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Help please
Hello everyone - I need some help please. Over my career I have taken out a few small pensions which matured when I reach 60 last year. In most cases I took a 25% cash payment plus a reduced annuity. I am confused regarding the recent budget. From April 2015 will I be able to completely cash in these small pensions?? Many…
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where to transfer my pension scheme (from my previous employer) ?
I have received a letter from my previous employer pension management company that I should transfer out my retirement account which is worth £5500. They have also sent a transfer application which I have to fill out. When I received that letter last week I know nothing about it. Googling about it only confuses me rather…
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Increase in State Pension Age
As you know, anyone born after 6 October 1954 has a new State Pension age of 66 years. This is a loss of approximately £42,000 over the six years for every woman affected. I would urge you all to read and sign the online 38 degrees petition by Anne Keen. Simply google reverse the state pension law. MPs have generous…
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£40 000 annual contribution limit
we are trying to build up the value of my wife's sipp which she has running alongside her teachers pension- does anyone know how to value the teachers pension as part of the annual allowance- she has not contributed to the sipp for the last three years and I believe that this allowance can also be used - is that correct…
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Pension Early Release, Loan Alternative?
Hi I need to find £18,000 which the Banks Building Societies will not lend me due to my age, income level and the current FCA rules, even though I can repay and have sufficient equity in my house. I am considering taking Early Release from my pension and then 'repaying' the amount monthly as if it were a loan. I found out…
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pension deferral subtlety
Seektruth posted a link today in which I found: "Individuals who reach State Pension age before the implementation of the single-tier pension will continue to be able to defer their state pension in line with current rules. This will include the provisions that permit their surviving spouse or civil partner to inherit a…
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Pension contribition & flexible drawdown
I have just heard that the government is proposing to change the rules for how much can be contributed to your pension pot if you are in flexible drawdown. reducing the sum from £40,000 to £10,000. Can anyone explain what flexible drawdown is (as opposed to income drawdown). If wanted to take a cash lump sum from my…
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Urgent Pension legal advice
I urgently need a pensions specialist to help with an issue on public sector final salary pension scheme. On divorce my ex received a 48% pension share. It has come to light that they will receive annual cost of living increases which will be debited from the pension share I am left with. This case has been to the legal…
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Divorce query
I'm getting divorced, and need to give my ex c£30k, her pension scheme won't accept lump sum credit. Solicitor advises against earmarking. Can she open a new pension fund, bung the £30k in and then freeze it? Which provider might do this?
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Equity releasing a property to retire
Hi, I hope I have posted this in the correct section. My parents are at an age where they need to retire, but unfortunately they due to reasons not for here have no savings. They live in a property worth around £350K and upwards, but again due to reasons not for here they still have a big mortgage on the property of around…
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Pension buyout offer
Hi all My mother, who is in her 80s, has recently received a buyout offer from one of her pension providers. It is not a large sum (around £7500) and currently the pension plan gives her just under £1000 per year. She is unsure whether to take the lump sum as most of her brothers and sisters have lived into their 90s. Does…
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Considering Switching to SJP Advice?
I've a current pension pot of +£200K, sitting with Jessops and Clerical Medical with a small pot in Standard Life (Executive Pension Plan). With 20 years to go before retirement :beer: and no debt I'm able to save more for me and the wife. I work for a small limited company that I own 100%. My FA is currently St. James's…
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Options
Thoughts and Advise please- I need a plan. OH reaches spa 2016. I am earning £17k yr with personal pension which is ss and only containing £8.5K. Plus stakeholder £10.5K and another stakeholder with Pru £47k . I hope to retire early at oh spa 2016 and will be 62. My spa is 66 so approx. £30k of taxable allowance to use up…
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any point complaining to a CEO?
The question possibly doesnt need asking for i have just sent Jackie Hunt ,who is Prudential's CEO a strong email of condemnation for their atrocious customer services .I have never been fobbed off so much in my life and it has been constant .At first i thought i was dealing with a bunch of incompetents who lost documents,…
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Childcare vouchers - to continue with salary sacrifice from April in NHS?
Just currently mulling over what to do regarding childcare vouchers... Work in the NHS and am a basic rate taxpayer. I currently use salary sacrifice for childcare vouchers and sacrifice the full £243/month (wife also in NHS and sacrifices a smaller amount to cover childcare fees). Obviously the NHS pension changes in…
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IFA charges - are these reasonable
Hello again everyone I've now been for an initial meeting with an IFA/Chartered Financial Planner and got an initial sense of direction - and of potential charges. Any thoughts on whether this is reasonable would be much appreciated. Work falls into four parts: 1. Review £125k AVC portfolio (17 funds with two providers)…
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Cash out at 55
Hi I have a pension worth iro £35k and and I'm in a final salary scheme with 15 50ths paid up at the moment. Can I cash out of the final salary scheme when I reach 55 next April?
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New Pension Rules
"From April 2015, from age 55, whatever the size of a person’s defined contribution pension pot, we propose that they’ll be able to take it how they want, subject to their marginal rate of income tax in that year. 25% of their pot will remain tax-free." I have a stakeholder pension plan with a provider that only,…
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Is extra pension from NSP deferral inheritable?
I had always assumed that the increments (no longer called increments!) you get for deferring under NSP rules would be inheritable on death in the same way as they are for current deferrals and the upcoming class 3a increments. However I am being led to believe this is not the case. 5% increments for deferring when not…
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redundancy pension query
Hi i am being made redundant after 25 years i have decided to take my pension now but would like to work for two more years.I am 58 my pension would be around 6000 per year plus lump sum of £10000 can i put that pension somewhere to shelter it from tax. thanks for any comments