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A few pension queries..
Any help from the following would be appreciated..it mainly revolves around pending divorce and my desire to start taking pension benefits when I am 50 in less than 2 years time..i hav a sipp and a contracted out policy with CIS in there with profits fund 1.Can i take inc drawdown without taking my 25% cash sum until a…
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Is This The Best Income Drawdown Pension
My Personel Pension Plan matures when I'm 60 in July. Its worth about £60k after I've taken 25% cash out. I am down to 2 options, a 100% joint life level annuity of about £3500/yr or an income drawdown SIPP providing around £4800, a hugh increase. Initially I was afraid of the drawdown option because of the risk to capital…
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My fiance doesnt have a pension or savings! Help
The dilemma is this....my fiance who contributes most to the household budget etc doesnt have a pension or savings...he is 33 this year. He doesnt seem to be worried but I am....I only have a small preserved pension from 5 years in the Civil Service and am paying into a work based one now but only work pt (As am at home…
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Is it normal for small companies not to offer to contribute to a pension?
I have just been offered a promotion at my small (<50 people) company, where I started work at my first "proper" job after graduation. As I will now have more money available I want to start putting some in a pension to take advantage of their tax-efficient status. I have enquired, and my company offers the minimum…
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Should i take this pension now?
I am 60 not working and have a company pension, i have now been given the option of taking another company pension, its only £1200 pa, but it is index linked,best to take now or wait till 65,there are no more payments going into this pension.
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Contracting out - should I?
In the light of all the pensions changes in the last few years (and probable future changes) I am wondering whether or not I should be considering contracting out from the State second pension. I am 25 and currently have a money purchase plan with my employer (6% matched contributions) and I also pay a further 3% into a…
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I have debts - should I still start a pension?
I am a recently married 33 yr old. I am about 10k in debt (I know, I know). All my cards are on 0% and I am expecting a very small windfall shortly which will help me clear a small loan but still leave me with several k on cards. I am extremely concerned about my financial future and want to get my house in order. I paid…
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Transferring INTO LGPS
My wife is 45 and has a part time job with our County Council ( earning about 4500 pa on a Salary Rate of 8900 ) She has been in the LGPS since October 06. We have investigated a transfer of her current Stakeholder Pension into the LGPS, it is worth about 15,700.00 ( about 50/50 contributions and protected rights ) and the…
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Scottish Widows free standing AVC
Now that I have sorted out all our ISAs and other savings I want to address my husband's pension. Back in 1988 we dreamt of retiring in our 50's ( I know!) and my husband took out this FSAVC contributing £35.10 a month with £9.90 tax relief. It was originally taken out with tSB (later LLoydsTSB) and is now run by Scottish…
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Pension or not to pension that is the question
I work in a government body and have had a pension with the local council since I started working 6 years ago. Everybody I have spoken to says that my particular pension is one of the better pensions currently available so I have stuck with it. This week, however, I just realised that I really don't understand how pensions…
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Legal & General Fund recommendations
I have just set up an L&G stakeholder pension that I am paying £234 a month into and plan also to pay one-off amounts from my limited company into. I have just transferred a money purchase pension from my former employer into this and will have about 14k in there. I am also considering moving a Money Purchase pension from…
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contracted out query
how do I tell if my company pension is contracted out? as I have a forecast from the The Pension Service that gives me the following figures Pension breakdown 05/04/2006 09/11/2024 estimated basic pension £61.98 £87.30 Payable additional pension £23.04 £61.05 toatal weekly State Pension £85.02 £148.35 If I am not…
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Closed ISA
My wife asked for her ISA to be closed and to be creidited with the fund which she was. After this she kept reciving statement showing the account accuring money. The provider ask her to ingnore this as is would be corrected / closed and this was just a delay. 2 yaers down the line this accural is very resonable what shold…
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Transferring Pension
Hi, I have a Stakeholder Pension but want to move it to another provider. With the new provider would I have to transfer the pension to it first before making any contributions or can I set up another Stakeholder, pay into it and then transfer original pension into it? Hope that makes sense.... Matt
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Full Transfer/Open Market Option Quotation Query
Hi, My OH has just received paperwork from the Pru' for a Full Transfer Quotation and also an Open Market Option Quotation. I have some queries that I hope someone can help with please: 1. Am I correct in thinking that the former is a transfer of the entire pension fund to a new provider (who will then be responsible for…
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Pension Management Charges
I have recently changed my job and my legal and general personal pension plan will come with me.In 6 months time I can take out another pension with my new company that will contribute 6% of my salary plus personal contributions if i so wish. I dont intend at present to top up my L and G plan,the extra money at present…
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Want to Cancel Pension - Help
I have recently started a company pension and then husband got offered a job abroad and I have resigned. I missed the 30day cancelation period by 4 days!!! Can I still cancel within the first year and get my contributions back??? So far I have paidless than £100 in to it and already have 2 other pensions on the…
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Can I cash in an old pension plan?
Hi everyone I must admit to getting quite confused when it comes to pensions, and I've only just got my head round my personal finances in the last six months, so understanding pensions seems a long way away... Anyway, I've just received an annual statement for an Appropriate Pension Plan with Reliance Mutual. I presume…
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Pension calculation
HI, I am trying to work out on my calculator the following. I have been with my present employer now for about 7 years and my basic salary is £18,000. I am trying to work out 1/60th etc. Please can you advise me how I can work that out on a calculator. I have asked Arthur but just shook is head and went back to reading his…
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Ill - health retirement
Due to long-term health problems i'm having to leave my job as a nurse. i've had an nhs pension for nearly 10 years and i have the option of applying for ill health retirment. I'm just wondering if I sucessfully applied for this how I would stand if I returned to work - outside the NHS - in the future. thanks
