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Paying pension money care home no POA
Uncle paying care home fees for his dads dementia home ( they lived together until the care home move 12 months ago. They are always in order, but he knows he does not do it the correct way, the state pension is paid to his account no problem.With no POA he has no access to his dads bank account, for which he needs access…
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Personal Pension
I'm still dithering about getting a pension, but if I take out a pension with a well known company, do I have to stick with it forever? Also, if I decide to only put in £100 a month for now, can I increase this at a later date? Also, when it comes to the time when I'm retiring (not for another 30 years or so), can I take…
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Over 60's Concessionary Travel.
The concessionary travel scheme for over 60's is currently under threat of extinction. According to the Local Government Association (LGA) in England, funding for the scheme has decreased by ONE THIRD since 2010 although central Government claim the scheme is adequately funded. In Wales, the scheme is funded by the Welsh…
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Retiring in 3 months: what to do with pension pot?
My Dad is retiring in May and I keen to offer him help in making the right financial decisions if I can. My Mum is already retired and without a pension. My Dad was a gardener and paid in as much as he could through his working life to accumulate a pension pot of around £100K. Their mortgage is paid off. What is the…
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Triviality rule
Does the triviality rule apply to each pension or the sum of your pensions? My wife has a couple of small pensions but I'm thinking of contributing to a stakeholder pension to either build her pension up to her personal allowance limit or utilise the triviality rule. Am I also right in thinking that when you get the state…
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Do I have to have a Pension Advisor???
I need to set up a pension and was wondering if I have to set it up via an Advisor. I recently spoke with an Advisor but then was dismayed to see that at the end of my plan my pot would be worth £273,000 but I would only get £200,000 and they would get £73,000. The Pension is with Scottish Life. Can I cut out the middle…
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Will I pay tax on deferred pension+earnings
I have deferred my pension for one year and will start to receive it later this year. I have been earnt £3600 over the past year. I understood I would receive the pension as a lump sum - but heard that it may be taxable. Together with my earnings the total will be around £9,600 - pension will be around £6000 and earnings…
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Transferring out of Equitable Life -- what to consider
My wife has a number of pension pots with Equitable Life from a couple of company pensions to which she no longer contributes. I am trying to figure out whether she ought to transfer out or not, but I don't think I understand what the EL pensions (might) provide. She has two with-profits pots and one unit-linked one.…
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TPS Questions
I'm now reasonably happy about my pension provision, now time to look at my wifes. My wife is 51 y/o and has been a Teacher for 11 years, she is in the TPS scheme. She recently had a pension statement and her normal pension age is shown as 60 y/o. The statement says that at 60 she is looking at a pension of approx - £7K…
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living in France & have property in UK do I need 2 wills?
Hi - I have a house in France which I own with my spouse - this is where we reside. We have 2 properties in the UK which we own but let out for income. We have 2 children between us & there is 1 other child by a previous marriage What is the best way forward with regard to wills - will 1 suffice or do I need 2? Any advise…
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Pension value calculation for LTA
I am somewhat confused having seen conflicting advise regarding of the pension valuation for LTA purposes - specifically as to whether the value is now or the projected value when I retire or crystallise. I am trying to assess whether I need to worry about the Fixed Protection looming deadline. I am 46 and have a deferred…
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Help-Pension Advice
Folks, first time poster and looking for advice on my pensions. 1. I have a armed forces pension that will be index linked in 5 years time, I am currently drawing £8250 a year, does any one know roughly its worth in five years. I am aware it is in line with CPI.Just looking for a ball park figure? 2.At this time I will be…
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My reducing pension pot
Hi I recently reached retirement age and my small private pension (£23,000 and falling) with a prudent insurance company was available for me to take as an annuity on 1/2/14. Unfortunately I was not at home during this period and I didn't arrive home until 21/2/14. I asked the ins co. to re-quote. When it arrived the total…
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Private pension transfer via Cavendish Online
Hi I have a private pension through Scottish Widows. This was previously a company pension scheme, which (after redundancy) I now pay directly to retaining a 0.7% AMC. The pension adviser has not been in touch with me for any annual review since this switch (approx 2 years ago) despite previously having 6 month reviews…
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Advice re. nursing costs
Hi, My Grandmother has asked me to accompany her to see a solicitor to plan a new will. She owns her home and receives a state pension as well as my deceased grandfather's occupational pension. Although currently fit and well, she wants to make her own plans for should this not be the case in later life, and wants to try…
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Aegon AVC - what to do??
Statement arrived today so I'm looking for some views please. I took out the plan in 1992 at £25 per month, and has stayed the same since then! In my defence I am in the NHS 1995 scheme and I will retire in 2017 at 60 with 40/80ths having bought back a year and a half service and have been topping up my pension this way…
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ill health retirement due to depression
For the last 5 years I have received an ill health pension due to depression and anxiety. The depression was caused by stress at work in relation to the security of my job. I was threatened with redundancy but managed to find myself an alternative role. I was out of my depth in the new role which was in a specialised…
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Is this right? Only £123 a week state pension?
Colleague turns 65 in June. He has worked full time since 17 (1966) without any gaps paying full nic, and has just received info that his state pension will be around 120 - 123 a week. Is this right? He thought it would be around 150 as an acquaintance gets that. He believed he'd have maximum entitlement. He may now defer…
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National insurance
I am a 60 year old woman due to get my state pension at 65. I am planning to retire on my teachers pension before then as I can take that. Do I have to pay NI if I no longer work?
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self assessment fine
really need some advice please. my dad has received a £100 fine for not returning his self assessment back so today I've rang the HMRC and explained that due to a serious stroke he is unable to talk, write, read, walk, feed himself or even wipe his own backside plus he is terminal with stomach cancer but they just don't…
