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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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Budget predictions 2026
Given there’s only 51 weeks to the budget, what are the hive mind’s thoughts on upcoming announcements? Bingo dabblers at the ready: IT/NI changes Salary sacrifice for employer provided pizza days TFLS changes State pension age removal State pension quadruple lock Increased benefits for non-doms Removal of child benefit…
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What is the definition of income when assessing tax on pension
State pensioners with no other income will not have to pay income tax once over the tax threshold. Forget the detail whether just new state pension etc. Is it clear what the definition of income is? Is it taxable income or does it include money from savings, lump sum tax free cash etc. Any ideas?
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Vanguard Life Strategy
Been reading a few threads on this forum and elsewhere ref. Vanguard Life Strategy (VLS) funds and if possible I'd appreciate a few thoughts from those who know far better than me. I am 61, still working, though considering retirement, and have 2 SIPPs with HL and Bell made up of 100% equity funds/ETFs - low cost…
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Higher Rate Tax and Pension relief
Hello All. So as a complete newbie now just opening my first pension SIPP ( albeit very late in life) , hopefully I am now right in assuming 60k limit ? Self employed and will go into higher rate tax this year but I am slightly confused on the part I claim separately on self assessment. I would like to pay in the max sum…
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Employer Pension Requirement
Hi everyone, Recently, I have started being employed as an employee with the business I work at. Previously, I was a contractor with them, but I felt the need for a more secure monthly income coming in. The business is small and we have quite a few contractors that we use to provide our services, but there is a small…
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Civil Service Pension & Tax
I was retired from the Civil Service on the grounds of ill health in 2013 (I was in the Classic Scheme). Due to circumstances, I didn’t claim it at the time; I am now looking at doing so. My annual pension will be 12k. MyCSP have confirmed that it will be back-dated (ie 12k x 12 years = £144000). What I was hoping to do…
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SIPP interest 3% +
Hi All Do you know of any SIPP which pays 3% + interest on uninvested cash below £100k please? I know of Best Invest Many thanks Chris
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Pension options
Hi, My son has 8/9 small pensions with 5/6 providers after being auto-enrolled by previous employers. He has now found a job which he will hopefully stay in for many years and will soon get auto-enrolled in their pension scheme. My question is where is the best place to get advice about what to do about all the small…
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HMRC will stop cash-like investments in S&S ISAs
Updating this with the official note from HMRC https://www.gov.uk/government/publications/tax-free-savings-newsletter-19/tax-free-savings-newsletter-19-november-2025 I mentioned this on an ISA thread, but it's relevant to a lot of pensioners as well. According to the FT today, as part of the ISA changes, HMRC is going to…
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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…
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Aegon could not locate pension contributions more than a year
Hi everyone, My employer paid my contributions to Aegon but due to some systems issues they were unable to add those to my pension. They located some of the contributions but some still missing. This is now more than a year unresolved. I escalated this to Financial Ombudsman and Aegon lied to Ombudsman saying the issue was…
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Two USS paths, cannot decide
I am in USS and 56, essentially I have a choice. 1. Stay until 60, 3 days per week, and get USS pension of 31k + x3 TFLS at 60. Will have IB/DC's of 500k. 2. Go now and take 24k USS + x3 TFLS. Will have 500k IB/DC at 60, if I leave invested. All todays money. The extra USS under path 1 is essentially due to staying and not…
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Playing the ball as it lies
Hi, Have been thinking about things post budget and think we've managed to dodge most bullets, however, with us now being perilously close to certain allowances etc I'd welcome any thoughts or comments. Figures rounded but you'll get the gist Me 57, OH 55, House paid Full SP for both Me £8K db scheme payable 65 OH £8K db…
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USS - General discussion
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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Missed Something in the Budget?
Maybe not in the budget, but possibly in Martin's interview with Rachel from Accounts.....did she mention anything about anyone in receipt of both state pension and works/private pension would have to start filling in tax returns from 2027 ???
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Budget 2025
In Martin’s discussion with the Chancellor after the Budget she said that if source of income was only the state pension and this took it over the personal allowance there would be no tax to pay. What if the winter fuel allowance is the culprit here, is this additional income and so tax is payable?
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In specie Sipp transfer
I’ve requested a transfer from Charles Stanley direct to AJ Bell, it contains crystallised and uncrystallised funds - there are only two investments, HSBC ftse All world index inc. and Royal London Short term money market fund inc. plus a few hundred in cash - CSD charge £180 + £10 per investment for the transfer out but…
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Assessing my pension Pot.
Dear forum. My financial adviser has changed my draw down pension to a different pension fund. Actually Aviva to Fidelity. Apparently to make it easier. Not sure who for. It does not help me assess any changes to the overall fund. I am extremely disappointed with the fact that I cannot look
at my funds by a line graph or…
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State pension but i pay tax
The chancellor stated nobody would pay tax on a state pension if its there only income.I only get a state pension and its my only source of income,but because I paid into NIC for 52 years (D.O.B 17.08.1952) entitling me to a pension of £1199.per 4 weeks I have a tax bill for £467 for year 24/25 which has to be paid by Jan…
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HRP missing from NI record
My wife retired on
the old state pension at the age of 60 years old. It’s recently been reported
on the Martin Lewis website about Home Responsibilities Protection (HRP) should
have been transferred to your NI record if you had children between 1978 and
2010. We have looked at her Government Gateway and it says “Year is…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
724 discussions
6.3K comments
Most recent: State Pension Changes / Living Abroad by Eldi_Dos
2 December at 8:15PM
