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Pension
Posted on here recently about pensions, but here goes, I am 61 having retired. Sold house and down sized, so no mortgage. Mind you not had a mortgage for years 3 pension pots I have got. Should I take my money out now or wait til April . 1 large pot and 2 are small. Any advice or info Thank you
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Two pensions with standard life
Hi there, I am wanting to merge my two into one, to make it easier to manage. These are from an old job so I don't really touch or contribute to them anymore. I have Corporate Stakeholder Pension Plan (found no exact fund info) Trust Based Pension (Passive 50/50 Global Equity Pension) Which one would be more advantageous…
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Is this a pension loophole?
I am a 55yr old married female, working part time with 3 inactive old private pensions totalling approx 20k. Can you tell me if I am correct in thinking that if start paying money into another private pension ( or one of the existing ones) that the government will contribute 25% and after April I can in theory take the…
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nSP Nothing if do not meet the 10 years test
Under nSP there will be a minimum qualifying period of 10 years contributions otherwise there is no entitlement so you get nothing - similar to the situation before 2010. So someone with an SPa date of 5/4/2016 and 9 years contributions get 9 / 30 basic which is around £35. Better than a poke in the eye with a sharp stick.…
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Pensions confusion
Hi there I am hoping i can get some advice here... a number of years ago there was this big thing going around about the idea that there was no money in the pot for young people ( i was then ) so my company engaged a service now standard life to come round to my house and chat about it to me. If i am honest i had no idea…
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Retiring Dec 2015 what should I be doing?
I retire at the end of this year. I am in a company pension scheme. Should I be piling in as much money as I can?
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autoenrolment cancels housing and council tax benefit
those that rent, eg 8 million, and everyone pays council tax even if you own. ive read many articles such as the CAB, and they all point out even if on max flat rate pension, your private pension cancels out housing and council tax awards. i plugged in calculator today and my award is equal to a 100000 index linked…
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Company Pensions as a Director to employees
I run a company currently employing 3 people. 1. I was wondering, do I legally have to offer pensions to staff? [Last time I checked this information (as an employee) it wasn't necessary in companies of less than 10 people, but I have just read a couple of articles stating all companies of all sizes will have to pay this…
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starting a pension at 55?
Hi - I do not have much of a head for financial matters so I really need some advice in as simple terms as possible! I have no pension whatsoever . My OH has been badly advised and i suspect ripped off in the past so his pension pot at 61 is quite small - about 100,000 I think. He is in poor health and is limping along to…
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Is it worth opting out?
A friend of mine earns £20000, he is 47 and at present has no pension whatsoever, with the new rules coming in he will have to pay into a pension but he is thinking that it will leave him struggling now and may not benefit him in the longer term when he comes to retire, would he be wise to opt out at his age? He's under…
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Calculating Earnings figure
It's is looking likely that I am going to be made redundant in March/April and am considering early retirement at age 58. I am in FSP DB scheme but taking it early would result in reduction of 35% (7 years @5%) so am thinking of deferring until nearer 65 and living off savings etc. In order to help I am looking at making a…
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pension
hope you dont mind,you helped me alot last time. i am claiming pension credit for the both of us,but we got a letter off pension,saying my wife is coming up to pension state. the question is can i still claim pension credit for the both of us and wait till i claim state pension? can my wife defer it? j thank you and tc…
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State Pension Deferral
I reach 65 in March. I have no immediate need to claim my State Pension so I ran a simple set of figures and came up with a view very much along the lines of this post from someone in a similar situation: 'I ran a spreadsheet on the subject of 'defer or not to defer' quite recently. From the way I read the rules the 'extra…
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local government deferred pension
I was made redundant from my local council at the age off 51. Under the new pension rules if you are still employed by the Council you can take your pension at the age of 55 without their consent. However if you have a deferred pension I have been told because of the capital cost to the council they will not allow me to…
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Pension paid into joint account
If my pension after tax deductions is paid into our joint account is half of it treated as taxable income for my wife?
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Revisiting the idea of SIPPs
Hello, and Happy New Year. I have a S&S ISA and an unwrapped S&S portfolio, totalling about £100k together. I'm shunting the unwrapped money into the ISA as fast as I can. This money is to supplement my otherwise meagre pension provision. I'm 59, won't get my State Pension until I'm 66. I'm semi-retired but still…
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State Second Pension entitlement
I am 41 years old and have contributed to the State Second Pension and SERPS before that (although SERPS will be very small). Given the change to the flat rate pension and that I won't retire for a number of years, do I retain any entitlement to the accrued S2P when I finally do retire or has that been lost?
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tax deductions on drawdown
I am already in drawdown and have taken my tax free lump sum this was quite a few years ago. I still work. With the new drawdown rules coming up in April I keep reading that the first 25% of each withdrawal is tax free but surely this is misleading/not true. Good news of course if it is true but I am sure it is no. Can…
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can future gov destroy your plan
quick question i worry about, im a few years, maybe 2 elections away from 55, paying large amount into pension, what if say a few weeks before i retire a future chancellor or gov says sorry folks, its back to annuities for you, the experiment we did in 2015 made pensioners blow their pension and its backfired, they have no…
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how do you over drawdown funds from bonds
if your portfolio at retirement has certain amount in corporate or gov bonds paying say 2 to 4% per annum paid say every 3 months, how do you drawdown say 10% , i understand if portfolio was equity and money market you could take what you want and when, but how does that work if it has bonds and you need more than the…
