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Gap in Pension Contributions - Advice Needed
My wife is 37 and a housewife and has recived a letter from the HMRC that says the following: So far you have 14 years which count towards your basic State Pension. You need 30 years which count to get a full basic State Pension. If you want to you can pay £392.60 to make 2006-07 count as well. But you don't have to pay. A…
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How is pensionable pay calculated.
I am a member of my company's final salary pension scheme and they deduct 5% of my gross pay, after deducting the £3900 NI lower earning limit. I currently earn approx £35000pa however my estimated pensionable earnings for the 2009-2010 tax year is £31100. Is this because of the £3900 disregard and are pensionable earnings…
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Annuity purchase through Cavendish Online
Pease could anybody who has recently purchased an annuity through Cavendish Online in order to get the commission rebated to them please let me know what their experience of Cavendish was, how the procedure worked and how long it took to get the commission and whether they were happy with Cavendish. Many thanks. Saverbunny
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Pension Salary Sacrifice
The firm my husband works for has written to him saying that they are going to have to increase his contribution to his pension. Ashamed to say that we no nothing about his pension. He has worked for this company for 20 years and had it from the beginning. They are suggesting that he might want to opt for a Pension Salary…
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Pension Advice For 21 y/o
Hi everyone, I'm 21 and currently only working part-time. I am looking into setting up a private pension..I hate having to prepare for things so far ahead in time, but the way things are going this seems the bets thing to do. I don't want to pay a lot into it monthly but can anyone reccomend any decent pension plans or…
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DLA - Understated level of Care
I have been in receipt of the higher rate component of Mobility for about 5 months, since submitting the claim forms in October 2008. I recall being over the moon to learn that I had been successful in receiving the Mobility rate at the time. The letter I received from the DM said that I did not qualify for the Care…
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Personal pension - what to do with reduced income
Thanks for reading this. I've already had a look at the various info regarding pensions, and think I know what to do - but would be grateful for some confirmation please before I make a decision I have paid premiums into my personal pension since 2004 when I was 42. Before then I was married and made no contributions other…
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Can I/Should I cash in Pension??
Apologies if this been asked before but I'm new to this!! Im 32, have a Scottish Widows personal pension plan which is currently worth £10'300, Im paying in £100 per month, I'm also contracted out of SERPS (not totally sure what that means TBH) Im very worried about the current financial climate and wonder wether i'd be…
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Which year would my contributions relate to?
Hi All I run a business as a sole trader. My financial year ends 30 April. I rang Hargreaves Lansdowne regarding opening a SIPP. They told me that because my business financial year end from 07/08 fell into this personal tax year 08/09 that any pension payments made before 5th April would be taken off the tax bill relating…
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Annuities and my special circumstances
I have posted a couple of times about pensions, but I suppose this is the ultimate question(s). So I am 52, my wife is 47 and we are both in employment. My current pension pot is today valued at £147000. I have cash reserves above that of my pension pot. I understand from the pensions forecasting service that we will both…
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pension advice
years ago i contracted out of serps, when the government were offering an incentive, but about 6 years ago i contracted back in, but in this pension i have sat £10500. In the last year the value hs dropped, can i transfer this into a sipp or is there something else i can invest it in. Hgreave and Lansdown have wrote to me…
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Wealth plan can you cash it out?
He has 3 policies 1. Flexible Pension Plan - investment fund multiselect pension accumulator 2.-Wealth plan- investment fund managed type i pension accumulator 3. Wealth Plan- investment Managed type I pension capital All are in units Can any of these be cashed in?
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Can I Boost a Very Small Pension Pot?
Today I received my ‘Claim Your State Pension’ letter which focussed my mind on my Pension Pot. (Just like ex-RBS Chief Sir Fred Goodwin ~ but then HIS pot is £10 million). Q - I need to know if/how to maximise my very Small Pension Pot and gain the maximum benefits of any Tax Relief available? I am both a major…
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teachers pension AVC's for 29 year old
I was having a conversation with a colleague the other day who recommended I pay AVC's into my pension fund pot. I've only heard of people doing this closer to retirement age, however, I've been told that any additional voluntary contributions I make will be matched by my employer. Is this correct? I'm a 29 year old,…
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is gift of life time right to live in a house rent free taxable?
My friend is a member of a charitable trust which has been set up to manage a small historic house of literary interest as a museum on the death of the owner. (It has been approved by the Charity Commission). The Trust does not own the house at present, as the owner is still alive at present and the Trust will inherit the…
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pension in another country?
How do I find out the laws about pensions in other countries. My husband used to live in Norway for about 3 1/2years. He was told when he left that he would not be eligble for a pension since it was under 4 years. What I want to know is if they took out money should he be eligible to get it back. This is was Norway.
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Windsor LIfe assurance
My husband has a couple of these policies. We need the money right now and were wondering can you cash these in and if so what is the penalty if we do.
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Paid in under 2years work pension can i reclaim?
Hi, I paid into a scottish widows cont pension through a previous employer for under two years. I thought i could claim back my contributions which amounted to £920. When I contacted SCottish widows they said I also had to claim it back within under two years of starting it (I was a month late). Is this right?? any help…
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Pension Non-protected rights?
Hi all. I'v recently started making monthly contributions into a L & G stakeholder Pension. The pension statemate tells me that I have non-protected rights. What do these non-protected rights mean? Cheers
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Gifts to siblings
My mother is 87 and lives in self contained ajoining granny flat , she wants to gift us some money - Can she do this ? any guidance appreciated . NB is this is the wrong form please advise correct one
