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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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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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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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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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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
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NHS Final Salary Link
Hi all I began working for the NHS in
early 1990 and paid into the 1995 NHS pension scheme from the very start. I
remained continuously employed, was moved under TUPE to the civil service and
CS Alpha career average pension scheme on 01/04/2015 (no change of job and
remained on Agenda for Change terms and conditions). My…
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Switching work pension schemes
I work for a small company that uses a relief at source pension scheme with NEST. The company offers the auto enrolment minimum and I contribute the minimum to get the employer's match to the scheme. I would like to contribute more, but am put off by the charge to put money into NEST and the fund choices. I have managed to…
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MSE News: Self-employed? You may have incorrect gaps in your National Insurance record
Started working for yourself between 2015 and 2024? If you didn't tell HMRC using the specific CWF1 form – even if you registered for self-assessment – you may have incorrect gaps in your National Insurance (NI) record. And if that means you're not on track for the full State Pension, you're at risk of being underpaid…
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Pension or savings?
Hi all I am 42yrs old and due to long-term illness have no savings or pension (except the state pension). I am now in a position to start something for an income/funds after I retire. I have about £200 in a ‘people’s pension’ which is from an old job. They charge £6.50 a year and take 0.5% of my pension pot anually. It has…
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Canasta Strategy - Jonathan Guthrie
https://www.ft.com/content/69c88628-087c-4924-88f0-e5bd9cf5e5b4 (Free download but need to Register with the FT) Interesting article by Jonathan Guthrie of the FT about the Canasta Strategy - worth a read " Forget the 4 Per Cent Rule, according to the Canasta Strategy, you should let the market decide your pension spending"
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Help with Gretel. 0 matches
Hi, I'm trying to find a pension. I was a contractor for a short time around 20 years ago. I used a company (Can't remember the name) to do my tax, national insurance and a pension. I signed up for Gretel to try and find the pension but Gretel has found nothing. I thought it would find something, Even the pensions I…
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Retirement advice, Local Gov pension AVCs
Hello All Looking to retire from Greater Manchester LGPS at end of September. (date not fixed) GMPS Pension planner indicates pension value £11,332 P.A. ( no lump sum ). Also have AVC with Prudential value around £150,000. Looking at Maximum AVC lump sum calculator on LG website, this indicates maximum as £75,546 based on…
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Lloyds offering up to £5k cashback for a pension transfer
Lloyds offering up to &5k cashback for a pension transfer, looks an ok offer. Fees capped at just over £200 a year (plus fund fess if relevant) if you go down the self managed route. Details here https://www.lloydsbank.com/landing/pension-transfer-cashback-offer.html Looks like a wide selection of funds, shares, ETFs and…
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SIPP’s
Thinking of opening a SIPP. Age 62, no earned income, so only very small contributions (ie £50 pm). Are AJ Bell, Fidelity etc all pretty much of a muchness (fees, performance etc)? Btw, I also recently opened a T212 a/c if that may be of any relevance. Thank you, Cotm
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 molerat
11 August at 3:06PM
