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Changing my contribution amount in my company Pension Scheme
Hi everyone. Our company recently dropped our non contributory scheme and advised us that we would now need to make contributions of which they would match. I've just paid the first month and the amount going in from my salary (5%) is unafforable. I've asked to reduce this to 1% but I've been advised that I can only do…
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Cashing in pension any tips for asking company to exercise discretion?
I’m going to write to my pension plan holder asking them to exercise discretion and let me take the cash back out that I put in for just over 2 years at my last company. They formally give 2 options - keep or transfer but I could really do with the cash so it's not the principle I need help with but reasons to hopefully…
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Should we opt back into our LGPS???
OK please don't shoot me down. Me and our lass both work in education and opted out of the local government pension schemes when we joined. We took this decision as the extra cash was needed and welcomed at the time. We are now at a stage (both 28) where i feel we should start back into this scheme and everyone tells me…
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Final salary pension
I am about to start a new job with a company which still offer a final salary pension scheme. The options are as follows, 3% salary = 1/75ths pension 5% salary = 1/60ths pension 9% salary = 1/50ths pension I have opted to pay 5 %. I am 31 years old and have had a pension since I was 18. Is this pension scheme much better…
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Tax Return oap
Hi My mother is 71 yrs old and has received a self assessment from HM revenue. Does she need to to this: She receives state pension £118 per week and then private pension £52.90 per month, she has 49 k in savings. The accountant wants £150 to do this for her, does she need to do this what happens if she doesnt? I have…
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Standard Life Fund Selection
Hi! I`m looking to choose a relatively high risk fund selection for my pension. I`m 31. I contribute 10% and so does my employer. I've read a little and made a selection. Worried that a little knowledge may be dangerous :) I'd be hugely grateful for any comments on my selection; understandingly not advice - but perhaps…
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pensions- can he opt back in?
Hi there a number of years ago my husband allowed himself to be talked into opting out of SERPS. At this time he was employed by a company but after 18 months he was made redundant and no payments have been made since. Since this he has burried his head in the sand and doen nothing. I am constantly on at him to set up a…
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New job & pension scheme
I have started a new job today and am just going through all the necessary forms. One form included is about the company pension scheme and asking if I am interested. It's £20 minimum payment per month. I don't really understand pensions and haven't really thought about them before now (i'm 24). What would this involve?…
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Stakeholder Protection Fund
Hello everyone. ive had my statement for this year and ive lost out bigtime £1,124.62 investment losses since 1st may 2008, this is my third year in the standard life stakeholder scheme looking at the funds available the stakeholder protection fund has done ok 2 years on the trot should i get into it maybe cheers…
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Company pension
I've been at my company for a year and whilst finishing paying off some debt and student loand deductions I opted out of joining the company pension fund. My student loan deductions have now finished and thus I was going to now join the fund but I have just received a letter stating that having had an audit review I can…
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Is there a minimum term for a sipp or stakeholder pension
I will shortly receive a large redundancy payout and then intend to retire. Can I open up a new SIPP (or Stakeholder) account, pay in the whole amount and then immediately convert it into an annuity (or Drawdown)?
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Lifetime Alowance
Can anyone tell me what this is? I recently tried to cash in a pension plan to help toward my mortgage deposit. But was told that I can only have 25% of the fund as it exceeds my lifetime allowance!!! Are there calculations for this?
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pension
Hi i have a pension with the Pearl Insurrance,and due to ill health,i was going to take it on my 50th birthday,which is next week,but according to the Pearl,i have not enough in the pension,to pay me a monthly pension,they say,i can transfer my money,under section 32,to another pension provider,and can take money out this…
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Pension advice for F-i-L nearing retirement
Situation: Father-in-law going to retire in 3 years time. Currently has a generous final salary scheme (although likely to modified/closed before he reaches retirement age sadly). Marginal rate tax payer of 40% for first time in his life Has recent inherited money c.£25k Makes full use of his ISAs Very cautious with money…
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guaranted pension can i sell it
hi, I have a pension that in ten years (when I reach 60) when it matures guarantees me approx £100 a month. I would like to cash in my pension now, but have been told that because it is a guarantted amount I cannot take a drawdown. The current value of the pension is £14,000 I understand it is a good payout per month, but…
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Pension Equalisation
I am in the lucky position of gaining half my ex's pension. I could keep my half with his pension provider or I could transfer it out. I had a thought today about whether I could transfer the money into my own pension but as it's a final salary I'm guessing not. However, my pension does accept AVC payments and I'm…
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Take pension now or leave it til retirement date
I am asking this question for a friend and wording the question as though he is writing it. About 6 years ago our company was taken over when we were on a FSS pension, anyone over 50 was given the opportunity to take their pension abated at 5%. Everyone then had to join the company CARE pension scheme, and the FSS pensions…
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Statement and understanding its workings
Hello again. ive been looking at my statements and im confused again my 2007 statement has investment gains since 21 oct 2006 but my 2008 statement has investment losses since 1 oct 2007 my gains were £40.66 all funds £2,188.91 for 2006 my losses were £721.68 all funds £3,853.03 for 2007 standard life charge me 0.63% a…
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moving pension
My ex employer has offered me the option of leaving the company pension scheme ( with a small cash incentive). They are winding down and will no longer be in business from Dec '09. I was with them for 15 years so have a bit invested in their pension. Unfortunatley I have missed the deadline to transfer to my new employer…
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Standard Life PPOne Changing Funds
Hi, I am 34 and have a standard life personal pension "one". I have suffered similar losses over the past year, but pot has increased about 15-20% in last 2 weeks. Fund is only worth about £13,000 and is invested as follows: 50% in Pension Managed One Fund 25% in Pension Cautious Managed One Fund 25% in Pension with…
