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Leaving before 2 yrs
is it still the same if you leave an e'er/scheme... ie, you get your conts back, less tax relief ?
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14 months from SIPP drawdown - which provider??
I retired early last year (aged 53), but can't start drawdown on my SIPP until April 2015. In the meantime I'm shopping around for the most cost-effective SIPP provider(s) for my circumstances, and was wondering whether anyone was in a similar position and could offer any suggestions? I currently have a SIPP with…
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NI record vs Pension forecast
Hello I have a bit of a dilemma. Basically I have asked to hmrc for a copy of my National Insurance record. The copy says that I have 15 qualifying years but with limited NI contributions which can be topped up in 3 of those years (the average contribution being around £15 per year). I also have a pension forecast which…
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Do I have to accept this annuity
From and old job (decades ago), I have an annuity already, dated 1994. It comes from from a firm which has now closed down and the pension scheme wound up. I start to get the benefit in a year's time. Not a huge amount but welcome nonetheless As of 1994 it is 500odd pa 5% escalation. (Clerical Medical) Do I have any…
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Pension income outside of tax/means test
Hi All - new the forum though been reading for some time and would love your opinions on my concern. I do wonder if i need to plan to have some financial assets that do not count as income that i can use when i retire. I am 58 and am pretty concerned that by the time i get my OAP that it could be further means tested as…
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Wasn't much point enrolling in NEST
Hi all I feel a bit frustrated. I thought when Nest came out it was going to 'mop up' all us folk who've not paid into pensions for a while and it what I also thought (but I think now it's clear, I thought wrong), was that no matter where I worked, I'd be able to keep paying into the Nest pension. That was in fact really…
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Pension held abroad
I lived and worked in Switzerland for 11 years and have a pension pot held by a Swiss bank. I have been told I cannot touch this pot unless I become self employed. Is there any way I can have this transferred to a pension pot in the UK as I will never go back to live or work in Switzerland again?
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Which IRA?
Hey everyone. I am 28 years old, and I just switched jobs, and my new job has no retirement program. I converted the 401k from my previous job to an IRA - part of it is in traditional (~$38,000) and part of it is in Roth (~$3,000). I was told (by a Fidelity rep) that I should probably convert my traditional portion to Roth…
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national insurance stamps
is it worth paying national insurance stamps when working abroad to add to your pension years.can you still build up your pension years when working another eu country
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What does GMP mean on pension statement
Hi, A relative of mine is shortly to retire (he is 60) and has recently received a pension statement. It says he has a Total Scheme Pension of approx £15,000 pa. It also mentions a Post 1988 Guaranteed Minimum Pension (GMP) of approx £2,000 pa. Confusingly there are two GMP figures on the statement - but only a few pounds…
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Old Pension from job years ago...
Found on here something about any old pensions you may have had and are dormant. I filled everything out and got a letter from the pension tracing team. I need to complete some paperwork. But any money in the pension for me (over 10 years ago) do i get it in cash for myself or does it go elsewhere?
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pension and Annuities
Am am new to all the above and just wanted advise I think I have 5 plans the are all Pension plans which I have frozen due one or other and wish to know if what is been discussed will affect them as have not moved from the company for years but have seem my original company taken over by the big boys
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Final Salary Pension Schemes Merge
I worked for a company that had a final salary pension scheme and the wording regarding increases after retirement was based around the premise that the level of an annual increase was at the discretion of the board of trustees. However they never failed to pay an increase and they were broadly in line with inflation. This…
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Personal Pension Scheme - too old?
Hi all, I am posting on behalf of my MIL2B. She is 52 at the moment, and has no idea about money. She has no savings whatsoever, and no house (she rents). She does have a pension scheme through work - she is a HCA. She has worked part time for the past five years, but is about to start full-time. Given that she'll receive…
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Pension/Salary Sacrifice/Student Loans
Thought I would ask the experts to check my reasoning. My work offers a pension which is a 10% contribution from them regardless of what I contribute (even 0). I can, though, pay in if I wish, and through salary sacrifice this would save me 20% tax and 12% national insurance (they do not give me their national insurance…
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Poor practice at all annuity comparison sites
The FCA investigated the thirteen annuity price comparison sites that cover most of the market and found that all of them had poor practice and twelve of the thirteen did not meet its "fair, true and not misleading" core requirement. For more about this see: FCA finds 'poor practice' on all annuity price comparison…
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LGPS - changes to employer discretions
Hello all, I'm in the LGPS and I'm trying to find out what happens to the employer discretions when the pension rules change in April. Employers have an obligation to publish their discretionary policies on various things e.g. redundancy etc. My employer's current policy is to award extra years on being made redundant…
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NHS Pension - Part Time Work
I've a family member who has asked me to sense check an idea they have. Currently they're working part-time and contributing to the 1995 scheme. They reckon that if they go full-time in one of the final 3 years of employment their pension will be based on a full time rather than part time wage. As I read it the scheme…
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Advice on Equity Release for Mum with Mild Dementia?
I would love some feedback on the subject of equity release. My dear mum has mild dementia, but is still relatively independent, and does not believe that she has any mental health issues. She lives alone, in her own property, which is worth approximately £250k. She lives on a basic pension, supplemented by a regular,…
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Need to get my pensions in order
Hello Approaching 60 and need to get my pensions in order About 6 weeks ago the Sunday Mail did an article on pensions and at the end of the article gave a contact (web or phone ?) for independent free advice regards pensions. I had meant to keep the article and get in touch with who ever it was but a prolonged 'senior…
