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Restarting Pension, which one from these two?
Hello, My wife who is 50 is going to restart paying into one of her private pensions. Although she doesn't earn enough to pay tax we can afford to put the maximum £2880 in so it's brought up to £3600 with tax relief. The first is a Marks & Spencer (now HSBC) with profits plan which charges 0.7% which is currently worth…
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company pensions
Hi I have a old company pension that has been dormant for about 5 years , I now work for a different company, and have joined their pension scheme. Would i be wise to move the dormant pension to my present one? The old pension is not being topped up at all .
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Confused over pension stuff.
I am 65 in July,I will get a state pension of around 167:00 per week,(According to Pension Forecast)I also 'opted out' of SERPS with a CO-Op pension policy,that is now worth £16,000,I can apparently take this as a lump sum,but will it be taxed?Will that extra lump sum affect my state pension?I am not sure what to do,the…
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Cashing small pension pot--Daily Mail
Hi Article in the mail today about new rules to allow small pension pots to be cashed in :j Great news, but does anyone have a better understanding of the proposed changes and how they will work? I have 3 such small pensions,one only pays £6 pm, and the other 2 are only a little better. The cash would be far more use to me…
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Receiving pension from teaching but self employed as a tutor
Can anyone give me some tax advice Please? In February I started receiving early retirement pension from teachers pensions. I finished teaching in schools in February 2011 and started self employment as a tutor in May 2012. I have receive,d a lump sum of 20000 which I purchased a new car for the business and some items for…
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Pension policy transferred to new provider
Friends Life bought AXA's pension business in June 2011 and my pension policy got transferred over to FL automatically. I have a letter at the time which included some FAQs, including: "I'm invested in AXA funds, do I have to change? No. You do not have to change any of your investment choices." I read this to mean that my…
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Any problems with this plan?
I'm going to open a SIPP to supplement a defined-contribution plan at work [I am aware that a PP is arguably cheaper]. I'm a HR taxpayer, and will make an initial lump sum (this tax year) then contributions of about £10k per year initially (monthly, rather than lump-sum), likely rising to £20k per year within a few years.…
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AVC Question
I am in a final salary scheme but also pay into the AVC option of the scheme If say I pay £24k over a period of say 2 years - which I equate with 40% tax allowance will equal £ 40k value into my AVC do i have to leave in for any 'period' as I would wish to do this say on the 18 months prior to retirement and then take all…
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Drawdown on Group pension
I want to start drawdown on my pension which is currently held in a group pension plan. The provider strongly prefers that I am advised when I am going into drawdown. I have started to talk to local IFAs (through unbiased) about this. I've had introductory meetings with a few with the aim of understanding my next steps and…
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Living in a house which has a deferred payment charge on it
We are currently renting a house which has a deferred payment charge on it from the local council. The charge was put on it as part of the deferred payment scheme for residential care for my husband's grandmother. The care home do not feel that she will be alive for much longer but my husband's parents (who have power of…
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Reduction in LTA and protection
(apologies if this has already been discussed: I searched first..and it is a bit lengthy...) A friend has received notification from their company pension dept that they should be aware of the reduction in LTA from £1.5million to £1.2 million and need to consider whether they should apply for 'fixed protection' 1. I was…
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I have no pension!!
Can anyone give me a little bit of advice? I am nearly 50 and only worked for about 12 years where I paid NI, this means that my state pension pot is very small and so will be the company pensions I paid into. I now work but do not pay NI or into a pension, should I put some cash into an annuity type thing to give me a…
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Fidelity Lower Charges
I just had a look at the Fidelity site, and it seems they have reduced their charges: * A flat Investor Fee of £45 per year * A Service Fee of 0.25% per year No mention of 0.35% until £500K etc, just a flat 0.25%. I have seen no announcement or mention of this change before?
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Transfer of company pension to SIPP
After spending a bit of time looking for an answer in the archive of this (amazing) forum, I am still not sure about the answer. Both my wife and I are paying a portion of our salary in a company pension scheme, that is matched 100% by my employer. I already know that I do not want to buy an annuity when I retire (in…
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Pension Fund - Ethical Funds & Start Up's
Hi, I work for a small business who are now only just introducing a pension fund due to the government's work based pension requirement. I have been advised that the pension provider is chosen by the employer and that I will have options regarding which funds I choose to invest in however they may be limited. As a…
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Hargreaves Lansdowne flash SIPP offer
Hi, They are offering over next 24 hours upto £1000 cash when you transfer in from other providers. Does anyone know how its calculated, I cant see it in the t&cs but I expect its based on a %. As I have about £40k in old personal pensions it may be worth doing as it may cover a couple of years charges & then could…
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Pension advice
Hi there, I've been trying to get up to speed on my current pension arrangements as I've been blindly paying not them randomly over the last few years and I'm now trying to evaluate the next best steps forward. Essentially, I've had three different company pensions all with the same provider over the last five years. In…
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Asked to cover cost of early retirement upfront! - help needed
Apologies if this has been covered already. I work for a national gov body and having been granted early flexi-retirement, have been asked that I pay an up front £25k before I can take my benefits to cover the cost to the pension fund of my early retirement. Surely this amount should be deducted from my pension benefits?…
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Threat to limit tax free lump sum on retirement
I took early retirement from BT in 2011 and intend to take my pension in 2017. I am fortunate to be a section B member (Defined Benefits) and as such anticipate an index linked pension plus lump sum. I note the speculation in the press regarding proposals to cap the amount that may be taken as a lump sum to £36k but am not…
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Personal Pension Charges
This has probably been discussed before so I apologise for asking the same thing again. I have been trying to find the total charges on my Aviva PP. As far as I am aware you have the annual fund charge - 0.7% to 0.4% dependent on fund value. The fund manager charge, dependent on whether it's an internal or external fund. I…
