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Historical info about Bonus rates
Hi very new to posting so please bear with me. I had an IFA advised me to cash in my Scottish Widows with profits Pension plan. Now offered redress by IFA for bad advice but in order to compare what they are offering with what my original pension plan would have offered I need the historical information about Scottish…
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old pension
i will be very grate full if someone can shed a light on this please. my father passed away last year at the age of 52. i been dealing with his financies . my mother who is divorced from my late father told me that my dad had a pension with a company which he worked for long long time may be 70s or 80s. any way it took me…
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PP vs SIPP
I will retire in 5 years time with a DB Pension that will be high enough to allow me to qualify for flexible drawdown when I take it. I have just inherited some money that is more than I expect to spend before I retire. So I an considering putting some of the cash into a PP, intending to draw down lump sums as income when…
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Pension deferral question
Have been looking at Martin's page re pension deferral and the graph seems to show you receive LESS by deferring. Is this because you would have to pay tax on the lump sum. Example after 5 years not deferred receive £25,500 but by deferring receive £19,200. Hopefully, someone can explain this to me. Thank you.
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Merging Local Government and NHS Pensions
I am now working for the NHS, following several years of working for Local Government. This means that I know have two separate pensions. Is it possible to merge the two pensions into one? If so, are there any penalties/anything else I should look out for? Thanks!
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Pension Levelling?
My OH has a deferred final salary scheme pension which is due to start paying out when he is 60 in September. He does not work and we do not receive any means tested benefits. The pension scheme offer what they call pension levelling which I understand to be they will top up the pension being paid with an amount equivalent…
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Transfered out of Fianl Salary Scheme
In September 1987 I was persuaded by Allied Dunbar to move my pension fund out of the Unilever final pension scheme into a With Profits insurance policy with Alba Life. I know that it's a long time ago but was I missold?
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Equitable Life Payment Scheme upon death???
Good afternoon , My Uncle recently passed away and it would appear that the payments due to him under the Equitable Life payment scheme will now not be paid in full to his estate. Instead it seems that the payments are now to be re-calculated up to the date of his death. I have had no dealings with or prior knowledge of…
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Large Pension Pot
Am I rite that if a person has a large pension pot of say £500K and they have a guaranteed £20K/yr pension that most people would go the flexible drawdown route?? (drip feeding the money out to keep below the 40% tax bracket) I see a lot of advantages, much more control, your money doesn't end up left with the pension…
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STP means loss of GMP inflation proofing
I am currently in receipt of an LGPS pension and am a contributing member of a FS scheme. As is usual both schemes are contracted out. My SPA is May 2016 which means I am just caught out by STP. The amount of AP I have is such that my Foundation Amount will be greater than the STP amount (the £144 at todays prices) so…
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Future pensions
I think the piece this week on pensions needs some more thought, so take me for instance, i have paid extra for 50 years (66) now, i get £153 instead of £110 ? rightfully so,UNDER THE RADAR in 2016 a proposed £145 across the board (yes it will happen) i have spoken to HM PENSIONS (got fobbed off) and my M.P. (no reply so…
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Sharing pension eligibility
My wife and I are both retired, both 64. She does not get the full state pension (missing years). I have 41 full years' entitlement. Can she claim additional years against my entitlement?
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Annuity v Income drawdown
Retiring at 65 (male) is there a trigger amount in a pension pot to dictate either drawdown or annuity?
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At a total loss!
I just don't understand pensions as I've never been exposed to them. I work for a small company so they do not run the government scheme. I'm 28 and need to start paying into one...any advise who I need to be talking to? Some people have said just open a savings account, I can be strict and not touch it but is that the…
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State pension boost
Does any one know if I can transfer part of my state pension entitlement ( I worked for 41 years) to my wife (who only has 30 years entitlement)? She already collects a reduced pension, and I am due to collect mine in September 2014. We both retired autumn 2013.
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Living in Italy, need to find a home for my uk pension pot
Hi all, I'm new, I have been trawling the net, spoke to many companies, and I'm hitting a brick wall!!!! My husband left his job before the 2 year safety net of protecting his pension, it's now sat in limbo, £8.5k with time running out to find it a new home, we live in Italy and although we have our own home in UK, we have…
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Pension credits??
Hi all, Wonder if anyone can tell me what a pension credit is exactly? I'm trying to find out if my OAP mother can get a new boiler on various schemes the government does but they require her be on pension credits. I'm confused as I thought pension credits were on top of the normal state pension so people that get pension…
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Tax due on a Small Pension Commutation payment
Hi, I just turned 60 and have started drawing my FS pension having taken a tax free lump sum (approx 12.5% of the scheme funds). The only other pension scheme I have (apart from State) is £1000 that I put in an HL Vantage SIPP (as cash). I was planning to add to this but never did. I have now got this repaid to me but I…
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Using SIPP contributions to offset partners income
I'm having difficulty getting the same answer twice from the Tax Credits helpline so I'm giving it a try here :) I'm registered as self-employed but have zero profit due to carer responsibilities, so my income amounts to £3107 solely from carers allowance. My partner is on £14000 and is using salary sacrifice (SMART) to…
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Opt out of auto enrollment
I have a stakeholder pension which I pay into via my employer. I am the only employee in this particular scheme. Everyone else is in a different scheme. With auto enrollment all employees including me will be auto enrolled into the main scheme. I am thinking of opting out asap after being auto enrolled and asking my…
