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My Dads Pension
He has had a pension with Scottish Mutual for 22 years and pays a net premium of £1000 per year. He is concerned because he has received no bonus at all for the past four years and the fund is still at it's 2001 level. His pension will have a huge shortfall compared to the original quote, is there anything he can do?…
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what would you do
Hi I have been told a pension fund I paid into now worth £6110 is winding up and I have been given three options: 1. transfer the value into an individual account to a section 32a buy out policy staying with legal and general 2. transfer the value to a pension arrangment of my own choice (I currently work for NHS and am…
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How Can I Take Early Benefits From Group Retirement Benefit Scheme?
Hi All, I'm looking for some help. My husband recently found paperwork relating to a pension with a previous employer. Its taken absolutely ages to confirm that he still has benefits under the scheme but when he has asked about the value, his options to take benefits early and a copy of scheme rules for reference, the…
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can you use any money to buy an annuity at penison age?
Background. My husband is 42. We have paid off our mortgage. We have no debts. We have some savings. We don't have a good pension provision. He was self employed for several years where we paid a very small pension. For the last 6 years he has worked for a company where he pays £20 into a pension and the company pays £80 a…
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GAD tables query
After checking the GAD tables I have calculated a mamimum figure of £8,100 Am I correct that this is the amount that I can drawdown each year? If the investments perform ok, would this be an approximation of what I could expect each year till I reach 75? I have come across on some of the threads talk of ' 120% ' , how does…
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What if you go over the £10k in a pension
I've read thru many of the threads here and there seems to be a 'best rule' to try and get a £10k pension (per person) and then get your money outside (ISA etc) but I have been told I have a pension build up of £12.5k within my final salary and still have 10-17 years still to go. I am above high tax rate by about £8k (or…
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Pension Contributions - how much?
I have a question regarding pension contributions. I gather the accepted approach is now to half the age you start your pension and then adopt that as a percentage of your salary which you should contribute. What I would like to know is does this percentage take into account the tax relief I will receive on my…
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Allied Dunbar Pension - Early Encashment Penalty Due To Ill Health.
Hi. In September 2003 my father in law, then 56, was diagnosed with Kidney Cancer. Following his diagnosis he decided to vest the monies from his Allied Dunbar personal persion, however because the personal pension (a Retirement Annuity Contract - RAC) had a set minimum retirement age of 60 he was told by Allied Dunbar…
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Claims companies - contracting out cold calling
We often see posts on here from people cold called. Here is a pretty good site that discusses the rules that these claims management companies are meant to work under: http://www.advicenow.org.uk/go/feature/feature_346.html?pkgid=34 I draw your attention to: uninvited, calls at your door, phones you or comes up to you in…
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Bank of Scotland Pensions
Hi, My husband still has money in the zombie Equitable Life fund, so he invited a tied advisor to chat to us about moving the money into a Bank of Scotland pension (sounded like a stakeholder product but I was not in on the whole conversation as it was our son's bedtime!). The guy will of course be writing a report for us…
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Annuity Rates
Are annuity rates in any way related to the BoE base rate and if so might they rise shortly to reflect the recent increase?
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\\\Pensions advice please
I am a 49yr old higher rate taxpayer working in the construction industry and therefore tend to move company every few years. My current company does not have a group pension scheme and for the first time I have to consider making my own investment. I have accrued about £120,000 in previous schemes (some have protected…
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should i start a pension via my company?
hi, we had a meeting last month at work and they now offer a pension, you can pay what ever you like into it and they will pay 3% of you monthly salary into it each month. Now I’m 21 and don't really have any debts (have a few hundred to pay on a couple of things but that’s not anything to worry about) Now the thing is I…
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pension raiding gordon brown
is gordon brown legally allowed to take /steal 5billion each year from pension funds?, surely in european courts it could be argued as a abuse of privelage at the very least? Lower rates of pay for women and higher retirement age for men were overturned by european courts- and these were cast in stone for many decades,…
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investment bonds/property fund
I am 52 years old and have just been left some money by a relative, i currently have a 51k mortgage with 15 years left to run, i am currently on a tracker mortgage (capital & repayment) paying £430 p/month. i have been advised as an option to paying off the mortgage in full i could invest £51 in an investment bond using a…
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Defined Benefit help
Hello, I am a bit confused about the workings of a DB scheme. If a company offer 1/60th of final salary for each year of service, and you have worked there for 30 years, would that mean that they pay 30 x half of your salary on leaving when you reach pensionable age to purchase an annuity or whatever you chose? Any simple…
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seeking pension advice
I wonder if anyone can help? I worked for the NHS for around 20 years and also contributed towards AVCs for part of the time but no longer work for them so I froze the pension. When I left to have children I recognised that I needed some sort of pension provision so I took out a virgin money stakeholder and paid in what I…
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Property or a Pension?
I am 24 years old and self employed, living with my parents. I realise how important it is to make provisions for my retirement and I have been considering my options regarding a pension. I have savings of £16,500 and have been wondering whether instead of taking out a pension, it might be better to invest in a buy-to-let…
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Changing jobs-what to do with pension?
My partner has just changed jobs after 3 years. When she started her previous job (she works for a charity) she started paying into the pension scheme. She has now changed jobs, she is working for a similar salary but on reduced hours from her previous job (28 instead of 35). She now has to decide what to do with her…
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Scottish Life- unethical company??
Scottish Life conduct all of our contracted out business. They have just refused 500 applications as it has taken a view that because the majority of our customers are only in the UK for a short period, that the business was not profitable. There was no warning in advance, they just decided not to process the applications…
