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Calculator shows state pension £140pw makes some thousands worse off?
Just been playing with various "what if" numbers in this calculator https://www.turn2us.entitledto.co.uk/entitlementcalculator.aspx A simple example: Single Children under 20 = None Council Tax = £1000 Tenant - private England Age 66 Not working State pension the full basic £97.65pw Local Housing allowance £100pw £20k life…
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Releasing Cash from Pension Early
Hi, I'm after a little bit of advice and I know its probably going to be frowned upon but would appreciate any info from any one who knows none the less. I have a local government pension with a CETV of around £29,000 - (I'm waiting for exact figure from the provider.) I need to get my hands on some cash fairly urgently…
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Advice for first time pension planner
Hi everyone, I've recently been thinking that it's about time I started some proper retirement planning, and could use some advice on pensions. I'm 25 at the moment with a salary in the 40% tax bracket. I've been maxing out a cash ISA for the past two years, and aim to do so up until retirement age (although I do plan to…
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Pensions and Sipps
[FONT="]HI I currently have a pension with Xavier Consulting through my employer and this is a money purchase one and has been running since I rejoined in 2008. With the same employer I had a pension from 1998 to 2006 when I left the company and this was Final Salary and is with Capita. My current pension I am advised…
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Which product to save in for additional pension?
I've got a company pension that should give me a final pension of around £18kpa at 65 but I can draw down part of old fund which will be frozen when I'm 60. I'd like to have an additional pension income of £4k pa from 60. I'm in my late 30's so was thinking mid - high risks. However I'm confused as to how/where to save it.…
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My dad's private pensions
Hi all, My Dad has 3 Private Pension pots. He is 73 years old and has yet to take an annuity as he manages on his state pension. He has a rusty old car, no holiday, doesn't drink, doesn't smoke ... just how he lives his life. The pots would go to my Mum on his death. Have we got the following correct ... The current rule…
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Tax relief on pension (higher tax earner) how to claim back
I'm a higher tax earner and paying 5% of my salary into a stakeholder pension. My company tops this up by a further 10%. It shows clearly on my March payslip that I have paid x amount into the pension this year and also the total tax I have paid. When I entered this into the calculator on listentothetaxman (along with tax…
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Is a SIPP for me ?
Greeting everyone, This is always my first port of call for anything I am trying to get my head around! I am 56, took early retirement last year and am in receipt of a lump sum and a final-salary pension of £20k pa, I immediately started work elsewhere for £60k pa (although I did not expect it to last a year and still…
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options for small pension pot
Hi All This is a first post so please bare with me. I am trying to get some advise for my mother. She has a small pension 'pot' which has just been valued at £18,198 (total transfer value). There are no payments going into it, in fact it has been sitting for at least 20yrs. It was paid into when she was a co-director of a…
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MSE News: Budget 2011: £140 a week state pension planned
This is the discussion thread for the following MSE News Story: Read the full story: Budget 2011: £140 a week state pension planned
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LGPS Ill Health Retirement - Advice Required
Apologies for the long post.... I worked in Local Government between 1987 and December 2009 when my contract was terminated due to long term ill health. My medical conditions include, Degenerative Disc Disease of the cervical and lumbar spine, Spondylolisthesis in the cervical spine, Peripheral Nerve Damage,…
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Pension products from banks?
I'm considering opening a pension product, the bank have spoke to me and it seems the most convenient way, it's barclays bank and they offered me an aegon pension. Does anyone know what charges? I presume high, but just how high? I'm a higher rate tax payer (50%) and £20,000 per year will be my contribution
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Transfer of NHS pension
I have worked in the NHS for 20 years had a pension with them for about 15 years. I have now moved to a new job (non NHS) and need to know what is the best option for me with regards to my pension. No company pension at my new job. Thanks
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Tax free drawdown
After taking tax free cash, my pension pot is £150K, so could I take £600pm tax free as I have no other taxable income and supplement my income with drawdown from savings? This way I would avoid tax until state pension kicks in when I raech 66. How dangerous would this strategy be given higher inflation and cost of living,…
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lump sum annuity
I have just been TUPE over to new firm, I was with old company 7 yrs pension is worth around £21K usual choice of lump sum then annuity with them or new pension etc etc I will take the 25% lump sum as needs must but what to do with the remaining £15K I have a good pension from my main job of 20yrs (career change) with a…
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Purchase of Additional Teachers Pension
Have an opportunity to buy an additional £3K of pension for the lump sum of £34K. If purchased before the new tax year then this will be increased in line with the RPI until the pension is paid at 65 - in just under 19 years time - and then by the CPI. This includes a 50% spouses pension and the usual death benefits. This…
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Do I transfer my Civil Service Pension into the USS scheme?
So, I recently moved jobs within my organisation. The organisation has 3 different offices, and three different employers as a result. I have therefore moved from a Civil Service employer to a university employer. I have now been given the choice of whether or not I want to transfer my 8 years of Civil Service 'premium'…
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Stock lending (standard life/blackrock)
Standard Life have written to my wife to say that Blackrock have introduced stock lending to their funds. This is accompanied by the usual type of paperwork that says (in my traslation) "nothing to worry about - perfectly normal - regulated by FSA - fund will bear the costs- benefits split between fund (Blackrock) and…
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No clue about pension.
Hi. I am 31. OH is 26. OH is civil servant and has civil service pension. My salary is roughly around 55k before tax. I am looking at taking a pension plan. Tilting towards aviva pension plan through cavendish online. How is for any reason I need to stop payments towards pension, does personal pension plan allow me to do…
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Is it actually worth saving towards pension?
I'm 31 and I've been contributing towards my pension since 3 years (I pay 10% of my salary and my employer pays additional 14%). I've recently started worrying that by the time I'm 67, the retirement age will increase again and that I may not live long enough to benefit from my savings. In addition, I heard that having an…
