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Retiring at 50 or 55
I understand that legislation will be introduced next April that will raise the minimum age for retirement from 50 to 55. I'm 50 in March and am considering retiring early. If I decide to work on until I'm 55 is there a risk that the government will raise the minimum age again - ie. in the years before I reach 55 ? Thanks…
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Opt back into serps.
I have been paying into a pension for nearly 25 years, and have just received notice from my pension company ( Prudential ) that it may be prudent to opt back into serps. When i rang them and after 1/2 hour of finacial spiel i was still non the wiser, as the general gist seemed to be in the end it was " my choice ". Now…
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Pension terminology - Help needed !
Hi, I'm in the middle of a pension transfer and have been asked to provide the following: 1. Non-protected rights transfer value 2. Protected rights transfer value pre-6 April 1997 3. Protected rights transfer value post-5 April 1997 My old pension company has given me the following information: a. GMP Protected Rights…
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Are A.V.C's value for money?
I had a illustration of what my A.V.C was worth last year:the value of the account was £40 thousand and the estimated pension this year is likely to be £1,600 a year.My question is -are A.V.C's value for money?
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Pension for 17 year old?
Well i no state pensions arent good enough for you to live on comfortably (i think) so could i start a pension up now, even just putting £10 a month in? Or would it be better just to out the money in a saving's account?
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Help ...Clueless!
Hi All! I have just turned 60 and not sure what to do about my state pension. I will continue working after a months break at 30 hours a week and recieving apx 1500. a month after tax. I will also get my work pension of £400. monthly after tax. I have recieved a tax free lump sum also. My problem is that I am in the…
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Is it worth me getting a pension?
I was looking at my work's pension scheme and it looks like whatever I put in my employer will put in as well into a pension. But I don't earn any interest on that money. I think that's how it works. So if I put £100 in a month, my employer puts £100 as well so a return of £200 to be withdrawn in about 40 years time. But…
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DLA deduction from Injury Pension
Further to my post below... The local pensions office are withholding my police Injury Award as "they do not know" if Disability Living Allowance is deducted or not. One of the many problems with my pension!! I have to go to the their office on Monday to tell them it does not get deducted. I have checked the legislation on…
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End of tether - Police pension
I have been retired from the constabulary for almost 6 months, but have yet to receive my full monthly pension. I received my lump sum after several complaints to the local pension office, but these delays in paying my monthly sum are making me ill. I have made numerous calls to the pension office following written…
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5% will charge
my relative has just died leaving a will made out with The Midland Bank as executor,s and am shocked too discover they take 5% of the estate as fee,s for the service I was told by my solicitor today :confused:
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Can I withdraw from PP or SIPP in emergency?
Hi everyone, First post so thanks to everyone who has provided such valuable information. I am 25 and was wondering the rules for a PP and SIPP in the UK. If I start to contribute to these, can I cancel (withdraw) my funds in 10 or 20 years in an emergency? In America, for example, this is possible but you obviously are…
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moving pension
my firm has just been sold and te new firm use a different pension providor so we will all be moving our pension over to them,aviva....i tink after this years dismal showing on the markets i will have approx 10-11k in my pension pot and annual contributions are approx 2.5k. now having had a look at the aviva infomation i…
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Should I up my pension contributions ?
Seeing as my fund value has decreased due to current climate, and share prices being so low, question is, should I for the short term increase my contributions ? Currently my contribution is £242 PCM (so £300 odd when tax gets added back on as I am self employed). I won't be retiring for about 30 odd years, so this is a…
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Lost Pension Details
I have lost records of Private Pension Schemes I was in over the many years. I guess when youre younger its something you dont worry about until you get older; I am now at that point. I think someone suggested you could ring Department of Work And Pension and quote your NI number and by law the Private Pension Companies…
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FSAVC vs Mortgage Overpayment
I'm hoping someone maybe able to say if this is a good or bad idea. I get really confused about pension stuff. Currently I'm in the old style final salary NHS scheme and will have a full 40 years by the time I retire at 60. I've recently opted to buy 3 added years in order to achieve this. So I'm assuming unless things…
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Higher Rate Tax Payer - How to reclaim ?
As a hgher rate tax payer I am aware that I should be able to reclaim the higher rate tax on my pension contributions. However, I am not sure how to go about recovering the tax. Would I simply need to contact HMRC or complete a tax return? Also, as this has gone on for several years, am I able to recover prior year's tax?…
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Lump sum 25% of what?
Many years ago I was a member of my then companys retirement scheme and had set a date of 63 to retire. Well I am almost there and they have written and told me that the only option I have is to take it all as a lump sum, we are talking about 18K here. I have other pension schemes that will not pay out till I am 65,…
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Final Salary Pension
Hi, I've accepted a job that comes with a final salary pension. I have always missed out on these in my working life and so don't really know anything about them, apart from the basics. My current pension (SIPP) was accumulated from various Money Purchase pensions and is currently standing at the £80k mark. I have over 25…
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Contribution level
Hi, I'm currently 20 and am contributing 7% of my basic salary to my pension, along with the 5% contributed by my employer - making a total contribution of 12%. Is this a good contribution level for somebody my age, taking into account that I potentially have 48-50 years before I can think about retiring? Thanks, Marc
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Married Couple Allowance
Could someone please expalain the rules on State Pension. I was under the impression, based on comments here, that there was no such think these days such as Married Couples Allowance. Yet the Pension Advisory Service states the following. http://www.pensionsadvisoryservice.org.uk/state_pensions/rates/ The full BSP from 6…
