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Salary sacrifice after public sector pension changes in April?
When a public sector final salary scheme changes to a career average scheme (as some are in April) does an existing salary sacrifice become a disadvantage as you are reducing pensionable pay? I don't do SS myself but am curious.
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40 year pension fund
My husband and I are quite confused regarding something we have heard and wondered if any one was able to help? My husband has paid into his pension for 40 years, is it correct that any further payments into the same pension will not increase the pension fund pot? Thanks
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Tax code, rental income and tax relief on pension contributions
Hello, Could anyone kindly clarify for me ? Tax year 2013/14 I made a gross lump sum contribution of more than 100% of my earnings into my NHS pension which resulted in my personal tax code being adjusted upward to reflect the tax relief due - I believe this is unusual but this is how it has been done for the last two…
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Pension contribution more than salary
I think I may have made a slight boob. I believe I may have paid more in a recently pension contribution to a SIPP that I am entitled to put in according to the rules. What will happen ? Will it now just get squared up at tax return time ? Or will i be penalised in some way. So Salary = approx £83k Company pension…
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Early Retirement at 55
Once again I’m getting the chance to take early retirement at 55 due to a demanning exercise with the following pension & cash. Didn't get out last time so maybe lucky this time. What are my best options for tax planning, investments to take a regular income etc? I have the following payments/options to consider Full…
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Old private pension performance
Hello all decided its time to get some advise on my private pension, I worry it is a poor product and dont know what I should do or can do about it. Seems like there is some very knowledgeable guys here who could hopefully help. First some basics, I am a 38 year old man and have been paying into a private plan since I was…
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Scottish Widows
Does anybody know whats happened to them? In the last month or so, every time i have had to contact them for work it has been a 15 to 20 minute wait on the phone and processes that should take 5 working days are dragging for months
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Need to get my pensions in order
Hello Approaching 60 and need to get my pensions in order About 6 weeks ago the Sunday Mail did an article on pensions and at the end of the article gave a contact (web or phone ?) for independent free advice regards pensions. I had meant to keep the article and get in touch with who ever it was but a prolonged 'senior…
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Miss sold pension compensation
I have a case where I was mis sold a pension in the 90,s I have contacted a company who said they can take my case on ,but they charge 35% plus VAT some others are advertising 15% plus vat on any monies recovered. I knew it would be a minefield and doing it myself would just mash my brain, anyone out there have any advice…
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40% Tax Relief on Pension
Hi All I have a query regarding Taxes on Pensions. I have a Private Pension which is £1500 per year and a separate Employee Pension £1200 per year . Should i be receiving 40% relief ? Thank you
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Final Salary Pension Schemes Merge
I worked for a company that had a final salary pension scheme and the wording regarding increases after retirement was based around the premise that the level of an annual increase was at the discretion of the board of trustees. However they never failed to pay an increase and they were broadly in line with inflation. This…
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can i cash out a private pension early?
hi, several years back i paid into a pension with a previous employer, i think they contributed the same as me, probably for around 6 months. i heard on the radio someone had cashed in their pension early but took a hit of 55% tax on it. is this possible for me to do? i'm 32 at the mo. thanks for any replies.
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Advice on Equity Release for Mum with Mild Dementia?
I would love some feedback on the subject of equity release. My dear mum has mild dementia, but is still relatively independent, and does not believe that she has any mental health issues. She lives alone, in her own property, which is worth approximately £250k. She lives on a basic pension, supplemented by a regular,…
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State Pension
Hi, does anyone know if it is possible to claim state pension at age 63? What if you are unemployed?
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alternative pension investments
i am considering going into a API pension i am 51 so have minimum 10 yrs before considering retirement has anybody got any pros+ cons about this let me know
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Pension income outside of tax/means test
Hi All - new the forum though been reading for some time and would love your opinions on my concern. I do wonder if i need to plan to have some financial assets that do not count as income that i can use when i retire. I am 58 and am pretty concerned that by the time i get my OAP that it could be further means tested as…
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Pension
Hi - I know there may be a load of threads on this and I know there will be some responses as in "cant offer actual financial advice on here" etc due to regs but I have a couple of queries... I am approaching 30 and do not have a pension. my company has started the auto enrollment thing and are essentially offering the min…
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State Pension - EU Member
Hello there. I'm not sure if this is in the correct place, but I thought I would ask anyway. I'm a German national, but I have lived and worked in the UK for 12 years. Therefore I have paid income tax and National Insurance for that period. I'm due to leave the UK (for the US) for a few years with work so I'm trying to…
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Do I have to accept this annuity
From and old job (decades ago), I have an annuity already, dated 1994. It comes from from a firm which has now closed down and the pension scheme wound up. I start to get the benefit in a year's time. Not a huge amount but welcome nonetheless As of 1994 it is 500odd pa 5% escalation. (Clerical Medical) Do I have any…
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NHS Ill Health Early retirement pension.
Hi there I have worked for the NHS in an admin role for the past 28 years -mostly part time, no less than 24 hours per week). I will be 50 in December this year and I have been in the NHS Pension Scheme since 1997. I also transferred a private pension into the NHS one which added (from memory 2 years). Within the past 18…