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private pension
hello I had a a private pension from British gas and 20 years ago I was disabled and was able to take the pension by cashing in a part of it and receiving £3.00 a month indefinitely I have now past retirement age and the £3.00 a month is causing more problems than its worth with my benefits, is there any way I can cash the…
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Newly self employed - where do I start?
Hi there! I'm recently self employed. Up to this point I've been contributing to company pension schemes. Now I want to make sure I continue pension savings but have no clue how to work out whether a pension is any good or not. Any top tips please?
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budget pension is this right?
ok as i understand it i will be 56 next feb. and have 2 pensions i dont cont.to in total they will have a value of about 30k. i can take 25% i.e. 7.5k i can take the other 75% 22.5k less 20% income tax (i`m not a tax payer but assume the 22.5k one off would make me one in that year?) is this broadly correct? cheers
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MSE News: Budget 2014: Radical reforms to give greater access to pensions savings
"Pension savers will have the option to gain immediate access to their pot at non-punitive rates from age 55" Read the full story: Budget 2014: Radical reforms to give greater access to pensions savings 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…
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Transfer 32 Pension
My husband has a plan with Aviva from a previous employer pension. He has just retired and we have enquired about releasing the funds in the plan but received a lot of jargon about Guaranteed Minimum Pension. With the new budget rules can he now withdraw the funds in a lump sum? Sorry if it's an obvious question Pensions…
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A question about a pension pot
I'm not to sure what I should be asking here so forgive me if I get some of my termanology wrong. My sister has asked me to do this post Sister is now approaching retirement, she works for the Education Department in Northern Ireland. With the exception of a few years break she has been working there since her twenties.…
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Residential care. What happens after death?
Hi, As my parent's home exceeds the£23,250 means tested limit of residential care support and we never did anygifting, trusts etc, the family home will be sold to raise money for their carehome. [*]Is it always possible to arrange to deferre payment until their deaths or is this for the council to decide? [*]Do the…
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NIC 3A rates?
I've been hunting through the published stuff and haven't seen anything in the budget documents. Has anyone seen any actual NIC3A rates by age yet? I may have took a false hint that they were being firmed up. Thanks.
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Should I buy annuity with AVC following budget?
I a just about to sign up to take my annuity from my AVC, but having seen the budget i'm not sure what the pros and cons are of going ahead or waiting for the new rules to come in. I have a main pension that meets my needs, which is index linked, so my AVC is just for extra income. The pot is fairly small, £40,000, and I…
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How do I change my IFA
For over 25 years I've had the same IFA. They aren't very local to me now and not very proactive, I wouldn't hear from them from one year to the next if it wasn't for me contacting them occasionally when I want something doing. I've met a local IFA through my business that I'd like to transfer to. What do I need to do to…
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National Insurance 3A pension boost costs - any news in the budget?
I did not hear any reference in the budget to the details of the new National Insurance 3A prices that will allow existing and pre April 2016 (new single tier) pension qualifiers to boost their SP. Did I miss this? It was said in a few places this was likely to be in the budget as it was announced in January and said then…
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Private pension impact on tax code
If the monthly payment of an occupational pension is taxed at source, would there be any impact on tax code/personal allowance if total earnings per annum, including the pension, remains within the 20% taxcode bracket? Thank you
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What does the Chancellors pension revolution mean for us?
Just announced in the budget, the need to no longer purchase an annuity. This is big. Reason I never invested much in my pension was my dislike of the annuity compulsion. Anyone know what he said about when you can encash your pension?
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Early retirement
Hi I'm totally confused at moment. I applied for early retirement last year didn't get it but have been offered it this year. But only have 4 days to decide. Reckon I'll go as have health problems ,chronic ,but would not get health retirement as it's episodic in nature. Anyway due to health I dropped down to0.8 working…
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Need to start something asap
So I'm 34 and have no pension and know I need to get cracking on something. Must admit I'm geting depressed about the whole thing and scared I've left it too long. Say I'm on £40k a year which equates to £3,333 per month before tax and NI. If I pay in 5% and my company pays in 5% am I correct that my 5% (166.66) is taken…
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Shall I join company pension?
I have run my own business for 5 of the last 7 years and haven't contributed to a private pension during this time. Prior to this I worked for the local authority and have a small final salary pension I can take in 8 years. The company I work for now have written to me today to say that they are enrolling me in the pension…
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New lifetime allowance
This is very early days for me but I wanted to get your opinion on this. Since the lifetime allowance has now changed to 1.25m, I want your opinion as to whether or not I should start putting money into sipp. I'm on NHS work pension which is a defined benefit. The pension calculation works such that your final pension…
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AMC for Aviva Stakeholder Pension
Looking to start my first pension, and was attracted by the low advertised rate of a stakeholder pension at Aviva. According to Cavendish, the annual management charge is 0.55% for funds at my starting level (<£50k) when applied for online - but when I go direct to Aviva (which should cost the same according to Cavendish -…
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SIPP restrictions
Hi, Could anyone tell me whether there is any restriction on which stocks I can invest in if I choose to go the SIPP "DIY" route with my pension? jg123
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Pension Tax Relief
I have a full time job and I pay tax via PAYE. I have also recently taken on a consultancy second job earning about 20k pa. I'll do a self assessment to pay tax on the second job and it will all be taxable at the higher rate. If I start a private pension and pay in 6k pa, then when would be the approximate amount I should…
