We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Pensions, annuities & retirement planning

Archives for October 2007

The Armed Forces Pension and AVCs
I have come accross these AVCs when reading through some Armed Forces Pensions Scheme stuff and am interested in boosting my pension benifits. I have been looking for advice on which type to pay or whether to pay them at all but have just coming accross lots of clueless admin people. I would speak to an IFA but am not sure…
Dear Ed Investor
Take up a new hobby please. I've only been reading this forum a week or so but your there in oh so many threads talking rubbish. Do the members a real favour and take up knitting or something.
Pay into pension or pay off debt?
Hiya, Im looking for some advice as Im very clueless when it comes to pensions! I am 28, and have been paying into my USS final salary pension for about 4 years. Im due to start my PhD in March and so wont be making any more payments for a few years. In the meantime would I be better off cancelling the pension and putting…
25% Tax Free Lump Sum and Still Work
Hello I'm considering surrendering my endowment policy to pay off credit card debts. If I do that I will need to "find" £15000 to pay off the balance of my part endowment/part repayment mortgage in 2017. I can take 25% of my personal pension tax free from age 55 (in 2015) and that would more than adequately cover the…
Actuarial Reductions.
What exactly do they do with these ? If the rate is say 5% per year is that 25% if you retire 5 years early ? Or 5% on a reducing basis per year backwards from your normal retirement age ?
Stakeholder pension
Anyone got a stakeholder pension, who with and are you happy with it? and how would this compare to a personal pension.
S2P - opt in? or out?
Hi, Just wondering if anyone can give me some advice. I am joining my work stakeholder pension scheme and I need to decide weather to opt in or opt out of the State 2nd pension. If I opt out I get money back which goes into my work pension and then does that mean I don't get a state pension when I retire because I have…
Suspended State Pension Forecasts
Have just read that the Dept of Work & Pensions are suspending the issue of all state pension forecasts for anyone who will reach pension age after April 5, 2010. This will apply to women born after April 5 1950 and men born after April 1945. Apparently this suspension will continue until Autumn 2008 and is to allow them…
Switching Pension Funds
I am currently reviewing the investment mix within my pension funds, one with HSBC (SERPS opt out) and one with Blackrock (AVC) with retirement planned 2-3 years hence. Both have performed pretty well over the years but I now feel its time to de-risk. My dilemma is when I examine their respective low/minimal risk funds the…
National Insurance Contributions Shortfall - To pay or not to pay?
Hi, I recently received a letter saying I had a shortfall of ~£200 for my national insurance contributions for the tax year 2005-2006. I have no complaints with that figure (I was in uni), however when I rang the NI office to ask if there were any other years, it turned out I was also short the year before (again in uni),…
Pension withdrawal
Hi Guys, I am 68yrs old(young) with a good income this is suplimented with 3 additional pensions.Even so I have need of some ready cash to see my son through Uni.My company pension stands at 11k.Can anyone tell me if I am able to draw all of this.Iam lead to believe that if a pension is below 16k then it is quite legal to…
Company Pension
Hi Guys, I am 68yrs(young) with a good job which is suplimented by three other pensions.However I am still in need of some ready cash to see my son through Uni.My company pension stands at 11k.Can I draw this as cash?I am lead to believe that if it is <16k then it is permisable. Standing by Taff G
Winter fuel Allowance
I have heard that winter fuel allowances are given to those who are over 60yrs at some point during the third week of September. Whilst they are paid automatically to women who are entitled to their OAPension, men who are not entitled to their pension until they are 65 can still get the winter fuel allowance. BUT Men…
Retiring Soon Do I Stay In Scheme or Tranfer Out
Hi everyone, Your help and advice would be appreciated I’m sorry if this as already been covered I have tried searching the forum but no joy. I am retiring soon at 55 on quite a good annual NHS pension of £18000 with a lump sum of £55000, but my financial advisor is asking me to consider transferring the total fund of…
Pension Query
Hi i left the UK in Nov 2005, and stopped contributions in May 2006, who do i contact in order to back pay the missed contributions.. Thanks And No,i don't ever intend to reside in the UK again.
Yet another pension query ...
Hi I've tried finding an answer to my query in the forums but mine is such a simple question I doubt anyone has had to ask it before. I apologise in advance for my ignorance around personal pensions (or any other pensions for that matter). I have a very small personal pension with Legal & General, currently worth about…
Quick and simple pension questions.....
Can you use a PR funded PPP as part of Drawdown from age 55 once the 25% tax free lump sum element has been taken? The plan is that it would be combined with another PPP for the Drawdown. What is the maximum allowed to be taken in Drawdown, is it the 'GAD' rate? Edit.... sorry I posted in the worng section!
Retirement income
As all newbie posts start the same way, I'll apologise if this is in the wrong place or if it has already been asked. Can I request that someone points me in the right direction of the answer if the above is correct.... A case study question really. Mum and dad own their house (£300k) outright, they also own another house…
Cutting out IFAs on pension contributions.
At the risk of upsetting any IFAs here, Is it possible to increase my pension policy contribution to an existing scheme without involving an IFA? I already have the policy, I just want to increase my contribution I don’t see why I should be forced to pay commission for advice when I neither need it, nor want it. Recently…
Pension query, can I cash it in?
Hi All... I'm about to switch to a new job. I'm currently 28 and with a Private Company, and moving to a Local Authority. I have a pension here, not sure how much it's worth exactly but I think me and the company have been paying about £1500 a year into it for about 3 years. I have about £3000 of debt at the moment, mostly…

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

View All

Pensions, annuities & retirement planning

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

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

Pensions, annuities & retirement planning

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Is this how you want to be seen?

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