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Pensions, annuities & retirement planning

Archives for February 2013

Clarifying Contracted out Deductions
My husband turns 65 in two days. We have lived abroad since 1988 when he retired from the Royal Navy after 25 years. He left the RN in March of 1988. He applied for his UK Pension and has received information that he is entitled to GBP95.03 per week based on his contributions. Because we are not very up to date with the…
Radio code
Hi all need radio code for ford radio serial number is m084880 thankyou
financial guru stumped: stranded pot
As the amateur financial guru for my extended family, I'm stumped by this one. A relative wants to lose a few pounds off the value of a with profits personal pension so that it falls below the £2000 limit for "stranded pots" commutation. I suggested moving it to another provider who would charge, say, 1% or 0.5% for the…
Terminal bonus Phoenix Life
I have a pension plan with Phoenix Life (was originally a Sun Alliance policy). It has a guaranteed annuity rate and is a with profits fund. I've been paying into the policy for 29 years and it matures in 2 years time. It's not a PALAL fund. I'm trying to decide whether to take the annuity now or wait until maturity. I've…
Transfer deferred DC pension into USS?
Hi I have c.£25k in a DC scheme from a previous employer. I currently work for a University and am a member of the FS section of USS. Out of interest, I have requested a quote to transfer my old DC benefits into USS. I'm expecting to receive the quote in a couple of weeks time. But... next year my salary is being cut by…
Old pension funds...what next?
About 23 years ago as an 18 year old, I opted out of SERPS and took a personal pension plan. As I recall, everyone at work took it, with little or no advice being given. I always recall that we were all literally railroaded into it, although proving that now is impossible. I contributed the fund for a little over a year,…
Voluntary Early retirement or redundancy from local council
I work for local council and we have all been asked if we would consider early retirement if over 55 or voluntary redundancy. As I am 55, I presume I could have my pension. I have my pension forecast (up to March 2012) so have a rough idea of what I could get. Does anyone know if local council will pay pension as on…
Higher Pension vs Higher Lump Sum
I am only 30 but due to ill health have been retired on a local government pension. So now I have an option. Take a low lump sum of a few hundred pounds and take my full pension. Or take a lump sum of around £6k and take a pension 40% lower. There is also an option of anywhere in between. I am only 30 and although my…
HMRevenue pension
Hello My parents worked in England a few years and are entitled to a low state pension. (Father - 73£state pension + 33£ S&N pesnion scheme weekly and mother - 33£ state pension + 10£ S&N pension scheme weekly). The question is: do they have to pay tax or fill any kind of form? They live in Poortugal and don't have any…
Calculations help requested - company removing scheme
I'm posting under a rarely used name, since I'm a bit too identifiable with my usual name, and this is a sensitive issue at work. And apologies for the length... My company is abandoning a little used salary sacrifice scheme to which few employees joined and 'replaced' it with a glitzy new scheme well advertised to all…
Have we got too many pensions
Hi my partner has about 3 pensions (1 is an AVC), 2 has nothing going into them , one is when he contracted out of SERPS. Should he put them all together in his works pension or would he lose out on admin fees etc... I also have two pensions also (one contracted out of SERPS) nothing is going into them as i am not able to…
who will manage my pension when I can't
I am in the middle of setting up a SIPP with Sippdeal with the intention of investing in dividend yielding shares. I will be taking drawdown on a % of the dividend yield and investing the rest into the SIPP. If I become too senile to manage it in the future or die and my wife isn't able to manage it who can/should I get to…
pension
Hi My daughter has just started work and is about to start paying into a pension she can afford £30 a month matched by her employer. so a total of £60. I have noticed in the paperwork the admin charges are £16 a month. this seems really excessive to me. Can anyone tell me if this is a normal charge? Any help will be much…
Salary cut - how much effect on pension?
I am facing an impending salary cut of around 10%. I am in a local govt pension scheme and contributions are about 12% of salary. If I work another 16 years, roughly how much would this pay cut reduce my pension. Can anyone advise?
What's my best option???
Hi I'm 30 just bought a house on shared ownership and now thinking about pensions and grown up things:) but I've been told don't touch pensions by a lot of people as they don't pay out, so I'm stuck in what to do what are my options to being prepared for the future??? Very confused and lost:mad:
NEST or Personal Pension
I been informed that in June I will be automatically enrolled into the NEST scheme. I already have a personal pension with Scottish Widows and the AMC is 0.7%. Would I be better opting out of NEST and increasing contributions into the SW pension? Or Would I be better off reducing my contributions in the SW pension and…
Weighing cigars
http://www.moneymarketing.co.uk/pensions/alan-lakey-an-enhanced-annuity-experience-to-forget/1065681.article Anyone else experienced this sort of shilly-shallying after getting an annuity quote ? I thought annuity quotations were "guaranteed".................
Existing Private Pension - New Company
Hi. I'm a little uninformed when it comes to pensions. I started paying into a private pension with Co-op about ten years ago as my company didn't offer one. I've now joined a new company who offer a pension with Scottish Widows which they'd contribute towards. I can't afford to pay into two schemes and want the best in…
Can i transfer my pension and take some money out?
Hi all,new to the forum and would like to no if anyone can help me please,I'm 34 years old with a private pension of around £8k,i was self employed but work has dried up and money is tight. I have spoke to many of these "pension companies" who say they can release cash for me from my pension? How do they do this as i have…
Income Drawdown question
when you enter income drawdown and your pension funds are in dividend paying shares, do the dividends form part of the pension pot or paid out on top of your annual drawdown income?

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Pensions, annuities & retirement planning

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