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Pension fund ideas
Hi all, Under 30 and due to start having to pick funds for my pension with new advisor. There's a list below of the basic funds I'm looking at - I'd like to balance out higher-fee managed funds with low-fee trackers. Also, I'd maybe like to diversify to include some sort of gold/property etc as I don't think that's really…
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Advice needed re The People's Pension
Hi, my husband works for a national retailing company and is being asked to join their pension as part of the new guidelines re auto enrolment. If he decides to join, it will be The People's Pension who will be looking after the employee's pension money. Do people have any opinions about The People's Pension? Our concerns…
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private pesnion vs new pension
Hi, My employer has opted colleagues into the new pension scheme just want some help to make sure I am in the best scheme. Ok I am part of the old scheme (Private pension) pension scheme 1 I put in 3% my employer adds another 17% I put in another 3% my employer matches that also. Pension scheme 2 is the new one that all…
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Can I cash in my funds in my Drawdown policy?
Hello, Looking at my statement from a previous Windsor Life pension plan, now managed by ReAssure, it appears I have two policies. One being Personal Pension Unitised (£26,000), and the other being Drawdown (£12,000). I understand that I am taking small annual payments from my Drawdown policy. Is it possible to take this…
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three months short
I am currently in the LGPS which I have paid into for almost 35yrs, unfortunately as it stands I will be made redundant on June30th which is three months short of my 55th birthday when with my employers permission I would be able to take my pension. From June30th i will be paid 6mths pay in lieu of notice what chance do I…
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Tax & Pensions jungle
I have recently changed jobs in the last year and now contribute to a company pension scheme. During the last job I contributed and still contribute to a private pension scheme. I have been a 40% tax payer during these periods. I have now been informed that as I now contribute to a company pension the private pension…
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Section 32 sudden change in GMP
Hi, I have a "Section 32 buy-out plan" with a provider that was the result of a transfer from my employer's final salary scheme (20yrs), around 16yrs ago. For several years I have received "updates" from the pension company advising me, effectively, that the Government have told the pension company that this plan must…
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Deprivation of assets for 80+ year old
I have a question about what Mum can do with an unexpected windfall - as she is about to inherit around £70,000! This is from my late Dad who, although they'd lived separately for over 20 years, had never actually divorced or made it a legal separation, so she is the only legal beneificiary! Despite my Dad wanting the…
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Pension for a child
I'm looking at options for providing for my childs future. As I started my pension fund quite late on and am having to put 14% of my salary into it to hopefully provide a suitable retirement, it seems logical to me to give my child a kick start in this area. I've looked at the junior ISA's but the risk here is that at 18…
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How much to pay into my pension to avoid 40% tax
Hi All, Could someone kindly let me know how much I should add to my pension pot to avoid getting hit with HR tax for 2012-13. The figures are like this: PAYE income 7488 BIK (co. car) 1530 (this is the cash equivalent amount) Net dividend income 34625 no tax paid via paye. I am looking to keep out of the 40% tax rate and…
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help-what does this mean
Been doing some sorting out today and found this letter --can anyone tell me what it means and what I can do with it ,ie can I cash it in or transfer it .I will give a bit of a financial breakdown about myself after the letter , this is from AVIVA dated sept 2011 This is a replacment policy from a terminated defined…
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Evaluating Annuity vs Drawdown
These forums naturally contain threads which:* discuss the pros and cons of annuities vs drawdowns * the optimal timing for taking one of the above * the annuity options (JL, RPI etc) * the setup/advice cost re a drawdown. Within an environment where the following will vary:* the personal taxation of the individual * the…
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pensions - is there an alternative?
as soon as i started working i was sent loads of information about contributing to a pension, employer would also contribute etc. first of all i don't even want to think about retiring at this age, and secondly, it all sounds so complicated! why couldn't i just put money aside myself into a savings account, every month?…
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Parents have no savings!
Hello just want some advice really. My parents are just over 60 and 1 works full time and another part time. They have no mortage and are renting a flat for £800 a month. They have not saved into a pension and so once retired they will only recieve the state pension which will barely cover the rent. This is causing me,…
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Will my Final Salary pension suffer a NI shortfall?
Hi, after the new State Pension proposals I am a little unsure how it will affect my situation and I wonder if anyone has any answers. I took early retirement from my job with BT last March aged 57, having spent 39 years with the company. Therefore I will not qualify for a State Pension until sometime after 2020. However…
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Lower earnings - top up
I am sorry if this has been asked before or sounds like a silly question. Pensions arent my strong point, My partner who is 35, had his hours reduced at work last June. Because of this he doesnt earn enough to pay tax or national insurance. Should he be topping up his national insurance contributions for his pension? He…
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Pensions transfer advice
Can you please help - I have been advised by my previous employer that having left the company with less than 2 years service I am entitled to a refund of my pensions contributions or transfer the pension value to another scheme etc I have recenlty taken early retirement and drawing an occupational pensions - this other…
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Pension Transfers - The Mechanics?
There are a number of threads dealing with Transfers. But is anyone able to advise me on the actual mechanics involved. I have 3 funds and am likely to transfer all to a single provider. For example Pension Fund Manager 1 has invested my contributions in Unitised Tracker Funds A and B. The Chosen provider offers/proposes…
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umbrella pension trust
Is there anybody out there who has sucessfully completed a pension restructure via an umbrella pension trust? Please dont confuse this with a pension release/loan. There is some bad press associated with this process but as yet I can find no evidence of anybody not getting what they expected.
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Social care cap 'to be set at £75,000'
Elderly people in England will not have to pay more than £75,000 for long-term social care after 2017, the health secretary is expected to say on Monday. The cost of any care above that amount would be paid for by the state The figure is much higher than that recommended by a 2011 review, which said any cap should be set…
