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A small pension conundrum...
Sums has never been my strong point so the answer to this might be straightforward ! Consider two distinct groups of workers Group A and Group B. Both groups are members of the same DB Pension scheme. Group A had their pensionable salary frozen at the levels attained a certain time ago..lets say 6 years ago. The only…
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What would happen?
My friend is recently retired has some money in a SIPP as well as a recent pension pot in Standard Life. No pension has been taken on either pot due to the amount of tax already paid this year a decision has been made to not draw on either sum until the start of the new tax year. It is planned to pay the Standard Life sum…
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Can I afford to retire?
Not sure if this is the right board so feel free to move if it’s not! I’m 62, work full-time and have paid into a final salary pension scheme for 32 years, I would love to retire in the next 12 months if I can. I have a bit of my mortgage remaining but am doing my best to get rid of it but would probably pay off the last…
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Forensic Review Limited - Pension Transfer
This is a long shot! Back in 2011, my husband was contacted by Forensic Review offering £3k to transfer his frozen pension with a guaranteed 5% annual return. Sounded too good to be true so I hit the net. Couldn't find anything on the company so saw that as a good sign - problems usually hit the net before the news! We…
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Protected Tax Free Cash
Looking at the calculations for protected 'A day' tax free cash, it is feesable for the tax free cash to be over 100% of the fund value at retirement. Are there rules/provisions in place to limit TFC to 100% of FV at retirement?
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pension credit
Next year I will be of Pension Credit age and as I understand it no longer have to sign in at Jobcentre plus but what happens to my wife who is younger than me. Does she need to sign on to receive her NI contribution or does she get her NI automatically?
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What happens to your SERPS NI contributions if you leave your job?
About eleven years ago I started work at Barclaycard and joined their pension scheme, after five years I left Barclaycard and thought nothing further about it however it now occurs to me that for the last six years I have no idea what's been happening to my NI contributions and as I'm in the best paid job I've had to date…
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Sipp drawdown taxation
I have just converted a SIPP pension pot into flexible drawdown & have taken the 25% tax free amount. The remaining amount is £180k approx. I do not currently need any income this would provide. Due to our ages it is likely that my wife will live for a good few years after my death. If my wife inherited the remaining…
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Annuity Rates may be on the up
http://www.thisismoney.co.uk/money/pensions/article-1691893/Best-annuities-What-annuity-rates--Expert-predictions.html#axzz2KhNvEUlW
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Annuity purchase
So I am going to purchase an Annuity from one of the largestfriendly companies in the UK, How is this income protected? I understand money invested in a bank has a government protectedvalue should something happen to that bank. Is my money protected in the same way when purchasing annuities?
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Gender equalisation and guaranteed annuity rates
I have a pension plan with Phoenix that has a guaranteed annuity rate. I've recently been given an annuity quote of 94.2 at maturity. If I was male I would get 109.3. So am I correct in assuming that recent legislation equalising annuity rates by gender doesn't apply to GARs?
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Best SIPP for 70k pension pot.
Hello all, I have several personal pensions dotted around several companies, acquired during my working life. I have phoned up the individual companies asking how much I am paying in fees per year, and have acquired transfer values for them. Currently playing around 1% AMC in the different pensions. Total transfer value…
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Understanding State Pension Forecast Help
Just received my state pension forecast. The forecast is made up to April '12. It looks like I will get a pension of £122.38 in total, made up of £107.45 state pension and £14.93 Serps+GRB (never heard of GRB). I'm 49 y/o and have 31 years of contributions, I'm probably going to be working another 15/16 years. Couple of…
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Pension Wind Up - Mistakes
Hi, At the end of last year I was notified that a pension plan from a previous employer was being wound up and that there were 3 options. As I had only paid in a relatively small amount to this plan as it was near the beginning of my career I requested a quote for a short service refund. I was told I wasnt eligible for…
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MSE News: Government unveils £75,000 care bill cap
"Bills for long-term care in old age are to be capped at £75,000 in England, the Government has announced..." Read the full story: Government unveils £75,000 care bill cap Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Can Pru Change my Flexible Plan?
Hi there, I started a pension plan with Prudential one year ago through an FSA-registered independent financial advisor, on the understanding that the contributions were entirely flexible. I knew I'd be having time out of work to go to uni/have kids in the future and didn't want to be tied into a set monthly payment…
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Barclays pays back it's 40 year old £1 pa benefit at the amazing sum of £1 pa
Late last year I was informed by Barclays Pensions Admin. unit that my £1 pa pension entitlement, earned for a short time of employment at Barclays in 1969 is now payable at the rate of £1 pa. Just think £500 pa would have been an average wage in those days and now, according to some, the average wage is £25000. Simple…
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Section 32
When i left an employer through closure in 1991 i was advised to put my company pension into a section 32 which i did.A few years later it was found that i was mis sold that pension and was awarded a sum of money that went into the same insurance company's, by the purchase of another section 32 to run at the side of my…
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flaws with the opt in pension
are there any ?
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Is it worth it
Ive got a private pension where i pay 6% and my employer adds 20% Should i stick with that or sign up for the new opt in pension? i.e the opt in pension its free money i dont have to contribute anything? whats the flaws of the new opt in pension ? please advice colleagues at work think I have made the wrong decision
