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Tax on pension
Can someone please advise me on the following. If a married couple have a combined income of £20,000 per year after retirement i e split between them at £10,000 each. I believe they won't pay much income tax as the allowance for each of them is about £10,000 per year. How does this compare with a couple where the man has a…
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new to pensions..age 21
Hi, I'm 21 and just graduated this year about to start my first full time job and I am being advised to start thinking about my pension as I know the earlier you start the better!! My employer does not offer a pension scheme and so I have no idea where to begin to start investigating how to save! Can anyone offer me any…
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Company Pensions Scheme - Winding Up
How long is an acceptable period of time to wait for your benefits after a company has wound up their pension scheme. My DH has now been waiting 10 years!!!! Back in January 05 we received a letter to say how much his benefits were but nothing since. We keep ringing to chase the last time being in Feb this year only to be…
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Help for a pension newbie!
Hi guys :wave: I've new to pensions and want confirmation of what I propse to do is the best idea! Currently earn £19k and this should go up to ~£24k in Sept 09. At this stage, I'm thinking of signing up to my works pension scheme. Couple of details: Age: 20 My contribution: 5.5% Company contribution: 11% Final salary…
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Is there any way I can get my pension funds NOW?
I had a pension scheme with my old job I left 6 years ago, but haven't made another one because I simply can't afford it. The thing is I'm really broke at the moment struggling to pay my mortgage and could really do with that money now in case I lose my home, so would I ever be able to get my money back under these…
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Can I put these pensions into a SIPP?
Hi All, I currently have two pensions which I am sinking of transferring into a SIPP in order to have better control of them. One pension is from when I was working for a company but not allowed into its pension scheme so I took out a private pension with the Equitable, now HBOS, and wonder if I can set up a SIPPs accounts…
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Pension Fund Size Age 30
Hi, I am trying to establish what a reasonable size of accrued pension fund would be for a 30 year old male. The reason I am asking, is a) to compare my actual situation to something b) I want to ensure that I am putting enough away Would rather correct any issue at my age rather than forget about it until I am 50... many…
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Suitable funds in Drawdown?
Hi Folks, I have a problem that possibly faces many as they get older. This year I will be starting to draw on my Sipp, probably phased drawdown and just taking the cash of about "10,000 p.a.- possibly £12-15 max? I have a good State pension of just over £14,000 and my wifes (also 68) State pension is £7,204 and we have…
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Moving to a Sipp from final /career average
I work for quite a major company which last April changed their final salry scheme to a career average salary scheme. I will be leaving the business at the end of June and then leaving the country to move to Australia. I have enquired about keeping the money in the scheme and have been told that my benefits will only…
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Pension - is it really worth it?
Hi all, Im self-employed and currently pay £30 a month into a private pension. Now I know full well that this is nowhere near enough a month to pay in but the trouble is I can't really afford much more as I have other priorities like my VAT and tax to cover whenever clients pay me (eventually). Therefore Im wondering…
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Retirement options advice
Hi all, Just wondering if anyone could perhaps help with advice on my current retirement situation. I'm 65 and currently semi-retired but in the process of going fully retired because after so many years working, I'd like to now relax and enjoy life. Now in order to retire the only way to get some capital to pay off the…
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Payments into scheme.
A quick bit of info please, how quickly does an employer have to pay pension deductions into the group company scheme run by an insurance company ? Previous payments have been credited on the day due but April's are just being done now.
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Final Salary Pension against more take home
Hi Guys I work for a main high street bank and one of the main reason I stay with them is because they offer FSP. My current take home in cash is 20200 however if I stop with my FSP it would take it up to 25500. I am currently thinking is it worth leaving this company but I doubt I'll find another company offering such a…
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Ever heard about being/been undercontributed in one's occupational pension scheme?
Calling to: - all employees contributing into a company pension scheme provided by their employer (also known as occupational pension scheme). Have you ever noticed being undercontributed by your company? (Might be worth checking if you have never paid too much attention to the matter) - all employees administering pension…
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Dividing Pension
My ex husband and I divorced a couple of years ago, after 2 year split, we had already divided the monies through a legal document from a solicitor. My question is this: He has now said he feels bad as I don't have a pension as he always told me I didn't need one. So he wants to divide his pension, giving half to me. I…
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Pension For My Wife
Hi, We are a couple, I'm 48 and Hannah is 30. I would like to set up a pension fund for Hannah as I am worried about her future should I (when I) go. I have a small pension to look forward to but need to invest for my wife's future. We can afford to invest about £500 to £600 per month so I would be grateful for any…
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NHS pension???
Hi....is this scheme a "final salary" type?.....does this also apply for Dentists & Doctors? thanks ian
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Self Employed - Retirement Benefits
Help wanted please regarding self employed ....... I'm self employed, higher rate taxpayer due to retire next few months and have one employee (wife) as secretary - on £9,000pa. and wanting to maximise our benefits Would it be beneficial, tax efficient and legal for me, as employer to make a payment into my wife's personal…
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No Tax Relief on Contributions above £3,600 per Year
Don't know if this has been discussed already. I have not found it on a search. According to the HMRC website there was a change in April 2006 that meant any member contributions above £3,600 per year paid into a pension fund would now not be entitled to tax relief anymore. http://www.hmrc.gov.uk/rates/pensions.htm I…
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Switching pension plan - where can I read up on asset allocation?
I currently have a Standard Life Group Stakeholder pension. Contributions made by myself and my employer. I am unhappy about the small choice of funds and have the option to move to the Standard Life Group Flexible Retirement Plan. I'm 29 and have been contributing for 2 years. The Standard Life "opportunity" portfolio…
