-
Possible pension transfer
I was a member of the "lucas pension scheme" which has since become TWR Pension Scheme. I left my employer some years ago and my pension was deferred. I have recently recieved a newsletter from TRW Stating Schemes Legal sponsor, TRW Limited, remain unable to support the scheme from its own resources and will remain reliant…
-
Enhanced Contribution to DC Scheme - Any Advice Please
Hi, I've posted previously about my company being acquired by another and the likelihood of my DB scheme coming to an end. This was confirmed to me in writing on Friday. I've been lucky enough to be in a DB scheme for approximately 26 years. The accrual rate in my current scheme is 1.75% of pensionable earnings. My…
-
Transferring from European Civil Service pension scheme
Dear All, I worked for the European Commission for several years. I saved into the civil service pension scheme. I was forced to transfer the actuarial equivalent to a private pension scheme when I left the service because I had less than 10 years service. The Commission insists that the PPS 'obeys' 4 conditions: i. the…
-
Appreciate feedback...
...........
-
Fund not moved when requested 10yrs ago...
When I was 18 I had the foresight to know I was probably going to be self employed for most my working life so took out a personal pension with a company called NPI. All went well over the years, I kept paying in and the fund was growing nicely when suddenly when I hit my 30's, the company were bought out by another…
-
GMP calculation for Barclays Pension
Help please from any mathematicians out there! I have just received a revaluation on my Guaranteed Minimum Pension from Barclays who I left in 1985. Unfortunately they have just given me a formula to work it out rather than an actual illustration and I wondered if anyone who is great at working this out can check it. They…
-
Deferring Pension
I have 2 final salary pensions from former employers payable in about 4 months. My pension from my current job is also final salary but payable in 2020, or earlier with deductions, and I plan to continue working for a couple more years. Combined the 2 payable from 2015 are about £4,500, so I will pay about £900 tax. Is it…
-
Pension Input Amount
As explained in my other post my wife is a member of the LGPS along with an associated AVC that she contributes to and we are going to open a "stand alone / self managed" SIPP or PP to maximise the higher rate tax benefits. The input limit was £50k p/a until it reduced to £40k p/a in April 2014 I understand. The things I…
-
Advice for Pension Options.
Hello all, I have 4 options for pensions provided by BT. I am having trouble understanding them, especially the maths behind non increasing pensions. Here are my options: 1. Annual increasing pension: £5156.58 Annual non increasing pension: - Initial Pension: £5156.58 Lump Sum: £15469.74 2. Annual increasing pension:…
-
Pension vs ISa
Long story short is that we are both 30 and have 10years NHS pension each currently. We are hoping not to stay at work until SPA so started a stocks and shares isa last year paying £200 a month in. The plan being that we use this isa to bridge the gap between retiring early and state pension. Would we be better off saving…
-
Stakeholder pension versus SIPP
Sorry if obvious but what's the difference between a Stakeholder pension and a Self Invested personal pension ?
-
Retirement - Pensions - ISAs??
These queries cross boards in some ways but for ease I am putting them all in one post – apologies for the size!. To give a bit of context our current situation is: I am 55 and my wife will be 55 early next year. We both work for local authorities and are members of the LGPS with a Normal Retirement Age of 66. We have 3…
-
MSE News: New standards for pension providers to be introduced
Pension providers will be required to check whether or not customers buying their products have already taken guidance... Read the full story: New standards for pension providers to be introduced Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New…
-
Pension Questions
Hi All Iv arrived here after asking about taking the tax free lump sum as I am on a income based benefit and I am 56 and have long standing ill health but have a old private pension from a company I left 20 years ago.Which has approx 58k total in it. So could mean as much as 14.5k as the 25% tax free lump I could take now.…
-
Funds in pension
I've been paying into my pension for a few years now and have about £300k invested. I use a local IFA and have about 15 years to go until I retire. I completed a risk analysis with the IFA and that came out quite high, that is, I'm prepared to take a relatively high risk for a high reward. I've only started to learn about…
-
Gripe re Pension start date.
Hello all, My 65th birthday falls on a Thursday and the state pension will be paid 4 weekly in arrears. However what bugs me is that the first payment will not be paid out until the following Tuesday. So who is grabbing 5 days of my pension and how can that be justified after nigh on 50 years of hard slog ?
-
IFA Quote for Drawdown
I have received a quotation from a local IFA to organise and manage a drawdown but have no way of knowing if the figures quoted are good value, and tend to think they seem rather high. I have a pension pot of just over £400000 before taking the 25% tax free leaving around £300000 to go into drawdown. So far the IFA has…
-
public sector pensions
Yesterday on the television we had the head of Surrey police saying that they had no money and faced further budget cuts. however what he failed to convienitly address is the fact that many in the police as do in various other public sector areas take the retirement on a Friday at 55 and restart on the Monday near enough…
-
How to protect 5K of income from the taxman before April?
Hi All. Following a mid year pay review I am in a position where by April I will be falling into the upper earnings threshold by approximately 5K As I don't complete a tax return and have no desire to do so I would prefer that my P60 earnings shows me in the 20% band. My company operates a salary sacrifice pension scheme…
-
To cap it all ......SIPPS.
http://www.professionaladviser.com/professional-adviser/opinion/2383735/why-labour-is-right-to-threaten-a-cap-on-drawdown-fees "But there remain dark pools where the light of reform has not shone, and the management of much of the money currently being drawn from self-invested personal pensions (SIPPs) is the darkest. It…