thinking put forward am going to definitely hold off on any further inroads into my cash reserves.

There are still quite a few months until the filling (final dividends) will be revealed so seems to be the sensible option for now.

Good luck

[pete160] 08/10/2024 22:08

Regrettably I can't access my pension lump sum until next February but, if still able, I intend to take as much out tax free as possible and as soon as possible.I just don't trust this, or any other government, not to keep messing around with pension limits, reliefs and thresholds, all of which make them less attractive, not more attractive. However, like many I suspect, I will just reinvest it outside of the pension wrapper, at least until it's needed to report the BTL mortgage in a few years time.

[netcurtains] 08/10/2024 20:45

Yes queues around the block 😀

[my retirement fund] 08/10/2024 18:33

Yes I have. I gather many pension companies are struggling with the rush with some reporting long delays. Of course, such instability and turmoil harms the industry, and Phoenix, it's not good at all.

[mcunliffe1] 08/10/2024 18:00

Just a thought before Bourbon and Dry Ginger time:

Is anybody pulling their tax-free 25% out of their pensions just now in anticipation of that facility perhaps disappearing on or just after 30th Oct.?

If so, will such widespread extraction have a bearing on PHNX and also perhaps ABDN, LGEN etc?

Cheers!

[jubberjim] 08/10/2024 13:34

UBS

Are talking through their hat

This produces 10.25% at these levels but such is the nervousness gripping the markets that it goes under the radar.

Until the markets get a grip I will continue to sit and sulk and do nothing

Be good all

[fenners66] 07/10/2024 11:15

Don't forget Sue Gray's Envoy non-job on £170k....
They don't say she took a pay cut to move. Thinking about it, she probably got a pay rise...

[badgal] 07/10/2024 09:20

It was mentioned earlier in the year…. insolvency issues? Potential take over?

[shbgetreal] 07/10/2024 08:54

Anything those charlatans downgrade goes straight to the top of my 'potential adds' list.

Investment banks and their 'analysts' - lol.

[mcunliffe1] 07/10/2024 08:28

My wife received a £30 increase in her tax coding when she worked for a estate agency company. This was to cover her costs in respect of cleaning her uniform. The uniform was provided by the estate agency but no cleaning regime.

Now, perhaps 30 years after leaving the employ, that increased tax code still sits on her record.

Joe Say: the report explained that teachers are often paid over £50,000 (heads, deputy heads, etc etc) and the unions felt it would be unfair to penalise public employees who have provided a lifetime of service to the state. I mentioned the employer contribution by way of ameliorating the 'pain' that could be felt by such selfless toilers for the state.

[jubberjim] 07/10/2024 08:12

I would imagine tax relief on dry cleaning should be high on the agenda.

That can apply from the highest in the land to the lowest of the low.

No excuses for the self entitled few

[joe say] 07/10/2024 08:04

But employers contributions would be irrelevant surely?

All that counts is what the EE contributes.

[mcunliffe1] 07/10/2024 07:53

The Mail today reports that the unions have advised Rachel to avoid hitting pensions in respect of the flat-line tax relief.

They say it would unduly affect public sector workers as many teachers etc. earn over the £50,000 figure mentioned and they would be in for a £1,000 tax bill.

I suppose such is the perils associated with over 28% 'employer' (us taxpayers) contribution towards a teachers salary.

[jubberjim] 07/10/2024 07:43

Think maybe fed up as am I with the inertia currently enveloping the FTSE until Rachel Reeves has her say .

Lethargy rules

[cumnor] 06/10/2024 22:29

And this from a company (thanks to CS) about to be declared insolvent within 6 months-wait and see.

[gbh2] 06/10/2024 18:11

UBS has downgraded shares in Phoenix Group Holdings PLC (LSE:PHNX) saying the "risk-reward" equation is now "balanced".

In a short note to clients, it moved its recommendation to 'neutral' from 'buy' with a target price of 530p, down from 610p.

"Low solvency and high leverage remain risks to investment case," UBS said. "However, [the] payout ratio and falling IFRS equity risks remain overdone."

Published: 4 Oct 2024

[growthpotential] 04/10/2024 17:01

UBS downgrade on solvency(?) wowzers

[lord gnome] 04/10/2024 16:51

Bad for the economy but ultimately good for the planet.