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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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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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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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Retiring but still a few uncertainties
I went back to an old post I made here, back in January 25, in it I was considering retiring August 25 at 53 years old. Well, I didn't, but I'm about to hand in my notice to retire this August when I'll turn 54. So back then I was in the process of reducing my hours to 26/week. I did, and worked this for a year and then…
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IHT Planning
Does anybody on here have any experience on Bluebond IHT planning, looks good but does it do what it says on the tin?
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State Pension non reciprocal country ?
I am aware that people who claim the UK state pension whilst living in non reciprocal countries eg Canada, Thailand, Brazil etc do not get the annual increase. However how long can you visit one of these countries without it affecting your annual increase? Thank You.
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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…
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High risk, high reward: A pauper's dream of early retirement.
As regulars on this forum will know, I am trying to retire early while working part time, with a current salary of about £21.5K. Five years ago (after the loss of a loved one) I started to take my life and my finances a bit more seriously. I was 43 at the time, with a combined pension and ISA of £73.5k. I decided to make…
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Pension Scammers Target People Who Want To Avoid IHT
Putting this here just in case although I suspect none of the regulars here would fall for it. As with all IHT, the only ways to avoid it are impoverish yourself, risk running out of money, convert cash to income, or trust your offspring.…
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Getting the money!
I currently have a DB pension with £22,895 in it, retirement June 2026. I was asked how I wanted to take it. I elected for the trivial commutation lump sum because I have urgent roof repairs to fund but because I closed a different pension for £8,158 some years back I’ve been told that I can’t because: “The capital value…
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Hyder Business Services/Mouchel
I worked for an engineering company called TBMA uk Ltd back in the late 90s for four years and they set up a pension with Canada life. I want to access this pension, I contacted Canada life and back in 2008 they transferred £2500 to Hyder Business Services in Lincoln - known as HBS) HBS were taken over by Mouchel who was…
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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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Pension with both a deferred and Protected Rights section.
I have an old pension that has a deferred annual pension of 5k and also a section which states "Plan was contracted-out of the State Earnings Related Pension Scheme (SERPS) on a Protected Rights basis" Value of the Former Protected Rights Account (PRA) value is 13k. It goes on to say "IMPORTANT NOTES ON YOUR PLAN BENEFITS…
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Basic SIPP scenario - guidance needed rather than hard advice
Ok, so I am 59 and plan to retire next year when I hit 60. I work and I am a higher rate tax payer and have a workplace pension starting at 60. I have just inherited 100k and exploring options for making this work for my retirement. A SIPP sounds like a good option on the face of it. So I would plough 60k into this and…
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Post April 2027, can people over 65 still transfer from a shares isa to a cash isa?
AI suggest they can … Can anyone confirm if this is correct?
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LGPS & State Pension Age
I and 43m and joined LGPS in 2017 on the CARE scheme - which I understand is tied to the State Pension Age. For me, this is currently aged 68. (with the increase from 67→68 scheduled for sometime 2044-46) The current implementation of the SPA rise to 67 got me thinking about the risks around this for planning for…
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Planning for retirement in 5 years while living overseas
I am sure elements of this are covered in many other threads, and I know I really need to speak to a financial advisor, but you guys have so much experience and good advice I thought I would throw the question in here. My current situation: I recently turned 56, debt free with no young dependents (my wife has her own…
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Tax relief on contributions for a low earner
Help me out here folks A relative has just left a job but is keen to continue contributing to the occupational pension which is held with Scottish Widows. They would like to pay the maximum they can. As a low earner (they have found another part time job) they may not pay any income tax in the year 26/27. Let's say they…
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Diabolical pension inheritance tax on death 2027.
So this new 40% tax on any pension inheritance is apparently coming in 2027. What is the inheritance tax if a family member were to inherit their parents savings in an ISA or ordinary savings account? [Some text removed by Forum Team] Thank you.
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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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SIPP withdrawal while relief is pending.
Apologies if this has been asked before. I made a small contribution to my ii SIPP, but subsequently decided to withdraw a larger lump for a holiday. I raised the cash by share sales, but during the withdrawal process I was warned that if new money was added, withdrawal would have to wait for tax relief to be posted. Since…
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Buying an annuity, why does RPI get a better output that LPI?
As per the title question. I've been going on all the annuity tools and calculators and find like for like quotes, RPI gets a better initial payment to customer than LPI. LPI is apparently limited to a max 2.5% or maybe 5% and I just can't understand why RPI pays out more? I must be missing something as I normally do. Any…
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Musings by the FIRE-side
Hi all, I’ve been a long time follower of these forums, but for some
reason having been away for a few months, my account seems to have been lost,
so I’m starting from scratch with a new profile. I’ve got a big decision to make over the next couple of
months and, aside from finding that writing these things down always…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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