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Redundacy - best option to do with existing company dc pension pot?
Hi I have recently been made redundant. I have a good pension pot through 10 years of maximum contributions on a good dc scheme. I have now received paperwork offering me the option of staying in the pension without any future contributions or to transfer out to pers pension or new employer (tbc). What is the best thing to…
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mislaid pensions?
Hi My husband was self employed for several years and took out various pensions.he cannot remember what pensions he had and who they were with. This was over 25 years ago as He has been employed for the last 25 years . How do we go about tracing them ? Would somebody be able to track them on his NI number? thank you for…
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Threat of Tax and NI integration - a case for taking pensions early?
There seems to be an increasing rumble afoot to jack up taxation on pensions by integrating the tax and NI systems. Since taxation applies over a certain threshold, trending towards 10k p.a. the change from 20% tax to 32% tax on pension income over 10k means there is an argument for lowering one's pension income by…
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Contributory v non-contributory pensions
Hi, my employer currently matches my pension contributions monthly which I think means it is a contributory pension scheme? I have a job offer from a new company and their scheme is non-contributory. I think that means they pay in but I cannot? Is that correct? Just wondering if one is better for me than another. I'm…
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Pearl Freedom Bond
I have been following the threads about the Bond which was keeping me going with the info, hoping it would be ok in the end. Anyway to cut a long story short, my pension kicks in on 9th December, substantially more than the ifa could get on the open market, so the guarantee has come through. I am to get a lump sum, which…
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L&G Bonds Vs L&G Global Equity
Our Company Final Salary Scheme is ending and a new scheme is being set up. There is a choice of 3 funds - L&G Global Equity Fund 50 50 http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=L6F72&univ=P L&G Bond Fund http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=L6F72&univ=P L&G Cash Fund…
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Company contributions into SIPP
Hi all, My company pay a decent contribution into their company plan (DC). However, the plan performance has been abismal to say the least. I also run a SIPP, the returns from which have been quite impressive. I've asked my Company if they'd direct their contributions to my SIPP, but because of admin cost (5000 employee's)…
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What date is winter fuel payment given?
Iwas going to put this on over 50,s board..but I thinx they are all dead in there as hardly anybody hasput anything on board recently?.Urgently need to pay a bill and am pinning my hopes on £200 payment coming soon.Would be helpful if anyone new exact date it is paid?
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Trivial Commutation
I contracted out of SERPS 25 years ago then contracted back in after 5 years, in Jan 2008 I took the small lump sum of £4600, I am now nearing 65 and have a (very small) private pension due. My question is I wanted to take the lump sum (£10100) but does receiving my contracted out SERPS payment count towards the 12 month…
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Changing Pension Companies
I am thinking of taking my pension I have built up over the years which has a £40k fund at the minute. I will get a £10k lump sum which will be very very useful and about £1250 annually from the annuity. I have discussed this with my financial advisor and he says that if I change the company I will get a better deal. The…
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Civil Service pension - reduction for taking early
Has anyone taken their CS pension before the retirement age of 60? I may have to take mine early at the age of 56.5 or 57. I was told that this may reduce the amount by 5% a year - can anyone please let me know whether this is correct? I recently left the CS; I was planning on working whilst studying but my family…
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Pension switching initial charges
I have a pension fund with Standard Life which was started by my ex employer (now no longer trading). I have recently been talking to an IFA at the Welbeck Group about transferring the pot to a new personal plan of which I have more control over. I have discovered the proposal he is suggesting contains an initial transfer…
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just take or shop around
finally decided to cash in a frozen pension i'm 57,it only has a £32,000 pot it's with friends provident and they have told me i can have £8,000 cash and a pension of £930 pounds a year. is it worth shopping around or are they all going to be around this amount due to the pot being so small?
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Over 50 No Pension Plan
Hi, I am one of those disorganised people who has managed to pass the age of 50 and has no pension plan in place. What I would really like to know is if anyone can suggest a good plan for somebody like me. I have worked all my life and expect to get a full state pension but obviously that will not be enough in this day and…
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Does a pension (vs ISA) keep your money safe in case of job loss?
Hi I'm just wondering if anybody knows the answer to this one: say you have 20 grand in savings. If you have it in an ISA, I know that you will not get Job Seekers Allowance if you lose your job because you will be over the 16k limit. But say you have the 20 grand in a stakeholder pension instead. Is it the case that you…
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Investing cash in SIPP?
Please delete.
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Work pension paying commission, transfer advice after RDR?
My workplace offers a pension that is paying 0.25% commission to an IFA, sold on non-advised basis. One of the services included in the package deal is advice about switching to the pension. Another is advice about pensions in general. How are the latter two handled from 1 January 2013? Still allowed to transfer into…
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John Lewis pension
Hello My daughter is 18 and has a part-time job at John Lewis, she's still at school. She has been invited to join the pension but we're not sure if its worth doing. It looks like an excellent scheme, the first 3 years are defined contributions and then after that it is a non-contributory defined benefit. However, next…
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tax on a lump sum
On my 60th birthday in Dec 2012 I will be receiving a lump sum from a small pension I accrued when opted out for a few years.It is approx £3000 of which 25% will be tax free.The question is at what rate will the other 75% be taxed at? I earn approx £7000 per annum so am not paying any tax at the moment if this helps.…
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Buying Annuity
Does it make any difference who to buy an annuity through. Eg a local IFA who he doesn't know or someone like Hargreaves Lansdown. There is no health issues as he's never seen a doctor in over 40 years even though I advised him to go and get checked out but he is stubborn! I had read it is better to go through someone…
