Pensions, annuities & retirement planning

Archives for August 2012

Cashing / ending a pension
Hi, Hope someone can help me with this. Hubby and I were wondering whether it would be possible to end one or two of his pensions plans (collected during his working life at various different companies) and reinvest the capital somewhere else (we were thinking a long term buy to let.). Is this a daft idea or do-able?…
Police pension scrapped
There is talk amongst police the current pension scheme will be scrapped from 2015 and it is unknown what will happen afterwards. I appreciate nobody really knows what's going to happen, however I was wondering if anyone had any thoughts. The last time they changed the pension scheme in 2006 they allowed people to continue…
Please Help, letter I don't understand!
I get so annoyed with Pensions they seem to use words that 'normal' people don't understand. Given that I'm an Accountant I expect to be able to understand but still get lost. Today I've received a letter regarding a pension i had with a Previous employer and I don't understand a word of it - can anyone help? Dear Mrs…
Retirement Planning
Hello all, So I'm planning for retirement (I'm in my late 20s) and wondered if members wouldn't mind contributing opinions on my strategy, particularly the stakeholder aspect. Currently: State Pension. Contributing to Local Government Pension. Contributing fixed amount into a stakeholder pension with Virgin. Hope to have…
Pension
My mum an Indian citizen and resident of India was married to a British national who was residing in India. He passed away a few weeks ago and my mum has been trying to sort through his !pension work. My mum is below state pension age, dad was pensionable age. I called the international pension office and was told that mum…
Pension query?
I have received my yearly pension statement and it tells me that my pension is valued at an amazing £102.35! This pension goes back to 2003/4 when I worked for a company for four months and only paid contributions for those four months. My query is as to what my options are with this £102.35. Would I be able to withdraw…
Unfair Pension Transfer Charge?
I am looking to transfer one of my UK pension into a QROPS pension and have been quoted a transfer value of £49458.09 on a pension with a plan value of £54388.91 That's a transfer charge of £4,930.82, just over 9% Is this standard ? can I contest it? The company is Phoenix Life. Thanks for any replies
Do weekends count when calculating pension
I will have a very small nhs pension and every little helps. If my last day of work is a Monday, does that mean that the preceding weekend is counted as part of my service? I can't find this information on the nhs pension website.
pension credit and state pension
what is the difference between the two? pension credit aka Guarantee Credit is something you automatically get once you reach pension age right? its free and you dont need to have contributed national insurance. and state pension is something you get from working. with auto enrolment starting in october everyone is…
Gilts
In another post an IFA pointed out that over the past year the same mechanism that kept annuities at a record low meant investing in gilts in a pension has led to 10% growth. I got out of gilts /pension protector style stakeholder a year ago partly because I thought the mechanism that kept annuities low had to have the…
should we act on this new ruling?
http://www.avtrinity.com/wp-content/uploads/2012/05/Gender-Equalisation-JL-April-2012.pdf My husband has just over 120k ,split between three pension companies,the biggest being a stakeholder.He will be 62 in January and wants to pack in work by then,maybe do a part time job if he can,so we would need a pension to live on…
Mum living with my sister
Hi there Not strictly a pensions question, but here goes: My mum is in poor health and things not likely to improve much. It has been suggested she moves in with my sister, who is divorced and working the max number of hours she can before losing tax credits. She has 2 kids. Things are very tight. Mum has a house worth…
Any advice welcome
My wife has not worked since being injured in an accident back in 1989 but does not get any benefits. Will we still be entitled to a couples pension when I retire?
Pension Fund tables
Hello Everyone,I am new here. Please don't be too hard on me. I am 56 in a company money purchase scheme, plus 4 other smaller schemes, from previous jobs that are paid up.Is there a link to fund performace tables anywhere where I can:1. Check how good the schemes I am currently in are doing, and how much they charge.2.…
Pension Funds - Where to invest
Hi, I am 32. My current attitude to risk is 'low to moderate'. I currently am invested into: L&G UK Equity Index Fund - 50% JPM Life Growth Fund - 50% Approx 10k each. I am contributing 6% and my employers are adding 9% into my pension. I had a meeting with our Pensions representiative, and she said that I should look at a…
NPI/Pearl Pension Dilemma
Hi Im 55 at Christmas and have a Self Employed With Profits pension plan originally taken out with NPI but now, after years of heartache is with Pearl. I have other pensions which I am happy with at present. My problem is that Pearl' approach (and it has been for quite a few years now) is - quote "not to add any new annual…
Annuity Purchase
Need advice please.My wife has a personal pension with Scottish Widows.Her retirement date is in October this year.The transfer value is 24K.She plans to take the lump sum and purchase an Enhanced Annuity with the remainder.If she engages the services of a I.F.A.,how much will he charge?.Also,who pays him?,my wife or the…
I am 48 - should I bother with a pension.
I am a male 48 year old who is going back into employment after 8 years on IS/JSA. I had a permanent job before 1994 where I had a pension for a couple of years. After 1994 till 2004 I was self employed with no pension plan. I had always assumed that a pension was a waste of time with a lot of restrictions etc. But as I…
State Pension First Year - How to do partial year tax accounting?
I have just started claiming State Pension, which is paid every 4 weeks on a Tuesday. The last payment before the tax year ends (on 5th April) is 12th March 2013, with the next payment on 9th April 2013. For tax accounting purposes, how should the bits between the two payments be accounted for? There seems to be 3…
Early Retirement query
I know this may sound like a silly question but here goes! I am hoping to get early retirement from my employment and will need to complete a leavers form giving 3 months notice which will take me to the end of November. However, I am due a pay rise in the middle of my notice at the beginning of October. Will my pension be…

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