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Pensions Planning: The NUMBER
The NUMBER is how much income you need to "live comfortably" So What's your number? Very important for pensions planning, to know what you are aiming for. My Number? (for a couple) I calculated: £22,000 based on Food £5,000 Car/transport £5,000 Bills/Utilities £4,500 Holidays/Leisure £4,500 Clothing/Cash/Xmas/Other £2,000…
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Success Stories - Pensions
This is a bit of a light topic where the idea is to highlight what successes you had with your pension pots. Example - I contributed X and accumulated Y by Z year. Total appreciation was 'x' percent. Just trying to learn the following that could inspire a range of people - those with no pension, those who started late etc.…
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Acronyms etc..
Hello to all. As a fairly new forum user I would appreciate someone posting a key to the acronyms and arcane terms used when discussing pension issues. Thank you in advance.
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Pensions, Annuities & Retirement Planning Sticky
Welcome to the new Pensions, Annuities and Retirement Planning sticky! 👋 📖 Here are some Forum threads you may find useful (if there are any you think have been missed, please do let us know): * Can I cash in my pension? * Early-retirement wannabe * It's time to start digging up those Squirrelled Nuts!!!! 📝 And here's some…
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What to do if old pension provider is stating they hold no 'liability'?
I would be very grateful for any advice on this subject, would the ombudsman be able to help or am I going on a wild goose chase? Basically I was employed by a registered charity for a year in the late eighties during which I paid into their private pension scheme as well as paying NI contributions. I have a statement…
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The impact of inflation - yikes!
I retired 5 and a half years ago at 60. Since then I've been drawing on a private pension for income. Looking at purely numerical values my pension and savings have increased by a little over 31% in that period. I decided to see what impact inflation has had and…wow. Using CPI I'm worse off, using CPIH I'm treading water.…
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DB/state pension only - how much contingency kepts in savings/investments?
kind of parallel to my ‘death is expensive’ thread but this is more about day to day stuff. At state pension age I’ve estimated my DB and two state pensions will cover all our needs - essential and discretionary. so our DC funds (and early DB) is focused on the bridge. after all is said and done we estimate to stop needing…
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DB Pension take lump sum or not?
My wife has an old DB pension.She has been offered a couple of options at the moment which are Full pension £12270pa or reduced pension of £9250 pa plus lump sum of £61560. She still has 8 years before she collects her state pension ,I'm already getting my state pension and have some small pensions which I will look into…
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First year of retirement
Dear diary and all, I am starting this diary as a record of my first year in retirement. OH and I both officially retire at the end of August, at the moment we are on annual leave until then. There is quite a lot of advice about the financial planning aspects approaching retirement, but I have found less about the reality…
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I want to retire early - how can I plan for it?
I turned 40 this year and reasoned that another 25 years at the coal face in my industry is not as attractive as it was when I was 20, so I'm looking for a way out that doesn't leave me potless in retirement. I am fortunate enough to have been very lucky with some investments in the Stock Market a few years ago so I have a…
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Early retirement next year, is it worth adding to my pension?
I am 54, looking to retire early next year when I am 55. I currently work part time and pay 5% into workplace pension, employer adds 3%. This pot has around £16k. I have two DB pensions, one which I plan to start taking next year which will be approx £6k per year. I will top this up with savings for day to day living,…
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state pension - first part year
I'm getting very confused helping someone with their Self Assessment tax return and the state pension. Firstly, although everything seems to say the pension increased 6.4.26, it actually seems to increase the next full week, not mid week. In other words, if a pension is paid Thursday - Wednesday, the uplift is effective…
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bond ladder - now or later?
been playing with bridges. I do plan to have this money mostly in fixed income. slowly moving into IGL5 with the view of maybe some CSH2 before retirement to fund the bridge each year as needed with low volatility funds or a bond ladder to lock in yields. However, the question then is ‘when’. playing with ChatGPT and…
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Drawdown Pension
I recently took my drawdown pension as income although I continue paying in. i have been advised by the company the max I can now put in one year is now 10000 including tax relief. I have also been told I cannot go back 4 years to use up unused allowances! Is that correct?
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"Average Earnings Growth" and triple lock
The triple lock is based on the "Average Earnings Growth" figure for July 2025 (released in August 2025) and the CPI for September 2025. Does anyone know what the "Average Earnings Growth" figure is for this July? I'm finding it very difficult to track down and find out if it's the figure including bonses or not.
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New Capita-run Civil Service Pension Scheme - problems (what a surprise!)
So, Capita have taken over the admin for the CSPS and their new website and members portal went live this week. I have just registered on the new portal and am not in the least bit surprised to find that the information available on the new portal is very scant and incorrect in terms of my length of service. With…
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Three Old Pensions, what to do with them?
Hello, Sorry if this has been asked several times before, I am slightly overwhelmed with a lot of information that I don't understand. I currently have three 'old' pensions from previous employers that are not doing a lot. They haven't had any contributions into them for over a decade, and have been sat there with very low…
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Bold leap into retirement
Morning all, I hope you have managed to find some time for yourself in what can be a busy period. We have enjoyed spending time with family over the last 3 days, it’s a quiet one today, then off to visit more family tomorrow. I’m not planning anything wild for NYE, but have been really starting to think about what I want…
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Should I contribute more to my SIPP?
I'm in a fortunate position. I earn c£60 gross, and can expect c£20k in savings interest this year. I have a SIPP of £35k (so far) and will have a significant DB pension too. I would rather avoid paying c£8k of tax on savings interest, as well as potentially staying below the 40% tax threshold. Everything I can get into…
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What happens if you straddle pension age increase?
On 6th April 28 minimum pension age increases to 57. My DOB is Oct 71. If I start accessing a DC pension from Oct 26 (age 55) can I continue? Or on 6th April 28 (age 56) will there be limits on how I can access my pension? What are the guidelines? I'm thinking I would be able to access crystallised funds in a drawdown…
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Pension drawdown and tax; now or later?
I am in receipt of the state pension, but have a pension fund that needs a decision. I will I draw out the 25% as cash and put it into savings or ISA. If there is little tax free entitlement left, am I better taking it and putting it into a savings account; 4.5% seems available, and pay the 20% tax now, or get an fixed…
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Old Pensions, Advice Please
Hi, I have 3 old pensions with a single provider that are connected and I am not allowed to separate or add to. I currently am looking to draw down about half the balance which obviously I am not allowed to do. My query is, should I transfer all the funds to another pension and then draw down just what I need? Or Should I…
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Quick sense check for my brother's fire service pension options
Hi My brother is being made ill health retired at 49 from the fire service (bad back) - below is snapshot of benefit options. It looks pretty clear to me which option he should take, but just want to check that there's only one real sensible option…. I believe he has a choice of being in Legacy or Reformed Benefits plan:…
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Should I start to empty my SIPP
I have just over 500k in my sipp. I'm 63 next April. No debts, kids, mortgage, don't go on holidays and don't really spend on anything apart from household bills.No plans for spending in the future. I have a ltd company with no other directors or employees. I stopped taking a wage last year. I already have 35 yrs NI…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
751 discussions
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Most recent: If You Have Registered For A … by molerat
11 August at 3:06PM
