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Civil Service pension scheme
Hi, I have been in classic scheme for 24years but it will be frozen in 2015. I have a choice of paying into a new one or opting out. The new one will allegedly be in 1/43, but if I retire or cannot continue in my current role up until the extended retirement age of 68 I will be deducted 5% for each year short of that new…
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Annuity
I've recently taken more interest in my pension policies as I get nearer to retirement. I haven't paid into them for many years as I decided a long time ago to make my own provision in retirement. I've found I was sold a normal pension policy 30 yrs ago but when I decided to take out a second pension policy I was sold an…
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New sticky
Can't say i am a huge fan of this one, as you ca't see if there are new posts easily. I do accept it was getting untidy at the top, but was at least user friendly.
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State Pension and voluntary NI contributions
My mum has applied for her state pension and has been told she has 25 years worth of NI contributions. She has not been working or claiming any state benefits since 2005. I've had a look at the HMRC website but find it all a bit confusing. I assume she can pay voluntary NI contributions (I understand you can go back as far…
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Transferring to SIPP
I wonder if anyone would care to give me some advice. I am 58 and have a personal pension that has been frozen for 10 years. The pot is worth around £48K. That pot has grown around 5% annually for the last 3 years. I was wondering if I might do better transferring the funds to a SIPP, and managing the investment myself. My…
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MSE News: Pensions firms face competition probe over annuities
"The FCA is to investigate the annuities market amid concerns it's depriving many pensioners of a fair retirement..." Read the full story: Pensions firms face competition probe over annuities 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 New to…
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Beckmanns liabilities - redundant early retirement under TUPE
I am being transferred under TUPE at work from an employer with a defined benefit scheme (USS) to an employer with a defined contribution scheme on a one year temporary contract. I am 57. I believe my access to my USS pension actuarially unreduced on future redundancy will transfer with me as long as Beckmanns liabilities…
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Opting in during postponement period
My employer postponed auto enrolment (as allowed by law) until the start of next month 01/03/2014. I was only just informed I have a right to opt in during the is period - but I'm told that since I've already been payed for this month its not possible. I was informed of the postponement some time ago. Should I have been…
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Pensions, Annuities & Retirement Planning Board Sticky
Hifolks This is the new Pensions, Annuities & Retirement Planning Board Sticky where links to all current important threads will be kept. ISAs v Pensions: The Official Retirement Debate (Note - The ISA thread has some out of date information on it which gets addressed later in the thread. The thread has been running since…
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I Work in Payroll...
..and had a two hour briefing on AE today. Crikey the government are really making this difficult for everyone. i don't even know if i will opt out or not.
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Too late for AVC with LGPF?
Am I too late to set up a AVC for my final few years to get some cash savings when I retire? I am 56, hoping to retire at 60, though could stay on till 61. I've got 33 years LGP so far. Would there be so many set up fees/early exit charges and not enough time to recoup? I did have a small AVC about 15 years ago which i…
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Can I run a SIPP alongside my LGPS pension?
Hi, I'm considering getting a SIPP and just paying a small amount into it each month to help with retirement, and take advantage of the tax free benefits, however, I already have a pension running through the LGPS - can I have both? It's probably a silly question and I cannot see anything stating that I can't, but…
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Pension transfer advice
I have been trying to transfer my Local Government Pension into a SIPP. This process has been going on for nearly a year and despite having a previous meeting with an IFA, my advisors now say that the FSA rules have changed and I need to get clearance again by an IFA, and that this will cost 5% of my pension pot. I am…
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Serps missing?
I was told by my insurance company that I cancelled my serps when I signed it over to them back in 88 or 89 I never signed any paperwork to the contrary to say I did cancel it and had no idea it had been cancelled. So basically what happened to my serps if it was cancelled? :(
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ill health pension forms
ok I got dismissed as "unfit for duty" a year ago. Want to try to claim a tiny private pension I have. Have got the forms to pass onto my GP but Phoenix say they dont pay the costs the GP might charge for filling in the forms. How much do GPs usually charge? tia :)
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Civil Service - Early Retirement and New Scheme in 2015
I am hoping that someone here will maybe have done some research or be aware of the changes due to occur to the Civil Service Pension Scheme in 2015. I will fall into the interim category where there is a tapering off in the old scheme beyond April 2015 but I'm not sure what exactly that means. I am a member of the clasic…
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AVC to Low Cost SIPP for DIY Flexible Drawdown
I currently have a Group AVC with Standard Life valued at 80k that I would like to move on retirement into a SIPP in order to begin flexible drawdown. After taking the 25% lump sum, I will be probably investing mostly in funds and not shares and do not anticipate making more than a couple of trades a year withdrawing 4-5%…
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Pension help!
I am new to the forum and wondered if anyone was able to offer some advice. I am 61 this year living alone in a retirement rented flat, and have unfortunately for many years been in employment where no pension provision was in place. I do have a very small pension from another job i had a long time ago but it this is…
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What am I, pensioner or unemployed ?
Hello all a rather confusing Title but I am sure you will understand what I saying as your read on. In August 2014 I had had enough of employer shipping jobs overseas so I decided to leave and take voluntary redundancy plus, as I am over 55, early retirement. I used the money I got to purchase a property, which my wife and…
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Enrolment optout options
When my company was bought some years ago a couple of us moved to the new company but kept our previous Standard Life pension scheme. This has been paid into with no issues until now, I have been informed that I have to be enrolled into the companies main pension provider but I can opt out. My questions are, If I opt out…
