Pensions, annuities & retirement planning

Archives for May 2005

Not working, but need a pension
I have recently had my third child and as it is not worthwhile me returning to work due to childcare costs, I am in the situation where I do not have any kind of pension. I am 34 and may not work for the next 5 years and even when I do, I may only earn a small part time salary. Although I don't have an income, I could put…
How can pensions be made to work?
In the same vein as the 'Should pensions be compulsory' thread, I wanted to get people's ideas on what would - in practical terms - help build confidence in pension saving - assuming that there is problem to be overcome. I can't claim to have thought about this too deeply, but I feel that pensions are just too abstracted…
N.I Rebates - how do they work them out?
Hello all, I just got my annual statements for my personal pensions. For my contracted out pension with Legal & General it seems that this year my N.I rebate comes to the grand total of zilch, nothing, nada, not a bean. In previous years the rebate has ranged from £1292.92 (2001/02) to £895.05 (2003/04). I have been…
What to do with 4 'frozen' pensions.
I've got 4 pension schemes ATM. I started my first private scheme when my comapny told me they weren't doing pensions. 5 years later, they started up a scheme. I stopped paying into my private scheme and contributed into the 1st works one. I left there and the next company put me in their scheme, so I stopped paying into…
Save half your age as a percent...
The calculation I've seen numerous times about the (minimum) amount to save for a pension is invariably given as half your age as a percent (e.g. 15% at age 30, 20% at 40) Two question on this: 1) Is this figure for if you've just started a pension, i.e if you start at 30 then you should save 15% until 65, or should it be…
Which pension fund should i invest in??
Hi, I’m hoping there may be some advisors on the board who can give me some free advice! - or anyone else with equivalent knowledge! I'm looking at changing one of the funds i have with a Friends Provident Pension. This isn't my main pension and only has about £1000 in and I’m not paying into this one. I'm 26 so it does…
Blind leading the blind!
After 18 years working as a carer for our children and then laterly for her dissabled mother, my wife recently went back to work at a university. At the start she opted for the clerical staff pension scheme but has the ability to opt out of it again and get her money back at any time in the first two years. Just recently…
Final Salary Pension - transfer and buy residential property?
Found this interesting article about proposed changes to Final Salary Pension transfer value calculations: http://news.ft.com/cms/s/d950fa3e-c3cb-11d9-a56d-00000e2511c8.html Suggests rules may be changed to allow investment in residential property via a SIPP. (Currently I believe only commercial properties can be used).…
Releasing Equity
Not sure which section this should be under, but hopefully someone can advise. We have a large house with no mortgage left on it now and we were wondering what would be the best way of releasing a chunk of the equity, whithout taking on another mortgage/loan. Iam retired and my wife will be shortly.
Should pensions be compulsory?
Since it's a bit quiet around here, thought I'd ask what others think as it seems Mr Blunkett will be out and about seeking input on this soon ;) My view is they already are, since you are forced to pay NI contributions which entitle you to the basic state pension plus the state second pension (S2P). You don't get these…
Norwich Union Opt Back In To SERPS
I have just heard that Norwich Union is going to opt back in to SERPS all of its clients that have opted out. Does anybody have an further information on this? Many thanks
Which option to choose
Advice please... I'm 54 redundant disabled wife and wish to retire... No mortgage or debt. Pension options are:- Max lump sum 58,000 with a reduced yearly pension of 13,000 or Reduced lump sum of 30,000 with a Max pension yearly of 15,000 or Level State options Max Lump sum of 58,000 with a yearly pension to state pension…
Civil Service AVC
I am employed in the Civil Service and have already bought added years, stakeholder plans. I have another 2% left over on pay (from the 15% maximum pension investment from pay). I am considering a Standard Life CSAVC. Does anyone know how I can minimise commission on the scheme? Is it possible to buy this CSAVC through a…
Pension qualification question
Hi, Posting this question on behalf of me mum, I don't really understand pensions that well so I'll phrase it as best I can... If a woman started work in 1961 (age 15), when would she have started paying "full stamp" (I assume this means full NICs?) - and depending on the answer to this, how many years would she then have…
Dimwit (Me!) Needs Early Pension Advice.
I wonder if anyone could kindly help my wife with what is probably a simple and common dilema? (She is more 'switched on' to this sort of thing than me but I thought it couldn't hurt to check the wise minds on this site). She is considering taking her pension 3 years early has been given the option to take a FULL AMOUNT OR…
University Pension: why is it so good?
My USS pension pays at a rate of 1/80th of my salary per year in the scheme. Some other schemes pay at a rate of 1/60th per year. So if I retired now my USS would pay about 11k per year but other schemes would pay about 15k. So why not opt for a scheme that offers this better rate?
Selling my fathers bungalow
My father has moved to a warden controlled flat and is presently renting out his bungalow. Although he is 80 he is still very fit and wants to sell the house to raise cash for a new car and holidays. The bungalow is worth in the region of £150,000 and my sister & I want him to keep as much of his money as he can. He worked…
Final Salary Annuity
All, My Mother is due to retire from her local government final salary pension scheme very soon. Is it possible/feasible for her to transfer her annuity to another provider in order to get a better rate? Thanx in Advance, D
Pension Broker
Hi, I'm not happy with my current pension provider and would like to change my contracted out serps payments into another, more competitive scheme. Are there pension brokers, similar to the discount stock brokers found on the internet that anyone can recoomend to me? Otherwise, can anyone recommend an IFA that doesn't…
Where do I Start?
I regularily read the money sections of the national newspapers, and keep up to date with any Financial goings on. I am just 18, and soon to go off to Uni. I have always read it is much better to start whilst young (paying into pensions etc.) to invest i would like to start a small regular saving to at least give me a…

