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St James Place
Some one I thought was an Independent Financial advisor has been to see my hubby and I as hubby can retire from work if he chooses to now. He started delving into my meagre pension pot and has suggested I move it from L&G to be managed by St James Place. Turns out he is a partner, so not quite independent. I have read a…
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Royal and Sun Alliance Guaranteed 10% Annuity
I have a pension that I tokk out with Sun Alliance in 1988 that gives me a guaranteed annuity of 10%. I think these are called 'Zombie funds' now. Not sure why. I paid into this for 6 years before joining my company scheme. Sun Alliance have since become Phoenix but I still receive my pension statement each year though the…
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Regular checks for possible annuity?
http://blogs.telegraph.co.uk/finance/ianmcowie/100010610/at-last-some-good-news-on-pensions/ "Billy Mackay of SIPP specialists AJ Bell added: “Savers who opt for drawdown will need to be clear about whether their pension plan is likely to be their primary source of income. “They will need to understand the overall…
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MSE News: Government stands by pension change plans
This is the discussion thread for the following MSE News Story: "The Government says it intends to press ahead with plans to raise the state pension age for women from 60 to 65 in 2018 ..." Read the full story: Government stands by pension change plans
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Pensions: dying vs living forever! When is a pension worth it?
Hi, I'm new to pensions. I can't help thinking that you pay in (for example) £200 a month from 25 to 65. Retire at 65.... life expectencey for a male is 77. that's 12 years. (200*12)*40 = 96000 Then they pay you £5000 a year for as long as you live (12 years) - so that's £60,000 you get back.... they keep what's left? I…
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Thoughts on Pension Investment choices
I have not actively managed this so would appreciate some views. My pension pot is about £200K split as follows - L & G Stakeholder - Managed fund - £62000 Cash and fixed interest £7000 Aegon Personal Pension - WP Endowment £16000 Mixed £33000 High Equity WP £22000 Standard Life Transfer Plan - Pension WP £26000 Pension…
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Its not worth haveing have a pension
IF YOU HAVE A PENSION AND LOSE YOUR JOB ANY PENSION YOU DRAW COMES OFF YOUR JOBSEEKERS ALLOWANCE SO YOU ARE PAYNG YOUR OWN DOLE WHERE AS IF YOU COME TO THE UK WITH NOTHING HAVE NOT PUT ANYTHING INTO THIS POT YOU ARE GOING TO GET THE FULL JOBSEEKERS .YOU MIGHT AS WELL PUT THE MONEY UNDER THE MATTRESS AS SAVE FOR A RAINY DAY…
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SIPP or Stakeholder while non resident?
I've done some searches and am struggling to find out what I need to know. I am emigrating this summer and leaving my current teachers pension (still quite small at the moment). Mid 30s with a young family my wife will not be working. I will probably continue NI contributions while away. Initial contract is 2 years but may…
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Are Personal Pension Plans worthless?
I recently took a look at one of my friend's personal pension funds and I don't see the benefit at all!? (We're both self-employed) Since 1981 he payed in £360 annually and he retires at 60 in 3 years time, meaning he will have put in a total of £11,880. His paperwork says that based on the 5%/7%/9% projection growth rates…
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Telegraph - abolition of basic rate tax relief possible
http://www.telegraph.co.uk/news/politics/georgeosborne/8584227/George-Osborne-plots-7bn-pensions-raid-on-better-off.html If this were to happen, would there actually be any point in saving into a pension unless you benefit from substantial employer contributions, as the money will likely be taxed a second time when you…
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Should i stop paying pension contributions
I am considering stopping paying into my BT pension, I have 41 years service & hope to retire in the next year or 2 at age 58/59. My pay is effectively frozen, however becoming a deferred pension member would mean an index linked increase every April. If I stop paying in, I get a 6% 'pay rise' and can't see a downside at…
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Re Pension for Widow
Hi just trying to get some advice.My mums husband left her about 13 years ago..My mother is 84 now and receives AA and Pension credit.Her husband died about 4 years ago which they never divorced so they were still married when he died.Would she be entitled to any of his pension as this pension must be dormant or what would…
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Widowed Mother's Allowance/ Widow Pension
Hi, I am looking for some help. I've looked online and have not been able to find an answer. My mother-in-law has been receiving Widowed Mothers Allowance since 1993 when her husband died. She currently gets £169 per week. Her youngest child is leaving full time education and she has received a letter saying her widowed…
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Pension Investments
Hello all, I am 26, and currently have a pension pot of £15,000. I earn £37,500 pa and currently contribute 15% (8% from me and 7% from my employer) of it to through salary sacrifice. My pension is a stakeholder pension set up by my employer and the provider is Standard Life. I understand the need to have a good pension…
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Cost of pension advice
I've contacted a financial advisor regarding the sorting out of my pension for when I retire in March next year. My pension fund is not very large, less than £100,000. He has quoted me the first consultation free then either commision based or £150 per hour thereafter. Can anyone tell me if this is the going rate and…
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Public sector wellcome to the real world
What is happening today regarding Public Sector Pensions and contributions is what has already happened in the Private Sector. Final salary Pensions are now gone forever!!!!!!! as much as we all dislike it. 2 years ago I went from a 5% Contribution 1/60th Final Salary scheme to a 10% Contribution 1/60th Career Average…
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Advice re: stakeholder pension required!!!
Hello fellow Moneysavers, I recently remembered about an old stakeholder pension with Aviva (was Norwich Union I think) that I set up through an old job a few years ago. It doesn't have much in it - and I called them just now and they said I can either start paying back into it, or transfer it to another pension - which I…
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Pensions and tax
Hello, I've recently changed jobs and moved from a company pension to a personal pension. I've always had a company pension to excuse my very basic questions. My advisor said that I will now have to let HMRC know on my annual return that I'm paying into a personal pension. Will this be me filling out a self assessment…
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Small pension pot
I have just found out i took a private pension plan in the 1980’s and only paid in for a couple of years. I have managed to trace it and it is now run by Reliance Mutual. There is only £1157 in the pot. They say i can cash in £289 and have a yearly pension of £52. This hardly seems worth the administration costs. Is there…
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İs there a ratio of estimation for amount needed in retirement?
İ saw someone say that you need 40 times required income to enjoy a reasonable standard of living in retirement but they gave no details of how this figure was 'compiled--- i reckon i can live comfortably on 10k. i have about 550k worth of assets(in the uk and abroad) therefore 55 times income amount. But is this figure of…
