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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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Inheritence into a SIPP
Hiya, I've recently inherited some funds. I'm in my 50s and have been SE my whole life. I have never contributed to a pension. I understand I can put some of it into a SIPP. I'm a 20% tax payer, and my SE income is less than £60K per year. Can I put £60K into the SIPP, or can I only put whatever my SE income is for this…
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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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Flexi Drawdown v UFPLS
Afternoon.. If my wife wishes to take £15k pa from her SIPP , does it matter if she uses flexi drawdown or UFPLS ? Is there any major benefit in using one over the other . Our initial thought was that we would use UFPLS for £15kpa (once a year but increasing with rpi), am I right in saying £3750 (25%) tax free element hits…
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What do people think of Interactive Investor (ii) platform
FYI: This is NOT a request for financial advise. I would like to know what your experiance of dealing with "Interactive Investor (ii)" SIPP is I would specifically like to know how easy it is to draw down ad-hoc ammounts online. (I am a senior software developer so app or online is no problem) As I am NOT going to take my…
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localpensionspartnership.org.uk - Who are they?
I have received an email from the lppa (as they call themselves), but am unsure whether they are an independent organisation regarding my previous local government contracts, or a private company looking to invest such in their interest (I have had brown envelopes with "official" letters about my pension previously from a…
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Pension withdrawal to avoid taxation.
My wife has Zero income and we live off my private pensions and savings investments. She has £83,000 in a pension plan. Her state pension starts in 2033. Her tax Allowance is £11,380 (she has gifted part to me). My opinion is that we should start withdrawing the taxable part of her pension now to avoid paying tax on it in…
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Does Increasing pension contributions reduce tax.
I'm hovering around the 40% tax bracket due to full time income and personal pension currently paying £12K per year. Through my employer I am paying into a pension which I will draw at the age of 68 (15 yrs time) at present my taxable allowance is on my pension and I am paying 20% income tax on my full time income. If I go…
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NHS pension
I have accepted an NHS job offer, and one of the questions on the starter pack says: 'Do you have any previous pension rights that you might be interested in transferring into the NHS pension scheme?' I would like to know what this means. As I have an old work pension (non-NHS on the Scottish Widow platform) and I was also…
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Good news about your PPF compensation
I have just received an email from the PPF advising me the following: Currently PPF compensation relating to pensionable service before 6 April 1997 doesn’t increase in payment. However, in April 2026, Parliament passed a law to allow inflation increases relating to pensionable service before 6 April 1997 if the former…
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Nest pension
Hi, I am 58 and not sure how long I will be working at my current job as partners are likely to retire in a couple of years. I currently pay 5% and employer 3% into nest pension. I also add a small lump sum of £40 each month separately. I am wondering whether its worth really increasing my contribution to say 11% -…
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State Pension forecast only 33 full years retirement date 4 weeks off full year
Hello Forumites I've looked at past threads (and done google searches) but can't see anything that seems to apply to my situation and I see that there are some really knowledgeable Forumites who seem to know about this stuff so I'm posting in the hope that someone can help me unravel my situation. Apologies in advance for…
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Inheritance - Paying off mortgage, ISA's or gifting to the kids + Pension considerations
Complex ask and understand this might need an FI for real advice but I'm looking for REAL LIFE experience answers in the first instance. Background: I'm married - Im 60 - partner is 61. I have private pension £350k - partner has £1.5M I have 30 years NI - would need to top up £4700 to go from £213 a week to £241 for old…
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Pension tax - HMRC refund quandary
I received a letter from the HMRC stating they owe me a £6k refund out of the blue. It says that it's in relation to the 25/26 tax year, which I have yet to submit to my accountant. I have looked into it, and it turns out that it is in relation to a pension policy that I withdrew. I took out the full amount, which in total…
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HMRC contacts
I moved to Thailand in 2022 having retired and in April this year I discovered the P85 form to stop paying tax on my pension in the U.K. Despite acknowledging they received my request I never received a response so I filed a complaint which was also ignored as was the latest complaint. My questions are: 1/ Is there an…
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Teachers pensions and divorce
Hi, I have gone through an amicable divorce and we have decided to split our pensions 50:50. My ex husband's providers have followed the pension order without any charge but Teacher's pensions have been a nightmare and it looks like they want to charge us over £3000 for following the court order which is disgusting. If I…
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GMP Equalisation
I am a retired pensioner receiving a state pension and also 2 company pensions built up in the 1990's with 2 different 'big' companies. This question relates to these 'commercial' pensions. I have recently received correspondence from the pension scheme of one of these companies regarding the conclusion of their GMP…
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Help required working out Civil Service Pension following retirement.
Wondering if someone could help me work out what a pension calculation should be. Worked in CS from March 2000 - March 2020 (on reaching 60) full time and took my full classic pension then. From March 2020 - April 07 2026 worked partial retirement. On March 31st 2025 my pension was calculated as (i) Classic March 2020-22…
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McCloud RPSS errors and delays
I'm interested to know if anyone else has experienced something similar with their NHS Pension McCloud Remedy. My pension record dates back to 2001. I worked for one NHS trust from 2001 until moving to another NHS trust in 2021, where I'm still employed and paying into the NHS Pension Scheme. Around 13 months ago, I…
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Higher lump sum or annual income?
Hi there, I’m taking early retirement in September and trying to decide between the 2 remedy period options for my defined benefit pension. The 2nd option would increase my annual pension by £900 but I would lose £13300 from my tax free lump sum. Is this a good trade off? I would pay tax on the £900, so it’s really £720…
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State Pension age rising to 68 in 2037
https://www.thetimes.com/uk/politics/article/state-pension-uk-retirement-age-68-nc50dzgcn
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
751 discussions
6.5K comments
Most recent: If You Have Registered For A … by MicKeat
4 July at 4:15PM
