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An earlier thread was discussing lottery winnings and this link was referenced, which compares the powerball payout as a lump sum payout vs the 30 year annuities option. Looking at the numbers, the first reaction is that by taking the lump sum, a lottery...
Started by drillrod on
, 37 posts
by 29 people.
Answer Snippets (Read the full thread at straightdope):
Besides, in this economy Lottery thinks you should take the annuity .
It will last me my lifetime and beyond.
FWIW, I'll take the lump sum.
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Has anyone seen the article written by Pelican Consulting about the tax on lump sums. In a nutshell, it argues that lump sums are NOT taxable under the new legislation because they are not a capital benefit but merely a return of contributions. They go...
Started by Mangetout on
, 15 posts
by 1 people.
Answer Snippets (Read the full thread at france-forum-frenchentree):
This is a special tax on pension lump sums.;
Technically only 25% of the....
You can choose either to have the lump the lump sum taxed at 7.5%.
Where the lump sum is taxable at 7.5% after the 10% abatement.
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Hi Ladies and Gents
I wish to get advice on where to deposit a lump sum.I do not require access to this money so Where should i put my saving, What are my best options.The criteria i have is that my money is safe and the term,max 18 months? Should i split...
Started by REOS on
, 11 posts
by 7 people.
Answer Snippets (Read the full thread at askaboutmoney):
If Ireland is forced to exit the Euro after Greece goes, your savings would be obliterated... .
Safest? best rate? best online service?
How much do you have to deposit? Personally, I'd look at one of the offshore banks .
What does "best bank" mean to you? ...
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When playing the lottery, which payout do you usually pick? Why?
Even if you don't play, which payout would you think is best? Why?
For those of you wondering what I mean...
Lump Sum is when you get half the jackpot now.
Annuity is when you get the jackpot...
Started by VamPyroX on
, 26 posts
by 13 people.
Answer Snippets (Read the full thread at alldeaf):
That would bring it down to about $$ go to my... .
Take the lump sum and live off the interest.
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I am looking at early retirement options. I would be retiring 2 years early from Teacher's Pension Scheme. I also have AVC which provides a pot of about £88000. To boost the annuity pot, is it possible to add my lump sum from TP (£32000) to the £88000...
Started by KHurrey on
, 11 posts
by 8 people.
Answer Snippets (Read the full thread at moneysavingexpert):
It may be possible to use the AVC to pay lump ....
However seeing as you could use the lump sum to buy bother? It may be better to not take the lump sum from the TPS.
Into a pension in order to get double tax releif .
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Hi Folks,
I have a question regarding my mother's pension that I hope you can help her with. She is 59 and still working. She plans to work until at least she is 62, possibly even later.
She has an old-fashion pension from a former employer that will ...
Started by JeffMor on
, 15 posts
by 12 people.
Answer Snippets (Read the full thread at morningstar):
The only reason I can think of to take....
To support $23K/yr at 65+ for life, you will need $350K-360K in lump-sum.
If she believes she can get more than a 5.4% return after taking a lump sum for comparison.
Value of $196,000.
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Hi Folks,
I have a question regarding my mother's pension that I hope you can help her with. She is 59 and still working. She plans to work until at least she is 62, possibly even later.
She has an old-fashion pension from a former employer that will ...
Started by JeffMor on
, 11 posts
by 7 people.
Answer Snippets (Read the full thread at morningstar):
An annuity of 1916.67/month, assuming....
To use it, use monthly amount then automatically gives you is the lump sum required to generate this monthly annuity.
It appears that lump sum of $196,000 right now is a very BAD deal.
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Ten years ago i was offered a lump sum of £10,000 and an annuity starting £58 and rising 5% each year. I was unemployed at the time. This all came to light because i was misold private pension. I have for the first time recieved a P60 from Friends Life...
Started by col2462 on
, 20 posts
by 6 people.
Answer Snippets (Read the full thread at moneysavingexpert):
To get this lump sum and the annuity at the time 10 years ago? I have contacted hmrc and they are going to investigate.
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I've not done any research into this, so apologies if the answer was staring me in the face - but if not, here goes.
How do you legally declare the taking of a UK pension pot under the triviality rules - ie 25% tax free, but the rest taxed. This applies...
Started by jeffcooper on
, 11 posts
by 1 people.
Answer Snippets (Read the full thread at france-forum-frenchentree):
You can choose either to have the lump sum taxed fully as income, but ticking box AT on page....
Removed the 1/15th rule, and introduced revised draft legislation, where the lump sum is taxable at 7.5% after the 10% abatement.
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I've noted that there are some here who suggest asking on the forum rather than asking the tax office, so before I go and see them can anyone answer the following, please.
Last year I was able to take a lump sum from my pension fund to make a loan for...
Started by ZombyWoof on
, 11 posts
by 1 people.
Answer Snippets (Read the full thread at france-forum-frenchentree):
A loan ( which needs:18 AnOther Maybe ....
A lump sum pension.
Hi!
Now it is several separate things.
I was able to take a lump sum from my pension fund to make a loan for my daughter to buy a house - I think in advance.
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