-
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…
-
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.…
-
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.
-
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…
-
Uncrystallised DB pension reduced in value
Hi, i was made redundant exactly 4 years ago and at the time I asked for a pension illustration on my DB scheme with the Company I had worked at for over 15 years. At the time the offer was £97k lump sum and £14,800 pa. I chose not to take it but 4 years later I have just asked for a revised figure and they have said £90k…
-
Have we reached peak annuity rates?
Now that the higher interest rate medicine appears to be working and gilt yields are slightly down, does it look as though annuity rates have peaked for now? OH had a surprisingly good annuity estimate from Legal and General via moneyhelper, but when he went to the L&G website he got a slightly lower estimate using the…
-
Fiscal drag and withdrawal strategies
Hi all, Interested in the discussion on another thread here re. fiscal drag (freezing tax bands) and how best to get money out in retirement. My current thinking is start DB at 56 (about 12k, covers essentials, a sort of annuity feel…) and top up with SIPP (front loaded) until SP starts at 68. Aim is to empty SIPP (spend,…
-
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…
-
Pension advice
I got a pay rise in April and want to start putting the extra amount I get a month into the pension I am paying into at work, if I add extra money in manually will I still get tax relief on this money or do I need to get my employer increase the amount I pay in via my wage to get the tax relief? Many Thanks for any help
-
Tax assessment for Belgian State Pension: how they did it
Good morning everyone. Facts: Single Person. Non-resident in Belgium. Resident in UK 1) Has a small Belgian state pension of around 2000 euros in 2021. This is the first year I received Belgian state pension payments. This is declared for "Belgian assessment year 2022" which covers income for 2021: 2000 euros is reported…
-
LGPS Final salary
Hi, I have been receiving an honorarium (non contractual)since September 25 and will continue to do so till my lds on 30th June 26. I have pre 2008 service, should this be included in my Final Pay calculation? As it would make a difference to my pension and automatic lump sum? Thanks
-
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…
-
State payment pension payment date
My Husband reaches state pension age on the 15th July this year. He applied for the pension in March and has received a letter stating when payment will be made, but can't make sense of the dates. He rang the DWP and spoke to two different advisers, neither of which who are able to explain the significance of the dates in…
-
I asked ChatGPT to simplify and sort out my investments
I have been looking at sorting out the isa/pension investments for me and my OH as they are currently across 3 providers (Vanguard - OH, interactive investor (me) and L&G (me) (ex-employer master trust in drawdown). Total approx £1m and not really used for day to day as decent DB in play. My allocation for the last 5 years…
-
Anyone else struggling to get answers about the new VNI rules abroad? Self‑employed in Spain
Hi All I’m hoping someone here might be in the same situation or has managed to get a clear answer from HMRC, because I’ve spent hours and hours going round in circles and still don’t know where I stand. I’ve lived in Spain for 21 years and I’m self‑employed here (autónoma). I paid 19 years of NI in the UK before moving,…
-
Using savings or taking pension funds in early retirement.
Hello, I am 61 years old and have two pension pots. Both are Defined Contributions type. One (personal pension) I do not pay into any more so is only growing through standard portfolio investment and time, current value approx.£185,000. Whilst the other is a workplace group pension scheme which I contribute to via a salary…
-
Government Pensions Dashboard
Early UI for those that are interested. Interestingly it's identified 2 legacy pension schemes that i have no details of…
-
Pension higher-rate tax relief
Last month I submitted a claim for pension relief, for the following contributions: 2023-4: a one-off additional contribution of £6500 to my Nest workplace pension. I also flagged that I didn't receive higher-rate relief on regular contributions of c.£1400 2024-5: a one-off contribution of £13,500 to my Vanguard personal…
-
Preparing for moving to withdrawals. Help to simplify, consolidate and avoid tax traps
Hello. I am hoping that someone can help and advise (in the non technical sense) regarding starting withdrawals on investments. I am 66 years old & am asking about a SIPP currently held with Best Invest and valued at about £150,000 and an S&S ISA with Iweb valued at around £250,000. These sums have been accumulated over…
-
Standard life staff pension CETV
I am looking for any help that someone might be able to give on standard life staff pensions. My ex partner was employed by standard life circa 2006. Does anyone have any idea how the CETV value for the pension is sent out as what I’ve been sent through the solicitor doesn’t like anything like mine from my employer. The…
-
Cash buffer dilemma
afternoon all , #i have often read that on retirement you should have a cash buffer within your "portfolio" so can ride out any market crash when you may need to access cash instead for say, 2 years. My query is as follows.. My wife has just retired her overall pot came to £400k (albeit high share prices at moment), it is…
-
AVC help
just after some advice. I have a part time job and a pension which push me into the high rate tax bracket. The 40% tax is taken from my pension. I am on a BR tax code for my part time job. I took out an AVC a couple of years ago to reduce my tax which comes out of my pay obviously. I therefore get the 20% tax relief on the…
-
Effective Tax rate withdrawals
Thinking on my position along similar lines to this thread. Current Situation - Still a long way from retirement in age, if not money. 44 Married. Me - £750K in SIPPS - Contributing circa £30k a year to get down to BRT Missus - £150k in SIPPS - Contributing £3.6k a year. Salary £32k so could be a lot more Combined ISAs -…
-
state pension payment date
I live abroad, have claimed my UK state pension, and just received a letter of confirmation. It explains how much I will get (exactly what I expected) and how it was worked out, but it (oddly to me) doesn’t state the date when the payments will actually begin other than explaining it is paid in arrears at the end of 4…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
748 discussions
6.5K comments
Most recent: NI years are now full, existing OAP, when should I expect my monthly payments to reflect this? by Dazed_and_C0nfused
22 May at 1:38PM
