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deprivation of assets
Can someone explain 'deprivation of assets' to me please? I know it's a phrase used when an older person sells their house and thus doesn't have a means of paying for nursing home care - but at what point in one's life would that become an issue? For example, if Mr Spouse (55) and I (53) threw caution to the wind and sold…
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State Pension Forecast
The time has come to get to start getting to grips with retirement income. :( OH's state pension forecast, obtained today, is £218.33 per week (£113.10 plus additional State Pension and Graduated Retirement Benefit of £105.23). He won't reach state pension age until 2021. Does anyone know if the Government will honour this…
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Can someone translate this for me please..
Hi, this is concerning a deferred F/S pension I have with a previous employer, there is also an AVC element.. I wrote to the administrators recently to clarify some figures - they answered that ( see letter from them below ) but they also gave some explanation of the AVC - it is this that I don't really understand ? Dear…
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Unsure on new pension rules (HELP!)
Hello, i have 2 pension pots totalling 45 thousand pounds combined. Am i able to take a 25 % tax free lump sum when i turn 65 in August and then take the full amount in 2015 when the new rules come into place? Or if i took a 25 % tax free lump sum in August would i have to invest the remaining money into an…
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30 day right to cancel my AVC/annuity
Can anyone please advise me? I applied to claim my retirement benefits from my Standard Life AVC before the budget announcement changes. I have today, received my confirmation letter from Standard Life. The letter advises me that I have 30 days to change my mind. In view of the new rules which will apply from April 2015, I…
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Can i cash in my pension ? I'm 41.
Im a 41 year old man with a pension from when I worked at Sainsburys. I asked them for the paper work for my pension transfer value and I have received this. It states that my pension transfer value is £22,000. I need to raise some finance myself so am I allowed legally to cash my pension in to get some money. I am fully…
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Market value reduction
As I'm planning to delay taking my personal pension (I reach pension age on May 31, but I'd like to hang on to see what extra options might be offered as a result of next year's changes) I spoke to someone at the Pru and he advised me to write to them to ask them to keep the funds invested, because otherwise, they would be…
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State Benefits if No Pension
What state aid would someone receive between them finishing work (at 55+) and drawing state pension, if they're not currently receiving pension income due to having no pension, deferring taking their pension or having already withdrawn it all under the new system? Will any such entitlement be dependent on whether they're…
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Local authority pension scheme. Is it worth joining short term?
I have taken early retirement from the nhs with a reduced pension. Ihave now secured a part time job with the local authority, they have stopped pension contributions from my salary. The role is Likley to last about 2 years, is it worth contributing? At the end of my employment will I be able to take the contributions as a…
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The £35K at 35 rule - Am I on track?
I realise that the 35k at 35 years is only a general rule of thumb, but whenever I see it posted on here it always gets me worried!! If I am honest, I have been a little slow to the party with regards pension planning, but am actively trying to make amends now. So please feel free to critique and rip my current…
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A question re SIPPS
If you wanted to set up a SIPP to buy commercial property and transferred all your existing pensions into it (company and private) would you be able in addition to this utilise any pension contributions not made over the last 4 years and put this into the SIPP as well which would also have 20% government contribution going…
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Unreduced pension, redundancy query
Question resolved thanks.
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New State Pension
If I delay retiring and claiming the State Pension until after April 2015 do I qualify for the new rate or is this based solely on your birth date?:hello:
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What is the best pension?
Really hope someone can help! I am 38 and have no pension attached with my current job. All the banks seem to have closed doors on pensions. Can somebody advise me on what the best options are to start a private pension so late in life?
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Final Salary Scheme
Hi, i have just joined a final salary scheme where my pension will be based on my final 3 years service. unfortunately, my understanding is VERY limited, surely it is beneficial for me to pay as little as possible into the scheme until the last 3 years? as the only things taken into consideration appear to be the last 3…
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Which annuity provider?
I'm looking to buy an annuity with my pension pot in the next month or so - I know about the new government rules but have decided this is the best option for me :) I'm just wondering if anyone can help me or give their view on which annuity provider you went with? How did you go about it and why did you choose them? I'm…
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Who knows about pensions ?
Does anyone know if a member of a final salary pension scheme who also has avc's or a private pension will be allowed to take all of the avc's / private pension in cash + 25% of the final salary pension in cash or will you still only be able to take 25% of the combined total pension value in cash ?
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AEGON Section 32 post 88 GMP question
Any advice please:- I'm sorting an old pension that I was advised to transfer to AEGON when I left my last company 17 years ago. They've never sent annual statements hence I requested one & the details are as follows:- GMP £4565 @ retirement date - 2032 based on 7% revaluation rate. Current fund £23,776 made up of (£17,254…
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Is it worth obtaining advice?
I have (amongst other things) a Stakeholder with approx £51k in it. From what I have read, this may not be the best method of saving into a pension. I am not confident enough to manage my own pension per say, so I have been looking at transfer options via Cavendish. To be frank I am confused, and I wondered whether it…
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Voluntary ni contributions, pay previous years or both?
My husband and I have been looking at our possible retirement income and ways to increase what I can bring to the pot. The situation is as follows: I'm 50 years old. Have 27 years of NI contributions, including time while in receipt of child benefit. For various reasons I'm not working at the moment. Not in receipt of any…
