-
Transfer value??? I dont understand all this!
I have just managed to find some paperwork to do with a Group Money Purchase Pension scheme I was in with my old job. I don't know what to do from here. I rang Equitable life and the girl told me that my transfer value is £2,651.93. Does anyone know what I can do with this money? Can I cash it in or anything? Many thanks…
-
Not-trivial-enough pension
I have a pension pot which will be a few hundred pounds over the maximum sum for commutation of trivial pensions. If I can't take it all in a lump sum and have to use 100% or 75% to buy an annuity, I am pretty much certain to get under £750 a year as a pension! And before anybody asks, no I can't afford to add any money at…
-
Pretending to be a smoker
I'm in my 50s, a non-smoker in reasonable health. Come the time when I need to buy an annuity, what is to stop me claiming to be a smoker? I will thus get a larger annuity, because of expected decreased life expectancy? I'm sure other people have tried this :)
-
Trustees and Administrators
I've just received a quote to take my deferred company pension early at 57 . I qualify to take it early according to the criteria on the quote sent by the Administrators. I am happy with the quote figures considering it is for leaving the scheme early at 57. I've sent an decision option form in, bank details etc. with my…
-
Preserved benefit revaluation
I received a pensions estimate about three months ago. Now, after retiring recently at age 60 but while still waiting to receive my first private sector pension payment, I have received a letter informing me that my preserved benefit is being revalued using the HMRC 2010 figure of 31%, down from the 37.1% used when I was…
-
Self Employed / Pension /Tax
Pie in the sky question. Say, at the end of the tax year my accounts are showing £50K profits ( would be nice ) if I stick 100% of this into a personal pension plan would I then still have to make a payment on account of tax for the following year, bearing in mind the following year I would also intend to place 100% of…
-
Equalisation of Pension scheme
HI I have posed something previously on the same lines but I was wondering if anyone could confirm/amend the following table. Basically the pension scheme equalised in 92 and I have trouble understanding what happens to deferred members in the scheme who joined before equalisation date (ED) and left after ED. From previous…
-
widows pension
Will I still recieve my widows pension lump sum when I AM 60 in 6 months time?
-
What to do with my mums state pension?
Hi, My mum just turned the grand old age of 60 and is picking up her state pension but is still working. At the moment the money is just going into her regular current account. She’s asked me what would be best to do with it? Is having it going in to an ISA the best option, or is there some sort of pre-tax thingy can be…
-
2 pension pots - one annuity?
My husband is 55 and has 2 pension pots and wants to take his pension now. Is it better to buy one annuity with the combined pot or should he just have 2 separate ones. Do the costs involved in annuities work out cheaper if you only have one. Looking on the FSA website the combined pot after lump sum withdrawn looks as…
-
I don't understand any of this, can anyone explain? please
Hi, I have received some correspondence from the Prudential about a pension which I have no idea what it is, the letter says, YOU NEED TO MAKE A DECISION ABOUT YOUR CONTRACTED-OUT PENSION WITH PRUDENTIAL. PLEASE DO NOT IGNORE THIS LETTER OR YOU COULD BE WORSE OF IN RETIREMENT. I remember late 80's an insurance man came to…
-
Buy a pension at 38 or overpay mortgage
Hi Having always worked part time whilst looking after 3 children I have not got any sort of pension in place. At 38 I am thinking of investing £50 per month in a pension with the Halifax but Im not sure if I would do better overpaying mortgage instead (rate of 2.7) If anyone has any advice that would be great as I have an…
-
retirement
my dad work as a caretaker for south lanarkshire council. he was told that if he was to retire at 66 instead of 65 he wouldnt have to contribute to his work pension. but he would like to know if he would lose his free rent and council tax in his tied accomodation.
-
Old Friends Provident Company pension
Martins email note about Scottish Widows prompted us to have a quick dig through some old paperwork, and in the process we came across paperwork for an old Arriva/Friends Provident company pension my husband had, that we had forgotten about. It was last paid into in 1999, and the most recent paperwork is from January 2001.…
-
Not sure what to do about pensions??
Hello all, I am 27 years old I live with my partner (who has a good pension scheme) and our 2 children. I currently do not have a pension nor have I ever paid into one :o . Basically work part time hours and within my employment I am classed as casual therefore am not offered a pension scheme. Lately I have been worrying…
-
serps
i contracted out of serps in the early eighties, but after a couple of job moves and a house move I cannot remember who I contracted out to?? How can I trace who holds my serps contribution?
-
Section 32 - move pension or leave with Standard Life
I've got a Section 32 with Standard Life that has a fund value of around £12k. I'm looking at the options of what I can do with it. 1. Sell my funds and move as a cash transfer to my SIPP losing my Section 32 benefits. 2. Leave the funds with Standard Life as a Section 32 pension - annual charge is 0.65%. My preferred…
-
Ltd Company Pension
I am in the process of setting up my own Limited Company for the first time as I am going to take a contract position from later this month. I understand that I can take pension contributions out of my company's gross income so that I don't have to pay any tax or NI on it. My question is, can I put this into a regular SIPP…
-
IFA costs for pension advice
I've had 5 x 90 minute meetings with an independent financial advisor during the last 6 months to review ISAs and organise a personal pension. I have invested in an ISA recommended by him and he has been paid commission. The last meeting I had with him he presented his pension proposal. He recommended Scottish Life and…
-
State pension
My partner is 10 years yonger than me ,does this mean that I will not be able to draw a state pension until he reaches the eligible age?
