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Scheme with normal retirement age of 60 refusing to pay deferred pension until 65
I am a deferred member of a non-contributory Defined Benefits Scheme and have been reading posts on here with great interest as I thought I should be entitled to a pension at sixty which was the Normal Retirement Age of the scheme at the time I became a deferred member. I was active in the scheme for six complete years…
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Pension Tax
Hi My parents who are in their 80's are thinking of starting a cash ISA. However they are concerned that interest from the ISA will mean that they have to much in the way of savings, pushing them above a threshold which would mean that they have to pay tax on their pension. I cant find what this threshold may be also I…
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Capita Oak Pension concerns
I have started this thread to everyone who may have been affected by the above. There seems to be an ever growing number of people who have recently posted on 'who calls me ' site, and this site may serve better as a central focus point.
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State pension forecast query
I am 65 (66 in June 2014) but have deferred claiming my state pension to date. I have a full NI contribution record as well as contributions under SERPS (until contracting out in 1987) and 42.5 Graduated Pension units. I got a State Pension forecast in May 2011 as follows:- Basic State Pension £102.15 Additional Pension…
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Contracted out and HRP
My wife contracted out of SERPs from the early 90s until 2005 ish but only actually worked for three years or so in the early 90s. The rest of the time, she was bringing up daughter, so on Home Responsibilities Protection. I have a nagging fear that HMG are going to calculate the foundation amount for flat rate state…
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Pension auto-enrollment
Hi all, Situation is as follows. We all had our meeting explaining what auto-enrollment is etc. We were then told that we would be provided with all of the details about how to un-enroll via e-mail within the next few days. This never came. I chased for the information but nothing was forthcoming. April's paycheck rolls…
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Transfer Staff Pension Scheme advice plse
Hi Guys, Could someone advise me please? I was working at Aviva for 18 months and have £11,195 in a pension pot. I would like to transfer this to continue contributing as i am working for myself now so my employer pension is no longer avialable. I tried to do this with Aviva they told me i had to go through a financial…
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Definition of insurance claim
deleted - wrong forum!
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Will everyone be notified of their foundation amount in 2016?
As title, really. Will everybody receive a notification after April 2016 which will tell them their foundation amount (for the single-tier state pension), plus details of how extra entitlement might be built up, or do we have to request this information ourselves after April 2016?
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Spanner in the Pot
I am 55 next month. I have a pension pot invested in bonds and equities with a current value of around £280,000. I also have a final salary pension that I can access when I am 62 that will pay me an income of approximately £13,000 per annum. I was made redundant last year following 25 years with my employer and have been…
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Budget a plan changer?
I was set to start taking income drawdown at my 58th birthday in June from half of my pension pot to give me an income and utilise my personal allowance as I have no other income having been made redundant last year. Following the dramatic announcements by GO in March, is there any value in delaying matters to see how…
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Care home fees and pension
My dad is in a care home, my mum lives in the family home which they own 50/50. Dad is privately funded and has been for the last 3 years - his savings are just coming down to the 23k threshold so have requested a financial assessment. My dad had a lump sum from his private pension and gets a monthly amount, is my mum…
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serps question
In 1993 i contracted out of serps, it is now with the Royal London, today i got a forcast telling me that when i retire in 2022 will be paid £606.50 per year..... can i take this money out now as a lump sum as with it being the old serps i am not sure ?....They have noted that the transfer value today is £10,631.58
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Class 2 NI Gaps question
I've just been looking over my (shocking) finances and trying to sort a few things out but I've got a question about my Class 2 NI gaps. I'm self employed and for various reasons including bad admin by me and living abroad for a time I've got a total of 7 years (I think) gap in my full class 2 NI contributions. Tax has…
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Requesting second transfer into Nuvos after first transfer rejected?
Thread title says it all really. As background, I've recently joined Nuvos and would quite like to transfer in my accumulated pension to date. Unfortunately I consolidated my pension into my previous employer's pension and Nuvos won't accept the transfer due to a technicality (my existing scheme can't / won't confirm that…
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employer paying less contributions to my pension
Hi my current employer has rolled out auto enrolment and as a result I have lost out. My employer bought the business and my old contract with it 13 years ago which consisted of 10% contributions paid by employer. I was informed 3months ago that from April he could no longer afford to contribute that amount and it was to…
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New Pension rules query
I contacted my Personal Pension plan people and asked them if I can take a 25% tax free lump sum. They said I could but I would have to buy an annuity with the remainder. I didn't want to do this, as I wanted to be able to take the other 75% next April. So the only option I had was to wait until next April when I can…
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Proportionality
Funny thing, I've just been reviewing the company pension proposal I received at the time just before I started drawing the pension. I was offered, and took, the 25% tax free allowance, but what I did not notice at the time was that the pension was reduced by much more than 25% as a consequence of taking the tax free…
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Transfer from Virgin pension?
Many years ago I thought I'd better do something about a pension towards my distant old age. A Virgin stakeholder looked easy. I paid in £300 a month and forgot about it. A quick scout of this board and it looks like that was a big mistake. So I presume I need to think about transferring it. It currently has a value of…
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Locked in pension
My partner has a pension that we have been told is locked in until his retirement age of 65. The pension was a company one that ran from 1978 to 1985. It is currently held by Total UK Pensions. Does anyone know if the recent changes mean we can access this pension early or is it still locked in?