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28 year old partner has no pension, advice please
My 28 year old partner has no pension yet and her employer has no pension scheme for her to join. Can anyone recommend how she should get started with a pension please.
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PAYE code and tax relief
I have just received my 2013-14 PAYE code from HMRC and they have included an allowance for pension relief because I am a 40% taxpayer. However all my pension contributions (5% employer's pension scheme + 10% AVC) are taken at source before tax is calculated. So I don't understand why extra tax relief is being given since…
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A quick question about opting out and SERPS
I've just received my pensions statement from CIS - I opted out in around 1990 on the advice of the CIS salesmen even though I wasen't working at the time and haven't been earning enough to put any money in myself so the pot is only worth about 800 quid and £25 per year pension, and was opted back in when the government…
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Tax personal allowance and pensions
I was hit for a big tax bill from my 2011 12 year due to the reduction of personal allowance over 100k, and the PAYE coding notices I had being all out of phase.... Is it possible to avoid this by paying into a pension. And keeping my taxable pay below 100k?
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Pensions Pyramid scheme
This morning Martin Lewis was talking about pensions . I was shocked. Did he not know that UK pensions is a ponzi scheme. And that eventually it is a bumble that will burst. Is he a sellout. Then I bumped into his blog. He acknowledged that it is a ponzi scheme and is the best system we have. Sorry I cannot post the link…
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final salary shortfall.
hello, i have just received a letter about my closed final salary scheme, it closed in 2010, i have 25yrs in said scheme, but they are telling me that it has a £8,435,000 short fall, more and more colleagues are taking their pension early as they are frightened there might not be any money left in the pot, are they wise…
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Stakeholder pension
I wonder if someone could help. I left my previous employment at the start of June last year and took a reduced early pension from my final salary scheme. I am 55. I found other employment later in the year but have not been paying into any pension scheme. I am not eligible to join my company’s pension scheme until April…
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Sipp to claim back tax
My husband is shortly to be made redundant and part of his redundancy payment £18k falls into the 40% tax bracket. He does not intend to work anymore (aged 52.5 years) and intends to draw his occupational pension at 55. To try to claw the tax back. Is it a good idea to place £13k (+ tax back) in a sipp giving a total of…
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take lump sum or highr pension
Having read through (partially) this great site and some of the advice given i am impressed but cannot find the answer to my dilemma, so have registered and posted! I have found at least one reference to taking a lump sum from a final salary pension scheme - in general keep with pension if inflation linked as it is more…
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Is a company pension better than my SIPP?
Hi, I have a USS pension scheme (this is not a final salary scheme) which an amount automatically gets deducted from my pay packet each month. I also have a SIPP which is invested in some defensive funds. Someone told me it would be better to make additional voluntary contributions to my company pension rather than my…
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A small question about pensions.
I belong to the civil service pension scheme but I will be leaving soon. When I leave, will my pension be taxable and if so by how much ? Many thanks.
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Voluntary N I Contributions for the tax year 2006-07
I wish to pay voluntary NI contributions for 2006-07. Back in April 2009, the HMRC website said…. “If you reach State Pension age on or after 6 April 2010 and want to pay voluntary Class 2 or Class 3 National Insurance contributions for the 2006-07 tax year, you can do so at the original rates up to and including the final…
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Fidelity SIPP experiences
Hi - I'm about to select a SIPP provider, and wonder if people had any experiences, good or bad, with Fidelity. What appeals to me is their absolute cheapness. I just need execution-only, and will not buy individual shares or anything exotic, just cheap tracker funds. It looks like in that case, they're effectively free,…
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Moving from Drawdown to Flexible Drawdown
I am preparing myself to move my drawdown fund to flexible drawdown. I have been in drawdown for a number of years and am content with the results. My fund is with Friends Life, Bristol, who bought it from Winterthur/AXA last year. Friends life do not do flexible drawdown and have no plans to do so. I am therefore looking…
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L&G pension...
hi all, i have an L&G pension, with online access, ive been paying in for years... just noticed over the past few weeks/months that it seems to have jumped up quiet considerably (compared to how it use to move) has something happend in the 'market' recently for it to be jumping or do pensions work on a 'snowball' basis…
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Drawdown and recycling
I would very much appreciate any advice on this question. I may be about to be made redundant at the end of April and if so I could take my work pension at that point early and unreduced instead of a redundancy payout, and that would be much the best deal. The question is 'how much would I be allowed to pay into my SIPP in…
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pension loans
is it possible to borrow against my pension
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What do I do with a frozen pension plan?
Hi, I contracted out of SERPS when I started a new job in 1988. My payments (plus other incentives at the time) were paid into a Norwich Union Personal Pension (Av with Profit Guaranteed). I have never paid any additional contributions into it and, after recently ringing Aviva, I have been informed that no further…
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Delays at Future Pension Centre?
Hi there, I applied for a pension forecast over the phone to the Future Pension Centre on about 15th Jan (22 days ago). They were quoting a turnround time of 'within 10 days' when I called. I haven't heard anything from them yet. I'm guessing that they are busy because they'll have had a lot of new enquiries following the…
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Too old to start a new pension???
Hi, I've just left HM Forces (age 45) and am lucky enough to be receiving a pension of approx £17K, which should rise to £25 when I reach 55. I've been lucky enough to find full-time work and am debating whether to join the new company's pension scheme. They will match a maximum of 4% of my current salary, and I can afford…
