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NICs
My wife became eligible for her state pension last September. As she continued in employment she deferred the pension. She obtained a certificate to give to her employer so that they would no longer deduct NICs from her salary. There was a delay and some 4 months elapsed before the deductions were ended. This left an over…
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Pension Advise
I am 60 years old and I have pension plans. During the last few years the values have decreased. Would it be best to cash them in now before they loose any more value or just sit and wait for the market to recover.
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Tracking 'old' pensions?
Hello, I was recently contacted by a company called we find any pension dot com. The told me I had requested info from somewhere however, I have no recollection? They say they offer 'free' and 'no obligation' advice about finding lost pension pots. I think I have most of the details of the several companies/pots that I've…
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Mis sold Life Insurance
Is it possible to claim for miss sold life insurance? My Mother Banks with Lloyds TSB and was called in some years ago to review her account. She asked if she could pay more into a small pension she had going with Lloyds. She was told yes and increased her payments. On retirement age she contacted Lloyds as she had not…
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How to Increase my Annuity
I asked the following question the other day I have been thinking about this for a while now and can not find the answer. What would prevent me from saying I smoke over 10 cigarettes a day to increase my a Pension Annuity, when I don’t smoke. and a lot of you Neanderthals who replied got the question completely wrong. I do…
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Standard lifetime allowance
I have just received my P60 from my BT pension. On it is has this at the bottom and says 0.00%. it then says this only applies to ex employees whose pension commenced after 06/04/2006 ( which mine did not) Last year i had a policy mature at 65 which, stated i had various options, one IIRC was to take it as a lump sum ( it…
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Equitable Life Guaranteed Annuity. Take the cash?
I am fast approaching 65 and need to decide what option to take on a pension plan. This is with Equitable Life, but (luckily for me) it is one of their Guaranteed Annuity Plans. If I take the full pension it is £720 per month, increasing 3% annually and with a 57% spouses pension. Or I could take £45k tax free cash which…
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Flexible Drawdown
Hi, This is my first post so please be gentle ! My question is this - lets say you have a final salary pension from a previous employer that provides a retirement income of £20k and an occupational pension with your current employer that you are paying into. Let's also assume you are a higher rate tax payer. My…
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Pension Review Line
Hi I have received a couple of calls from the "pension review line" apparently a free service to help review your current pension on how it's performing and giving advice by an ifa? Has anyone had any dealings? I'm reluctant as I have no idea about pensions and don't want to sign up to anything. They say no obligation but…
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MyIFA friend and Rowanmoor
Hi All, My OH was contacted via phone by MyIFAFriend about a pension review. They advised looking at a SIPP with Rowanmoor. I was just wondering if anybody knows much about these companies as in are they legitimate. He has been paying into a Prudential pension for many years so doesn't want to make any rash decisions. Any…
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Virgin Money Pension
HI All, Im 18 and in full time employment, I would like to start a pension but have a few questions: If I start a personal pension with virgin money - personal pension and my work place start offering pensions can I switch at any time? If I ended up paying into a company pension and left the company does the pension come…
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Auto enrolment
I am 46 yrs old with no savings or pension plan.my employer has invited me to join the auto enrolment stakeholder pension plan.Is it too late to save for retirement via this method?I would like to retire at 65 before then if I can afford to.I complete paying my mortgage when I reach 55 and expect to save extra when this…
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Shopping around for an annuity............
http://www.dailymail.co.uk/money/pensions/article-2306438/The-day-delay-knocked-16k-Brians-pension.html "......The problem is major annuity providers such as Prudential guarantee their quotes only for 14 days. If finalising the deal takes longer than this, savers can be offered a new quote, particularly if rates have…
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Projection question
I recently asked my IFA for a projection for when I’m 65, I now 50 y/o. My total plan values of 3 plans is £112,000. The total contribution into 1 of the plans is £500/month, there are no contributions into the other 2 plans. The projection states a pension total plan value of £223,200 giving me a pension of £7590/yr in…
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Worried I'm not doing enough, or the right thing!
Afternoon all. I often worry that I'm not putting enough away for retirement. I also know that what I do put away is not necessarily being put in the correct places. Just wanted to put some figures on here to see what people thought. Before I give a bit more info, I do want to state that I'm aware that there are no…
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State pension increase for wife when I reach 65?
Next month I turn 65 and have filled out forms that have been sent including a p161 yesterday. I know what I shall get (albeit it £2+ less per week than the forecast I got a month ago) but wondered whether my wife will get a notification about an increase for her. She has been receiving a modest £38-ish per week and should…
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Final Salary Pension - Is it legal to withdraw it?
Having been with Sainsbury's for over 25 years and being a member of the Final Salary scheme for pension I was advised by the company that the scheme is going to cease shortly and there is nothing I can do. This is despite the notification a few years ago that to secure the scheme I had to increase my contributions to the…
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Pension Sharing Order - Advice needed
I agreed a pension sharing order with my ex wife which gave her a percentage of my company pension, this was part of a consent order sealed by the courts last year. I recently enquired of my pension department as to why I had not been advised of this order being implemented and was told that they were waiting for my ex to…
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What to do?
++ I have just started a new job (local authority) and I have automatically been entered into the pension scheme - which is fine. However, I have a small pot of contributions (6 years worth) from a previous employer that are just sitting around and I'm not sure what to do with them or whether they just have to stay there.…
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To salary sacrifice or to not salary sacrifice...
I have just recieved the application forms for my new employers pension scheme which is a scheme I contribute 10% and they match it, but have a slight confusion with it, if anyone can help. I have the option to do "pay exchange" which is the system of sacrificing salary so it is paid directly into the pension, saving the…
