https://www.bogleheads.org/w/index.php? ... ldid=66362
I have now (finally!) got round to trying to flesh it out with a description of the quagmire that is the current UK pension saving framework. Pension simplification in 2006 has resulted, predictably, in a laughably complex set of rules, limits, and tax traps, but I think I've caught most of them. The latest version is here:
If you have suggestions for improvements to the page (whether or not you're from the UK), or if you spot anything missing, wrong, misleading, etc., please let me know. (Or, of course, just edit the corrections in yourself :-) )
Still to do:
- Add a whole heap of citations, references, and links to back up the text and assertions made.
- Improve cosmetics, put warning boxes around tax traps.
- Better examples of effective tax rates, covering more combinations of tax bracket on contribution and on withdrawal; maybe a table.
- Show (tabulate) the history of the lifetime allowance (and its reductions) over time.
- More detail on auto-enrolment.
- A new page on defined benefit pensions. (I'm entirely unqualified to write this, never having had one. Any volunteers?!)