Pensions, annuities & retirement planning

Archives for May 2006

S2P and todays announcements
Help. I'm 36 earning approx £15k per annum. How do todays announcements affect my decision to contract in or out? I have been contracted out since being 18 until this current tax year when an advisor told me to contract back in. With todays announcements have I made the correct decision or is the water as muddy as…
54 and tired of work!!!
Considering early retirement next year (55th Birthday) when I believe I can start drawing my full State Pension (please correct me if I'm wrong) and hopeful get EVR from my employer, and some severance pay. I have some private pensions & investments which I don't want to start drawing until I'm 60 and then again at 65, but…
Which Pension Fund from L&G?
To summarise: For better or worse I have a basic stakeholder pension with Legal & General. When setting the account up, I picked what I thought was the best "middle of the road" fund, called "Managed Fund". Since then, a friend has set one up and was told the default is "UK Equity Fund". In all honesty, I have no clue…
pension/savings confusion-help!
Hi, i am trying to help my mum plan for retiring, she is 59 and presently working. My father died 7 years ago and she is in receipt of some pensions/benefits from his death. Looking through her savings/plans (with her permission of course!) we are very confused...she has numerous things set up (by a financial advisor 7…
Are cash pensions available?
Hi there, this will seem like a very newbie question. Although I am an active MSE'r elsewhere on the forums, this is the first time I have ever ventured towards the pension threads, for the following reason. I read Martins blog about pensions and noticed the following: I am 22 so haven't yet thought about pensions.…
Pensions consultation
Does anyone have any experience of members being consulted about changes in their pensions? Do employers merely go through the motions of explaining what's happening, or are there cases of minds actually being changed? What are the rules about this?
Do You HAVE To Retire?
Can anyone help, my Dad is coming up 65 and works as a Groundsman for the Local Council, my Mum says she read something about a new law whereby 65 year olds have an option to stay on or at least be offered the opportunity? She may have got a bit confused by the info she's read but I just wondered if anyone could throw some…
Tax and Pensions
:confused: I am due to get my national pension in Nov 06, As far as I know my personal pension allowance increases but any income over £19500 decreases the tax allowance by £1 for every £2 extra income. I am very near to that limit but by the way of An occupational pension which is taxable and two medical pensions which…
86 year old needs money help
My in-laws have some money in an ISA and an OEIC. They are house owners but are not in the inheritance tax bracket. They are both fairly fit and in their mid 80's. Whilst they know that they have to pay towards care should they need it, they are also keen that some of their hard earned savings go to their two sons and 4…
State Pension Entitlement
Can anyone tell me how I can find out if I need to topup my National Insurance contributions. I've lived abraod for over a year, been a Student and been unemplyed for a number of years. I've been in full time employment for the past 15years. Can anyone help? The pension\National insurance system is far too complicated for…
Norwich Union Stakeholder and External Funds
Hi, I hope someone might be able to clarrify the situation with Norwich Union Stakeholder and external funds. I have a NU Stakeholder plan I opened back in 2002. When I started it the AMC was 1% max. (actually 0.85% as it was through HL) and I had the choice of the usual 23 NU funds. Recently I have seen reference to the…
State Pension Forecast
Today I've got my State Pension Forecast using the online e-service. I plugged-in the answers to the questions, and the estimate showed that based on my NI contribution up to 5th April 2005 I have 38 qualifying years giving 87% of the full Basic Pension. The estimated State Pension in 2017, when I would be 65, would be…
Govt white paper details
http://money.guardian.co.uk/pensions/story/0,,1780264,00.html As often predicted, they will start raising the pension age (from 65) after 2020 - carrying on from the date of full equalization of men and women. (So no surprises there then.) Meanwhile, the scorecard of 'private industry' on pensions scarcely looks any…
Savings
When my wife and I reach retirement in a few years we have a number of small company pensions and private pensions.However I hope to have between £150k to £200k of liquid savings.I have seen a calculator showing how much money we can safely withdraw say over a 20 year period which would amount to about £1,000 per…
swiss pensions
My mother-in-law has recently discovered that she is entitled to a small swiss pension. Does anyone know the best way of avoiding the cost of exchanging the money which for some reason has been sent to her as a cheque in canadian dollars. We have had a few laughs about her opening a swiss bank account but really dont know…
Dying before taking any benefits.
Can someone tell me what usually happens if a person with an occupational pension scheme dies before they can take the pension....ie is the fund value as at the time of death or is it merely a return of the member' personal contributions that forms part of the estate. Also if a death in service payment is payable is this…
Civil Servant Pension
My wife is a civil servant and has a final salary scheme. She has had time off, bringing up kids and they estimate her final salary will be about 34/80. She can buy years. Does anybody know how this works please??? Regards Stebiz
If I die??
Just a little enquiry that is niggling me and wondered if there were any experts out there. I'm going on holiday with my wife and young family in Sept, and so is my Mum and Dad and Brother and his family. I have no other brothers or sisters. I don't have a will but my Mum and Dad do leaving all to Myself and Brother. What…
Wife older than Husband. Will she get pension at 60 ?
My wife is 9 years older than me....( she looks 9 years younger than me, but thats another story). She received a pensions forecast saying she would get something like £88 from her 60th birthday, which is next year. However I've heard that she might have to wait till I am 65 before getting anything. That would mean she…
stuck with less than 2 yrs contrib & no new home?
Hi I'm now a stay at home mum and will be for next 6 years and can't afford to pay into a private scheme. I have just under 2 years worth of contribtions paid into my last job's company scheme. I'm not allowed to keep this money in the scheme and my only choices are to either cash it in (less my employer's contribution,…

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MSE News

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.
State pension boosting to become easier as new online tool to launch within six months
A new online service designed to simplify how you check and pay for voluntary national insurance contributions is due to launch before the end of this financial year, the Government has confirmed to MoneySavingExpert.com.
NHS prescription costs in England to rise from May – check if you can save now
The charge for a single item will increase by 25p to £9.90 from Wednesday 1 May, the Government has confirmed. If you regularly pay for prescriptions, check if you can save by buying a prepayment certificate now.
NS&I launches 'British Savings Bonds' – but you can get better rates elsewhere
NS&I has launched its 'British Savings Bonds' – three-year fixed rate savings accounts first announced by the Chancellor in his Spring Budget last month. But they'll only pay 4.15% AER – a rate you can easily beat elsewhere.
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% next week, here's how to get a new passport for less.

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