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  • FIRST POST
    • stolt
    • By stolt 12th Mar 17, 12:44 PM
    • 2,782Posts
    • 1,206Thanks
    stolt
    Pension planning, so many questions with not enough answers?
    • #1
    • 12th Mar 17, 12:44 PM
    Pension planning, so many questions with not enough answers? 12th Mar 17 at 12:44 PM
    h everyone, i need some advice I have spoken to our accountant at work but his patience is well not too great.
    ive spent alot of the last week looking at pension information online and realise i need to sort everything out and have a plan so i can plan for a good retirement.

    Im 42years old i have work pension which is with Aviva the plan value is 138,868gbp it shows payments of 714gbp a month contribution from my employer which i need to check with my work because when looking on the yearly statement it shows 8601 payments but i cant see my payments. I know im on a salary sacrifice scheme so maybe thats why.

    the plan is on the aviva mixed 40-85% shared s6.

    avia let you go online and you can go for higher risk plan but ive been reading up and will do some more before taking the plunge on moving it because i know there is alot of risk but i dont want to leave it too late before going to a higher risk plan.

    can anyone offer some advice on where to look for this advice and where i can break down where best to check which plan would be better for me.

    my aim would be to retire at 60 and looking at what ive read to get a income of aroudn 20k a year the paln needs to be around 350k, i know in the next 20 years my plan will increase anyway. my wife hast worked for 10years and has a very small private pension so i will need something to support us both.
    Last edited by stolt; 12-03-2017 at 2:38 PM.
    Listen to what people say, but watch what people what people do!!
Page 2
    • atush
    • By atush 19th Mar 17, 8:55 AM
    • 15,815 Posts
    • 9,586 Thanks
    atush
    It wont be gone, it will be out there somewhere.

    What are the starting amounts for both SPs?
    • stolt
    • By stolt 22nd Mar 17, 11:01 PM
    • 2,782 Posts
    • 1,206 Thanks
    stolt
    It wont be gone, it will be out there somewhere.

    What are the starting amounts for both SPs?
    Originally posted by atush
    looking on my wifes as thats my worry, it shows
    You can get your State Pension on 3 June 2040.

    Your forecast is
    155.65 a week
    676.80 a month, 8,121.59 a year

    our forecast
    • is not a guarantee and is based on the current law
    • does not include any increase due to inflation
    You need to continue to contribute National Insurance to reach your forecast

    Estimate based on your National Insurance record up to 5 April 2016
    • 116.13 a week

    Forecast if you contribute another 9 years before 5 April 2040
    • 155.65 a week
    Listen to what people say, but watch what people what people do!!
    • atush
    • By atush 23rd Mar 17, 1:42 PM
    • 15,815 Posts
    • 9,586 Thanks
    atush
    So if both still working you'll get to the full 155 new SP.

    AS for your aviva plan, Ic ant tell you what to invest in. I can tell you that I was reviewing one of ours yesterday and today as I am amking a lump sum payment in. I have the same fund that you do, only v3. Is is risk factor 3 out of 5. I have a risk 5 one, Fidelity Special situations ( I also have this outside a pension) and am just adding a risk 4 one.

    Many of our other pensions are lower risk incl some old WP plans and a large company one that is mainly in cash/gilts (they required this as it was a replacement plan for an old DB one).

    So you need to balance your risks overall, not just in this pension. I am assuming you have S&S isas too (to pay for Uni).
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