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When to take my pension
Hi My wife is 60 and I'm 61. We run our own business which we are thinking of closing next year. My wife has a personal pension with Virgin and I have one with Standard Life. When we retire next year if we close the business should we both keep paying into our personal pensions until we are 65 or would the better bet be to…
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serps advice
Hi - grateful for some advice I am 47 and have been contracted out (with Scot Wid) from early on. I have been in a final salary scheme (same company) since 1989, but this has recently closed and I am now in the company DC scheme with Std Life I know I am at (just past) the point where I should contract back in, and have…
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QROPS pensions transfer
I have been discussing with an international pensions advisor who has asked me to think about transferring my uk pension into a QROPS scheme. I am an expat and the scheme is my old final salary scheme from the UK. The advice is based on the fact that a) the final salary scheme may not be available for transfer to my wife…
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Advice on mums pension
Hi all My mum has recently being diagnosed with a terminal illness and turned 60 on 4th Septmeber 2010. She, myself and my brother are concerned what will happen to her pension. She has a pension with scottish life that is a SERPS(?). She paid in almost 40K and took a 25%, tax free, lump sum of about £10K in may this year…
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Is it worth it?
I am due to receive my state pension in January 2011 and I have just received notification of possible commencement should I wish to draw this on the due date. Is it worth deferring the pension for one year or not and what are the benefits or pitfalls?
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Advice needed - overpay mortgage or buy teachers past added years.
I am 58 and I am buying back just over 4 past added years - I will be doing this for another 6 years - I pay £3600 a year in contributions(tax deductible) over and above my normal pension payments into the teachers scheme. I have a 125000 mortgage for the next 9 years at £1230 per month some of which is at 6.99 per cent-…
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MSE News: Thousands forgoing pay rises due to pension apathy
This is the discussion thread for the following MSE News Story: "Many do not take up free cash by starting a company pension where their employer makes an automatic contribution ..." Read the full story: Thousands forgoing pay rises due to pension apathy
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Pension Transfer after redundancy
Hi All I am currently unemployed and had been paying into my company's (money purchase) pension scheme for 17/18 months. As it is less than 2 years I have to either accept a refund of my contributions only (less tax) or find some where to transfer it to (approx £6k), within six months, from one month ago. I have another…
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pension lump sum
i am due to retire in Jan 11. I have three small work pensions all offering a lump sum. Can i take all three or is there a limit about how much tax free cash i can take? should i amalgamate all three pensions together instead of getting three small amounts each week? cheers
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Should I transfer pension?
Hello, I am not the greatest at understand pensions. I have tried honest! I am 28. I have recently joined a job where it is a Local Government Pension by LPFA. They have written to me asking if I would like to transfer the value of my previous Civil Service Pension. My Civil Service Pension fund was running for 4 years and…
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Pension advice needed
Hi, First time poster here so I hope this is okay. I'm 27 years old and, since starting work with my current employer 4 years ago, I don't have a pension. I paid into one at my previous employer for 3 years, then left there when the office closed down. I don't want to pay into the work pension plan as it was frozen last…
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Do protective property trusts (PPT)work?
My ageing in-laws have been approached by a firm offering a PPT to avoid their home being sold to fund care. This sounds like a scam to me. Does anyone have any knowledge of them? Pete McD
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what's the worst that the taxman can do?
I am self employed (construction) and I have an outstanding tax bill due to not being able to secure employment since my last contract ended in November 2008. Nor indeed have I been able to receive any benefits. The net result is that we have had to rely on a single income which covers the mortgage and key household…
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some advice on pensions being taxed please
if any one could help i would appreciate it. in july i had a tax demand from the tax office saying i owe tax on a pension i have, from 2005 , about £2000!! im self employed and give all my stuff to my accountant to deal with (who should have spotted this error) and also on the pensions letter from my pension company its…
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MSE News: 1.5 million fail to claim £3,000 a year pension credit
This is the discussion thread for the following MSE News Story: "Eligible over 60s who don't take up the cash are missing out on an average £56 a week ..." Read the full story: 1.5 million fail to claim £3,000 a year pension credit
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Is mum entitled to any pension
Hi My mum is 70 and dad doesn't retire until next year but is she entitled to any amount of pension yet? She only ever worked a few hours a week cleaning (and of course looking after us children) but never paid an insurance stamp.
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pension option advice
I have shortly to make a decision regarding which pension option to choose. Option 1 - £15,000 per annum and a tax free lump sum of £45,000 Option 2 - a pension £12,800 and a tax free lump sum of £85,000 I have some savings in an investment portfolio, along with some isas. I would really appreciate some help required on…
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Tax code & pension
Can anyone tell me if this is correct please. I have received a PAYE coding notice to say that my tax code is changing from 647l to 709l because I have advised them that i contribute 616 towards a pension annuity. I work part time and my employer does not provide a pension so I set one up myself with NFU for just over £50…
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GPP contribution question
Hello Some of the regulars posters in this section may remember that I post a question about my company GPP and my contributions not being paid. Well its now September and the last payment into my policy was April despite the fact that they have taken money via salary sacrifice each month. I don’t know where to turn now, I…
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Company pension question
Hi I recently joined my companies pension scheme where they match your contributions by 15% (i pay in the max £140 per month) and was wondering, the money tht builds up over the yrs do you earn interest on this apart from the 15%, if you dont it would be a pretty bad deal and id be better off investing it myself. The…
