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pensions in marriage when one partner does not want to save
I am married and would like to start saving for my future via a pension and other savings, but my husband has no interest in doing so ( He is in his forties). This causes many problems in the future if were to stay together at pensionable age, but from what I understand causes even bigger problems if we divorce. The latter…
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Social security & Lodgers
If an eldery lady of 70 is on social security living in her own home by herself in the UK, is it possible for her to take on a lodger in the spare room? She is worried about this affecting her social security. Forgive my ignorance. I don't even know the difference between Social Security and a State Pension!
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Getting pention from divorce can I take it as it's cash equivelant instead?
I'm coming to the final stages of my divorce now, it's all gone smoothly and without any problems from me ex at all which is good. The only issue I have now is that although I'm entitled to about £3,500 of his pension which is half what we put into it while together (we worked it all out as a percentage of the total that…
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Pension help
Hi all-I have a pension question that I need help with, if that's cool. I'm 33, and have two separate pensions from two previous employers. I obvioulsy can't cash them in, so I was wondering if I could somehow consolidate them into one? (they're with two different companies). Basically, what are my options, if any? I've…
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Questions as retirement looms
I'm 65 in June and intend to retire. I've ended up with three Personal Pensions with a total value of around £70,000. Two via a Financial Advisor, who I'm sure had a cunning plan as to how I could make this pay, but is no longer around to ask. Does any one have any ideas as to how I could turn this to my advantage? There…
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final salary pension 10% member contribution, what's net income from £40k basic?
say £40k basic, no bonus, overtime, car, other benefits if final salary 10% member contribution (1. Final Salary - member contribution 10% of Basic Contractual Pay less the Lower Earnings Limit) less tax, ni, student loan what will be the net monthly income? also taking into account: "Is the final salary scheme contracted…
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The impact of charges
http://business.scotsman.com/personal-finance/Investor-beware-as-fees-can.6069454.jp INVESTORS have been warned to check the charges they pay after new research revealed that hundreds of funds are making more in fees than they provide in returns.Private investors have over £100 billion stuck in 260 funds that have charged…
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Confused over "contracted out" contributions
I am 53 years old. I was advised to contract out of SERPSin 1992 which I did and contracted back in in 2005. I am trying to make some sense of pension projections I have received from the Pension Service as it seems the "additional state pension" projection does not seem to have been adversely affected by contracting out -…
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Pension Speak for the Confused
Hi, could any of you clever people explain something for me in regard to pension information? I left an large (private) organisation back in 2000 after paying into the pension scheme for 7 years and 9 months and entered the public sector, joining the LGPS. I get regular information from the LGPS and understand the…
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NIC rates from Tax Year 1989/1990
I would be very grateful if any of you experts could answer my question below. I have been calculating my Earnings Factor figures using the NIC rates given in 'Movements in NICs' issued by NICO on their website. It had been quite straightforward until I reached Tax Year 1989/90. From the Tax Year 1989/90 the rates suddenly…
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Standard Life 'Here we go again!'
I have (or had) £150k in my Standard Life Pension invested in the UK Opportunities One Fund. I checked the fund value (as I do each morning) to find it had dropped by almost 3% for no apparent reason! The markets have been flat these last couple of days and none of the top 10 holdings had crashed. So why had it dropped by…
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Advice on a pension for my wife
I want to set up a personal pension for my wife, with an initial lump sum of £6k, and then a small regular monthly payment to keep it ticking over but the option to make ad-hoc contributions in from time to time. It would be great to get some advice on this and suggestions for options - thanks in advance.
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Pension or ISA working 16hrs a week??
Hello All, Just need some advice on pensions i have read left right and centre and still confissled :( . I am 23 years old and currently working 16 hours a week. The company i work for they are offering if i put in 4% they will put in 8%. (sounds good)I am a graduate and wondering is it a waste of going into a pension with…
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I'm 37 and want to cash my Railways Pension in,been told Icant any alternative
Hi all I am in major need of funds and have enquired about cashing in my Railways Pension Scheme, I have been told I cant due to not being over 50. They said I could transfer it then sell it at a fraction of the cost. I think there is probs about 6k + i dont know where to start enquiring, there is alsorts on the web and I…
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Contracted back into SERPS too early?
I contracted out of SERPS in the late 80's with RSA and was automatically contracted back in by Phoenix a few years ago as they stated that this would be the best option. By looking into the new SP2 rules in so much that you have to accumulate 30 years of 'SERPS' to receive a full SP2, based upon contributions etc, I…
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Pension. What to do next??
Hi Everyone. Im a regular user of this site bit never posted so im hoping someone can push me in the right direction. At age 18 (39 now) i took out a personal pension and opted out of serps. I had no idea what this meant as work colleagues did it for me! I didnt pay alot in to the pension. I joined a company scheme in 2005…
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What has happened to my pension ??
Hi all, After some general advice really - hopefully I am just being dense and missreading something but I might not be .... In preparation for a pensions meeting (with a new employer) I was looking back over past statements from my ex-employers pension plan. The last two statements I have are for 2009 and 2007 (presumably…
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National Insurance Contributions
Not sure that I am posting these questions on the correct forum, if not I apologise. Q1. I have received a letter from Dept of Work and Pensions advising that so far I have 32 years which count towards my basic State Pension. I need 30 years which count to get a full basic State Pension. I am 51 years of age and will…
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BT Pension Index Linking
With the news that we are for sure in a world that has inflation, I wonder if the likes of BT are going to gives us an index linking rise in 2010. In Sept 2009 when the RPI is looked at of course it was negative - not a real situation due to vat rate changes etc. State Pensions have been given a small rise - Does anyone…
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Lump Sum and reduced pension?
I start receiving my BT pension in May, but am carrying on working (for another employer) four days a week, at least for the next year. BT offer a reduced pension and a lump sum. I have no mortgage and no spouse. The pension will take my earnings into the higher rate tax band. Obviously I've no idea how long I will live -…
