Major Site Upgrade in Progress |
|
ester
Stranger
Joined: 08 Sep 2004
Posts: 11
Cash Points ££ 55.00
|
|
|
 |
|
 |
|
 Posted: Mon Dec 20, 2004 1:22 am Post subject: How do you use savings to buy an annuity ? |
 |
|
|
 |
|
 |
|
|
|
|
I'll be retiring in a few years and will have a lot of savings in addition to my pension.
How do I go about buying an pensions type annuity with my savings, will it be treated the same for tax purposes, or if I can't get one, what else should I look at ? |
|
|
|
|
|
|
|
Deborah
Veteran Investor
Joined: 12 Jul 2004
Posts: 418
Cash Points ££ 1730.36
|
|
|
|
|
|
|
| Posted: Wed Jan 05, 2005 6:19 am Post subject: |
|
|
|
|
|
|
|
|
|
|
You can buy what is called a 'purchased annuity' which are different to the compulsory pension fund type annuties and the tax treatment on which is slighly more favourable as part of the income is treated as a return of the capital invested.
Personally, I think your better off not buying a purchased annuity as you would in effect be losign all of your capital for an annual % return you could probably get anyway without giving up all of your capital.
So maybe look at investments / savings instead of an annuity for your capital. |
|
|
|
|
|
|
 |
Online Finance Tools & Calculators |
 |
| Credit Score Calculator |
Easy to use online Credit Scoring tool - Calculate your credit score now online for FREE ! using the Moneyforums.co.uk credit scoring tool. Also TEN Tips on improving and mainting a good credit rating ! |
|
| Quick Health Calculator |
Easy to use quick health calculator to help you get started on the path to fitness. Calculates your body mass index (BMI). |
|
| "When will I die ?" Calculator |
Calculate when will you die based on your current life style and then more importantly what you can do about extending your lifespan ! |
|
| Mortgage Calculator |
Easy to use online Mortgage calculator tool - Calculate how long it will take to pay off your mortgage and what your monthly repayments will be as well as interest charged per month per each year. |
|
| Savings Calculator |
Use the flexible savings calculator to estimate the amount of interest you would earn given a level of monthly savings, with many optional settings. |
|
| UK Tax Calculator |
Check your tax and NI liability using this easy to use online tool. Outputs, Tax, Ni, Net pay and gross pay on an annual, monthly and weekly basis, also estimates your tax burden and the number of days a year you work for the tax man ! Plus lots of tax saving tips. |
|
|
 |
|
 |
|
Money
Forums Guides |
|
| Credit
Card Stoozing |
The
following guide explains the basics of credit
card stoozing in a step by step basis. |
|
| Discount
Vouchers |
Online
discount vouchers giving upto
50% off in stores such as Dixons,
Tesco, Avon, Currys, Boden and more. Many
of the vouchers are time limited - So check
back regularly |
|
| Money
Saving Guide |
Guide
to saving money on household bills & personal
finances - Start saving thousands of £'s
every year TODAY ! |
|
| Savings
Tree |
A
guide to Savings Accounts, from Cash ISA's to
Regular Savers to Premium Bonds, all explained
in an easy to understand manner. |
|
|
Users
Groups | Profile
| Messages
| FAQ | Sponsers
& Links | Member
list | Recommend this site | Top Money Saving Sitee
© 2004 - 2007 Moneyforums.co.uk / Market Oracle Ltd - Asserts copyright on all topics & posts made on this site. Moneyforums are open forums, and thus posts are NOT endorsed by Moneyforums.co.uk / Market Oracle Ltd . Any and all information provided within the Website is for general information purposes only and nor is or shall be deemed to constitute, financial or other advice. We recommend that independent professional advice is obtained before you purchase any product and/or service. All tools and guides are provided as is for general information purposes only.
|
|
