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Commuting pension to lump sum
I am about to retire with an annual pension of £27000 and a lump sum of about £71,000. I can commute a max of about £5000 to create an additional lump sum of £60,000. I would appreciate some experienced expert comment on whether this is my best option at this time. I can commute any amount from nil up to the £5000. What…
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Cummuting pension to lump sum
I am about to retire with a pension and lump sum. Pension about £26000 and lump sum of £71,000. I can commute a max of about £5000 creating an additional tax free lump sum of £60,000. My instinct is to go for the maximum lump sum commutation but I would appreciate some advice/views on this. I have the option of commuting…
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Increase contribution or put eggs in two baskets?
I have a stakeholder pension and no company pension. I have been contributing less than a year but feel I am able to pay more in. Is there a general rule (without it being too circumstance specific) about whether to increase my monthly contributiuon or to start another pension scheme so as to have a couple of funds and…
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Pension transfer or not
I am 56 and have a pension from a previous company to which I cannot contribute. There are two funds 1. c.£50,000 2. c£20,000 (serps opt out). The pension is set to retirement at 60. From the documentation it looks like I would only lose a few hundred pounds if I transferred to another fund. Assuming I want to retire at…
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Cashing in Equitable Life With Profits Pension
Hi, I have an Equitable Life With Profits Pension, it is an old company pension from a job I left in 1992, it is not worth much in the grand scheme of things but I wondered if it could be cashed in and the money used could be invested in my small business. I have asked Equitable Life and they say no, government legislation…
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Transfer from LGPS to TPS?
Quick question for those in the know I have received confirmation of my current benefits from my LGPS - £46500 I now have the option to transfer it to the TPS. Given that both schemes are similar in terms of benefits and both likely to be going through similar changes in the not to distant future, would it be advisable to…
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NHS Pension Top Up
My wife (who is 51) has the opportunity to top up her NHS pension by £4000 p.a. She estimates that this will cost £60,000 in extra payments to do this. She plans to retire from the NHS at age 60. The money to top up her pension would otherwise be invested in an ISA feeder account over the next three years. My questions…
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Nic uk
By the time I'm 65 years old I will be 5 years short of my NIC. As of now I have paid 39 years NIC. I know that now you only require 30 years NIC to qualify for the basic state pension but is it worth my while paying the 5 years I'm due. If I don't get any extra pension because I've paid 39 years what happens to the 9…
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questions to ask an I.F.A
Hi all , after having read some of the great advice on here i have had a look online for local I.F.S'a so that i can get my current pension needs checked to see if they are right for me ... can anyone give me any ideas what questions i should ask ? thanks in advance
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SIPP Dividend yield
Hi all - first post, so here goes. I am building a portfolio of hopefully high yielding dividend shares in a sipp, and have produced a spreadsheet to help me track the dividend yields. I want the yields to be specific to my portfolio, so I plan to always use the actual price I paid for the shares plus associated costs when…
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Worth starting a pension this tax year (to fill it up later) ?
With this 3 year carry back, where I could next year put £50k into a pension and then utilise another £50k for this year minus that which I already contributed, do I need to have paid tax at 40% in 2010/11 to claim 40% tax relief or would my paying tax at 40% on £100k in 2011/12 satisfy the requirements ? It was stated…
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Mis-sold pension
Hi there, apologies if this has been covered in another thread. Many years ago (20+) when I was about 18 I signed up for a pension because I was told I "should" by my mother, without really understanding for myself the benefits, options, choices (I was young ok!!!), or really having it all explained to me by the salesman…
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claim for ill health retirement pension
posted this initially in wrong thread hope it is correct place this time... My wife passed away last week and seems im plagued with inept people at a time i can do without it.... another problem occurred with a pension claim if anybody can help.... she claimed ill health retirement from scheme ( only 6 months till actual…
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Help demystifying multi-tier pension charges
Hi to all you esteemed and knowledgeable pension experts. I am hoping you can help me shed some light on the impenetrable sphere of pension charges. I am helping my OH decide what to do about a pension with her new company. It is a small company and until now has had no company pension scheme but would pay into people’s…
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Company pension plan - good deal?
Hi all, I'm in my mid-twenties and had a bit of a lightbulb moment at the weekend - I'm hopefully completing on the purchase of a flat with my partner in a few weeks, and suddenly released that I needed to get around to sorting out wills, life insurance, and a pension. I've read some of the useful info on these boards…
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New pension options
I would be very grateful for an answer to what I hope is a fairly simple question. I already receive over £20k per annum in pension income from a previous employment. My state pension will increase this amount to £25k. When I retire from my present employment in about 18 months time, can I take my £40k pension pot as a…
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NHS monthly pension Question
Hi... I have been retired for nearly a year...I know my pension is index linked.....at what time in the year do they adjust this to account for inflation?? Thanks ian
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SIPP for an ex pat
I am an ex pat living and working in the UAE. I want to transfer my UK pension to a SIPP. Am I advised to look at the same SIPPs as I would if I was still living in the UK or should I be looking at something different. I see that the Hargreaves Lansdown SIPP is recommended, is this still good for an ex pat?
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Selected Retirement Age - does it matter?
My various pensions (and those of my wife) have a variety of retirement ages. As they are all money purchase private pensions, does this age actually matter? I can only think of two reasons - 1) Some pensions automatically change asset balance as you approach retirement age, but with annuities on the wane, I'd only be…
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How does index linking of civil service pensions work
Hi, I am new to this site and to posting questions anywhere. Can anyone help me to understand how index linking of civil service pensions from employment long ago (1986) works. I have about fourteen years service that ended in 1986. I recently reached 60 and want to press the button on this pension. I have not heard from…
