-
Taking Pension early
I have worked for Royal Mail for 27 years and am 56 in September. Most of my pension up untl 2008 has been protected due to Gvt intervention etc. Would it be beneficial to me to take this early despite still being employed and take the percentage reduction or would I be best to wait until I'm sixty?
-
What Pension Plan
I am 25, and want to start a pension. But have no idea where to start! My employer is not contributing so it would just be my contributions. I am looking to invest between £50-£100 a month into a plan. Can anyone help me with regards to who is best or which to go about? Thanks
-
IFA obligations under RDR
If an IFA that you have used before 1 Jan 2013 sells you a pension product without discussing his charges for that product (he just assumes that the previous initial charge plus trail commission is OK), is he in breach of regulations? If so, what advice would you give regarding making a complaint to his company or the FCA?
-
Incorrect Pension advice
Earlier this year my husband was told by his HR dept that he could cash in his current pension and transfer to the new pension scheme that had been up and running for a couple of years. There had been approx 20 staff that had already completed this process in 2012, and so We filled out forms to make an inquiry, which we…
-
Taking a small pension pot as a lump sum
Hi I'm trying to help my mum with her pension arrangements. She recently applied to take her pension scheme from her last job prior to retirement (part time job) with the max lump sum (around £2000) and a £320 a year pension. She completed the other forms telling them she had a pension from RBS (worth around 50K) and a…
-
Early-Retirement Advice
Hi All, I’m a some-timelurker but don’t have a great head for figures and I’m looking for some adviceand/or comments on early-retirement. I’m taking early retirement in September (at age 56.5) and I’m lucky to have a final salary pension scheme. There are two main options under consideration:- 1. Take pension in September…
-
Are some major scheme providers struggling?
I have a pension fund with a major insurance company. I am about to write to the CEO. They have a UK-based call centre and everyone is very polite and uses the right meet and greet words. I keep a manual record of my (Lifestyle) plan value. A few weeks ago I noticed that some of my plan had been transferred to another…
-
S.32 Plan Options
My husband has a 'Norwich Transfer Plan 32' dated May 1989. He reaches his 65th birthday in December. He already has pensions in payment well in excess of £20,000 and the income this policy adds is not material and would be taxed at 40%. Ideally he would like to be able to draw down the full pension fund over 2 tax years…
-
When will I get my claim letter for State Pension?
Hi, I reach the State Pension age on 6th November 2013. The Pension web site says that I should have a claim letter 4 months before the pension date. I am nearing the 3 months to go date now. Any idea when the letters are sent out? I have just had a pension statement from them this week with all the details but still no…
-
Tax Free Cash ... need to justify?
I am close to crystallising an occupational defined contributions scheme. As per most schemes it has always been advertised with the option to take up to 25% of the fund as tax free cash at this point. Nothing I have read to date has indicated to me that this is anything other than an automatic right. I heard today that I…
-
Quick question
A relative could do with a lump sum from her old Pension, she worked for the Pru, long left. Can she keep the 75% remainder invested as she is only 55?
-
Pension advice needed
Hi all I am a 37 year old woman who started my first 'proper' job at 28. I paid into a LGPS at Westminster Council for 2 years and then left leaving my payments still in the scheme and went to a housing association where due to personal events clouding my judgement I made the mistake of not joining the pension scheme for…
-
With profits terminal bonus
I know I am probably asking the impossible - but can anyone explain in simple terms the following: - I have a Prudential AVC from an old employment, with no contributions since 2000. Over the years it has increased, although the terminal bonus obviously went down significantly in the crash in 2008. However, I have just got…
-
13% non-contributory pension - cash or contribution?
Bit of background...our organisation pays a 13% non-contributory pension. I'm 43 and have been in the plan for just over 3 years. Total payments amount to circa £18,000 to date. I used the pensions 'estimator' on the pension provider's website to estimate my pension at age 65 (assuming current pension contributions stay…
-
Minimising Pension Charges/Overheads
We have a SIPP invested (via an IFA) with SippCentre. The IFA is doubling their charges (to 1% on top of the fund charges) this year. They don't appear to be actively managing the fund, or at least the funds haven't changed for the three years since it was first transferred in. Is this reasonable, and are there any…
-
Transfer from previous employer
I was in my previous pension scheme (USS final salary scheme) for just over two years. Now I have a Civil Service pension (Nuvos career average) since last summer. What would people advise in this situation? I could re-enter USS final salary if I get a university job within the next year but this is unlikely. It doubt I…
-
Bit of a tricky one me thinks
Hi There, New to this forum so please forgive this newbie. I could use some advice and a good friend suggested I try here. In a nutshell, my wife and I are separated and going to be looking to start divorce proceedings soon. I have two work place pensions on the go at the moment from two different providers. One has about…
-
Pension transfer!with minimal running cost
Hello, I need some advise about a pension fund transfer and I was wondering if someone would be willing to help me? I have recently left my employer and therefore I have to transfer my pension plan to another pension scheme. My aim was to transfer my pension fund overseas, but it is not possible due some recent legislation…
-
Limited Company Pension Options
Some may recall that I transferred my Zurich Executive Pension Plan to MetLife late last year. Since then we have no pension scheme in place which is both foolhardy and, I believe, soon to be unlawful so we are looking to set something up. A stakeholder plan seems the most straightforward solution but I was wondering if…
-
Police Pension income
I've recently divorced from my exOH. He has past his 50th birthday so I am currently receiving 50% of his benefit income, plus I have 50% of the CETV when he turns 60 and we have a 50/50 pension sharing order. In the meantime, I have to pay for an insurance policy in case he snuffs it before he is 60, otherwise I will lose…
