-
Advice re: putting lump sum into pension scheme please
Hi, I have a question about putting a lump sum into a pension scheme. My situation: - I am 52 and expect to stop full time work at 55. My salary is £30k and I have just started receiving a pension of £15k which pushes me into the 40% tax bracket. When I stop work at 55 £15k won't be enough for me and the wife to live on so…
-
Pension/savings/investment retirement planning tool
Hi all As part of my sudden addiction to planning my financial future, I would love to find a good tool which will let me make a long-term plan to see what the probable outcome will be of my actions now and in the future. I don't just mean a simple pension calculator, which I can find online. I really want something where…
-
Property SIPP
I am looking to buy a house to use as for holiday lets only. Cost about £200K. Wanting to know a) would purchase be allowable under property SIPP and b) who provides the most cost effective SIPP for this level of investment?
-
Understanding the basics....
I don't have much understanding of how pensions work... I have been working full time for nearly 4 years now (I am 22) and have decided that its about time I started putting funds into a pension. When I made the decision it was before the markets crashed, and now I am in two minds whether its a good time to invest or not.…
-
cash in pension to overpay mortgage
hiya, I worked in Ireland a few years ago and I now have an offer to cash in my pension. It comes to about 1500. I was thinking of overpaying my mortgage, which I reckon will save me about £100 per year in interest.I was wondering if this is a good idea. Many thanks for any advice. yogi
-
2 buy or not 2 buy
hello all. like most young people i still do not have a pension set up:mad:, and the recent credit crunch is making me think perhaps now is a good time to put a lump sum into a fund ~5k.:eek: i presently have a ltd company and would like to set up a private pension through it for tax allowances. because the way shares are…
-
Avc & 1987
I have recently been in contact with my company pension, I joined their AVC scheme in November 1986 and should therefore have the benefits pre 1987. They are now informing me that all legislation about the 1987 date has been suprceded by the recent "A Day" pension legislation. Is anybody able to confirm that this is…
-
Multiple Annuities
Greetings, I have three pensions that I am ready to draw, Could i take the tax free cash from all three and also three seperate annuities, or do I have to transfer to one pot? I only ask this because of the uncertanty in the money markets at the moment. Secondly Is Canada Life protected in the UK by the FSA the same as our…
-
my pension frozen - company sold out
hi there im 55 been at the same company for 30 yrs and in a company pension for 29yrs with contributions of £20per week for the 29 yrs. the company also add to the payment each week the company has been sold out and new company are not doing any pension schemes. so in the first instance we have been told it ( the pension )…
-
Help section 32 buyout - wont let me take cash
Hi, turned 50 last month, lost job, have 3 children, am utterley (butterly!) skint. Have three pensions from companies I worked for years ago and want to taketax free cash lump sums. These are as follows:- 1. MMC pension. FUnd value approx £10,000. have offered me £2,700 cash with pension of approx £30 a month. 2. HSBC…
-
Help with my pension illustration
Hi guys, Can you please tell me if I have to start worrying and look at other ways of saving for retirement? I am 37 years old and contributing £300 p/m in my company's Global Equity Index fund operated by Legal & General. My projection shows a £7,560 p/a pension (today’s money) at retirement age. The return net rate for…
-
Pension Pot
Hi can anyone please tell me how much after i have taken my 25% lump sum the remaining pot of my pension will pay?? Is there a formula used to work this out i am expecting my total pot to be about 250k.:j Thanks
-
Help with my pension illustration
Hi guys, Can you please tell me if I have to start worrying and look at other ways of saving for retirement? I am 37 years old and contributing £300 p/m in my company's Global Equity Index fund operated by Legal & General. My projection shows a £7,560 p/a pension (today’s money) at retirement age. The return net rate for…
-
New effort to boost women's state pension
http://business.scotsman.com/personal-finance/Jeff-Salway-Lord39s-to-consider.4605639.jp Lords Bill would allow women retiring before 2010 to buy more back years.
-
Pension Advice needed, SERPS
Hi I think I posted this in the wrong place initially, so here goes again :o My husband opted out of SERPS? when he was about 18, he's 36 now. He doesnt really understand why he did it, he was just told it was a good thing to do at the time. The SERPS? payments are going to a company called Windsor Life and the last…
-
25% from pension pot – to take or not to take?
I’ve decided to take my pension, as the pot is starting to diminish even though it is invested in a money fund. However, I’m not clear about the 25% tax-free cash which is offered when you take a pension. (a) How is it tax-free? As soon as you invest it, you are taxed on the interest. (b) I know that the received wisdom is…
-
Tax and State Pension
My husband has been told his state pension which he will collect in December will be £200 per week. Does he get the full amount or will he have to pay tax on this amount as it will be over the £9,000 odd personal allowance?
-
Should I top up my pension and/or start a new one?
nnnnnnnnnn
-
Options question and lifestyle fund
Some advise needed. Hi all, I help some help as my employer is trying to force me in to a lifestyle tracked pension. This type is based on your age and at a young age it put your funds in to high risk options and slowly reduces them as you get closer to retirement age. At first I thought it was tracked against the market…
-
Can I take lump sum if emigrating
Hi all, we are in the process of emigrating to Canada, hopefully just after Christmas. I have been working with a car factory for nearly 20 years and have been wondering if there is anyway I could take a lump some out of company pension and put it into a new one over in Canada, or will it be frozen until I'm 65. If it is…
