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Staging Date in August
Dear All, My partner's companies Staging Date is in August. The company has not mentioned Auto-enrolment at all with the employees. Does this Staging Date mean the first pension deductions start in August? My partner is concerned they have stuck their head in the sand and this worries her. Thanks, John
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Transferring pension scheme to ISA of choice
I was auto enrolled into a pension scheme with Now Pensions. I have been working fir the same company for three years and receive a basic wage of 7.20 and work a 40 hr week, sometimes more. I recently received correspondence from now pensions saying that I would receive 37p annually by the time I reach pension age. I will…
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is it possible to transfer private pension
Hello this has probably already been asked but I cant find it. So here goes. :( Q: I have a private pension from when I opted out of SERPS, I've since opted back in a long time ago. Can I transfer that private pension fund to the work based pension fund, the private pension pot isn't worth the paper it's printed on. £70…
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AE & Directors
My husband & I run a Ltd company and have two staff which we know are eligible for AE - I've seen lots of info about Directors not needing to AE (unless contract in place) but nothing about whether they are ABLE to AE? We currently pay ourselves a small salary & declare a dividend. I'm thinking it would be worth us also…
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Transferring NEST contributions
Can an employee who has been auto enrolled into NEST, transfer their and their employers contributions to a company pension scheme?
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Is pension safe in a SIPP
Am I correct that annuities are protected by FCA with no upper limit but a SIPP only has £50k protection. If you have £500k pot should you split it ten ways to be safe?
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Auto Enrolment refund
Hi I'm not sure if anyone can help me but I'm a little confused My company put me into our pension scheme on June 1st and sent me the option to opt out in July so I ended up making 2 payments of £51 They have advised me I'll be getting my refund this week for this but it is only £69.36 due to the tax. I understand that the…
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Private pension or Nest?
I have just been enrolled into NEST - I will stay enrolled in the expectation my employer will make contributions. However I already pay a substantial amount every month into a private pension. Should I continue paying into the private pension, which is small, and I believe 'low risk' or switch payments to NEST? Any advice…
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Work pensions
So this month our work's auto enrolment comes into force. Currently I've always had an Employer's pension which my company have paid into, but now my boss is saying that if we don't agree to enrolment and pay into our pension ourselves, then our current pension will stop too This seems wrong to me, as the pension agreement…
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Increase contributions to NEST or NI?
Hello! So I'm quite new to all this pension stuff. I've tried to look through other threads on here but it just confuses me! Firstly, I've recently been enrolled into NEST. My employer pays 5% and I'm paying like 1% or something? I'm really not sure. My question is, should I increase my contributions? I'm 29 so I know I'm…
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Auto enrolment charges 50% in first year?
Our pension advisor appointment was arranged for me today at work To join the scheme the minimum I can put in is 3% and the company will put in 3%, I thought the minimum was 1% but I was told our company has set the minimum as 3%, the advisor made a call in front of me to confirm it with his office. The form I signed had…
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Minimum Contribution
My company is suggesting the minimum auto-enrolled pension is 5% (which they will match the 5%). I can't really afford the full 5%. Do I have the right to go back and ask to give...say...1%, and have them match with 1%?
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Withdrawing pension pot after auto-enrollment
I am 53 and being auto-enrolled shortly. I'm happy with this but plan to only work for another 5 years hopefully. Does anyone know when I will be able to draw on this pension or if I'll be able to take the whole savings out as a lump sum? If I can take the whole lump sum as cash, will it be taxable? Thanks
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The People's Pension-soon to retire
My husband has just been enroled in The People's Pension but he retires in 18 months. Should he opt out as it doesn't seem worth it for such a short time. He doesn't have another pension and will only get the state pension but we are quite well off and will still have a good standard of living. Thanks
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Serps
I am . Approaching retirement, and I got a government pension statement,and my Cope amount is twice the amount that my pension company says it is and the Government said they will be reducing my pension by £11 p.w The company I worked for I had A seasonal contract for eight years(8months a year ) when I changed jobs within…
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Help needed quick : is NEST pension a scam?
I left my job at Starbucks a couple of weeks ago. A week after leaving that job I received a letter from NEST pension scheme informing me my employer Starbucks (Soul Coffee House) had automatically enrolled me onto the NEST pension scheme and that I have until the 16th (tomorrow) to opt-out. Is this a scam? I have been…
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Employer View: Auto-enrolment is adding fees to our existing pension scheme
For the last 15 years my small company has offered a matched 3% contributory pension scheme to all employees after a 6 month probation period, so auto-enrolment just seemed like a case of ditching the probation period. Each employee would sit down with the pension advisor, choose their risk profile, and select their fund…
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Two pensions and tax
Hello everyone This is my first post,I am not the sharpest knife in the draw so any help will be welcomed. I am almost 60,and at the moment I work for the local council as a road sweeper,I have been paying into the lgps for almost 27 years and meet the 85 year rule. I am also in receipt of a pension from my previous job as…
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Auto-enrolment from an employers perspective
Hi all I'm really interested to find out how employers feel about auto-enrolment and what their approach is when looking for a solution. I know this can be quite a daunting process. Do they research AE in the hope they can do this themselves? Do they look to their accountant or payroll? Do they shop around for an AE…
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Director with one employee - do i need to AE ?
I've tried to find the answer to my query by searching through old posts, as I'm sure someone will have already asked, but I just can't quite find the answer. I am the sole director of my Ltd company and pay myself £8040 per annum as a salary. I also take dividends from the business. I have one employee who earns circa…