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Am I able to make voluntary National Insurance after decades of leaving the UK?
If I have accrued 4 years of National Insurance (NI) records in the UK and subsequently relocate to work and reside in another country for several decades, would I still be eligible to voluntarily contribute to make up for the remaining 6 years of NI contributions before reaching retirement age? This way, I can ensure that…
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Pension Illustration Error?
Hi pensions experts, I have a Defined Benefits pension - I won't say at this stage who the employer or the who the Pension administrator is. Upon retirement I have been planning on taking the 25% tax free lump sum and reduced annual pension. The pension administrators system has an illustrator that provides an estimate…
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Downsizing and retirement planning
Reading posts on here is bitter sweet, I wish I had joined earlier! I may have missed a few opportunities to make a better retirement pot than I did. But I am lucky enough to be mortgage free at least. So on that theme, has anyone got any pointers on how to optimise for retirement any funds released from downsizing ?
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Small Pension Pot
I have a small 2nd pension pot worth £5500. This is standalone form my main pension fund. I have not yet taken any taxable pension payment, only a small portion of my tax free allowance. I am retired and aim to earn less than £12570 this tax year. Can i take the 5500 tax free if i stay under £12570? Are there other…
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USS - growth fund
I started with the USS investment builder in 2016. My main aim was to preserve child benefit by
being under the income threshold and also get
some additional pension. I put the funds,
plus employer contribution to DC, in USS growth fund which was marked as high
risk, but potential high return and seemed an easy choice.…
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Interactive Investor TFC Withdrawal 25% value date
For anyone who has done this, and if I ask to take the full 25% TFC from my pot, can I ask whether II warn you in advance what will be the actual date that they will calculate the value of the 25%? It says on the website that they take approximately 10 business days to process the request. Does this mean I need to…
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Taxed on private pension
Hi, Not sure where to post, so I'll try here. I recently cashed in a small PP, £39,000, however, from that amount £11,500 was deducted for tax, leaving £27,5000 😢 I'm in fulltime employment, working for the NHS as a HCA, I'm just curious, will I be able to claim any of that £11,500 tax back?
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Gilt Ladder building tool questions
A while ago on a thread someone (apologies I am not sure who) posted a page with a tool that someone developed to select a gilt ladder. https://lategenxer.streamlit.app/Gilt_Ladder Can anyone who knows about Gilt ladders comment on whether the data this is using is current as the help page for this tool seems to be empty?…
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Care home fee annuity versus pension annuity?
Talking to someone who is thinking of buying a care home fee annuity for an elderly relative using the proceeds from the sale of his previous residence, I am left puzzled as to the difference between a care home fee annuity and any other annuity such as that from a pension. Why are there apparently only 4 providers of care…
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Willis Towers Watson - Lloyds - HBOS Final Salary Pension Scheme
I have a pension held by the above. It is a old work pension with the Bank of Scotland who transferred it to Lloyds. It is under the HBOS Final Salary Pension Scheme I turm 55 in October and would like to take 25% in cash, the pension pot has a value of £104k. I have asked Lloyds by email if I can take the 25% but can…
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True potential issues
Hi guys I have left true potential and very happy at a j bell chalk and cheese
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Allocation of funds in Pension
Hi all Interested in opinions and thoughts on the weighting given to funds in pensions. I have a pretty generous scheme with my employer, with 20% of salary going in to my DC pot. The default allocation (I think) is 50/50 Global Equity fund - being made up of 50% Vanguard FTSE Developed World ex UK Pension Fund and…
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Late Change to Tax Code FY23/24 On Achieving State Pension Age
I retired from the RAF in March 2023 when reaching age 65. I started FY 23/24 on a Tax code of 1396M based only on personal allowance, marriage transfer allowance from my wife and a professional subscription. My income for the year was solely an RAF pension well within the upper limit for 20% basic tax. However, when I…
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Back Dated Payments
I have a state pension query if anyone has knowledge or experience please? Currently x years short of full state pension which I can pay up to sometime in 2025. I’m due to get mine this July. If I was to buy those years after I get my state pension will the additional payments be back dated to July or from when I buy back…
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Sipp starting one late
Hope a poster can clarify for me. Background.Feel quite fortunate. Retired with employer FS pension income and nearly full state pension. Basic rate tax payer.This year will be able to fully top up ISA and a Savings account to get max tax free interest from them. Plenty of pension headroom so not going to reach the overall…
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Transferring local government pension to teachers pension
I have a deferred lgps I am currently in the teachers pension scheme. Can I transfer the lgps in to teachers pension scheme. It seems to suggest this in the letter.i have from lgps. I'm thinking of transferring as the rate the pension goes up every year in the teachers scheme is more. CPI plus 1.9%.
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Surrender meaning
Friend got thus recently, hasn't a clue what it means and asked me. Could someone explain? Dies it mean taking a lower amount, and in return he MAY get a higher yearly increase in the future? I'm guessing on the off-chance we get a massive inflation year?
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AVC nightmare
I was given a AVC by HSBC as a result of the pension mis-selling in 1994. As I was already in the NHS pension scheme, I did nothing with this. Now that I no longer work I want to cash in the AVC as it’s a small amount and will only give me a £2 (yes, £2) a month pension. My Problem is that… I cannot find anywhere how to…
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Tax question regarding accessing 100% of SIPP in one go
I have about 50K in a SIPP. I would like to use it all in one go, to contribute towards moving home. (Sell my flat, and buy a house.) I understand that 25% of the SIPP is tax free. I am currently only on tax free DWP benefits (not working atm), and so I am hoping that I can get a further £12,570 of it tax free? Is this…
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State Pension Different Rates
Just a quicky everyone. I have received my state pension forecast which is approx £221/week and that this is the max I can receive. I have full contributions. However, a couple of friends of mine of similar age have a forecast of approx £253/week. I thought the difference was because I was opted out of SERPS back in the…