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Fixed term annuity
Good morning I am about to start drawing on the smallest of the three pension pots I have. I am currently 63 and out of work since redundancy last year. Generally, we are OK for money with 3.5 years to go until state pension age. I was about to move forward with an income drawdown arrangement on the smallest of my 3…
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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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Is retirement possible today?
CAN I RETIRE TODAY? DOB: 9.10.68 AT 60, I WILL RECIEVE MY CLASSIC CIVIL SERVICE PENSION; IT PROVIDES A 40K LUMP SUM PAYMENT PLUS 13 K PER YEAR ANNUAL PENSION. I HAVE 230K IN MY ISA (50K IN A MMF AND 180K IN THE FTSE GLOBAL ALL ACP (ACC)) I ALSO HAVE 21K IN PREMIUM BONDS. I ALSO HAVE ABOUT 10K IN MY CURRENT ACCOUNT. I NEED…
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Drawdown pre or post 75
I am now in receipt of SP and DB totalling £22k. I have taken my TFLS from my SIPP to help fund a property project and the balance is about £270k. OH continues to work as she enjoys it. I am considering taking enough to utilise my BR tax band each year until the SIPP is cleared. Our estates will pay IHT. We have a French…
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Late husbands COD payment from Pension Provider
I have a letter from HMRC advising of small weekly payments due to me from my late husbands private pensions. One was a company pension and I am receieving the 50% widow benefit which I believe includes the COD amount. The 2nd pension was only guaranteed for 5 years and they stopped paying it some time ago. - Needless to…
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HL to ii Final Transfer Summary
My wife has transferred her SIPP from HL to ii. The funds and cash have all landed in her ii account and she received a P45 from HL on 19 March. However ii say that she can't yet make withdrawals because they are awaiting a Final Transfer Summary from HL. She has asked HL to expedite this and received a holding response.…
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Fixed term annuity vs Drawdown
£375,000 pension pot converted to a fixed term annuity over 25 years = £ 28,800 a year. Drawdown approach at a 4% withdrawal rate = £15,000 a year. With decent cash pot invested in an ISA alongside this, What am i missing here? Is this a no brainer?
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Pension Providers Supporting The "Small Pots" (£10k) rule
Does anyone know which providers will allow a payment under the small pots rule for a SIPP? I can see both AJ Bell and HL do - but is there anyone else who does?
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Taking second AVC
I work in local government and when I turned 58 I started to pay quite large monthly sums into a cash AVC. At 60 I took flexible retirement, took my pension, and 100% of my AVC as a tax fee lump sum. I continued working ( part time) and rejoined the LGPS, and started a new AVC, into which I pay most of my new part-time…
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Relying on growth only to grow pension pot?
I'm 45, still about 15 years from retirement. My wife and I are directors of a small ltd company, no other employees. Have been making significant company pension contributions for a number of years, but a significant drop in turnover and rising expenses over the last 14 months has meant we have had to cut costs, including…
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Suspending state pension payments and withdrawing equivalent amount from a crystallised pension pot
I've been taking my State pension for three years now, but have a pension pot of about £12k ( I have others but it's this one that I'm considering using). If I suspend my state pension and draw an equivalent amount from my crystallised pension pot as drawdown, my income would stay the same- just under the 0% threshold.…
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Genuine mistake?
Hi, I recently applied to make a withdrawal of £3000 from a drawdown account. Unfortunately, the provider’s confirmation letter was put in my junk folder, so my first knowledge of the transaction was when payment was made, but the payment was incorrect, the provider had transferred the full balance of the account, nearly…
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Spanish tax
Hi. I have searched the forums on this subject but the latest post I can find is 2011. Is there anyone in here with experience of Spanish tax for people who want to get residency. I am due to retire to Spain at 50 and cannot access my pension until I am 57. I was hoping to take a lump sum at 57 of £250k but it seems I will…
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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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Fees on pension
hi all I utilise a Financial Advisor to fully manage my sipp, he does all of the fund selecting and purchasing of same, what would you expect the fees to be on a 850k portfolio
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Civil Service 'Classic' and early retirement (pre 55)
Hello everyone I am looking for any experience / advice on leaving pre 55 based on a current (scheme year 24-25 and scheme years 25-26) period of higher earnings due to a temporary promotion. My classic length of service (post McCloud judgement) will be 28 years 171 days and I am a Classic member. So my pensionable…
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Tax free lump sum
Need help again I’ve previously asked a similar question but still confused. Especially after speaking to WTW. I’m 55 and want to release the 25% tax free lump sum from my WTW workplace DC pension I would like to use part of the funds to pay for home renovations before finally leaving my employment. But importantly want to…
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NPI/Phoenix Life Offer
I have an old Pension originally taken out with NPI - With Profits Plan, that is now managed by Phoenix Life. Recently, I received a pre-announcement of an offer they were making to allow me to transfer out of the current fund with no MVR. Since the the MVR would currently be about half the value, this seems a good offer.…
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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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Civil Service Retirement application form - deferred members what else to include?
I'm filling out the Civil Service retirement application form, which is straightforward, however in 2017 there was a bulk transfer into Defra, in my covering letter I am including details of that and the protections i have with the rule of 85 (ie. part of the pension was transferred into Nuvos) it is the pre 2008 Nuvos…
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Most recent: If You Have Registered For A … by molerat
11 August at 3:06PM
