At the end of the year you can just lob a big chunk of profit into the pension instead of paying tax on it. Or something like that.
Set up an executive pension, put your companies profit into the pension ( there are some limits but I think it is well north of 60K) You can do this on a yearly basis or if you want a few times during the year.
On retirement you can then set up an ARF. The exec pension offers you allot more flexibility than a normal pension.
Would there be big money in vending machines? Apart from the change like.
You get out what you put into it
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TFK just repeats itself over and over again.
It’s all been done before.
It’s the beauty of tfk
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In spades fella. Thanks.
In fairness, I’d never heard the vending machine one before.
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Wouldn’t trust a private pension scheme with brexit around the corner. Hold off a bit until the ‘Experts’ get an idea that the fuck is happening. And not playing Russian roulette with peoples money.
Don’t be so daft. The tax relief means you’d have to lose 40% in value before you’re actually losing. It’s a bit more complicated than that but anyway.
Brexit or no Brexit the world will keep going. Business will get done. People will get exploited. The rich WILL get richer.
People probably think the recession of 07/08 decimated pension funds forever too.
Dunno about all this tax relief. This is Ireland bud they tax your savings 40%
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Pension experts such as @gilgamboa and @Appendage would ye recommend to be in Passively managed pension funds or Actively managed funds? I’m guessing passive cos the “experts” can then react to what they see coming straight away and diversify or reduce risk whereas with Actively managed you’ve to be on top of that yourself? I think your man said there’s 0.25% or maybe 1.25% fees wit Passively managed funds however.
A passively managed fund just tracks an index, or combination of them e.g. it just tracks the FTSE or something. The actively managed funds should be a lot more expensive as they are engaged in investment decisions on your behalf
I checked my funds there. Split between passive and active funds. The fees you quoted seem high to me, is this a personal pension you are talking about or a company scheme
Passively managed funds don’t react to anything. Actively managed funds don’t require you to do anything, it’s an investment manager looking after them on your behalf.
Now as to whether you are better off with a passively managed fund or an actively managed one, it depends on whether the actively managed one is managed by a good manager 
Not an expert at all bro. Just know the tax impact and benefits.
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It’s a private pension I have with New Ireland Assurance. Your man told me actually I think 0.25% fee for passive funds, whereas their range of ‘ifunds’ carry 1.25% or something in fees. I’ll clarify that with him again. He definitely told me that the passive funds are ‘managed’ in that if I am in a high risk passive fund the fund manager can reduce the risk from high risk to more medium risk if he sees volatility ahead, for example. He said active funds is totally down to me. An example would be an alternative energy fund which while performing well right now could head south at any time and unless I’m watching the trends and ready to react that I would be leaving myself exposed in that fund while it continues to perform badly.
He more or less said the passive funds have better chance of success despite there is a bit of an extra fee with them. 0.25% seems very low as does anything under 1%.
Has he explained passive funds v active funds arseways to me?
You’d be a fool not to be tooling up on higher risk funds in your 30-40’s.
What you’ve described here suggests he’s got it totally arseways. He was telling me I should put money into prime equities which is doing well but to be aware that there’s small fees with that because of it being a ‘passive fund’. But prime equities isn’t tracking just one index shall we say it’s an accumulation of various indexes and markets and I guess they can pivot away from one a lot if they think there’s trouble ahead. Purely as an example let’s say 50% of it is in UK and Ireland equities but they might reduce that to 15% in the morning and move the rest into Asian equities let’s say. Maybe that’s where the extra management comes into it? In that it’s not tracking just one index.