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Do you stay in job just because of good pension, 30 years to go
Hi Just wanting some advice. I currently earn 25k p.a. and have a non-contributory final salary pension calculated on 60ths . I am 35 years old. If hypothetically speaking I got 2.5% payrise each year from now to retirement (30yrs)I would probably end up on approx 50k p.a by the time I retire and therefore get a pension of…
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Pension v. Drawdown
Looking for views /advice/comments. I have a deferred final salary pension. The latest options supplied to me (January) for age 57 are as follows :- Pension of £10,200 pa or Pension of £7,500 pa plus a lump sum of £50k or A transfer value of £293k The pension option, rises with inflation (max 5%) and has a 50% spouse…
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Paid £9500 avc but only £1529 tax relief?
I submitted a claim to tax office for tax relief on £9500 avc payment made in last tax year but have only received a payment back of £1529. I was expecting a lot more as my gross earnings for tax year were £52033 and I assumed I would get 40% tax relief on the payment? There calculation is as follows Income 52033 Minus 60…
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will i lose my late husbands pension
i am 48 ,will i lose my late husbands company pension if i remarry
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Section 32 Pension Redress
I transfered a company pension into a Norwich Union Section 32 policy in 1991 . In 2000 I was awarded a lump sum for being mis-sold this policy. This redress was to provide for the tax free lump sum and the other benefits that the original sum had no hope of producing . Like others I have recieved no bonus since 2005. Now…
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Another calculation question
For a defined contribution pension if I have a projected figure for pension at age 60 can I calculate an estimate for age 65? Is it purely a case of deciding what a reasonable % increase per year is and applying this or is there more to it than that? I've been trying to get a handle on our pension figures via an IFA for…
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Section 32 Buyout bond question
I have a Section 32 Buyout bond with Clerical Medical which is due to reach my nominated pension age in Nov 2012 - I will be 65. My understanding is that Protected Rights and GMP restrictions have now all been removed. Therefore, can I transfer the cash value of the Buyout bond to a SIPP? I also have another smaller…
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Calculating the effect of inflation
If I want to work out how much £x will be worth in y years' time assuming inflation is z% what formula should I use? Thanks
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Age Partnership
Hi Has anyone had any first hand experience of the above reitrement specialists please?
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Legal and General Group Pension......
A quick question if I may. If an employer paid a monthly contribution of approx £190.00 to a Legal and General Pension (employee makes no further contribution to this particular pension plan), who was then taking a monthly management fee of approx £23.00 from that contribution - 12% ish? - does this sound right? Apologies,…
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Investment for parent with no pension, savings or property?
Hi, I would really appreciate some advice. My Mum has no pension, property or savings - she has also been bankrupt twice. She is only in her mid 50s but, thinking ahead, I would like to invest some money on a monthly basis to pay towards some kind of pension for her - is this possible?? Also - not to be morbid but an…
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shatterling
Retired with not much savings and have been advised to consider equity release to give me more. Am mortgage free. Am not sure if this is good advice
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Being done out of pension !
My civil service employer decided to offer me early retirement. As I was in a final salary scheme all paperwork, naturally, set out my pension based on the salary I earned to date. The correspondence made clear that I if I accepted the offer it constituted a binding contract. I accepted the offer and had a formal leaving…
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Winding-up DC pension scheme - lump sum query
Hello and apologies if I am about to ask a dumb question. My OH has an old DC pension scheme with an ex-employee which is currently being wound up. We have just received a letter giving us our options which are:* Transfer to a buy-out plan with Standard life * Transfer to another registered pension scheme of your choice *…
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Pension advice needed
Whe I left university I went straight to a job with a built in pension scheme, it was simple and easy to do/understand. However, when my son qualifies he will be in an industry where short term/temporary contracts are the norm. Whilst he is more focussed on graduationg/getting jobs, I am concerned about what pension advice…
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A couple of SIPP questions
I'm a regular user (and advisor) on other sections of this forum so I've set up a new ID to ask some financial questions for reasons of confidentiality. I hope that is OK. Could some kind soul please help me with some basic SIPP questions for my fairly unusual circumstances...... I'm aged 54 and not currently working for…
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Tiny pension
Hi everyone. I worked for a company for 10 years and paid into a company pension scheme. I left the company in 1997. I have a preserved benefits statement that shows a total pension (at date of leaving service) of £2,832.66 per year. I am 55 years old next month. I am currently employed on a low salary (15k) and receive a…
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Help with my partner's Final Salary pension!
Hi everyone. My partner works for a company that has a final salary pension. He has worked for them for 9 years and is 27 years old, and has been in the scheme all along. He has been given the option to pay in an extra 3.5% of his salary(after tax) and still retire at 60, or to continue the current level and retire at 65.…
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Some advice re SIPP verses Saving
Hi folks being a newbie I’m sure this has been answered in various guises previously. I’m in a bit of a dilemma and was wondering if I could ask for some opinions (not advice, just guidance). This is the current set up. I’m 53 and have a SIPP currently valued at 140k, the latest statement indicates that this could return…
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What % of a pension fund should be in emerging markets?
Hi Currently My wife and I (early 30's) have about 100k in two pension pots. the first about 1/3 is in the UK so is mixed UK / EU. Then about 2/3 is in the US so mainly US funds. The US is static but I expect the EU to increase to at least triple during our working lives. I am starting a new Pension due to work…
