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Pensions Planning: The NUMBER
The NUMBER is how much income you need to "live comfortably" So What's your number? Very important for pensions planning, to know what you are aiming for. My Number? (for a couple) I calculated: £22,000 based on Food £5,000 Car/transport £5,000 Bills/Utilities £4,500 Holidays/Leisure £4,500 Clothing/Cash/Xmas/Other £2,000…
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Success Stories - Pensions
This is a bit of a light topic where the idea is to highlight what successes you had with your pension pots. Example - I contributed X and accumulated Y by Z year. Total appreciation was 'x' percent. Just trying to learn the following that could inspire a range of people - those with no pension, those who started late etc.…
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Good (and short!) explanation of COPE
There are lots of queries about COPE cropping up regularly. This is one of the better, not to mention shorter, explanations I could find which might help: https://www.wypf.org.uk/pensioner/all-about-my-pension/contracted-out-pension-equivalent-cope-amount/
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Acronyms etc..
Hello to all. As a fairly new forum user I would appreciate someone posting a key to the acronyms and arcane terms used when discussing pension issues. Thank you in advance.
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New board for state pension top-up / Future Pension Centre / voluntary NICs questions
Hi all Regulars on this board will well know how many threads we've seen in recent months about Future Pension Centre-related questions. As a result of a great suggestion from a Forumite (passed on by a Forum Ambassador) we've created a new sub-board for all these types of threads: ➡️ Topping up your state pension ⬅️ If…
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Pensions, Annuities & Retirement Planning Sticky
Welcome to the new Pensions, Annuities and Retirement Planning sticky! 👋 📖 Here are some Forum threads you may find useful (if there are any you think have been missed, please do let me know): * Can I cash in my pension? * Early-retirement wannabe * It's time to start digging up those Squirrelled Nuts!!!! 📝 And here's some…
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Proximity to Retirement Jitters
This recent rally is giving me the jitters . I’m in lucky position to be considering retirement in 2 years time - Age 54. The recent rally and maximum pension contributions past couple of years have got us to a good number in DC pension + SS ISA + Cash ISA. Despite being pretty financially savvy , and knowing that “number”…
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Sharia index tracker versus global (ethical) equity in workplace pension (USS)
Hi Everyone, Just looking to get some thoughts on the merits of different funds when there is a limited choice within a workplace pension, particularly Sharia versus ethical funds. I am referring to the DC part of the USS hybrid pension scheme, but aiming to understand all of these funds, and their pros and cons. For…
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Bucket drawdown strategy, what to put in medium term bucket?
Hi to all you extremely helpful regulars. I've been retired for a couple of years now and so far our spending has been taken from Mrs LW's P/T earnings, rental income and drawing down cash. We have untouched SIPPs and ISAs. I am 59 and my wife is 57, she will retire in 3 years with a DB income that just about replaces her…
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No tax relief on my current pension?
Hello all, I'm hoping someone on here will be able to give me a hand, because after a lot of google searches I cant seem to find anyone else who has been through this situation. I work at a small company, about 100 employees, and have done for 4 and a half years. I work full time, on a salary of roughly £36k. I did a bit…
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Divorce - NHS Pension
If an NHS pension is the main asset in a divorce, and split 50/50, does the non-NHS employed spouse have to wait until the pension age specified in the pension to get the money and is it given as a lump sum or monthly payment? Thanks
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Absolute plonker here who needs help. SHPS deferred benefit
I'm talking plonker! I am a 60 year old woman with a very old SHPS pension, I know its not going to be a great deal of money as it says ... estimated on returned at age 60 a pension each year of £2,713.65. I have stage 4 breast cancer and have a completed SR1 form from my oncologist. I still have 4 years on my mortgage so…
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My pension lump sum was paid out but not to me
I have been looking into lost pensions and i remembered I had a private pension with a company called NEI Projects around 40 years ago. When I looked them up on line it seems they have been since taken over by Rolls Royce. I then remembered that I saw an entry on my personal tax summary some years ago showing as rolls…
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French pension problems
I am a retired British citizen, ow living back in the UK.I worked in France for a few years in 1970s and had been receiving my French pension. This stopped abruptly three years ago. Since this time I have made contact with the pension department many times and submitted identical paperwork when repeatedly requested. This…
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What to do with all your time?
I thought it might be interesting to get some perspectives from the hive mind here running: might help others. We all know that those who have bitten the bullet almost all wonder how they had time to work, but perhaps this thread could give others ideas? Not wanting to focus on the financial aspects - most threads here do…
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Are we nearly there yet? Option for VR
It's been about 5 years now since husband and I got really interested in FIRE and it feels like we've made good progress in the last few years. Rough plan is to retire in 2 years time when we will be 53/55. We would be happy with a joint income of £40K per year. At the moment we have joint DC pots of £550K and cash / S&S…
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Pension options
Hi, My son has 8/9 small pensions with 5/6 providers after being auto-enrolled by previous employers. He has now found a job which he will hopefully stay in for many years and will soon get auto-enrolled in their pension scheme. My question is where is the best place to get advice about what to do about all the small…
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Transferring 8 Pensions into Vanguard SIPP - Good Idea?
I have been lazy with my pension pots over the years through different employers and those pots have just been sitting there with exorbitant fees and poor growth. I am now planning to do something about it before it is too late, I am in my 40s. The pensions I have are a combination of small and big pots with the likes of…
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Private Pensions Advice
Hello My husband has several small private pensions from various employments - I can't imagine they are worth very much. Is it worth combining them all before claiming? I've no idea on this so any advice would be much appreciated, thanks.
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I did it… I’m retiring… no more dithering
Update… I’m officially retiring as of October, after much dithering! Plenty to sort out workwise, but also starting to allow myself to plan my retirement! Thanks to those of you who’ve helped along the way by commenting on my previous posts.
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Pension Pot Gone Down!!
I consulted a financial advisor who invested my meagre retirement amount of money last year. I haven’t looked at it until now as I know it’s not good to look at it regularly and am horrified that it’s gone down £8000! Whereas I know they go down as well as up I didn’t expect that amount of drop in a year?! It’s all…
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Interactive Investor SIPP question
I note there is a fee of 12.99 per month. Is this the II "platform fee"? You also have to pay a percentage fee - albeit smallish generally around the 0.2% mark - for the various funds that you decide to invest in??? Trying to do the numbers. My workplace pension offers a fee of 0.3% so by the time the platform fee and fund…
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Drama Trivial commutation NHS Pensions
I decided to take my 2008 NHS pension as a trivial commutation, it's capital value is around 22k. I plan to buy a camper this year and have some fun. I duly filed the AW8 form, the form to request trivial commutation AND two cover letters requesting a trivial commutation. I have chosen to retire and return so that I can…
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Being made redundant ....woohoo.....
I am 64 I am being made redundant in July or August (Or to be precise. I am being made volentary redundant. Which leaves my job open to a younger colleague who would otherwise be finished) So being retired 19 months early, helping a younger colleague, and getting a 'bung' ....woohoo... The redundancy will cover the lack of…
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Commute 25% tax free lump sum - Deferred Pension
Hello, I'm new to the forum and I have a question regarding a deferred pension. I should start by saying that I have little knowledge on this topic so any advice/comments from more experienced users would be greatly appreciated. I apologise in advance for the long post! Not sure what information is necessary to provide so…
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Bold leap into retirement
Morning all, I hope you have managed to find some time for yourself in what can be a busy period. We have enjoyed spending time with family over the last 3 days, it’s a quiet one today, then off to visit more family tomorrow. I’m not planning anything wild for NYE, but have been really starting to think about what I want…