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Making extra NI payments for lost years
My main fear was getting ill again and not getting additional years. My plan is to work full time untill retirement age or 60 am now well From what I could gather my main issue would be if I was to marry a rich bloke and be a lady of leisure with no kids (some hope!) as I would be covered for sickness; unemployment or…
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What shall I do with it???
Hello Ok here goes. I am 39 and female and currently self employed .. I have two pensions, 1...a small one, worked for the council for 4yrs(from local goverment) 2... a Army Pension having served 12yrs. Now they are sitting there doing owt and lately I have been thinking about taking the money out and putting it towards a…
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Final salary pension plan to close - Help!
Help Please!!!! The company I work for had a final salary pension scheme when I joined. They closed it to new entrants about 5 years ago and now I have heard rumours that they will scrap it altogether. How does it work for future pensioners who have already left the company? If I left the company before they close it,…
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Minimum retirement age in 2010
I have a question, if any of you very clever pension people can help me please. I am in a company final salary scheme and expect to be made redundant within the next year to eighteen months. Can you confirm that the most recent Pensions Act effectively forces private schemes to increase the minimum retirement age from 50…
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Pension Sharing - Timing and risks?
My mother and step father are divorcing. They're both in their 70s and as part of the agreed financial settlement, she will be getting approximately 50% of his pension 'pot'. His pension is a personal pension and he's been receiving an annuity for a number of years. The split will be achieved by a Pension Sharing Order.…
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Pension Sharing Order - Options?
My mother and step father are divorcing. They are both in their 70s (she is nearly 71). He has been receiving an annuity for quite a few years, originally funded by a private pension. As part of the settlement, she is getting 50% of the pension 'pot' by way of a Pension Sharing Order. She is intending to purchase an…
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Natwest Lifetime Mortgage
I've just had a circular from Natwest, trying to sell me a "Lifetime Mortgage". This is, of course, simply a loan, at a quoted rate of 7.2% APR, secured on your property. You can draw down in a variety of ways, ditto repay the interest. It would appear that you cannot repay the principle, just the interest due. This may be…
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Hargreaves Lansdowne - Financial advisers
Basically we are in a bit of a mess with our finances. We were badly misled by an IFA some 15 years back and so since then have muddled through on our own, not really planning. As we approach retirement we want some good advice. Ive had a letter from HL saying that there financial advisers can visit us and sort out our…
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Transfer Value Guarantee Query
I have recently joined the NHS after 10 years in local Government. I will be transferring my local government pension to the NHS scheme as this will be one for one. I also have a deferred pension with J Sainsbury and have an option to transfer this. I have received the transfer value quote from JS Pensions with a covering…
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Cancelling a pension
I have a pension from years ago with Friends Provident that I no longer pay into. It now has about £500 in it which would really help me out at the mo. Unfortunately they will not let me withdraw it. I can transfer it though so would like to see if I could do this with another provider that will let me take it out early.…
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Early Pension Dilema
Can any one help please? My friend has recently taken an early retirement package (age 53) from a big national (formerly government) company but the terms don't seem to be very generous and he is trying to work out whether to take a reduced pension & lump sum now or defer until age 60. The reduction is about 27%. He can…
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Transfer Standard Life Stakeholder Pension to Scottish Widows Group Personal Pension?
Hi I have a Standard Life Stakeholder Pension worth about £9K that I have been paying into and my employer has been matching my contributions. My employer has now been taken over. The new employer will also match my contributions but requires me to open a Scottish Windows Group Personal Pension, which I will do. My…
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Early Retirement
I will be 59 in January, and in part time employment which is quite physically demanding, and being only 5'2" and 8st I am now finding it very hard work. At the moment I am suffering from an intermittent back problem. Because of the nature of my work I work some full time hours, as I am at the moment and some part time and…
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Pension or pay off Mortgage?
Hi, Can anyone give me some basic advice on how to prioritise my finances? I am mid 40s, self-employed, earn a good amount (£60,000). BUT over the last few years, i have been very disorganised with money, had huge credit cards debts etc. (The more you earn the more debt you can get!) In the last few months I have started…
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Pensions for dummies...
Hi Folks, I've just depressed myself with the retirement age calculator, at the moment under current rules I'll be able to claim a state pension when I'm 68. As I've just turned 27, the thought of working for another 41 years isn't appealing. I currently a member of a LGPS so I'm aware that I might be able to retire…
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Question About State Pension
Do people on state pension get housing and council tax benefits.
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Help with Investment retirement in 4 years.
Hi Folks, Just a quick one, which I would like a bit of feedback, please. I am due to retire in 4 years, I have a Council pension (Final Salary), which I was in for 27years; which is frozen until I retire in 2012. Also I have my pension now, which I have been paying into for 7years my employer pays 3% of my salary into…
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Can they take back pension overpayments?
My Dad was receiving state pension, his own work pension and a pension from my Mum's work. My Mum died in 1990 and he has been receiving her work pension ever since. I called the trustees of Mum's work pension scheme to advise that my Dad has passed away 11.8.08. It turns out that instead of receiving a widower (spouses)…
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Can they stop my pension if I find work?
Hi I know someone who was pensioned off from their last place of work after a long spell on sick with ankylosing spondylitis (back problem). Since he finished working there, he's since had treatment for his back problem, and feels can start looking for light work again. His back problem is better but will never be…
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Did I choose too many funds?
I just started a new job last week. The booklets from Standard Life stated that up to 12 pension funds could be chosen. However the company's form stated only up 6. I queried this and after some curfuffle it was determined that the form was a streamlined option but they did forward me the following message from their IFA…
