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Military Pension
I am currently in receipt of a Military pension from 2004 which is 8k a year. This is index linked with CPI yearly returning to its normal value in 2019. Does anyone have any rough idea what it could be worth then assuming CPI remains low. Appreciate any rough estimates.Thanks
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State Pension Question
Hi, Another question in my learning and financial/retirement planning journey. This one related how "Contracting Out" will affect my state pension. I have been working since 1988 for the same company. I worked for 14 months for another company in 1986/87 and paid NI during that time. I got a statement from the DWP a few…
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Retired mother lives with us: does it affect self-assessment?
I'm not sure which forum to post this (please do advise if I should move the post to a different forum. Sorry :o ). My mother (75 years old) came to stay with us early February 2014. As it's time for filling out self-assessment form, I don't know what to do :o with regards to my mother's pension (which goes straight into…
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old tax relief
Hi this is my first post on this forum I took out my first pension pot aged 26 in 1983 with Barclays when I was self employed the Thatcher government at that time was giving 33% tax relief on private pensions do I still qualify or is it 25% My other question as the pension company will charge me with huge transfer…
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Balanced and Diverse
Seems to take a lot of work to establish a well balanced and diverse portfolio not to mention re-balancing and monitoring. Been looking at the Vanguard Lifestyle Funds and I'm tempted, would be grateful for views on this as well as other means of establishing a diverse and balanced portfolio. One comment I would make about…
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Non-taxpayer - how do I find my tax office?
This query has been generated by a "cheery" article on what to do regarding tax and income matters after a spouse's death. I am in my 70s and have been a non-taxpayer for many years. Husband - still hale and hearty - is in his 80s and is a basic-rate taxpayer. I have registered to receive savings interest gross on my…
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Who polices the 25% tax free pension lump sum
I am wondering about the mechanics of ensuring that we can't take more than 25% of our pension pots tax free. So lets say I have the following - 1. DB company pension yearly income of £25,000 plus a £100,000 lump sum. Total pot value of £600,000 (yearly income x 20 plus lump sum). 2. DC SIPP of £200,000 TOTAL Pension Value…
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Simple (?) question about a pension
Hi fellow forum folks, I'm trying to get my head around pensions as I feel the clock is ticking and we have no decent pension plan for the OH who is a higher rate tax payer. There are a couple of questions that I'm trying to understand..... 1) So, say we accumulate a pension pot worth of X, which then provides one an…
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Aegon Section 32 GMP problem
I have a policy with Aegon (Scottish Equitable) under a section 32 buyout. The policy schedule when issued included reserved contributions for a GMP of £752.44 revalued to state pension age of £6,275.44. The rate of revaluation was 8.5% The service under the original pension started in 1977 and ended in 1987, the…
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What is the maximum state pension?
I am interested to know what the maximum state pension that can be achieved is. Any help?
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BT Pension
Have friend who is in latest BT pension scheme and is in 40% tax bracket and does not use salary sacrifice . Does anyone know if she have to claim some of the tax relief back herself or is this handled automatically for her by the BT scheme. Thanks
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I need a good FA - how do I go about finding one?
Hi All I need to review both my and my husband's pensions and our wills in respect of inheritance tax. How can I find a good FA in my part of the country (Warwickshire). I don't just want to pick one off the internet or out of the Yellow book so would prefer one that is recommended. Can anyone suggest how I go about…
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Advice for mother about to retire
Many thanks for any help given here, Situation: Mother in mid 60's who is shortly to retire No mortgage, very active and in good health Current Income : £20,000 State pension future estimate, - aprox £7000 pa Savings: £15,000 Income from lodger: £4200 pa No private pension She has been deferring the state pension for 4…
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Lump Sum Pension Investment and Recycling
I have been reading some of my company pension documentation relating to AVCs. My scheme allows salary sacrifice and lump sum investments. Given that this tax year is nearly done and that I have contribution allowances carried over from the previous few years, I was considering a lump sum to catchup. Maybe £30K+ish.…
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Pension money
Hi all, Need a bit of advice from the experts.... Have recently changed job and the pension scheme is awful. Basically the company pays only 1% into the pot topped at £50 (nothing really). BR payer, 42 planning to retire at 67. My question is: I am 100% offsetting my mortgage (using savings) and want to find out whether it…
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Where can I contact to make sure my contributions are up to date?
I opted out of pension some years back then opted back in again Where can I contact to make sure my contributions are up to date?
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Transfer or opt back in? - Contracted out pension
Hi there, After a short period (under 12 months) of employment with a company - I accrued approximately £4K worth of pension contributions in a contracted out scheme. The scheme of my new employer will not accept transfers from a contracted out scheme - and my old employer will not allow me to keep my contributions in…
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Transferring a Pension
I have an old group pension plan with my last employer. I have made no contributions to it since I stopped working for them 13 years ago. It isn't worth much, around £14K. Is it always possible to transfer a pension? There is nothing in the provider's FAQ sections about how to transfer. But it does give a figure called…
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pension questions
hi out there.i am a ex service man living in germany and shall be recieving my preserved pension at the age of 60yrs can any one tell me the reasen why i am intitield to a lump sum of money when i reache the age of 60 yrs. i am not conplainig but i would like to know why
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Is It Worth Taking a Pension For 16 Months?
I am 63, 16 months from the state retirement age of 65, and would be grateful for your advice on taking out a pension, probably a stakeholder pension or SIPP, to take advantage of the tax relief on current tax year earnings. The pension would be held in low risk funds or cash, and 25% would be taken tax free at 65, plus…