Investments for non-tax payers?

Try this,

Topping up your state pension

I agree with dan1 about the class 2 if its available to yourself. One of the reason myself and Mrs Aju found that the Class 3 was so valuable to us was that we both self retired with our employers DB systems when the pensions were "contracted out". This meant that when the new SP came along, whilst both of us had the right number of contribution years, we were losing out with the new SP having dropped the Serps/S2P elements. Ok we got more pension than the old system due to new rules on minimums as they withdrew our contracted out element and whilst they could not remove less than the old standard pension it meant that in my case my NSP would be considerably less than those people who were still working and therefore making contributions into the new elements of the state pension. 

So ex MP Steve Webb, who was pensions minister at the time and argued that we should be able to make Class3 contributions for the years up to our SP activation date, in my case 2020, they never actually said this was possible though. Whilst I agree with dan1 if I were self employed then I could have made class 2 but I wasn't so whilst the £700+ we pay for each year up to our retirement seems expensive - and it will be if I pop me cloggs too early - as long as we live longer than 3-4 years beyond my SP age then we will be in profit, After after a few years it will be very profitable IMHO so for us it's a no brainer option. Sadly I do not have enough years to make up to the full SP but Mrs Aju will have it so that's fine. I pay tax so thats a downer but hey it's not that bad.

As Mr Webb said at the time the new SP was to be cost neutral so there would be winners and losers. Whilst we were to be on the losers side, along with a considerable number of other DB contracted out people, in fact by doing this we are actually double whammy winners in my eyes. Our DB reductions are not that great that they would have been under the old scheme and the new scheme allows us to contribute as well and still not work again.

Hope that helps if not sorry for wasting your time and anyone else who cannot benefit.

Shame about the RPI move to CPI for inflation updates - that one has already cost us 1000's, yes I monitor what would have been just so I know how much to be distrustful of the political classes of all persuasions sadly.

If anyone is using Tesco current account for 3% on £3000 then in my case I've just got a letter from them stating.
In my case my Tesco A/c predated their newer one that Mrs Aju has whereby she has to have 2 DD and pay in a sum each month, I can't remember at the moment what it is we move 750 from each of our Tescos A/c by S/O as it means we can use it hands off. (Tesco is not like all the other banks and uses FP for its standing orders so no interest lost by using S/O lag)

Mrs Aju has not received anything as yet but I expect her account will similarly be affected.

Apparently there is also a web page for users to get more info - as far I can tell one does not need to be logged into this to see details.

I'll diary the 14th June and deal accordingly, I'm sure something else will come up in the meantime. We both use our current accounts in Tesco to shop in tesco and get points although since the recent changes there it seems Tesco is not that bothered about customer retention these days - well ones like us that is anyway. HTH

The Growth Street link I found on Google says £5k investment for £200 bonus.
Has it gone up or is there an alternative link for £2K?

Try this: www.growthstreet.co.uk/new-referral-bonus - if you'd like a referral link then PM me!

Thanks. Not sure how you have FOUR TSBs as they normally limit you to one. My second was a joint inherited from my late wife. Or are the second a/c ISAs?

Do let us all know if you find a good replacement for Tesco. I am happy with Marcus for a reserve fund.

I'm also looking for another p2p quick access other than AC’s useful QAA (for diversity) that pays somewhat similar



Re: Growth Street bonus, guess I’ve missed the boat on that, I seem to have opened an ISA a while back but not funded it yet. It’s sure to be the Opening and funding, not New funds😫 like some of the recent AC bonuses.

PM sent Ceejay, thanks.

For anyone North East based, the Newcastle BS have a Regular Saver that pays 2.25%.
Unlike most other Regular Savers it is not just a one year deal.
You can deposit £200 a month until you have deposited a total of £25k, so that is over ten years (if the account isn't withdrawn).