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We were given the option of moving with the work which was 3 hours drive away or taking the redundancy package. We were given financial advice and told the maximum you can take as tax free cash was £30k. If I wanted to take the lot as cash the £18k would have been taxed at 40%.
Thanks for the heads up but it's 25% per pension I believe.
I'm 55 in March. I've decided to start taking the DB BTPS as I need the lump sum to help me move to a bigger house so my elderly mother can move in with us. Also before the quote drops again and or Mr Starmer possibly abolishes the 25% lump sum altogether!
I'll then pay most of the monthly payment into my new employers DC scheme. It doesn't count as recycling as I'm drawing from a DB scheme. Therefore MPAA does not apply as far as I know. Then at 60 drawdown the DC pensions..That's my plan anyway.
The BTPS stopped taking payments in 2018 and so is frozen. That was a DB scheme. The new one that replaced it was a Standard life DC scheme.
A hybrid type option was introduced in 2019 so you could opt to have 50% of your contributions in a DB type and 50% DC. But it's a new DB scheme. Neither are linked to the BTPS.
We all got a months money for every year with a maximum of 12 years. So 12 months money. £30k cash tax free and £18k into my pension also tax free. I was a C3 on business connections repair. Our team of 20 dealt with the whole of the UK. Ethernet, NGA, Megasteams, ISDN30 etc.
I was made redundant by Openreach last year after they decided to close all buildings in the South East. I walked straight into another similar paid job with 48k in my pocket (cash & pension). In our building alone it cost £19m in redundancy payments. Most of the staff were well over 50 and probably would of retired soon anyway. Plus we could and had been doing our work from home with no negative effects. Anyway...thanks BT for the cash. Just a shame I have a shed load of shares. Let's hope the divi stays where it is.
Also for the record I've had a podpoint charger for over a year. No issues since it's been installed and it works flawlessly. Getting it installed though was another story altogether.
My 4500 @ 31.55p buy showing as a sell.
Hi Stu
I'm with Fidelity and they're not showing on my account either. I sent them a message asking why and this is their response.
As per the notification, you will receive 1 Poolbeg share for every 2.98 open orphan shares held on 15/06.
I kindly advise you to read the documents provided in full. Regarding the shares being added, our Corporate Actions team have confirmed that we won't be adding the shares yet due to Poolbegs restrictions. This doesn't, however, leave you disadvantaged in any way.
Saying that I have bought via ii and Jarvis and both account the Poolbeg shares are showing with zero value.
Hope this helps.
My 3000 buy appears as a sell.
Annoying
Just topped up @ 30.1p. I hope that's the bottom.