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1

General Discussion Area / Re: Small Pot Pensions....

« on: 02 September 2025, 15:55:08 »

Can you explain crystallisation?

One of the  'naughty' but conditionally legal things you can do is crystallise £100K, take the £25K TFLS, and then pay it straight back into the pension. If you're a 40% tax payer, the tax man will gross up your £25K, to (effectively) £42K, and the pension co will add that into your uncrystallised pot. So you end up with £942K in the uncrystallised pot, and £75K in the crystallised pot. Don't touch the £75K crystallised pot, rinse and repeat for a few years......There are rules and regulations on what is called pension re-cycling, but with a bit of planning you can do this perfectly legally.

except the money purchase annual allowance will apply so you'll not get tax relief on anything over £10k going in to the pension??? ah i see, not withdrawing the taxable bit gets around it, sorry

2

General Discussion Area / Re: Small Pot Pensions....

« on: 22 July 2025, 20:29:17 »

reading between the lines a bit here but i am guessing these are defined benefit pensions and the scheme is in the process of winding up and transferring to an insurer.  that is what Rothesay life are.

if that is right then i expect the lump sum offered is known as a winding up lump sum and as you have commenced your pension, taxed as income.  The offer letter you have received should say this somewhere.

It seems like you are being taxed at 45% on the £80 per month pension.  You'll have to check if that is right but if it isnt you may need to sort it with HMRC, possibly completing a tax return.

also building on LC0112G's comment about 8.85 years,  don't forget the contingent spouse's pension which will be extinguished by a winding up lump sum.  its the only time it happens, normally commutation of pension for lump sum only impacts yours and not your spouse's. 

The main reason for this being offered in winding up scenario is that the operating cost of paying a small pension is material vs the pension ( payroll/admin etc)  cleaning up small pots makes admin simpler. 

hope this helps

3

General Discussion Area / Re: car insurance (lies)

« on: 04 July 2023, 12:22:53 »

If you had legal protection cover AND IF it wasn't your fault ...
you can put in a claim for "un-insured loses"
like a hire car till a replacement car can be found

And companies such as Cheif Vehicle Rentals exist for this very purpose. But it is a form of credit purchase for the ability to pay and claim.

or the small claims court which can be very effective at moving an insurer along... ( or better still take action against the other driver if they have a few quid,  up to them to pass it to their insurer and if they faff - judgement in default)

4

Omega General Help / Re: Brand exhaust???

« on: 09 March 2023, 13:48:01 »

try getting your hands on Polm  https://polmostrow.pl/en/katalog-en/

they were the brand that Eternal sold

5

Omega General Help / Re: Garage recommendation

« on: 09 October 2022, 20:37:32 »

Cotterrell auto services in meer end cv8.   

6

Car Parts, bits For Sale & Wanted / Re: Crank sensor and cam belt locking kit

« on: 13 September 2022, 21:12:34 »

Any takers before they go in the bin?

7

Car Parts, bits For Sale & Wanted / Crank sensor and cam belt locking kit

« on: 25 August 2022, 17:48:20 »

I have a spare crank sensor for a v6. 90492061. Genuine Siemens VDO

Also have a Sykes locking kit and cranked spanner

Both for sale for sensible offer.

8

General Discussion Area / Re: Our solar electric

« on: 16 July 2022, 15:00:40 »

I've been pondering fitting a DIY 12V solar system like they use in caravans and boats etc just for lights.

My house is a bungalow, so wiring in a 12V DC lighting circuit alongside the existing 240v light circuits would be fairly straight forward, and I'd have thought that modern 12V LED lights would throw out enough light? 

Last time I looked, the solar panels, a control unit, a few leisure batteries and other bits and bobs would probably come in at under £1500 and my house is kinda SE facing so I get plenty of sun in the mornings.

I'm not sure if I would save enough just on the lights to make it worthwhile though. 

It would probably look a bit 'Heath Robinson' as well, so I'm not sure my neighbours would approve either! 

Add on another grand and you could have 12 panels 3.6kw inverter grid tied.diy fit. Much more useable

9

General Discussion Area / Re: Our solar electric

« on: 16 July 2022, 07:55:43 »

Given the prices that MCS approved fitters charge the only way to get 4-5 year payback is DIY fit I’m afraid and I would suggest buying the kit in the winter now. No way you’ll get anything decent before September

10

General Discussion Area / Re: Our solar electric

« on: 15 July 2022, 06:03:39 »

Not yet

But my plan is for a 5/10 acre solor farm (Field basesd)
Plus roof panels over my garage extention.

Also looking into solor roofed green house.

Plus looked at Ground force water & heat supplies etc.

Lots of daft questions in my head still.  Prob the daftest one is what happens during a power and the batteries are full, what happens to the leccy that feeds back into the grid - do the neighbers end up on free power?

Also looking into Bio mass boilers, need underfloor heating for the garage extentios & keeping the pool warm.

Cost versus return obviously a big thing

5/10 acres is a big investment. And will take a lot of effort to get going. Getting it past planning for one thing.  Plus you could be looking at a substantial bill from the DNO to upgrade their equipment.

Then need to look at the tarrif you get cos I doubt it will be micro generation

11

General Discussion Area / Re: Our solar electric

« on: 14 July 2022, 17:34:26 »

Got a 3.6kw system here. I reckon 3 -4 year payback period including batteries which should arrive in September

12

General Discussion Area / Re: Glastonbury music festival

« on: 26 June 2022, 19:27:06 »

Can someone tell Dianna Ross she's waaaay off key please

Every time she is mentioned I cannot help think about Jim Davidson’s Diana Ross joke…..

13

General Discussion Area / Re: U.K. Rail Strike

« on: 21 June 2022, 13:45:25 »

its quite sad really.  i have personal experience of "sitting across the table" with a number of union guys.  the majority of the local union reps work hard for the interest of their local workforce.  I have a lot of respect for them to do that.  a few see it as a political role and it undermines what they are trying to do.

when you head further up the union structure it tends to get more politicised and less about grass roots workers issues and i feel that undermines the work of the local reps.  Its not always the case however I know one national rep @ unite ( i will not name) who when he gets off his political soapbox is a thoroughly reasonable chap to deal with and tries to do sensible things.

sadly i fear this dispute is politicised and it is undermining the real issue here that no one has really cottoned on to:  most workers in the UK are facing a below inflation increase - public or private sector.  However there are millions of public sector pensioners who are going to get an inflationary pay rise.  but they don't contribute to the economy do they?   a real social imbalance going on...

14

Cars for Sale & wanted / Re: 2.5 saloon reflection spec for sale 1999 V. Pre facelift

« on: 15 June 2022, 05:25:51 »

Subject to actually doing the deal I think this is sold. So if someone could kindly lock the thread it would be appreciated.

To those who have contacted me, thanks for the interest

15

Cars for Sale & wanted / Re: 2.5 saloon reflection spec for sale 1999 V. Pre facelift

« on: 12 June 2022, 14:45:42 »

Reply sent James