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Pension Booster
I have just had a call from a company offering a review of my pensions. I have agreed to give them information which they will pass to an FSA-regulated financial advisor. They claim that all advice will be free and without obligation. I didn't catch the name of the company but checking the phone number it's Pension Booster…
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IFA's - how does it work for me
I'm 47 now and never paid into a pension. I want to start now and am thinking of putting in about £400 per month. (maybe up to £500) I need to work out how I can get the most value from my investments. I have a fairly high tolerance of risk and so might be interested in some kind of investment funds. So far I looked at…
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Pension refund LGPS
Hello there Sorry if someone has already asked this question. I've recently beenemployed by a large public sector organisation. As part of the employment weare (supposed to be) automatically set up on a pension scheme which is throughthe LGPS. If we want to opt-out and get a refund it has to be within the first3 months of…
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Accurate Pension Calculator
Looking for a reasonably accurate pension calculator. I've looked at several HL, Pen Advisory, Std Life, Aviva and I'm getting very, very different results. Can anyone recommend one?
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Parents moving back together again
I hope someone can help us on this forum. My parents, aged 75 and 72 have been separated for many years and have each drawn down state pensions as single people. However, just recently, and much to the joy of all of us, they have patched their relationship and are considering living together again. The one issue that is…
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Elderly Parent needs financial advice
Hello My Mum is 80 years of age and disabled and in recent years I have been living with her at home to provide full time care. I am an only child and her sole heir. Although we hope my Mum will be around for many years to come she is concerned that when she passes away her finances are made as easy as possible for me to…
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Pensions confuse me - please help!
Hi this is the situation. My mum is 64, and works as a school administrator (40 years!!). She has recently been thinking about retiring ( but the thought of spending 24 / 7 with my dad seems a bit daunting). + She's a bit scared of making the wrong decision with regards to her pension. She's asked the school for advice on…
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Tax Free Lump Sum
At the moment you are allowed to take up to 25% of your pension pot tax free. It seems at every budget there are predictions that this arrangement might change. If a Chancellor were to announce a change how quickly could he bring it into effect?
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Thought he had a pension- turns out he hasn't.
Friend of mine works for a teaching agency and has done for a number of years. He thought they had sorted his teacher pension out but it turns out he has had one for the past 15 yrs. What does he do know??? :( my mum works for the same agency and hers is sorted. Who is at fault?
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Tax relief on pensions and and retirement annuity
Hi can anyone help. I have a personal pension and retirement annuity - two different polices. Following a conversation with HMRC tonight I think I may have been claiming tax releif for one of the polices that I should not be claiming. This dates back to around 1989 I think. I have asked my plan holder to confirm if I…
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free Advice on pensions
Dear All, I just wanted to share with you all my experience today with The Pensions Advisory Service. I have been trying to calculate what my approximate pension would be when I retire in 11 years and know there are quite a few like me who don't fully understand how this is done. It was a bit complicated due to…
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HMRC statement
I received a statement from HMRC which says that I have 27 qualifying years on the basis of my NI record. However, when I looked at the list of tax years there are three (of the 27) which are marked 'too late to pay'. Two of these years was when I was student. I assume that these 'too late to pay' years do not count as…
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ADVICE PLEASE on Investment Pension for Novice
Hi everyone, Hope you can please help - I am finding the pension annuity investment a minefield and as a novice don't know which way to turn. I have a very small personal pension fund of around £26K that is available to me this has come from a SSAS company fund that is now being wound up since the sale of the commercial…
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should I opt out of my final salary pension scheme???
Hi, I'm 33 years old and have been paying into my final salary pension (DB) for 8 years which was set up through the company that I work for. The company has now made an offer to all employees that they will pay us 50% of our core salary (paid over the course of 3 years and will be taxed) to opt out of the scheme and join…
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Can you buy annuities for cash?
The idea of a pension is to save up a pot of cash and then buy an annuity, I understand that but do you need to use a pension fund to buy them or can I purchase one with cash? I'll tell you my thinking :- I don't have a pension but I do have a house so if I was to sell the house for £100'000 for example I could put that…
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Previous pension or SIPP
Some advice please. A company I worked for went into liquidation last year. The pension scheme is fine and was kept up to date. Legal and General scheme. I worked for a new company for about 4 months and accumulated some pension benefit. This must be transfered in the next couple of months or it will be lost. The new…
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LGPS , AVCs and student finance
I would really appreciate any advice on whether the following is doable/ sensible. I have been in LGPS since 1992, am projected a pension of 15,000 at 61, and have a linked Prudential AVC account with v. little in it. I am trying to save enough to retire at aged 61, 4 years time. DD1 completed first degree in 2011 and is…
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parents retirement fund
Hi my dad ,well parents got some property back in 1987 ,they lived in the house and did next door up into flats my dad a small builder ,capital gains ,might be in wrong section but i looked first. they now are both retired and selling the flat roughly £115-125000 are we right that he will have to pay a third in tax after…
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Employer Contribution being paid in salary
I originally posted this on Tax Credits therad but have been advised to move it to Pensions: I took a job on 14k a year. When I went my induction I was told this included 5% pension contribution from my employer. They do not have a pension scheme set up , but pay the 5% so that employees can invest in a pension of their…
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State Pension Forecast - Up, down stay the same
My friend has retired at the age of 61, so no further payments being made into either state pension. In 2005 his forecast for state pension at 65 was £170 ish pound a week, his latest forecast is £ 210 ish. How much would you expect this to alter before pension age at 65? He will reach state pension age in 2006, prior to…
