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Pensions, annuities & retirement planning

Archives for May 2013

Adviser charges for a Group Personal Pension Plan
Hi I am wondering if anyone can tell me if there is a legal responsibility or way in which an adviser should declare his fees or charges? My employer has used an adviser to set up a GPP and I received a letter this morning with an information pack and individual illustration. It was a complete shock to read he is charging…
Tax payable on Small private pension whilst still working
Can anyone tell me how I can find out how much I should be taxed on a small private pension I have started receiving during last year. HMRC have now told me I must pay 40% on the pension which seems excessive! Can anyone tell me where I can check this out.
avc refunds?
started avc contributions with my employer but this was cancelled after 18 months. could anyone tell me if I am entitled to a refund of my money with it being under 2 years.
Lump sum from pension
I have a company pension. In January I saw the company pensions adviser and was told that I could take my pension as a lump sum - a triviality payment. I decided to do this as it would mean I could pay my mortgage off and retire. I duly completed all the forms that were given to me and decided to retire on 3 May which I…
Don't understand all this pension stuff
Surely I'm not the only person who doesnt understand pensions? I took out a personal pension plan in 1996 because I was advised to start something but was unable to join the company scheme due to being a temporary worker. In 2004 I stopped paying anything into it because my financial circumstances changed for the worse.…
The Milky Bars Are On Me!!!!!!!!!
Just had my first full monthly pension for the new tax year and am going to spend, spend, spend. With an extra 27p a week:j, I'm simply rolling in it and cant wait for 9am when the shops open. But what to buy, that's the problem.;)
Offshore Retirement Pension Plan?
I am a 32-year-old Brit, living in Canada. I have moved around a lot over the years and so have accumulated various pension schemes: * UK state pension * European Union institutions pension from working in Brussels, Belgium for a while * Prudential Group Pension Plan from working at the BBC in the UK I am currently not…
SIPS Selling Out - What do I do?
Hi all, I have a pension with the Shipbuilders Industries Pension Scheme (SIPS). They are having a trustee buyout with Standard Life. They are giving me 4 options: 1) Go with Standard Life whom will initially put the money into a Standard Life Strategic Lifestyle Passive Pension Plus Pension Fund IV with charges at 0.42%…
Recommended SIPP Pension
Hi there, I want to look into getting a SIPP pension so I can manage funds online and take a personal interest in the SIPP. Whilst I can find general information on SIPPs, there are some I cannot find. These are: 1) How do I know what level of fund choice I have in particular SIPPs? For example, can I just choose…
NHS Pension CETV Calculation
I have requested my NHS pension CETV for divorce purposes in early May but I haven't heard back from them yet and my stbx is getting irritated as it is holding up our financial settlement. I started it on bottom band 5 in Jan 2001 and I'm now mid point band 6 and I have always worked full time. Can anybody estimate a…
Is it worth transfering old pension pot over?
++ I've started a job within the Local Council and have been automatically enrolled into the LGPS and I have about 6 years worth of pension contributions from a previous scheme (with Avia) which I have looked at moving across. I've received the notification back from our pension dept and they say that my previous pot is…
Please help clarify...
Hi all, I am a new member so go lightly! Anyway my mother is eligble next year to take one of my dad's pensions ( They divorced then re- married to avoid inheritance tax) She will get about a big lump sum ( tax free) and £4000 a month. Question 1 ) Is the monthly sum taxable ? if so what is the percentage? question 2) if…
Lost £5.5k due to miscalculation by Aviava - where is my money? how do i get it back?
I've recently transferred my private pension into my company pension. The difference between the transfer quote & the amount transferred was OVER £5000 however I have not benefited from this - my new pension value or 'time bought' has not increased. My company pension providers are telling me that as it is within 7.5% (its…
IFA with a straw in my pension fund
I became a self-employed contractor about 18 months ago so I decided to start up a private pension. I did a bit of my own research and then went to see an IFA for some advice because I really didn't want to !!!! this up. The IFA's remuneration for setting up this pension was 30% of the regular premiums paid into my pension…
Help with small pension - should it be transferred
My Wife worked part time for a number of years and has the following in that pension - Fund Value today of 7277.31, projected fund of 12700. She now works for the council and has been told she would benefit to the sum of 2 years and 2says transfer credit if she transferred She is 42 now - which is the better of the two…
How safe is my company CIS Stakeholder Pension?
I'm in the fortunate position of having some cash with which I could make a sizable AVC, which my pension fund could definitely do with, but I had a worrying thought. I know if my money's in a bank, then it's protected, but what about my pension? I know the Coop's having an 'interesting' time, and I know that they're not…
Are pensions one big rip-off?
Hello, I've just received my yearly pension statement (paying in 18%, about £8000 a year - 50/50 with companey). It says at current rate my pot will be worth £405,000 at retirement. Searching for annuities the best I can find with spouse gives £10,000. This means I won't get anywhere near my money back unless I live to…
National Insurance Contributions
Hi everyone. I am a 25 year old living in Northern Ireland. I do not work due to my mental disabilities. I wanted to ask a question about National Insurance Contributions & Pensions. Do you need to pay National Insurance Contributions to get a Pension when you get older or do you still get a Pension even if you haven't…
Teacher's Pension Lump Sum
Hi Everyone. I paid into the teachers' pension scheme for about 10 years and have a sum of approx £30,000 which I was advised by my divorce solicitor that I could claim when I was 55. The TP site said the same when I phoned them . However, when I rang them to arrange the transfer, I was told that I couldn't claim the sum…
Pension/Annuity Death Benefit
I've posted this in the Death, Funerals and Probate section, but I thought there might be some more knowledgeable people in this section? I am in the process of sorting out all my father's paperwork (he died last month). He had a private pension annuity, does anyone know if there would be any kind of death benefit for…

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