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Can I save enough to retire at 55 ish?
Hello I am trying to work out if I can retire at around 55-57. I currently have £64000 in my pension fund now and i put £768pm (this will increase by 5% per year) I want around 12-15k per year and would want 25% lump sum to live on while the rest of the money sat for around 10years so hoping for 120,000 Assuming Mortgage…
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New Series on Extreme Early Retirement
Hi Everyone, We've been contacted by a production company who are researching for a new series about people who have been able/will be able to retire as young as in their 30's. They are looking for people who, through clever investment, financial savviness or simply just living the "right" kind of lifestyle have managed to…
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Annuity Investment for an 85 year old - yes or no??
An 85 year old relative has been offered (by an 'independent' financial advisor) a SunLife 5-year Certain Single Annuity. My relative is considering a large up-front investment in this product on the basis of the returns. I'm very wary of this, so can anyone help with the following questions: 1. Is this a good idea given…
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Widow pension refund (I have no potential widow)??
I used to be a civil servant paying into the Classic pension scheme. I was told that part of my contributions would be refunded at retirement if I was not married and therefore the civil service wouldn't have to pay a pension to my widow if I died first. Anyway, I have left the civil service and transferred my pension to…
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secondary pension strategy
Having got a good handle on my pension strategy i thought i'd take a look at my OH and see if there are any tax advantages to shifting some investments her way. So she was fulltime teacher for 10 years and then supply for next 10 years. She has pretty much stopped teaching now and is a 'lady of leisure'. She has some…
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Advice on transfer into NHS pension scheme
Hi, I began my career in the NHS in 2002 and paid into the NHS scheme until I left in 2007. I then joined a non-NHS healthcare provider and paid into their scheme until last December when I rejoined the NHS and their pension scheme again (albeit the 2008 version I believe rather than the 1995 I was in previously?). I am 33…
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Stakeholder Pension: Company closed, what now?
Hi folks I was with a company several years ago, and contributed to a Stakeholder Pension Scheme. I left the company and the company itself is no longer in existence. It is the only pension I will have apart from the State Retirement Pension, but it needs adding to considerably to be worth anything when I retire in 12…
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Claim back National Insurance or stopping future payments / leaving Country
Hi, my brother has been working in the U.K for 16 years and will be leaving the country soon for a non E.U country. From what I can tell, they will not refund the money back and he will have to wait until his retirement age of 70 in another country! I will be leaving U.K for good in a few years and I guessing my retirement…
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Actual Annuity Percentage Rates
Just wondering if anyone can advise please. Without asking Aviva, is there anywhere I can see their actual annuity percentage rates? Are these published anywhere? In particular I want to find out when over the last 2 months their rates changed and what the rate was after each change. Thanks for any help.
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SSAS Pension advice
I would like to purchase a commercial property (about £45,000-£55,000) My total pension assets are around £15,000. I understand that I could borrow 50% of my pension pot, £7,500 giving me funds of £22,500 at my disposal, enough for a 40-50% stake in the property. My question is, would a commercial lender let me borrow 100%…
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State Pension reform - additional sum from deferment
I've deferred taking my state pension but am thinking of applying for it to come into payment soon. There will be the option of taking a lump sum or increasing the weekly pension. I realise that there are proposals for a single tier pension but cannot see what will happen if I now opt for the additional pension rather than…
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Help with early retirement plans??
I'm 42 and for the first time in my adult life I am debt free so have started thinking about my long term finances. I am a civil servant and currently have 25 service in and have no plans to leave. I live in rented property following the break up of my marriage so no savings / equity available there. My long term plans are…
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Under 55yrs pension fund less 18K early cash in?
I have a pension with Equitable Life (ha-ha!) They have sent me, on my request, a statement representing my with-profits adjusted financial amount. This is £15.5k. I started this policy in my early 20's and stopped when things went wrong at EQ. Due to my family circumstances, this would be of benefit now. What would be my…
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Pension calculation help to get me to 25k pa
Would really appreciate guidance on what is needed in terms of future investment by me to get me from my current position to my goal of circa 25k pa pension excluding state pensions. My wife and I spent yesterday looking at our spending patterns and determined - in todays money - that in order not to impact lifestyle too…
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Final Salary Pension Change Proposed
Company is proposing change to final salary pension as follows from next April: Current: Non contributory with pensionable pay limited to max 2% increase per year & benefits accruing at 1/60 for each year of service. Proposed: Non contributory with no pensionable pay increase in future but continued benefits accrued at…
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Is my pension strategy sound?
I am 38 and currently have. -A Frozen final salary one paying £6k a year inflation linked. -50k of contributions earned since leaving the FS company. Current employer pays 15% non contrib on basic (£6k) and I add to this with 15k a year through salary sacrifice. This is all benefiting from 40% back from the taxman (plus…
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Why pay a pension now
Hi all, think I am getting to the end of my tether re pension changes,been in employment all my life (48)now on £144 state pension ,ok live with that maybe accept change to streamline,now they say no widows pension,except previous accumulation. When auto enrolment was introduced I believed government were encouraging us to…
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Pension advice
I have an old Royal London pension which has about £14500 in it which I have never topped up. I also have an occupational pension which is a final salary scheme and earn about £45000. Should I seek to top up the Royal London pension, move it, cash it in? I am lucky in that I can afford to top up the Royal London if I go…
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30 years contributions completed
I attained 30 years National Insurance contributions several years ago and have continued to pay - am I wasting money now? Can I simply stop paying my voluntary contributions with no penalty to my full state pension?
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Using my pension to buy to let
I have got a very unusual request which I am not even sure is feasible. I'm 38 years old and as time goes on I'm becoming very pessimistic about stock markets in general. As a result, I am thinking of asking Aegon who manages my pension to use some of my pension pot to buy to let. As it happens I'min the process of selling…
