-
25% Tax Free Lump Sum or whole amount used in annuity?
Hi all. I have an employer’s
retirement savings plan (not Final Salary just to be clear) and I am 67 so would
like to take the pension. The dilemma I
have is whether to take the TFLS or use the whole amount to buy an annuity. I don’t want income drawdown as pots
can go down as well as up and I'm risk averse. I could take…
-
state pension tax
was payed 17/04/2023 369.7 then 01/05/2023 387.5 then same about every 2 weeks till 01/04/2024 totel 9688 + 369.7 so all to gather 10057.74 they should be 5 days more added to this if taken to the 6th of april 138.4 the dwp has told tax office 10076 this is the bit i dont under stand how did they get this the amount for…
-
Nearly 3 Years On..
Hi Everyone On this rainy BH I thought I'd give an update on these two threads I started in 2021 and 2022 to show the direction of travel and our decision to PTT (pull the trigger!). Are we on the right track? Advice welcome Thinking of Transferring to Interactive Investor - Page 2 Me: 55. Earn £49,950 plus £4k car…
-
Find help for Pension
Hello all Am looking for guidance please. My husband has a small pension with Standard Life, maybe £10,000. He has another pension with just shy of £90,000 with Aegon. He wants to transfer the Standard Life to Aegon. As he has had the Aegon for some years now he needs to choose a fund to replace With Profits fund. The…
-
Unemployed Pension Contributions
Can someone advise please? I only had gross salary earnings this tax year from April to 3rd May, having now left the job and I was in a salary sacrifice scheme, so contributed to my workplace pension for that period. On the assumption that I do not have any other employment for the rest of this current tax year, how much…
-
Reporting In - 5.5 Years post-FIRE
Hi All, I've been off this forum for a while, good to see all the old regulars still here :) I retired back in October 2018, but ended up staying on one day a week. I thought it might be instructive to relate the impact of that. We had an 11 to 15 year gap before DB (£25k between us) and SP came on line, which would be…
-
Pension and Tax Question .
Retired 3 years ago and immediately claimed my private pension and oap . I started paying income tax straight away . My wife retired at 63 three years ago and claimed her private pension which was just over the tax allowance of 12.5k [ 13 k ] and so paid a little bit of tax . On april 29th this year she made 66 and so her…
-
Finding lost pensions
I've been trying to do this for my partner but this service seems fundamentally flawed. You need to know the name of the provider for a personal pension - if we knew that why would we need the service? My partner cannot remember the provider name so how does he trace it?
-
Nest vs People's pension
Hi I've got a private pension SIPP in Vanguard Lifestrategy (best decision) however I need to sort my workplace pension as they are changing the pension provider and asked me if I want to move from Nest to People's Pension... If I had a choice I wouldn't pick either but because it's my workplace's pension I need to decide.…
-
NI records now updated till 5th April 2024.
I just rechecked my NI record on the government gateway. It currently shows my yearly NI credit for year 2023/2024. IIRC, last year the gateway didn't update till June time for NI 2022/2023 year. Always worth checking and epically now as an NI back buying years window is open till March 2025 and then apparently closed. ***…
-
Guide discussion: Grandparents childcare credit
This is the place to discuss our new guide on grandparents childcare credit (known as Specified Adult Childcare credits). We'd love to hear your thoughts, personal experiences, and general feedback. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.'
-
How and where to invest
Between the two of us, we have about £500-£750 to invest a month in something, and would really appreciate some ideas. I'm 55, husband is 53. We both work and have contributory pensions. Mine will give me a few hundred quid a month, my husband's private pension is currently worth about £150000. All being well, we are…
-
No state pension contributions
What happens if you don't pay any national insurance or make any state pension contributions? Of course, you wouldn't have a pension but would there be any other repercussions? (I'm asking for someone else)
-
What happens if you straddle pension age increase?
On 6th April 28 minimum pension age increases to 57. My DOB is Oct 71. If I start accessing a DC pension from Oct 26 (age 55) can I continue? Or on 6th April 28 (age 56) will there be limits on how I can access my pension? What are the guidelines? I'm thinking I would be able to access crystallised funds in a drawdown…
-
MVR Question and Factors? (Prudential)
Hi Hoping someone can offer some general advice here as I know very little about finance etc, so I may be being naive or ignorant of the basics. I know individual cases vary, but to provide some basic info: I have a private pension (with Prudential) which I began in 1989 and which I was written to by Prudential and…
-
Changing fund in Aegon Pension
Hello all Am looking for guidance please. My husband has a small pension with Standard Life, maybe £10,000. He has another pension with just shy of £90,000 with Aegon. He wants to transfer the Standard Life to Aegon. As he has had the Aegon for some years now he needs to choose a fund to replace With Profits fund. The…
-
Claiming additional 20% pension tax relief in Self Assessment
I'm completely confused as to how I can claim the additional 20% pension tax relief I'm entitled to. As a higher rate tax payer I'd assumed the 40% relief would be automatically appled (Civil Service pension - Alpha scheme). However, I understand I'll only have had the 20% applied and need to claim the rest. Having looked…
-
Dutch state pension
Hello all, I'm after some very specific information on the Dutch state pension (AOW) and hoping someone out there has some experience of it... My wife and I spent 9 years living in NL and have returned to the UK. We were both resident in NL. In terms of the AOW, I know we should be entitled to something but: * Is it as…
-
GMP question
Since turning 65 my RM section C pension increases have changed. Pre 06/04/1988 hasn’t increased at all. And Post 05/04/1988 has gone up by 3% CPI which is the maximum it could have gone up by. And the rest of my pension went up by 5% RPI capped at that amount. My friend who also retired 65 and is in the earlier Section B…
-
Civil Service Pensions
What will be next years pension rise? And also what about PIP 10%? CPI can't see that happening