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10% increase to £140 pension now £155
The new £140 state pension has increase by 10% and is now expected to be at least £155! http://www.bbc.co.uk/news/business-12924666
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LTA Fixed Protection and Final Salary payments
When the LTA drops from £1.8m to £1.5 in April 2012 you can maintain the £1.8m level by registering for “Fixed protection” to . The rules state you cannot make any ”money purchase contributions” after April 2012. In the case where you have both a PPP and an ongoing Final Salary Scheme to which you continue to contribute,…
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Help Commuting LPG and investing lump sum
I have looked at similar threads but they don't quite answer my query. I have had some conflicting advice for two finacial advisors I already have a full state OAP and am about to take my LGP I was going to take my full pension and smaller lump sum One advisor said I should consider taking a smaller pension and a larger…
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Defered Memeber of Money Purchase Pension Scheme
Hello, I need help to understand a letter I have had from the administrators of my deferred pension. This is what it says.... "Your current fund and transfer value is £32747-15, of which £11657-59 is in respect of post 97 Protected Rights, £14797-77 is post 97 non protected rights, and £6291-79 is AVC's." What I want to…
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SIPP contribution...a little help needed
I have opened my SIPP - first year, but I need a little help with the amount I should contribute and get tax relief. For the year 2010/11, my gross income was £19,414 and my tax £3,575 (all on PAYE). I understand that the tax is added back to my own contribution. So far I have put aside £13,750 from income and savings to…
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An oldie but newbie for a Pension
In real terms I'm a bit of a novice when it comes to Pensions. I have aN NHS Pension, but due to ill health I haven't paid into it for many years and not been in a position to have another pension. I will shortly hopefully be in a position of contributing £150 to £200 per month to a Pension I am 49 and would probably keep…
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HELP! -Changes to the compulsory annuity purchase.
The following is listed as the new regs regarding annuity purchase..... I have a query regarding this, perhaps someone can help. My query is listed after the following............. The Government today confirmed plans to scrap rules forcing everyone to use pension savings to buy an annuity by age 75. But pensioners will…
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My Gran and Her Care Home....
I have just been discussing my Gran's finances with her and she has asked if I will take on a power of autourney for her. She's of sound mind now, but wants to get something set up just to be safe. That isn't our issue though, the problem we have is with her savings and home and the care home she is in. The care home costs…
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Royal Bank of Scotland Recovery of Pension Overpayment
I know someone who is the victim of a Royal Bank of Scotland Pension Overpayment. It's over £4,000. First of all RBS immediately reduced the payments to the correct amount (if it is correct). Then RBS asked for a cheque for the whole amount of the overpayment. When the victim objected, RBS then asked for 12 instalments of…
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Can I transfer private pension into my LGPS?
Hi I have an old private pension and the transfer value is 100%, so no fee. I have a local government final salary pension which I have been in for just over 16 years, can I transfer this old private pension in and if so would it be beneficial to do so? I have just over 6 years to retirement. The value of the old pension…
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Inheritance tax
I am a widow. My husband left nothing (I owned the house), does that mean I can 'transfer his unused inheritance tax threshold'? Does that mean I can leave more to my children? Even though they are children from a previous marriage? Sorry if this is on the wrong board. Ludmilla
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Teachers' Pensions
Hello, I am 34 and am in my 5th year as a Primary School teacher. I've been looking at my pension pot when I retire and wonder if AVCs or buying Additional Pension is the best thing to do? Any help of advice would be much appreciated. Many thanks
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Pension help
I Wonder if someone can give me a bit of advice on behalf of my mother please.She has a state pension amount of £154.20 per week and £34.49 per week coming in from my fathers former employers(scottish and Newcastle breweries).She basically has`nt a clue about what she can claim for,based on these amounts is there anything…
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leveling option db schemes
Anyone have any opinions on the pro's and con's on taking a leveling option at age 60?
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Company Stakeholder Scheme Investment Help!
I've recently signed upto my companies stakeholder pension scheme, its with Legal & General. Im 24 so got in relatively early. L&G allows me to choose which ever funds / lifestyle profiles I wish and its easy to switch around online. The default choice is a UK Equity Index Fund Lifestyle portfolio (lifestyling kicks in…
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Tax
If you are still working and you employmer had a problem and change your work pension to a different on so you claimed it by small lump sum and money each month NOW THE TAX MAN SAY MY HUSBAND OWES THEM £710.00 BUT THE PENSION PEOPLE DID NOT TAKE ANY TAX OUT WITH THE CODE THEY GOT FROM THE TAX CAN WE APEAL AGAINST THIS????:o
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what happens to pension
if i dont take my pension before i die will my wife get it and if she dies will it be transferred to my children
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Reach State Retirement age before wife
I am due to retire in Oct 2012 at the age of 65. My wife who is not working does not reach her state retirement age until May 2015. Will we have to survive on my single pension, or are there some allowances that I can claim to help support her? Orionesr
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Friends Provident Pension Fund Choices
Looking for some advice on the choice of funds for my Friends Provident pension. My employer will contribute 12% if I contribute 8%. My contributions will be made through a salary sacrifice arrangement. The funds available to me are listed on page 11 of the brochure: - http://www.friendslife.co.uk/doclib/bpen163b.pdf I…
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Pension Calculation help!
I'm a higher rate tax payer and am trying to work out how to calculate how to ensure all of my income that would be taxed at 40% is going into my pension. Here are the rough stats: Gross income £55,000 Total income charged at 0%/20% tax rate - £43,875 total income therefore taxed at 40% - £11,125 nett individual pension…
