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Every so often I get the fear....
Every so often (usually when I receive my pension contribution increase letter, which I have today!!) I get the fear that paying into my pension is the wrong thing to do. I am a teacher and so am enrolled in teachers pension. My contributions are at just about 10%. To me, each month this goes out of my payslip I feel a…
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Pension sacrifice for lump sum?
I will be retiring this year with >35 yrs NHS service. I'm married, a home owner (no mortgage or other debts), and basic rate taxpayer. I have a small nest egg of a few thousand pounds in a cash ISA, and a similar amount in premium bonds. My question is regarding whether to take the full annual pension or sacrifice some…
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Pension Credit and State Pension
OK at the minute my dad gets pension credit but the state takes into account his £200 private pension. I just wondered in September when my dad is eligible for full state pension will the government still take into account the £200 private he has or will he get the full state pension + his private without anything being…
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TFLS in stages?
If I put my pension pot in an income downdrawn sheme or SIPP, can I take the tax free lump sum in stages over a 4 year period? My plan would be to use my State pension and some income downdrawn to reach the tax free allowance of 10k p.a. then top that up with a further 10k p.a. from my £40k tax free allowance. Thanks
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Bonus payment
I have been advised my company as decided to pay the senior staff a 20K bonus for the efforts of last year. I am a high rate tax payer and mortgage free,the company operate a Salary Sacrifice scheme and i was wondering if i could put the bonus straight into my pension,i have no need for the cash at the moment and can see a…
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How do you keep on track?
I suspect I already know the answer to this BUT having established the plan, done the spreadsheets, set up the investments / pensions etc. how do you strike the right balance between the here and now and the future? In particular how much much should you forgo now in order to fund that early retirement? My weakness is…
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Help !!!! What to do
Hi folks need some sound advice please I'm 49 years old I have a ten year pension frozen with Royal Mail left in year 2000 since then no pension payments until the peoples pension came in to work places not so long ago but now I have left this workplace and am working for a one man band I had a letter the other day from…
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fairline pension review
Hello, I have been contacted by fairline pension review to review my pension. Has anyone had any dealings with them? They send your authority off to blue Infinitas to check your pension. I believe they take a commission. Are they any good? thanks
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another pension or ISAs for additional savings
Dear all In response to the budget I would appreciate some general views on switching potential savings from ISAs into additional pension provision. My background, currently 43, with 20 years final service pension accrued in the NHS scheme. I expect I have reached the peak income earning of my career, flatline at best for…
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State Pension Calculation
I have received my statement for getting the State Pension and wonder how the calculation of what I receive is not adding up (maybe I am missing something!!) Basic State Pension £113.10 Additional State Pension to April 1997 £96.45 Less Contracted-out Deduction £165.64 Additional State Pension to April 1997 £NIL Additional…
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Pensions: Granada TV Rental / Red Arrow
Hi, This is a random message to anyone who used to work for Granada TV rental or Red Arrow as it was then. I worked for them for 5 years in the late 60's. Has anyone received a pension from them or made any pension enquiries? Just interested to investigate if I have a little pot of gold somewhere...:D
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Newbie pension question
Dear forumites... have just found this forum and find it fascinating. I have a question for you and would appreciate your thoughts and advice please. Given the Chancellors pensions changes announced recently. I have a £29k pension that I want to access. Am 54 now and 55 in Oct. I would like more control over my funds. How…
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Do all Stakeholder/Sipps allow commutation of small pots?
I want to do a partial transfer out of 10K from a large Sipp into a new arrangement to then commute as a small pot. I can see a trivial commutation cost (sometimes zero) on some Sipps but I've not seen a stakeholder pension where it's shown. Any suggestions for a cheap provider of a suitable Stakeholder/Sipp?
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Qrops
I am considering moving my pension from LGPS which has been frozen since last July to a QROPS. Has anyone any experience with Blackmore Global or Harbourside Investments? Your thoughts would be appreciated.
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SIPP or company pension?
Hi I've always been self employed but recently incorporated and wanted to know if my pension is best arranged through my company or via a SIPP? I'm 42 currently have a zurich personal pension that I stopped paying into 10 years ago, with a 10k pot to transfer and £250 pm to invest going forwards. (I recently learned the…
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Please sanity check my thinking
My company has recently started a salary sacrifice scheme. My current contributions are 20% plus employers 5% (plus 6.9% of that in employers NI). I am thinking of increasing my contributions to 30% on the basis that I will get a 12% employee NI reduction (in my pocket) and and extra 6.9% employer NI uplift into my…
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FRIENDS LIFE - AVOID AVOID AVOID !!!i
I have had a personal pension with wintherthur since I left the forces in 1990 - 2 years ago wintherthur was taken over by friends life - since the take over I had never had a statement - 2 months ago I had made arrangements with my local HSBC bank to have a pension review ( I also have a small pension with HSBC ) so I…
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Pension planning spreadsheets
I have found several online calculators for working out what we could have when we retire, but I can't find anything which works out what we have, what we need, and how long it would take to spend in retirement, therefore helping us decide when we can retire. Does such a thing exist, or do I have to get my other half to…
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Police pension reform - what to do?
I joined the 1987 police pension scheme in 2004 at the age of 19, expecting to retire after 30 years service. As a result of the forthcoming changes to the police pension scheme I now face having to work an extra 11 years to achieve my pension at aged 60. This obviously means I will have to pay in far more than I had…
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So how long will I live, the Government will tell you.
http://www.telegraph.co.uk/finance/personalfinance/pensions/10771507/Pensioners-to-be-given-advice-on-how-long-they-will-live.html A new skill for IFAs?
