Intelligent Money - your investment questions answered

[JulianPH]

renmure said:

JulianPH said:

renmure said:

What a beast Jim!

I'll pass that message on, but might wait till she's finished making dinner incase I end up wearing it!!

The dog Jim, not Wendy!

[JulianPH]

911pleb said:

Had a chat with NHS pensions today. I recently left the NHS so wanted to transfer my pension into a SIPP but apparently they dont allow it as people were being silly and investing in dodgy Gold Mines or something?

Have you (IM) ever had an NHS pension transferred over for you to manage?

Thanks.

This is one for Nik. In a previous life he was an optician and has done lots of work like this with former NHS staff.

[KTF]

JulianPH said:

KTF said:

Thanks Julian. I will drop Nick an email about this as I would like my son to get the ‘best’ out of this windfall rather than it sit in an instant access account.

He will be very happy to help you decide on the best way forward in this.

Just sent him an email now with the details. No rush to reply as it isn't urgent.

[JulianPH]

KTF said:

Just sent him an email now with the details. No rush to reply as it isn't urgent.

He is out all day doing his last meetings with other PHers before lockdown 2. So it will probably be tomorrow now.

Cheers

Julian

[xerawh]

JulianPH said:

911pleb said:

Had a chat with NHS pensions today. I recently left the NHS so wanted to transfer my pension into a SIPP but apparently they dont allow it as people were being silly and investing in dodgy Gold Mines or something?

Have you (IM) ever had an NHS pension transferred over for you to manage?

Thanks.

This is one for Nik. In a previous life he was an optician and has done lots of work like this with former NHS staff.

911pleb - will you share your findings once you've heard back (general rather than personal details). My brother's a dentist and he's been told he can't transfer his NHS pension out for any reason but would be good to let him know there may be a possibility.

[JulianPH]

xerawh said:

911pleb - will you share your findings once you've heard back (general rather than personal details). My brother's a dentist and he's been told he can't transfer his NHS pension out for any reason but would be good to let him know there may be a possibility.

Hi mate, I am more than happy to strip the personal details out and just post the facts,

Cheers

Julian

[Intelligent Money]

911pleb said:

Had a chat with NHS pensions today. I recently left the NHS so wanted to transfer my pension into a SIPP but apparently they dont allow it as people were being silly and investing in dodgy Gold Mines or something?

Have you (IM) ever had an NHS pension transferred over for you to manage?

Thanks.

Hi 911pleb,

The NHS scheme and a number of other Public sector, so essentially government funded schemes, have some tight restrictions around transfer out options.

For the NHS scheme broadly you can transfer out into another approved defined benefit scheme or another occupational scheme that is a member off the public sector transfer club. From 2015 the trustees will not allow a transfer out into a DC scheme.

Cheers

Nik

[911pleb]

Thanks Nik. I thought that may have been the case.

Ill drop you an email to discuss my options.

[Ben Lowden]

I'm looking to set up a Junior ISA or similar for my daughter. Won't be big money going into it, at a guess right now maybe circa £1K per year and I'm happy to lock it away until she's 18. Rates with high street banks feel pretty feeble for such a long term investment so appreciate any suggestions!

[JulianPH]

Ben Lowden said:

I'm looking to set up a Junior ISA or similar for my daughter. Won't be big money going into it, at a guess right now maybe circa £1K per year and I'm happy to lock it away until she's 18. Rates with high street banks feel pretty feeble for such a long term investment so appreciate any suggestions!

Hi Ben

I use a Stocks & Shares Junior ISA for my daughter as you are right, the time frame available for market returns makes cash rates look very unattractive.

Obviously we offer this and have a wide range of investments (discount code is PH2607) available in our Junior ISA and other low cost providers, such as Vanguard, are also worth looking at.

I also found that as my daughter got older it was very useful in educating her on the value of long term investing.

If you want to chat over any of this then please feel free to contact Nik ([e-mail]), PM me directly, or just post here!

Cheers

Julian

[uk66fastback]

I think I am going to look to move my current work pension which is with Standard Life - it's a group/company set-up one I think. If I wanted to move this with the last payment being at the end of January, I guess I'd better start asking SL now ... (bearing how long they seem to take).

[JulianPH]

uk66fastback said:

I think I am going to look to move my current work pension which is with Standard Life - it's a group/company set-up one I think. If I wanted to move this with the last payment being at the end of January, I guess I'd better start asking SL now ... (bearing how long they seem to take).

Please remember that you will lose any employer contributions if this is your current work pension.

We will also handle all aspects of the transfer for you if you decide to go ahead, so you don't need to contact SL at all.

I would have a chat with Nik before doing anything though ([e-mail]) as you really don't want to lose the employer contributions.

Cheers

Julian

[JulianPH]

Chris and Jenson laughing at Nik!




They call him Arnold J Rimmer

[Ben Lowden]

Thanks Julian, will drop you a line!

[JulianPH]

Ben Lowden said:

Thanks Julian, will drop you a line!

No problem Ben!

[dingg]

JulianPH said:

dingg said:

CharlesdeGaulle said:

For PH Recovery fans, any thoughts on adding to the losses investments?

I've been adding, it's not worked yet....

It is going to take more time given the wave, I am sorry to say.

I think the ship is starting to turn, waves or not.

😁

[PaulWoof]

dingg said:

I think the ship is starting to turn, waves or not.

??

if every day was like the last couple, I could buy my own boat

[dingg]

PaulWoof said:

if every day was like the last couple, I could buy my own boat

Yes it's been a quick turnaround, expect another wobble wrt Trumpian legal challenges maybe, who knows?

[Phooey]

JulianPH said:

Chris and Jenson laughing at Nik!

Please tell me he wasn’t doing his elephant trick again was he

[JulianPH]

Phooey said:

JulianPH said:

Chris and Jenson laughing at Nik!

Please tell me he wasn’t doing his elephant trick again was he

He probably was!