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Can i take my company pension now
I am 70 years old and have a FSP with the company that i have been with for 30 years. My original company that my pension is with was sold to another company. I am still working for the company but my old company holds my FSP. Can i take my FSP and still work for the company.
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IFA charges reasonable?
Just in the process of sorting my pension and funds moved by a IFA. There is a £106k pot. I am being charged by the IFA 2% of the lump sum and the new £350 per month for the first year, plus an ongoing fee of 0.75% (including the first year). Then there is the SIPP charge. Does this sound reasonable?
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Closure of final salary pension
Hi.. My employer is considering the closure of our DB pension scheme completely which has various implications. However, the one that concerns me is as follows: Currently the DB scheme i contribute to has a death in service element which is very generous and based upon my current salary x 5. This is very important to me as…
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LGPS changes who has interpreted it the right way
so LGPS have announced changes, our office have 2 different ideas of how the change affects us: 1. pension built up before april 2014 will be on final salary then changes to CARE 2. if already joined before 04/14 pension will not change from final salary
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Drawdown query
Can someone kindly answer these points for me. 1. If I choose to convert my pension to capped drawdown, I assume that there is no option to secure a minimum payment period, say 10years, as is available for annuities? 2. I understand that on death, any funds remaining are subject to a tax of 55%. Does this still apply if…
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Pension Review Form Query
I have a been sent a pension review form and under Client Objectives there is an objective which I do not understand. It states: Less volatility (away from BM/EB) Would like more stability in growth. Concerned that factors affecting equities growth will not be positive. Giving a Yes/No reply option. What does BM/EB mean in…
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Morrison's Pension and HSBC Stakeholder.
Posting obo my son. He joined Morrison's Pension scheme last year, since then I have found out via this forum that it isn't a terribly good one for someone his age (almost 34) - don't quite understand why. Before that he was enrolled (via Morrisons) into a Stakeholder Pension with HSBC for a couple of years. We thought…
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Capita Tracing And Data Solutions!!
Hi I my 76yr old father has received a letter from Capita Friends Life claiming he may have a pensions policy with them from which benifits are payable. They want him to complete a a Verification Form, NI number, D.O.B, address and signature, return it and upon successful verification they will get incontact with him. I am…
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Help me understand my pension performance
I posted this a little while ago in the Saving and Investments board, but got no responses so I though this might be a more appropriate board. About 18 months ago I was enrolled into my workplace pension scheme. It's a mediocre scheme (I pay 1%, employer pays 2%) , but it's still free money so I'd be silly not to. What I'm…
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should I use an IFA
My OH and I (mainly I) have identified that we think she should switch her LGPS pension (2.5 yrs accrues at 15K) into a TPS pension (1 year contract @ 30K). What is the best way to do this - through her work, through the TPS or through an IFA. I have had advice from this forum before which suggests its a good idea, but I…
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Financial Planning/Financial Advice
Hi Group Went for an interview as a trainee Paraplanner (as i did not want to be in a sales position) at a local Financial Adviser/Financial Planning firm on wednesday this week, i was not sucessfull. I was working as a tied financial adviser up to 2006 with FPC Cemap bridge, longterm care and life time mortgage…
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Transfering Fire brigade pension to buy a property
Hello All, I have just joined the site and forum and was wondering if anyone could help me with my research. I am a serving fire fighter and am thinking of transferring my pension fund into a property. I am led to believe that we can only transfer this into a commercial property. I do not know how true this is as…
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Final salary pension frozen
If you are in a defined benefit final salary pension scheme which is to be frozen will a pension debit also be frozen at today's figure or will it continue to grow to (in this case) 25%? Or is this down to trustees of the pension scheme.
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can my 74 year old mother open a sipp?
Hi my mother is 74 and I am helping her organise her finances. She has over £50,000 invested in funds within an ISA with Hargreaves Lansdown. She will be 75 in February, and is receiving a pension (I'll have to check if it is a private or state pension). She has very little total income and so does not pay tax, she relies…
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lump sum pension payment
my husband is due his lump sum pension to be released to him early next year , can he have his cheque paid directly to my bank account as he has not got a bank account ,it is just in my name , thanks any help
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tax/savings strategies for AFTER retirement
So, having spend lost of time and effort over the past few years on how to build up a good pension, I suddenly realised that I haven't really given any thought to what i do with all the money after I retire. I'm around 5 years to early retirement around 55 and expect my pot to reach the £1.25M mark by then. Plus I have…
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At what point could DC pensions become pointless?
Just some thoughts on what changes could happen in future. You invest money, your boss pays in and you get tax relief and the stock market does well. You have a decent pot built up, let's say £100,000. You get full state pension and can take a £25k lump sum and an annuity of 6% on the balance. If the government changes…
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Pension for 26 year old, to pay or not to pay?
I have never really thought about paying into a pension before but with the new government pension scheme im unsure whether to start or not. My current employer has sent details through for pension scheme and i have some time now to opt out if i want to. Obviously need to start thinking about the future but i will be…
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Splitting tax code
I have a pension from a previous employer but am also still working Would it be better to split tax code between pension and salary allocate all tax code to work or pension OR does it not make any difference at all ? Thanks
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Confused over annuities
My question is that out of a pot of £80000 should i take my 25% (which i don't actually need to spend at the moment) so that I can reinvest it somewhere-where?) or keep the whole sum intact in order to get a better return? I am inclined to look at an invested annuity for the sum as level rates seem so low and I hope to…