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Pension planning programme?
Hi - I'm looking for a programme or calculation to help with pension planning. What I want is something where I can put in size of pension pot, retirement age, number of years I want pension pot to last and assumed interest and annual increase figures, and it will tell me how much income I can take each year. Hope that…
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Post April 2016 Flexi-Drawdown taxation.
http://www.ariespensions.co.uk/public/analysis/19122014.htm refers to this https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/388351/Newsletter_66_-_december_2014.pdf "If a scheme administrator already makes payments to a member and has a tax code for those payments, the tax code should only be used…
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retired houswife pension entitlement
Am enquiring on behalf of my parents, my mum is 67 and apart from the odd bit of part time work and a lot of voluntary work has devoted herself to raising us two and running a home. My dad is 64 and has pretty much worked full time all his life up until about two years ago when he stopped work due to illness. He is still…
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Investment returns and Inflation
I am currently doing my retirement planning as follows. I am 49 (just) and planning to retire at 55. Both my wife have reasonable DB schemes that we plan to start collecting somewhere between 55 & 60. We will also have the state mention at 67ish. I have a pot of savings that I and looking to invest and have received much…
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Accessing Pension Fund - Advice needed
Hi I am in receipt of a monthly local government pension as three years ago at the age of 55 I retired, at the same time I also received a tax free lump sum. I would now like to help my daughter through her university course and would like to draw £25k. I understand that come April I am able to draw on the remaining pot.…
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Superannuity - compulsory enrolment working in Australi
:TWhile working for 1 year in Aus in 1999-2000, employees are obliged to enrol in a pension scheme. It seems pretty much impossible to get a refund, they want marriage certificates (I'm divorced), a copy of the visa to get into Aus and a copy of the passport I used back then - 15 years ago!...anyone else managed to get a…
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Annuity cash in
My husband bought an annuity a few years ago that we planned to keep until he was 65. Unfortunately our circumstances have changed and we are looking to cash this in. Is this possible when the pension rules change in April, can we do it ourselves and what percentage would we lose? We were last quoted a value of £34k
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old db pension any good
i have an old employers db pension from 1992 to 1995, i paid 2000 into it. it says its value is 500 a year with lump sum of 1500, and converts to 3600 a year and lump sum of 11000 when 65 if rpi runs at max of 5% and pays out indexing for life to max 5% rpi. rpi has only averaged say 2.5%, stock market has done better. the…
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Pension Annuity advice
I am already receiving a Company pension and am soon to reach retirement age. I also have a couple of other company pensions which will mature at the same time. Am I still eligible for the part cash part annuity option? How much am I eligible to take as a tax free option? Can I combine my pot with my wife's private…
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Wound up pension. Lost forever?
Apologies if I've missed anything relevant when searching. Around 3 or 4 years ago I began to wonder about pension plans from previous employers and contacted a couple of them. One sent me an acknowledgement and said that I would get updates on their plan at roughly yearly intervals. The last one I received was late in…
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Need some help understanding an old with profits pension
Hello, well my new year resolution was to take control of my finances, so dug out some info on an old CIS with profits pension that was used back in the 80's to house contracted out SERPS contributions. Stupidly I have never really looked at the statements just put them in a box with other bits of paperwork, now I have had…
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DB scheme or SIPP?
Hi there I have a DB scheme that I no longer pay into and dont really understand. This is what it is worth today: Total non guaranteed transfer value of benefits not including AVCs £10,251.00 In respect of Post April 1997 pensionable service £10,251.00 Amount of Transfer Value that is subjected to increases at: 5% or the…
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Carrying forward annual pension allowance
Hi all, Anyone know the answer to this one? It's about carrying forward unused pension contribution allowances. I last had an employer pension in 2006/2007. I started at a new employer in 2014/2015, where I get employer contributions. In the intervening tax years, I didn't have a company pension or make any personal…
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Any benefit transfering my pension?
I have recently changed jobs and was wondering if it is worth transfering my pension pot(About 12k) from my previous employer to the new one? I was on defined contribution pension and the new one is final salary pension. Thanks a lot
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NI Contribution Record Query
I've received a letter from HMRC about my contributions over the years, which I asked for to check the payments I've made. I've got 36 qualifying years up to 2014, made up from working full time, part time, HRP and also I had some years contracted out. I've already had a pension forecast (I'm nearly 54, so come under a mix…
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SIPP Contributions & Tax Relief
Morning, Moving into 2015 I intend being much more proactive with a SIPP I have but I'm a little confused about the tax relief available, being a higher-rate tax payer. As an example - and keeping the numbers simple - if I wanted to make a gross contribution of £100 I would only have to pay £80 with the remaining £20…
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Can we rely on the State pension in the future?
I am looking for opinions on this as I am currently relying on the maximum figures when calculating what my pension will be on retirement. Thanks
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Any ideas
Good day everyone It's been a while since i posted anything, basically i'm retired (60) living in the philippines, Lost most of my money on a failed business venture, Question, i have two annuities i purchased which pay me 680 sterling per month, what's the best way of transferring from UK to philippines, Of course i can…
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Is an NHS pension due?
After talking to my Mother in law I found she worked as a domestic in the NHS for 16 years working 20 hours a week, she stopped at the age of 62 (19 years ago) Should she have got a pension? she is still with her husband and gets an small OAP off the back of her husbands NI contributions. She seems to think because she…
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Almost 21 Years Old, I Want To Start A Pension Now
Hi all, I am asking for information regarding Pensions. I was previously against the idea due to the notion of 75% of it being taxed. However, I am now led to believe that I will actually gain more from my money which has made me want to pay into a pension rather than saving all the money into an ISA. I am currently 20…
