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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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Good (and short!) explanation of COPE
There are lots of queries about COPE cropping up regularly. This is one of the better, not to mention shorter, explanations I could find which might help: https://www.wypf.org.uk/pensioner/all-about-my-pension/contracted-out-pension-equivalent-cope-amount/
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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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New board for state pension top-up / Future Pension Centre / voluntary NICs questions
Hi all Regulars on this board will well know how many threads we've seen in recent months about Future Pension Centre-related questions. As a result of a great suggestion from a Forumite (passed on by a Forum Ambassador) we've created a new sub-board for all these types of threads: ➡️ Topping up your state pension ⬅️ If…
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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 me 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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Help with lack of pension quandary
Hi all, I have a bit of a stupid situation I hope someone can help advise on. I am 42 with no pension - I opted out of my company pension about 3-4 years ago because I needed the cash. I've been at the company for around 6 years so I have about £3.5k in a pension pot thanks to the auto-enrolment but for all intents and…
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Charges
Hi I’ve just received a document giving me a thorough update on my pension performance , it’s currently sitting at around 430 000 and is invested through fidelity and is 3 cautious funds . as usual the first thing that jumped out was the charges, all in I was just over 7000 for the year, That’s for everything .does that…
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Sole Trader - ISA or Pension HELP ..
an anyone please give me some advice on my finances? I am a 50-year-old sole trader who earns around £28-30k a year with no pension. After years of renting, I had to move back in with my father after he took a few falls just before COVID. It was meant to be temporary, but years down the line, I am still here and some days…
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Clerical Medical - Extremely Poor Service
There's a few posts on here from a few years ago about Clerical Medical's poor service but I just wondered if I'm the only one having issues currently. I'm a trustee of some bonds from my late mother's estate and trying to get a partial encashment. I have already had one complaint upheld as the initial enquiries about how…
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What to do with all your time?
I thought it might be interesting to get some perspectives from the hive mind here running: might help others. We all know that those who have bitten the bullet almost all wonder how they had time to work, but perhaps this thread could give others ideas? Not wanting to focus on the financial aspects - most threads here do…
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French pension problems
I am a retired British citizen, ow living back in the UK.I worked in France for a few years in 1970s and had been receiving my French pension. This stopped abruptly three years ago. Since this time I have made contact with the pension department many times and submitted identical paperwork when repeatedly requested. This…
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LGPS when the AVC exceeds 25% of the total pension pot
Hi My position - age 56, 2 LGPS pensions and 2 seperate AVC pots. I have now sussed (thanks for the clarification everyone!) that I can claim these independently but I am now trying to work how flexible retirement will complicate the matter. As I am tempted to go via this route My first pension (deferred member) is larger…
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Old DB Scheme - sanity check required
I was a member of a Company DB scheme for nearly 20 years, before they closed it. The last statement I had (last year) says the estimated total annual pension at age 65 will be £15k But then it also says that in addition I transferred in 2 other old pensions from previous employees and the statement describes them as a…
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Cashing in an FSAVC
I am thinking about whether to cash-in my FSAVC at 55 in just over a couple of years. It is currently worth about £17k with a projected annual income of around £500. I am now a full-time carer, with little realistic opportunity to work at a level where I can make significant future pension contributions. I have a company…
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Changing pension provider and company contribution
Hi, I was thinking about changing my pension provider as I wanted to move my pension along with my ISA and other savings to the same company. I planning on opening a SIPP to do this. I asked the company I work for and they say they will only provide company contributions to the pension provider they've selected. Is this…
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Proximity to Retirement Jitters
This recent rally is giving me the jitters . I’m in lucky position to be considering retirement in 2 years time - Age 54. The recent rally and maximum pension contributions past couple of years have got us to a good number in DC pension + SS ISA + Cash ISA. Despite being pretty financially savvy , and knowing that “number”…
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McCloud Judgement - Moved from NHS Pension to Civil Service Pension
Hi all Hoping someone who is in a similar
situation and imminently retiring or just retired may be able to help. I and several of my colleagues were
moved from the NHS 1995 pension scheme to the civil service Alpha pension as
part of the TUPE process. Our contracts were moved from being NHS to civil
service. We think we…
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Pension help
I am sorry but I just can't get my head around these pension calculators. In a nutshell can anyone recommend the amount or bare minimum you would recommend we put into pensions please. I currently have 2 pensions but not much going in a month and hubby has his work pension but I think only 3% is going in to that. Me,…
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Delaying State Pension for 6 months
In a year's time I will be 66 and will be able to take a full state pension. I have decided to work 2 days part-time till 67 and then retire. I forecast that in that year I will be receiving about 2.5K in interest payments on bank fixed term bonds which aren't in a ISA . If take my pension at 66 I will be due yo pay around…
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Care home annuities
Hi - My mum's 95, got dementia and has been in a care home for some years now. She's self-funding but at over £2000 per week she's getting through her savings very quickly. She's physically in pretty good shape so the family is a bit concerned she'll outlive her savings. We've heard that you can buy Care home annuities,…
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Is there any benefit in Salary Sacrifice Redundancy pay into Pension
I know... An unusual question Obviously redundancy pay is tax free and pay in lieu of notice is taxed So... is there any benefit of using salary sacrifice?
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Aviva "Designer Pension" GPP - funds to mirror all world/global
I've been turning my attention to the pension recently. I've consolidated and been paying into this one for 5 years on default. Looking to move out of the default 40-85% fund I'm in. Hoping to mirror a global equity fund. My problem is that the options on the system are a bit awkward. I do not have the broadest of options.…
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National Insurance Credits with No Child Benefits
Hi, Does anyone know if and how you can claim National Insurance Credits for Past Years with No Child Benefit? Is this possible? I seem to be going round in circles. 1st child born in 2012 Thank-You
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Help with claiming HRP
My mother is trying to clain hrp for her missing years on child benefit. Her state pension is only £180 a month because off it. She has filled in the claim from, but she didn't know the Ni numbers of her 2 ex partners and has being told she needs them to make the claim. One ex has passed away the other she hasn't spoken to…
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HRP
I have completed forms and I have rec'd a letter from HMRC to confirm that I am entitled to HRP. I am trying to find out what happens next. I spoke to HMRC, they told me to contact State Pension Centre. I called but you cant speak to anyone. Has anyone had a similar experience and could advise how I find out?