The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I've done a couple of very small top ups. I am very confident some sort of deal is being worked through. If this was not the case UBS and DLA Piper would not still be around.
other companies have dipped before a massive uplift. You only have to look at what happened with Novacyt and the derampers slating it before BOOM. Can't wait for the BOOM and rockets to be shown here.
Tillywiz it is great to get this information every day. It helps to understand what is going on behind the present price and where it is likely to go.
I am sure many others on here feel the same.
The important question is where the share price will be end of March 2021. Company will be producing 5 million per month and the price will be higher than it is today.
Me to guys. Lost loads on sirius and this has been a lifesaver. Started investing at 1.8p and somehow managed to sit on my hands all this time. Thank you to the person who mentioned this great company last October.
It's never a level playing field. AA are in potential bid situation and the consortium have until 5pm on 24th to submit bid.
At present it's up about 4p today (about 13%). Suggests a bid incoming but what would we know.
I think we'll know when a bid is going to be announced here. Won't have to wait for red dot to know.
Withdrawing your pension under age 55 from money advice service
If you put ‘pension release’ or ‘pension unlocking’ into Google you will get dozens of sites up encouraging you to do this. Some even tell you that you can ‘sell’ your pension (which you can’t) and others talk about offering a pension loan.
While accessing your pension before you’ve reached the age of 55 is not illegal, it’s not advisable unless you are covered by some very specific circumstances . There will be substantial charges from the company or third party acting for you and as this is seen as an unauthorised payment by HMRC you will be hit with a 55% tax bill on the amount you withdraw.
Your pension provider must, by law, tell HMRC when you withdraw the cash. So HMRC will find you and pursue you for the tax you owe. You will have to pay the tax even if:
you didn’t realise you had broken the tax rules
you offer to put the money back in your pension
you have paid fees or charges to the company involved
you have spent all the money.
The firms that arrange pension unlocking for the under 55’s are often not authorised by the Financial Conduct Authority, so if anything goes wrong you will have no protection.
Example
If you had a pension pot of £70,000 and withdrew it all before you were 55 you might pay up to 30% (£21,000) in commission to the third party that organises this. In addition, you would have to pay tax of £38,500 (55% of £70,000) meaning you would lose £59,500 and have just £10,500 left (that is, if your money isn’t stolen).
Are there any circumstances when I can withdraw money from my pension pot before I retire?
Over 55
If you are 55 or over, then yes, you can access your pension pot legitimately even if you have not retired. Anything over 25% will still be taxed, but at your normal tax rate(s). However, think carefully about this and make sure you leave enough for when you do stop working. Book your free guidance session with Pension Wise before doing anything so you can get the facts.
You can also find out more about your retirement income options here.
Under 55?
There are two instances when you can do this.
The first is if you’re too ill to work or if you have a serious illness which means you’re expected to live for less than a year. However, you won’t need to deal with a third party to do this – contact your pension provider and they can explain how this works and tell you if you are eligible. You won’t get the huge tax bill if this applies to you (it will be treated in the same way as an authorised payment from a pension pot) and any charges imposed by your pension provider will be far lower than a third party. Many providers won’t charge you at all.
Secondly, you can access your money early if you have a ‘protected retirement date’ specified in your pension plan. You had to have this right granted before 6 April 2006. An example of someone who might have a ‘protected retirement age’ might be a professional sports person.
Thanks for the info Ragsbob. I have most in sipp and a little in ISA. I don't know how that can work with regards to SIPP as they cannot take the money out of a pension and any gains help in a pension are not taxed.
Not saying they are wrong, but am dubious, what do you think !