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Pension loans/tap/reciprocation busted
The Pensions regulator has got hold of this and taking the "fake" schemes to court seems likely all the loans will have to be repaid https://www.moneymarketing.co.uk/1033220.article?cmpid=MME01&cmptype=newsletter&email=true
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WFTC and pension
I am a 50+ year old SAHM(2 kids at school 15+17) who looks after elderly father and aunt. I don't get attendance allowance or money for them. I do get working families tax credit. I am thinking of applying for my Civil Service pension early (did over 14 years with them). If I do will it affect/reduce my WFTC money? Bit…
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SIPP or Stakeholder Pension
I have recently started my first permanent job since finishing my graduate studies. The company I work for does not offer a company pension but will pay 15% of my salary into a Stakeholder pension of my choice. I am aware that this is a very generous offer as this is seperate to any contributions I would make myself.…
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Share Save for pension
Hello, Can anyone see a problem with the fowling idea : I pay 5% £64 in to my pension ( £80 after the tax is put back in ) and my employer puts the same in, as long as I keep putting in no less than 2.5% they will still put in 5%. My idea is to reduce the pension by 2.5% £32 and put it in the share save, once its complete…
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Pension waiver/payment cover
I have a Scottish Widows pension (former Lloyds TSB). When I took this out in 1992 I also included a waiver of contributions. I went self employed in late 1994 (and informed them of this). Should they have cancelled this then, or at least advised me that it was no longer suitable?
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Question
Scenario Salary is just below 40% tax limit, but bonus's paid, make it well into 40% bracket, but are paid at the end of the tax year. So how quickly do you have to transfer to get it into the pension? Paid salary and Bonus 25th month (March), end of tax year 5th April, I assume pension provider has to be in receipt by the…
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Pension query regarding death in service and refund of contributions
Hi Folks, I was wondering if anyone has ever had the experience of having to deal with the process of gaining a refund of a persons pensions contributions and make a death in service claim when a person has died. My mother-in-law died 2 months ago now and we are trying to deal with her work in getting the above sorted out.…
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Can I claim back tax retrospectively on pension lump sum?
I know I can automatically get back the basic rate tax when I make a lump sum contribution to my company pension. And I can claim back higher rate tax in my tax return. But 3 years ago I was paying a lot of higher rate tax, not so now. Can I make pension contributions this year, and claim back higher rate tax paid 4 years…
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FS Levelling Option
Hi, Before I contact my Pension Scheme I would like to see what you think maybe the outcome may be. I was pensioned off work at 49 (ill health) I was offered the option of "levelling" my pension income, as I was leaving so early. The idea is that my monthly pension is made up of 3 componants 1: The earned pension 2: the…
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Guaranteed Pension
I have received correspondence from my pension provider with advice about my pension which is due in December. They firstly advise me to shop around to improve my retirement income, but then go on to state "Your policy provides a guaranteed pension at retirement which is a valuable benefit. This means the income you will…
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MSE News: Controversial women's pension plans pass through Commons
This is the discussion thread for the following MSE News Story: "Under new legislation, the retirement age for men and women is to be equalised at 65 in 2018, rising to 66 by 2020 ..." Read the full story: Controversial women's pension plans pass through Commons
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Pension vs long term savings
Hi Martin and guys, I am new here and have a question that I would like help with... My company went in to reicevership 2 years ago and my payments to my pension were stopped. I would like to know if I would get any benefit in putting the same amount of money into a 5 or 10 year sealed account rather than start another…
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Saving for my baby's future & old age - absolute beginner needs a bit of advice
God, I am SO confused! My little boy is 6 months old. I'm conscious his generation are predicted to live to a ripe old age, and that pension provision may be an issue for him. I'd also like to save up some funds (in our names) so we can help him with a house deposit or something when the time comes. We're investing £25 pcm…
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Pension Confusion...
I wonder if I could take the time to layout my pension situation to identify if this is ok, or if there are any risks at all (apart from the fact there is never enough money or time to retirement!) I have three separate funds at moment, which have all been company pensions - one final salary and 2 funds. I have not had any…
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SERPS pension losses
Following advice from the governmet I opted out of SERPS in 1987 and my contirbutions and incentives were diverted to an insurance company as protected rights. The insurance company advised me in 1994 to return to SERPS, which I did. I am about to take my state pension in September 2011 and I have been notified that £20.53…
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Pension advice required...
Hello, I am currently a full time mum, with 3 pensions that I am not contributing into. They have values of £17,120.43, £5778.40 and £1456.00. I have no financial knowledge so am not sure whether transferring these into one of the pensions would be more beneficial to me and what questions to ask if I do. Ideally I would…
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Small pension fund transfer
Hi folks, My wife has tasked me with starting a SIPP for her as she started her private pension contributions quite late. She has a small DCS pension pot with her previous employer last valued at around £1800. I wanted to transfer this pension into a new SIPP but I kept being told that the minimum transfer value in the uk…
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Simple pension advice
If someone can give me some straightforward advice, I would appreciate it. I have a very small nhs pension, am 42, and want to start a private pension. No share holding stuff, just something nice and simple. Thank you in advance
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Individual Pension PLan
I have an individual pension plan which i have not paid into for about three years. i received a letter today which told me that they are removing the stakehold charge cap and that this over the years this could reduce my pension to zero. I am 35 years old and have had the pension since i was eighteen. It was originally…
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50% tax relief on pension contrib.
2010-11 I am a 50% taxpayer (I know, lucky me. It was due to a large redundancy). I know about the complex anti-forestalling rules (they are pretty complicated, but I think I nailed it), and worked out that I could make a single payment of £3083 into my new employer's pension and get full relief at my marginal rate of 50%.…
