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Pensions, annuities & retirement planning

Archives for April 2005

Pensions
When i started with my employer, i missed out on their pension scheme and started a pension so i can buy an annuity, don't know if i have done the right thing been paying into it for nearly 3 years, what do i do when i retire do i :j get the money back as a lump sum, also i had a company pension then i left what has…
Taking early retirement. What next?
When My husband turns 48 (2008) he will have completed 30 years in his profession (PSNI) and will be eligible to take early retirement as part of the Good Friday agreement. He will get a lump sum payment from his pension fund and a further payoff as agreed in the Good Friday Agreement. He will also receive a monthly…
Overpay on Pension or Mortgage?
This may be a simple or very difficult question to answer,but i would like some advice please. In approx April 2006,i should have an spare £600-700 per month. Six months ago,i would have wasted it on the lastest consumer product,but having discovered MSE,i would like to prepare for secure a decent financial future. The…
Offshore pension advice
Can anyone advise (ideally from personal experience) on a good offshore pension plan. It has to totally unlike the one I'm invoved in now, i.e. no massive charges, reasonable bid to offer spread,no penalty charges if you cease payments because it is not performing, etc. etc.!
Pension Expectations Spreadsheet
Hi, like many, I find the whole business of pensions quite confusing. Are there any spreadsheets out there that try and help provide an indication of how much a month you would have to live on if you were to retire tomorrow. It would need to try and cater for state pension, s2p, personal pensions, company pensions, etc.…
An old question?
You may have covered this before (several times?) bur despite going back a few pages I didnt really find anything helpful. I am 40, self employed and have my personal pension split over 4 companies (NPI, Scot.Widows, Nat.Mutual & Nor.Union), 3 of which are "With Profits" funds. My IFA has said that for 5 years, these have…
How to get pension / income with £2000
Hi all, I hope someone can give me a bit of assistance with this. My Grandad passed away about 10 years ago, leaving my Mother as execution of his will. He was seperated form my gran, but wanted £2000 invested, to give her an income of £20 per month. The £2000 wasn't enough at the time, so my Mum invested £5000, but she…
Trustees powers to reduce benefits!
I've been in a final salary pension scheme for many years. The scheme has stipulates that anyone retiring early, whilst still employed by the company will incur a 4% reduction per year from their pension, upto age 60 & if you are between the ages of 60 & 65 there is no reduction. Quite recently, the trustees have decided…
Stakeholder Pension transfer?
I have resigned from my current job, and will probably be taking up a job overseas. My employer and I have been paying into my stakeholder pension fund, but it has not been a particularly good investment, even though I have switched funds within the stakeholder company a few times. ( The website…
Salary Sacrifice to boost pension
If you work for an approachable employer (more likely in a small busines) or are a director in your own company taking a significant part of earnings in salary consider getting your pension paid directly from your employers. Reason: If you put £100 into a pension from your own money it is topped up to £128.21 (the £28.21…
Final salary scheme wound up and replaced
I have just been told that our final salary scheme is being wound up and replaced with a money purchase scheme. Anybody had any similar experiences and been able to do anything about it? I am not happy about it!!
SIPP - Maximum Contributions????
Does anybody know what the limit is for the maximum contributions in this tax year? I would like to set up a new SIPP and transfer in as much as I can ASAP. Is there an upper limit for employer's contributions? I have been told that the normal calculation is 17.5% of salary (I am under 35) but there are additional…
Transfer of Personal Pension Plan
I have just received a Personal Pension Plan Statement from NPI for which my previous employer and myself contributed. Since leaving my previous employer three years ago the sum is just sitting in the Unit Linked Property Fund with no contributions being added, is it straight forward to transfer the sum into my newly…
Personal Pension "too small to purchase annuity"
I got home last night to find that my partner's dad is having a little financial tussle with the financial adviser that brought a group personal pension scheme to his old firm. The scenario is a steel firm in Yorkshire (so no financial experts!). The company decided to set up a group personal pension scheme and the…
Which employee Pension???
Hi I've recently changed employers and have been offered one of two pension schemes. These are: - Lifestyle Investment & Individual Investment. There isn't a huge amount of detail attached to the Lifestyle Investment but the Individual Investment offers me the following options: - Investing a percentage in: - Adventurous…
Care Home fees paid out of Savings annuity
I have an auntie who has recently gone into a care home due to Parkinsons and dementure, she has a house worth about £160k and pension funds of about £115k, do you know of a high immediate needs annuity type fund to put all this money to get the best rate but still have it pay out the £3k each month for the home fees
Starting Pension age 40, self employed
Which is the best pension to get in this situation. Which company should I go to?
Should I transfer my pension?
I recently started work in a local authority school and have joined the superannuation pension scheme. During my previous employment, of 5 years, I contributed to a private pension scheme with Norwich Union. I now have the opportunity to transfer my Norwich Union fund to the superannuation scheme. Has anyone any advice, as…
Messy pensions need sorting!?!
Hi I need some help with organising my pensions. I have just changed job and I am unable to join the company pension scheme for 12 months. After going through all my paper work I now realise what a mess all my pensions are anyway! Some how I have managed to gather over the last 13 years 4 different pension plans! All of…
hope i dont sound thick but...
when you are contracted out how much is contracted out each week

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Pensions, annuities & retirement planning

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