Pensions, annuities & retirement planning

Archives for July 2013

Purchased Life Annuity Calculation
Just wondering if anyone can help? Is there a calculator to project income from a Purchased Life Annuity? For example a pension pot of £100,000. Take lump sum of £25,000 and use this for a Purchased Life Annuity and purchase a standard annuity with the £75,000. The £75,000 is easy to find projected income results using…
Drawdown death benefits - income
We have a situation which me and my Wife cant easily find a solution. My Wifes Brother has recently passed away at the age of 53. He has a drawdown plan smallish about 30K, tax free cash taken but no income,my Wife is the executor of his estate and has a mutual dependency with the brother to sort his affairs after his…
To NEST or not to NEST
Hi, Sorry to piggy back off this last post but I have a similar question. I'm 32 and don't have a pension and it is keeping me awake at night. I am a Freelancer and although I usually am in work, for the last 10 years I have taken a few breaks (to go travelling and have a baby). The company I frequently work for has been…
Cashing in or borrowing against offshore pension
I have a pension from my previous employee sitting in a trust in Jersey. It was set up before the changes to offshore pension rules in 2006 at which point it was closed to new members and new contributions. I will soon be 46 and the plan rules state I an entitled to cash out the pension at 50. The investments currently…
What are my options with my existing pension pots?
Hello Wondered what your thoughts were..... I have signed up to some company pension schemes in the past on the basis the my employer would match my contributions. I've since moved on and have left these a bit dormant over the years. I have a current final salary scheme. I'm 27 and I'm wondering if I could make my previous…
Was I give bad advice to opt out of the state pension
Hi, I know this is a question asked alot but in the very early 90's I was advised to opt out of the state pension. I was very young at the time & trusted the person ( family friend ) to guide me. I am now approaching 40 with 2 children. I am a stay at home mum, but I am now worried that my private pension wont amount to…
Advice please!!
I earn (part time civil servant) £630 per month. When I retire at 62 (next year) I'll receive about £510 oap. The pension from civil service will be negligable as I've been there only 5 years since redundancy. I have @ £65000 in isas and @ £85000 in other savings. I would like to get a monthly income from my money but...…
advice please
Hiya I am a self employed bod and soon want to retire. My guy who did tax forms retired a few years ago and since died so can't ask him. My wife has spoke with pension company and discussed various things about what I pay in and in what the money is invested. One thing she asked about was when does the tax go into the…
Should I stay or should I go?
Hi all, I’m in a bit of a quandary and could do with some impartial comment and advice! For various reasons I’m really unhappy at work and am considering packing it in. I’m very lucky in as much as I have savings and will be able to access a pension at 60 (I’m currently 54). As far as I know I have enough contributions to…
pension winding up
Hi all, I have lurked around these forums for a while but really need some advise. I have a small pension with a company I worked for from 2002 to 2010 which is now winding up the scheme. They have given me 3 options - basically take the cash [approx. £8500 after tax], transfer it to a buyout plan with Standard life or…
nhs pension contributions
Hi does anyone know what happens if you leave the NHS with less than one year of paying towards the pension. Are you able to request to have the money back or does it follow you to your next employment / do the nhs transfer it?
Taking 25% from my pension pot
I turn 55 this year in October. Can I take 25% out then? I know it drops the pension down if I do as my offer to take VR is a reduced pension of £15,860 and lump sum of £129,500. I would expect my pension to be slightly higher due to paying in still. I have the option the take VR but may not take it up but would look at…
Pensions /Married or Singles Allowance?
We've lived together but not married, since 1986. Would we get the married couples pension or would it be a single pension for each of us?
LGPS transfer in - advice please
Hello, hope one of the forum's LGPS experts can help me with this one. I am (belatedly) transferring in a substantial pot from a non-club scheme which I left in 1996 (my current employer has exercised its discretion to allow me to do this). I have been in LGPS continuously since 1997. This pot will buy service in LGPS; the…
Advice Please
Background. I am 59 and have a pension in payment from the Armed Forces, which I left in 2008. I have been working for a company which put 6% of my wages in a pension pot which is now worth 17K. They are now offering me the opportunity to put 0% of my money into this pot with them contributing 1% and to take an extra 6% in…
What to do now.
Before I continue ,I know it is time to see an Ifa and get a proper handle on things.(should have did this years ago) Age 47 ,earnings £39714 +ot £6000. Final salary scheme 2/3 Employer pays 11% me 8% Also pay avc £95.49 weekly ,this can be taken as part of lump sum. I have been with them for 21 years and also had the…
Maximum tax free cash available on an 80th accrual scheme
I'm a USS scheme member which has retirement benefits of an 80ths accrual pension and an additional cash benefit of 3N/80. I also have a money purchase pension pot that I pay AVCs into. I'm trying to project what amount of my AVC pot I will be to take as tax free cash given that the tax free cash limit is 25% of the…
Financial advisors new charges
I got a new pension out a few years ago via a financial advisor. The person is very good and provides an annual review but I have been told by them that due to new regulations there may be charges in the future. When I got the policy I was told I didn't have to pay any charges as they were paid by the company. Has anyone…
Pension performance 3.75%
My husband has just received his pension statement saying the value of his fund has grown by 3.75% in the last 9 months taking into account monthly contributions. I have no idea if this is OK or if he is just wasting his money. Does anyone know what growth he should expect from a pension?
Pension advice needed
I am a 37 year old woman who started my first 'proper' job at 30 and paid into a LGPS for 2 years then moved jobs leaving the payments in the scheme. Due to personal problems clouding my judgement I choose initally not to enrol in the pension scheme at my new workplace. I am now a member for just over a year contributing…

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