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They're taking away all my pension!
I've been married for 41 years, and have just found out that I won't be getting any pension at all. I am 58 now, but have unusual circumstances. I married at 17, worked full time from the age of 15 till marriage, but moved too far from my job to stay. I then worked for 5 months, but had to leave to have my first child. As…
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Aviva pension vs SIPP
I'm going to restart payments to a pension after having moved jobs. My existing pension is (or was) a group policy with Aviva with a reduced "annual fund charge" of 0.4% (reduced from 0.9% for being a group policy). I called and they confirmed that commission payments to the company IFA that set up the policy will be…
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What type of trust?
Hi I would like to create a trust for my two very young children, now as opposed to when I die. I would like to make them beneficiaries of the property that I own. My first question is what type of trust would it be a bare trust or a living trust? Secondly could I be the trustee? Is it best to have two trustees in case of…
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Is £144 pw the maximum State Pension
If you pay NI for the required 35 qualifying years I will get the flat £144 pw State Pension. Is there any way to increase the State Pension by paying more NI or paying for more than 35 years? Or will any extra NI payments count for nothing or State Pension be reduced if you have a personal pension as well (which I do).…
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Are the young losing all faith in pensions?
Just lurking around various posts on pensions only.(forget property,investments and isas etc) the vast majority of posters here are in final stages of pension so to speak.do you think this is pretty representative of the pension position of most people these days? I was pretty lucky to have received some guidance from a co…
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Pension at 55 or best to wait?
A friend was self employed and is closing their business and plans to use income from various savings and investments to make end meet. They are nearly 55 and have a personal pension. Should they start drawing it, or would it be better to postpone drawing it for longer if they can make ends meet without it? I have…
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Best deferred bond
I have £12,000 in a freinds life deferred investment bond I have held since 1992. It has done very well. I now have a further £15-20k to invest and have contacted fl who advise I can add to the bond with no charges and even convert it to an income later if I want . Would you advise this is a good medium risk place to…
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annuity who to choose
Hi, i know all about comparison site etc but can anyone say if when going for annuity will i get better deal from going direct to Prudential or taking deal from comparison site who might suggest Prudential as their best deal. Thanks
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Transfering pensions and preserving benefits
Last June i left a company whose pension scheme is part of the railway pension. I started a new job with a new company whose pension also a railway pension....I should be able to transfer my pension but having a problem. The railway pension state they need a letter from my old company. an 'application to preserve benefits'…
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Surely this can't be right...?
Sorry if this has been asked before - I did look! I have just spoken to the Pensions Service. My 65th birthday is on 15th May. They have sent me a letter telling me what my state pension will be - from 17th May. I phoned to ask why I was losing over £50 for the 15th and 16th. "Oh, that's because we pay on a Friday". "So,…
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More pension questions
Hello, back again with some more questions please. Hopefully someone will know the answer(s)! Main pension - I have a deferred final salary pension that covers a period of employment from 1983 to 1999. Part of the pension is GMP that applied during some of those years. Small Additional Pension - I have one other pension…
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What does the forum think is a sensible rate of return to use for pension planning?
SO my pension statement arrives and I think they illustrate what my pension pot would be worth (in terms of an index linked annuity) with a 5% (down from 7%?) annual investment return until my retirement date. I tend to recalculate this using a 2% real return to get a feel of the likely spending power in today's terms…
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Qrops
I left the UK some time ago and do not plan to come back. I get lots of adverts about QROPS aimed at expats claiming to 'save £s!!!' and that for British expats there are tax advantages on the pension draw downs and death benefits. Can anyone explain in simple terms exactly what these benefits really are?
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Contribution total vs. net - stupid questions
What's the difference between the net contribution and the total? I pay £256 per month from my bank account (it's a personal pension, so no company contribution). This is listed on the scheme as the net contribution. But the total contribution is listed on the scheme as £320. So who pays the extra £64 to my pension…
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pension after death of spouse
My husband died. He had cashed in a small personal pension a few years ago from Winterhur was still paying him a pensin of £200 a year not much I know but what happens to it now does it just stop?
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Pension Transfer Questions
Hi, I have just been enrolled in the automatic Pension at my company. Now around 4.5 years ago I had a private pension with my old company through Scottish Widow. So I enquired about transfering this into my new pension and was told it would cost me £250, is this the normal rate? I am assuming though that my only options…
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Do I have to buy an anuity or income drawdown?
I have been reading about pensions and what I have read seems to say this: 1. You can access your pension pot from age 55 or older. 2. You can can only take out 25% as cash to invest it as you want. The rest must buy an anuity or income drawdown (DD). 3. Once chosen the annuity cannot be changed or undone. 4. Apart from…
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54 going on 55
I was here a couple of months ago stating that it looked as if I was going to be made redundant 3 months short of my 55th birthday. I am now in the position in that my employer (I am in the LGPS) has found work to take me up to my 55th although this means working away from home for the duration I'm gonna have to bite the…
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Is it worth starting a s/emp pension at 59
I am a 59 (soon to be 60) year old woman, been self employed for about 2 years and receive a small occupational pension (about 3,700 per year). Is it worth me starting a self-employed pension scheme, and if so any idea what would be the best options to explore.
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Pension changes - can someone explain?
http://www.bbc.co.uk/news/uk-22423878 Can someone explain how this will work please? I was born in 1960 and will qualify for a full old age pension when I retire (I've worked just about continuously since 1978) and will work until I retire at (currently) 67. My husband does not work and hasn't paid any NI contributions. I…
