Pensions, annuities & retirement planning

Archives for November 2010

Company pension presentation
My company is giving a presentation tomorrow on their new scheme for those who have not been in their previous Final Salary scheme, which has been closed. I need to know what questions I should be asking for both my and others benefit. I'm suprised I can't find any information on MSE and I've also trawled this forum but to…
Is Income Drawdown likely to become more popular?
I was aiming to come to my own conclusion on this, and did some calculations, which I found rather 'strange'. The Institute of Actuaries is thumping the tub again about increased longevity (based upon 2009 statistics) and this is bound to work through to further cuts in Annuity Rates. Interest rate assumptions for…
NHS pension vs early mortgage repayment vs savings
Apologies for a stupid question from a rookie... -I am in my late 30's, have been employed by NHS for the last 5 years but never contributed to pension. -I now have a mortgage for another 24 years. -I have used my cash ISA limit each year for the last 3 years. Without much understanding on how the pension works, I thought…
What is she up to?
A friend of the family, an elderly widow with no family other than her daughter, is coming under some pressure from the daughter to sign a legal document, drawn up by a solicitor. Although the lady in question is completely compos mentis, she's financially uneducated. She has no idea what this document is, and the daughter…
Paying tax in retirement
This must be a fairly common topic, but I cannot see it covered elsewhere. I am trying to calculate what my income might be when I retire. I don't have a problem in calculating the gross figure, but I am uncertain on all aspects of taxation. I will have a variety of income streams and believe that: * State pension -…
Can I stop her claiming his pension??
My ex-husband (and good friend) and myself were both Trustees of a company pension (not taken out in his own name but in the Company name). He has recently passed away, but was targeted by a gold digger when he was ill, and she is now claiming (among other things) the company pension. The fund holders have written to me,…
British Gas Board Pension
On behalf of my sister. Her husband has a British Gas Board pension and is approaching retirement. Yesterday she was told that he has to take an annuity at 60! Is that right? I was under the impression that one had until 75 to convert your pension pot. Or is there may be a condition in the pension plan that says you have…
NHS Additional Pension
Can anyone comment on whether the NHS additional pension is good value for money? I am currently a member of the NHS pension scheme but work part time so my pension at the end will not exactly be 'gold plated' but the normal part of the scheme always struck me as very good value (I am in the 1995 section as well which I am…
Help
i am looking at a new job and its says its pro rata and i cant work out how much i would earn a month can someone help me £22,958 - £26,276 35 per week team time only plus one week What do i do to work it out:j
How do I go about cashing-in my entire pension under the triviality rules?
Hi, This is my first post on any forum so please bear with me and thanks in advance for reading. I have just retired from self employment and would like to cash in my private pension policy of £17,486 (with AXA). I have looked up 'triviality' on the net but can't find out how to go about it. Do I need an IFA? I think I…
Skandia MultiFund vs Celestia
I was hoping someone can offer some advice on whether I should remain with my classic Skandia MultiFund pension or transfer to the newer Celestia platform. I am struggling with all the charges involved and which one offers the best value for money. For simplicity, lets say I have 250k spread over 25 funds. Any lump sum…
Missed contributions
Hi there Just wanted some advice - I have just found out that my company has not submitted 5 months worth of pension contributions at £200 per month (£1000) - what are my rights regarding this? Is there anything I can do to get compensation for this? I am just concerned that I was never told about this (even though they…
Private company shares and SIPP
Is it possible to put private company shares inside a SIPP? When they are sold (at an exit event) then does the cash sit inside a cash fund inside the SIPP until it is reinvested? If they cannot be put inside a SIPP then is there anyway they can be put inside a pension? My DH has been offered some shares in the private…
Pension Service Help with Mortgage HELP!
Hi there Thanks for your a
How to relase pension funds if your pot is worth less than £30k
Can anyone help on this subject? I need to get hold of £12k to pay off my debts (long story but not entirely my fault). I am struggling month by month paying off about £300 - £400 at a time. I have about £23k in my combined pension funds which I want to try and release £12k of but no one seems to be able to help me unless…
Sell home to pay for care home
Not sure which forum to put this in. My Gran passed away a couple of days ago and she was my Grandad's main carer. He has had multiple strokes and is now bed/chair bound but can feed himself. He has carers come in a few times a day to dress and change him, get him up in a morning, and put him to bed at night. Whenever my…
Local Government Retirement Pension Ill Health Retirement Mental Health
I have been trying to access my local government pension on ill (mental) health grounds since 2005. I have an extremely complex and chronic psychiatric condition dating back to childhood and have been deemed to be psychiatrically disabled as per the DDA and EqA by an eminent professor in psychiatry, who also certifies I am…
MSE News: Government 'Nest' pension fees could hit joiners for 20 years
This is the discussion thread for the following MSE News Story: "Savers who join the central pension fund from 2012 will have to pay a premium to cover set-up costs ..." Read the full story: Government 'Nest' pension fees could hit joiners for 20 years
Pension deposit account 4.10% fixed for 3 years
Hi For those of you with a SIPP looking for a deposit account take a look at the following: Summary: http://www.!!!!!!.uk/free-services/best-buy-savings-accounts/all-saving-accounts/rbs-the-royal-deposit-plan-7/ More details:…
independant finacial advisor
many years ago we had a independant finacial advisor from a local company near Manchester, who was great, he came to the house esplained everything without jargon and put us in the right direction with mortgage pension etc, we paid no fee for this service since then my husband has had several different job into which he…

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