★ ★ ★ Meet your Ambassadors

MSE News

Co-op Bank customer? You could be moved to Coventry Building Society in future – here's what's happening
The building society has today agreed to a potential takeover of the high street bank – though it's still very early days and the deal needs regulatory approval.
Got a text, email or letter from the Met Police? Don't ignore it – you may need to act to protect yourself from scams
If you got a text message or email from the Metropolitan Police between 4pm and 6pm on Wednesday 17 April – or you get a letter in the next few days – don't ignore it.
Save up to £1 on your takeaway coffee – while saving the planet
Many of us regularly reach for a cup of coffee or tea to give us a caffeine boost, but if you’re out and about and can't bring a thermos from home, the cost of this can quickly mount up.
Chase customer? Check if you can get its boosted 5.1% easy-access saver
If you have a Chase current account, you may be able to get a table-topping 5.1% easy-access savings rate to go with it, as the bank has launched a new, temporary bonus offer for some existing customers.
New online state pension boosting tool promised to Martin Lewis hit by delays – here's what you need to know
The tool was first promised to MoneySavingExpert.com founder Martin Lewis on ITV's The Martin Lewis Money Show Live last summer and was expected to launch before the end of the 2023/24 financial year.
Spotify to hike prices by up to £24 a year – here's what's happening
If you've got a Spotify Individual, Duo or Family account you'll see prices rise by up to £2 a month (equivalent to £24 a year) in a month's time, the music streaming service has announced.
Subway customer? You've got until 14 May to use your loyalty scheme points before shake-up – here's what's happening
If you're a Subway Rewards member, you have until the end of Tuesday 14 May to spend any points you've built up – or lose them entirely.
Nearly 850,000 people missed out on cheaper passports last year – here's how to cut costs and beat the upcoming price hikes
Nearly 850,000 people missed out on cheaper passports last year – and with fees rising by 7% this week, here's how to get a new passport for less.
Ted Baker to close 15 stores as it falls into administration – your shopping, refund and gift card rights explained
Fashion retailer Ted Baker will close 15 stores, including 11 by the end of next week, after falling into administration last month. Hundreds of staff are facing redundancy as a result of the administration.

View All

Pensions, annuities & retirement planning

Discussion List

Get our FREE Weekly email full of deals & guides - and it’s spam-free