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Pension Help
Hello Everyone, I've got the investing bug, my ISA's will be maxed out soon and I want to invest more, someone said if you havent contributed to your pension yet, then you should do. I'm 27, self employed sole trader and doing quite well ( so far ). Since April 2011 I've made 124k, so probably will hit 50pc tax bracket…
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Pension help.
Thank you all for your help with my pension situation. I just have some more questions, if you will. (I have tried the department at work that deal with this, and all I get is "we cannot advice you", I was actually asking for INFORMATION at this point, I have these forums for advice!) I think I am going to get made…
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Government urged to restore 120% drawdown limit
http://www.ft.com/cms/s/0/dc10a12e-e2a1-11e0-897a-00144feabdc0.html What I really like is the last paragraph, were the FT go beyond the press release and rely on their own knowledge to add more info, which results in something that inexcusably confuses drawdown with flexible drawdown and subtracts from the article rather…
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How do companies get rebates from Fund providers?
Hi, Lately i've been reading a lot about two things- The commission IFAs charge/receive on Pensions they recommend and the commissions paid by fund managers to 'investment platforms'. On that latter, i see that certain firms/companies are able to get 100% rebates on the commission received from fund providers, even if they…
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Pension Advice
Hi, I am currently looking into setting up a pension. I currently don't have one and have never paid into one (my employers have never offered them so haven't been able to do one that way). I am nearly 30 so thought its about time I started looking to the future. I am on maternity at the moment but may not be returning to…
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Arrangment fees
In an attempt to bring all my pension plans into one provider, I'm in the process of transferring the value of an older personal pension into my current Standard Life Personal Pension. For the arrangement of the 44k transfer Standard Life will charge over £1000. This seems steep to me. Is this typical for such a transfer?…
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pension merge or not
I have three pensions a forces pension and two private company ones is it best to merge the pensions in to one pension or keep them separate?
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Pension at 50 problem
Last year I was "encouraged" to accept a voluntary redundancy offer after 32 years with my company. Before deciding to leave, I made enquiries about the impact on my final salary pension. I was advised that I could opt to receive a reduced pension from age 50 onwards. I received estimates for the various pension options…
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Teachers SIPP question
Hello, I wonder if anyone can offer a little guidance please. I'm a teacher, paying into the teachers pension - but I want to retire much earlier than it will allow me. So I've been looking into SIPPs and wondered if it'd be possible to use a SIPP to plug the gap. i.e. Use my SIPP to provide a pension for just 10 years,…
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Considering a SIPP
Hi I am considering starting a SIPP as an addition to my retirement plan. I have a group SHP, I am and my employer contribute into. But I want to pay more, but I want more choice than my SHP allows. I have a paid up personal pension only worth around £1,000 that I also want to consolidate into the SIPP for simplicity. I…
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NHS Pension forecast-Can I retire at 50?
Hi I have recently received my pension forecast and it looks like I may be able to take a max lump sum at 50yrs and then a reduced annual pension. I have been nursing since I was 18yrs and am now 48. I am eager to take the lump sum and use this as an investment to provide an income when I no longer want or am unable to…
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NHS additional pension: lump sum and tax relief
I recently bought some additional NHS pension by lump sum. I paid by cheque. I wrote to HMRC as I'd paid tax on this lump sum to see if I was due any tax relief. Their reply (for more info) seems to imply that I will only be able to claim if I am a higher rate tax payer which I'm not. I thought that you didn't have to pay…
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Shall I keep contributing
Hello all, its my first post so be gentle. I'm 42 years young, self employed with a limited company, I started my pension late and started contributing just over a year ago. My limited company contributes £1k per month into my pension, with a retirement age set at 65 I would have contributed £276k. I have worked out I will…
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Advice re: Pension Lump Sum
I'm wondering what to do with a pension lump sum. Whether to put it into a managed portfolio with an asset management company following advice from a financial services company bearing in mind the original commission and annual charges that will follow or to invest in a fixed rate bond for, say, five years or invest in…
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Pension Funds for Business
Hi Can I take money from my pension to use to fund a new business? Thanks Carol
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Contracted out with Phoenix
I contracted out of Serps originally with Sun Alliance in the late 80s. It was with profits and by the time I contracted back in (mid 00s) had a transfer value of around £12k. It had a guaranteed annuity so I felt it best to leave it where it was. Phoenix now manage this and last year they consulted to remove the guarantee…
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Using pension savings for solar panels
Hi, I'm after advice if anyone has can help? We have the opportunity to buy solar panels for the home and would very much like to buy them fully, not the free scheme. My wife has a pension scheme from a previous company and we are trying to weigh up if it will be better to use some of that and save on energy or invest into…
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Does this sound right? Seems low
Hi all, Been lurking a while, first post, I am a member of what I thought was a very generous pension scheme, but have just received my first annual statement and the prediction looks a lot lower than I had assumed. There are 2 parts to the scheme; 1) I put in 3%, company put in 17% 2) I put in 3%, company put in 3%. I can…
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paying into SIPP to get rid of savings?
I am self-employed and facing repeated reductions in my earnings, and could find myself unemployed next year. I understand the self-employed can get the income-based JSA. But I do have stockmarket investments in a stock and shares ISA, in the low 5 figures, that mean I couldn't get the JSA, even if I had no income. Rather…
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I need help with my pension!
Hi, I am really stuck with what to do. Not blowing my own trumpet but I am usually quite good at grasping things very quickly, but I am in a right pickle with this pension malarky! I am a 28 year old woman, I work for a local council. I have paid 6.5% of my salary into the pension scheme since I started 4 years ago (I…
