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Pensions and 25% tax free sum
I'm just coming up to 50, and have a mixture of deferred pensions. I also have a personal pension. I pay 40% tax. I was thinking about the 25% tax free lump sum which I can get from my personal pension. What's to stop me funding my personal pension between now and age 54 to the maximum allowed, with the aim of taking the…
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Combining pensions
Hello all. I have a company pension scheme and my own personal pension which I pay into as well. I have wondered about the wisdom of transferring one to the other. In order to get the most benefit any transfer would happen from my personal pension into my company pension scheme since I do not wish to lose the benefits of…
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Retirement planning starts now - where to start
Hi all, Apologies now if this gets long - I am wanting to plan now for retirement and am unsure if a totally pension based route is the best way to go, or to split future income between different investments. I am 29 and in (not quite) full time employment earning a very reasonable salary - not in the higher rate of tax…
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Will my pension rise with inflation if I stop paying in?
I work in the public sector and have a final-salary pension. However, if I left this sector (education) and then got a private pension obviously I'd stop paying into the state one. My question is this: Does the final salary rise with inflation between now and when I retire if I stop paying into it? For example, if I earned…
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Contracted Out & Flat Rate Pension
I am puzzled by all this news surrounding the proposed flat rate pension. I will reach state pension age in 2018 with a NI record of 31 years contracted out and around 8 years contracted in. I understand that the new proposed flat rate pension will be reduced for people who have been contracted out. Although the…
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Pension Credits
This may be old information I'm looking for but I'm a newbie so bear with me. I knew nothing about pension credits until I was directed to this site by my son; My situation: 62 years old and have had no income in the UK for 6 years Have been working on and off abroad, mostly in Australia Have an Australian bank account but…
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What to do with pension pot
Hi all I am new to this so please go easy if this has been asked before Maybe the answer is here and I don't know it, Any way I have a pension pot of about £130.000 after I take out the 25% Cash lump sum, Now I'm told an annuity will not pay very much at the moment. Question can I get the money out to buy a house to rent…
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short term personal pensions - worth it?
Hi all, Apologies if this is a double-post - I have checked a few other threads and they weren't quite the topic I was looking for. Feel free to merge if I'm wrong (and point me in the right direction!). Basically I'm in my mid 20s and have only just left full time education so have yet to have an employee/employer style…
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Annuity purchase problem!
I am 47 and retiring due to ill health, I have been approved for my post office pension so this is all settled. However I have 2 small funds with Aviva. There total value is just a shade under £20k. Apparently I can take 25% as a lump sum but no more because I am not going to die in the next 12 months. The remainder just…
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State Pension Contributions from Abroad
I am moving to Malaysia, having been travelling for the last few years and need to restart my state pension contributions. I have already paid 20 years of contributions and at my age (42) understand that I only need 30 years of contributions to be entitled to a full state pension when I retire. Some suggest that I can…
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Husbands pension ?? Transferring ?
Hello, My husband left a Company which had a good pension but he has only 8k in the pot, we have only 3 months to transfer this to another pension company or we lose the money. He is at another company now with no pension but what can he do about this one? He doesn't really want to pay money into a pension at the moment…
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Where are the missing 90 year olds?
We've already seen state pension retirement ages increase to between 66 and 68 with another rise touted at 70 because we are 'all living longer'. However, these projections have come into question when compared with real data http://www.bbc.co.uk/news/magazine-23126814 "Thousands of elderly people are missing. The last UK…
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salary pension exchange?
Hi all, just started a new job and although the company are not putting in any money for me for a pension scheme they have offered one which i am automatically enrolled into. As a part of that , they have offered me a salary exchange pension programme. now my understanding of that is that is I pay money from my gross into…
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MSE News: Government to ease restrictions on low-cost pensions
"Workers will find it easier to build up retirement pots, as the Government plans to ease rules on its pensions scheme..." Read the full story: Government to ease restrictions on low-cost pensions Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our…
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Dilemma
Hi I notice that some people suggest to put extra money that is not needed into additional pension constibutions (after maxing out ISAs). I am part of a public pension scheme so the advantages of paying more into it would be good however I do worry that in the decades to come the retirement age will slip further and…
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What should the government do?
What should the government do to control state pension costs? 1 - Increase the state pension age to 70 2 - Increase NI contributions to 15% 3 - Make the state pension fully means tested 4 - Increase basic rate income tax to 40% for all over 65s
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Calling zzz Lazy Daisy - help please
Would you be able to advise please on the "without prejudice" post on my "Disputed pension contributions" thread. Someone suggested you would know the answer but I don't see a PM facility on the forum to contact you. Many thanks.
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Long term disability payment from pension question
I'm early 40's and have been off work for over a year after my 10th operation. I was signed fit to work with exceptions (can't return to do my job I'm trained for) last year. Two separate surgeons have both recommended this. After 6 months my pension's illness policy kicked in and I am been paid 60% of my salary. I have…
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reclaim serps
i have been contacted by wefindanypension.com and have been informed that i may be able to claim back my serps pension has any one done this or heard of this claim,
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Sipp management fees
Hi there, I have a SIPP invested in Spanish property and it runs for 3 years. I am now in my third and final year and have to pay upfront fees to the company who have invested the money. They received my application form on 10th March 2011 and it took until 24th May 2011 to complete the final transfer from the old pensions…
