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Compulsory IFA advice before starting a SIPP?
Hi there, This must have passed me by: A colleague has been told he cannot open a new SIPP unless he first takes financial advice from a FA (not sure if it has to be an IFA). I thought this might come in the future but I wasn't aware it had already started. Colleague also reports he has sent enquiry letters to six IFAs and…
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Army pension
Hi all, im 46 and did 22yrs in the army and at present recieve my monthly pension. What i was wondering is can i ask to take a lump of money out of my pension pot ? any help appreciated :-)
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Pension planning spreadsheets
I have found several online calculators for working out what we could have when we retire, but I can't find anything which works out what we have, what we need, and how long it would take to spend in retirement, therefore helping us decide when we can retire. Does such a thing exist, or do I have to get my other half to…
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FRIENDS LIFE - AVOID AVOID AVOID !!!i
I have had a personal pension with wintherthur since I left the forces in 1990 - 2 years ago wintherthur was taken over by friends life - since the take over I had never had a statement - 2 months ago I had made arrangements with my local HSBC bank to have a pension review ( I also have a small pension with HSBC ) so I…
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work place pension - when a company has not been staged to offer yet
Hello - I am wondering if anyone has experience with workplace pensions where the company is not staged/scheduled to go live yet according to the HRMC but is in a position to do so and are willing to do so. Is this possible. I rang a few advice lines but was told that they could only bring the staging date ahead 3 mths...
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Inheritance Tax Protection
With Inheritance Tax I understand I cannot gift a major share of my house to my son to avoid this tax if I continue to live in it. But I've heard some aspects of 'gifting' change if you don't die within a seven year period of making the gift. Would this apply to giving him a share of the house if i continue to live in it?…
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AVCs versus Private Penisons
Hello I've got a local government pension, and I can get an AVC pension via The Prudential. I've not done this, but I was wondering if anyone could quickly highlight the benefits of AVCs versus additional savings in my Private Stakeholder Pension with Aviva and Friends Life? Thanks!
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Pension Forecast
Does anybody know how long it will take to get a pension forecast. I need one really quickly - if I call them up will I get an instant forecast? I registered online this morning but they issue a code which is sent in the post and that could take 7 days. This is too long. Any suggestions?
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Teachers voluntary contributions
Hello Does anyone have any information on the reputation or performance of investments made through teachers additional voluntary contributions with the Prudential? Thanks
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Lump sum rumours!
HI, can anyone help. I currently work for the London Ambulance Service and there have been rumours of the good old Government changing the rules next year on lump sums in that they plan to tax quite a large amount of it. I have tried contacting my pensions department but they are not answering the phone. Does anyone know…
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drwadown pension release
im 59yrs old and already have a drawdown on one of my pensions does anyone no if i could draw the whole of this pension at 60 around £43,000 because i already have a NHS pension to draw when i retire.:money:
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Every so often I get the fear....
Every so often (usually when I receive my pension contribution increase letter, which I have today!!) I get the fear that paying into my pension is the wrong thing to do. I am a teacher and so am enrolled in teachers pension. My contributions are at just about 10%. To me, each month this goes out of my payslip I feel a…
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unlocking pension pot
Help, can anyone tell me how i would unlock a pension pot I took out years ago when i worked for another co. and stopped paying into around 8yrs ago? I have got spiraling debt including a huge mortgage and digging myself deeper and deeper trying to get myself out! I now have an nhs pension with my employer but want to take…
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Civil Service Pensions
I am in the 'Classic' scheme, and as I'm knocking on a bit I get to stay in it until 1 Aug 2020. Reading the literature, I believe that if I leave the pension scheme entirely at that point, then when I do retire my pension will be based on my pay at 1 Aug 2020, but uprated by CPI each year, so when I do retire (in 2023) my…
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Lifetime Allowance question
Hello Moneysavers Before the budget, I was considering reducing my contributions into my company DC scheme with the Pru from my current (matched) 10%, because as a 45% taxpayer, its very likely that my pension will exceed the 1.25m lifetime allowance, and instead my wife would have maximised her payments into a SIPP. Her…
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Thinking of moving pension fund from Aviva to a discount pension provider - Thoughts?
I currently have my personal pension invested with Aviva's 'Aviva Pensions Mixed Investment (40-85% Shares) S2' fund, but thinking I should move this to one of the discount pension funds such as highlighted here http://www.moneysavingexpert.com/savings/discount-pensions…
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Agency commission
I'm due to retire on May 31, so I've been shopping around for an enhanced annuity. One agency produced the best offer, but when I looked at the details, I was horrified to discover that over 3% of my £200,000+ pot would be paid to the agent as commission. This is on the basis of them doing five minutes of online search…
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Overpaying mortgage versus increasing pension contributions
I am not sure if I have put this in the right place, but is it generally better to increase your pension contributions or to overpay your mortgage? I have tended to overpay my mortgage when I can. I recently checked an online pension calculator and that indicated that I ought to increase my pension contributions. I loathe…
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Please help with NHS Pension Purchase and Tax Relief
I am so frustrated and getting nowhere and am going to be so disappointed if I'm wrong but anyway. My husband made a purchase of Additional Pension in the NHS Scheme. He made the payment with his savings and we were told by the NHS that he would need to apply for a Rebate of Tax directly from the HMRC. I wrote to the HMRC…
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TFLS in stages?
If I put my pension pot in an income downdrawn sheme or SIPP, can I take the tax free lump sum in stages over a 4 year period? My plan would be to use my State pension and some income downdrawn to reach the tax free allowance of 10k p.a. then top that up with a further 10k p.a. from my £40k tax free allowance. Thanks