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Question re. transferring personal pension to SIPP
I have a with-profits personal pension scheme with GE (originally National Mutual). It has a defined retirement age of 75. If I decide to transfer the pension to my SIPP (with Hargreaves Lansdown) what would the implications be in terms of the age at which I can drawdown on the pension? (i.e. would this make it possible to…
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Paying Tax on Pension when made redundant
Hi There, A family friend has recently been made redundant from her job. Her payout was just under £6K. She is at pension age but deferred it for a year and has only recently started claiming it. She recently recieved a letter from State Pensions that she may need to start paying income tax on her pension. My question is,…
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Redundancy Sacrifice
Hello folks, I wonder if somebody could advise me on the above as I've only just been made aware of it and most posts about this appear to be very old. I am about to be made redundant after 22 years of service, and will receive a pre-tax payment of around 100k. It has been suggested to me that I should ask for 'redundancy…
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as soon as.
Appreciate some help please, I've a pension I would like to take as 'soon as' due to changes regarding male rates, it's approx 47k got quotes from provider s/life but looked poor any advice welcome. frankdee
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Pension misselling
It looks like I have a valid claim for pension misselling being advised to move from a deferred final salary scheme to a Personal Pension, the effects have been catastrophic. The IFA(Mercer) has acknowledge the claim and asked for further details. At the same time I have been talking to a claims company who have offered to…
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Two pensions with same company
If you have two pensions with the same company. (One from initial employment before nationalisation, second from return after the above) Can you just take the smaller of the two and leave the other one until pensionable age. I know at 57 I can take both, but don't want to just yet. I am struggling on ESA, which I accept…
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Discontinue pension plan?
Hi All, In March 2011 my FA set up a Stakeholder Pension Plan for me which is run by Legal & General. The money I pay into my plan is paid into 10 funds. Since March 2011, it's in the region of 10k. Shortly after the plan was arranged, my FA left the company and handed over to another person who is quite rubbish. I thus…
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sipps help
Can any of the good people of the forum give me abit of help/advice as reading some of the posts on here i`m now properly confused and that does`nt take much doing!! Last wk i was contacted by a lady from Alternative pension investments asking whether i`d like to see one of their people about my pensions for a review on…
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Old NHS Pension - Rejoin?
Hi, My wife worked part-time for NHS from 2006 - 2007. She left and went back to study for 5 years. Now she has re-joined the NHS as a midwife. The pension department told her that she could not re-join the old scheme but a friend said she can. Does anyone have a view of her options? Many thanks
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Equitable Life payment and my pension
Im sure this has been covered and I appoligise in advance for my lack of knowledge or asking questions that may have been answered before. In the 90's I had a company pension with Equitable life but since Ive been self employed since 2001 its just sat there. When I last checked a few years ago there was according to…
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AVC Pensions
I am an early retiree (59) from the civil service with a pension of 10k a year. I also have a continued avc worth about 12k that i am thinking of taking next year at 60. Is there anyway that i can take more of a lump sum from this rather than 25%? I still have a small amount of pension to get from the civil service approx…
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Retirement income planning for a couple?
Our situation. Early 40s. Aim to retire somewhere between 55-60. Me - higher rate tax payer with decent public sector pension. She (my long term partner) - basic rate taxpayer with poorer pension. Mortgage - 16 years left and currently on very good base rate lifetime tracker. Rainy day fund in place and now building a…
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Annual Charge question
I have a pension (JESSOP MULTI ASSET PP) which Trustnet shows as having an underlying fund (Aberdeen Multi Asset). The AMC for the Jessop pension fund is 1.25% and the AMC for the Aberdeen OEIC is 1.0% with a TER of 1.54%. Silly question but is my total annual cost 1.25%, 2.25% or 2.54%? Cheers
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Panasonic pension
Hi I have a pension with Panasonic in the uk. Had a letter offering me 3 times the fund to move it elsewhere as did all other members. Financial advisers appointed by them said leave it there due to its nature - guaranteed etc. Just found an article in the FT saying Fitch have downgraded them and given junk ratings... My…
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Pension contributions deducted but not paid in
Hi I need some advice please. I was automatically enrolled in my college's pension scheme when I started work there in 2003. Monthly payments have been taken out of my salary since that date. However I recently discovered that my college had mistakenly not actually been paying into my pension and as a result I am entitled…
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Want to start a pension fund, where to start?
We are both 39. I am a full time mum with a very low part time income, OH works full time. Two children both at school. To date, we have made the conscious choice to invest in paying down our mortgage so we will be able to afford to move to a larger house while our children are young enough to get some years of benefit…
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Son asks questions on advisibilty new scheme
I hope this is the right place for a question on behalf of my son. ( Mods please move as appropriate if you think not ) :) At present he pays about 7% of his gross monthly salary in to his pension which is £115 per month (annual salary £22500, making his take home pay £1376 The new pension scheme, uses salary sacrifice,…
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Pension payments made after the pension has been cashed in!!!
In April, I cashed in one of my pensions purchasing an open market annuity, taking the maximum lump sum and purchasing a standard annuity with the remaining funds. Today I received a letter from my annuity provider indicating that they had received additional funds from the Inland Revenue via my pensions provider and duly…
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Flexible draw-down: how does it work in practise?
I am 68. I have a pension pot totalling about £83 000 with Aviva and Standard Life. I was planning to take 25% tax free lump sum and buy an annuity with the rest of it (Have just had quotes iro £4 000 pa on £63 344). However, it's just been pointed out to me that I'm eligible for flexible draw-down as I already have State…
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Pension Salary Savings scheme
Hi, I received a letter from my employer saying that they are introducing a salary savings scheme for those employees who make pension contribution into our company's pension scheme. It says it provides National Insurance savings to both the employee and the company and that we will receive the same amount of pension…