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Should I transfer to a single pension fund?
I currently have 3 different pension funds, 2 of which are from past jobs. The old funds have about £20k in total. Should I look to consolidate these with my current pension fund so it's easier to track what I have? I'm just wary of having bits of pension in different places and if in years to come one or more got lost or…
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Legal loophole for EMPLOYERS to opt out?
Moved to pension forum.
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Can an employee ask employer which account to send pension to for pension scheme?
Hello all! I am a little confused about this so maybe someone can help. When joining a new company, can I tell the company which account I want the pension scheme money to go to? E.g. They might offer a pension with a certain provider, but I do not want to join them and instead want my pension money to go to a provider of…
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LGPS Advice - Am I saving enough?
Just looking for some advice and whether I need to take action in the new year. I am 35, I work for a local authority on approximately £37k, been in the pension scheme since October 2011, transferred in £21k from previous private pension and contribute over £400 of my monthly wages into the pension. Should I also be…
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Minimum pension age increase to 57 questions
Hi there Some really noddy questions here. I've got three pension pots with current and previous employers. One DC and DB scheme of a previous company and then I am still in a DB scheme from the company I was TUPEd into. Relating to 'this tax penalty that was introduced in this years budget for taking taking retirement at…
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Tax and pensions
I'm a little confused and wouldn't mind a little clarity with regards to what would be the best way for me to maximise my benefits both now and in the future. I'm employed part time earning £10500 p/a and currently pay 5% contributions to my pension pot. I'm in my early 30s but have very little in the pots to date due to…
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Guaranteed Minimum Pension (GMP) and the Pension Protection Fund (PPF)
I have a deferred defined benefit pension from a company I left in 1985. The deferred pension is largely made up of GMP, which is currently revalued at 8.5% pa, and there is no revaluation on benefits in excess of GMP. I am expecting to receive a small pension of £3700 pa in 4 years time when I am 60 (I am female). There…
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pension credit couple
i am on pension credit and also claim for my wife as weel,but my wife is 62 but in march 2015 it says she will become a pensioner ,can i still claim for her as a couple? thank you in advance tc all
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Extra income as a pensioner
Next month, at age 65, I shall start to receive my state pension. For the last few years I have been a sole trader doing web design, but due to the recession and looking after my grandchildren I do very little work and probably earn in the region of £1500pa. Can I continue in this way or will it affect my pension? My wife…
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Understanding state pension forcast
My forcast leaves me with a few questions-it reads. 44 qualifying years upto April 14. New state pension £134.62 and existing £130.99. Employment history is 71-76 employed,76-84 contracted out into lgps, 84-2005 raising family so home responsibilities protection? and self employed paying class 2 ni contributions, 05 to…
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Small pot
My wife is 57 and has a SIPP pot of £15200 with HL. Due to various circumstances unexpectedly she will be a spanish resident and tax payer after April so we'd like to wrap this up. She has no (and never had) other pensions of any type. This tax year in the uk she will have earned the minimum to qualify for a state pension…
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Pensions advice for 20 something
So, here I am asking for pensions advice for my 20 something year old daughter! She has just started work after graduation and wants (on my advice) to start saving for retirement. Her employer contributes 3% increasing to 7% after 2 years. She in on an income which fortunately means she has a fair bit of monthly spare cash…
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Can I take 25% now
I am 68 years old, non resident, Irish citizen and resident in RoI. I have two private pension pots in the UK, one about 27k and the other 11k making 38k in total. A thought came to me that I may be able to take 25% before April 2015 and then have another 25% after April 2015 and therefore pay much less income tax on the…
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How much is enough?
Often quoted is that a couple needs £15k household income for a comfortable retirement. Is that your experience? fj
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Planning for retirement for two on one income
Hi All In recent months I've been starting to do a bit of reading up on what I should think about doing to plan for the future given our situation. I'm 30, my husband 33 - we've been married for 12 years. Due to health problems, my husband hasn't worked for large chunks of our marriage and is unlikely to be able to do…
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Transferring Pension into TPS
Hi, I have been given a transfer value of £21000 from my current pension on leaving and this equates to £4900 per year in pension on retirement with 8 years service... How much would that buy in the TPS? Anyone got any ideas...I don't know whether to transfer or not...I have 12 months to decide...
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salary sacrifice
What are the benefits of paying into a registered pension (SIPP etc. (via 'salary sacrifice' rather than paying into the same pension as a monthly additional contribution and then claiming tax relief.
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44k income how much into sipp?
Hi my wife will earn 44k this year- the first time she has paid 40% tax. How much should she put into a SIPP to take full advantage of 40% tax relief?
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Pension question
i have pensions of £25000 £10000 £5000 With the new changes coming in next year to pension drawdown. Just wondering whether to draw down on the smaller pension so that it will come in this years tax drawdown . Then I can drawdown on another one next year. As I understand it is only one drawdown per tax year. Thanks Merry…
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Had some bad news today
Looking for some general advice after having some terrible news today. Sorry if the info is a bit sketchy at the moment. My sister, late 40's, has been diagnosed with terminal liver cancer and told she has at most a year to live, her husband is 40. They have no children. He is in a FS pension scheme (private) and if he…
