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Take NHS pension and keep working?
My wife works for the NHS. She is 67. She would like to take her pension now, using part of the lump sum to pay off credit card debt. If she does this can she keep working for the NHS? If so, does she stop paying in to her pension? Any advice appreciated. Thanks.
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Small Pension Forecast
I am worried about being able to manage sufficiently on my not very big pension forecast & can anyone please help with some advise as to whether i can improve this over the next 4/5 yrs , i feel as if i have left it all too late & am starting to panic since my health is none to brilliant, i can hopefully manage f/t hours 4…
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NHS Pension Query (survivor benefit)
Hi everyone I hope someone can help as I am usually ok at this type of thing but really can't focus at the moment. My partner (43) died rather suddenly and named me as her nominee (NHS Pension 1995 ) to receive her pension. I have looked at the booklet but can someone advise how much the lump sum would amount to and what…
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can I take out a pension
I am 68 - retired drawing a state pension and a company pension. I also still work a little at a good job which can net me £600 pm I know that the pension rules have changed recently and wonder if it now worth putting my part time earnings (all of them) into a pension until I 'retire' from my part-time job. My simplistic…
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Telegraph "Can we retire on £50,000 per year?" article
There's a rather puzzling article in Telegraph Money today. A couple in their late 50s have mortgage free house, about £200k in cash and NS&I linkers, and roughly £2m in pensions, ISAs, etc. The various experts do say there isn't much to worry about, but their advice to start taking an income from ISAs seems odd (surely…
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Tax on unused SIPP after death
I have a plan to use a SIPP to help fund myself until my defined benefit pension is taken. The basic idea is to take the 25% tax free at 55 and then withdraw the personal allowance until I take the defined benefit pension. As the DB pension will be close or even above the 40% tax limit I would then stop withdrawing from…
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Salary sacrifice limitation
Does salary sacrifice limit my pension contributions? For example, let's assume I'm in a salary sacrifice scheme where I earn £60k. Assume I currently make gross pension contributions of about £20k to take my taxable income down to around £40k to avoid HRT. Additionally, my employer contributes £10k, so there are total…
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drawdown in bonds, how do you access more than the dividend
if you design a drawdown portfolio pension that you need to access not only the dividends, but also the capital, but want it low risk, how do you do that if it has mostly bonds in it that pay out a % . i cant figure out how you do that. if say flexi drawdown , how to you actually use the capital within a say 15 yr bond, a…
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To defer, or not to defer?
Hello All: I talked with my Final Salary/Career Average DB scheme provider yesterday (USS) to ask about deferring receiving my pension. I am currently a little more than 7 year from normal pension age (April 2022), but would like to "retire" from my current job in about 3 years and a bit (summer 2018). I was hoping to…
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Deferred fund value - what is this?
The OH has just received a pension statement and it refers to deferred fund value. Can anyone please explain this to me? Cheers.
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Divorce settlement - pension share advise needed!
I have been awarded a pension share of my ex's private pension. My problem is, if I add it to my existing pension scheme would it mean that I can't cash it in when the law changes in April as I am already drawing my pension. Or should I put the money into a new account which will let me take the lump sum in April and do…
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Credit Checks for Maintenance on Retirement Properties
Can anyone help. My elderly brother lives in a house jointly own by 5 siblings. (of which, obviously I'm one). He finds the property too big to cope with and we have agreed to sell the house and jointly by a retirement property for him. This will be a cash purchase, no mortgage. Simple so far, BUT he will be responsible…
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NHS pension advice
I joined NHS pension in 2013 and after several months opted out. I resigned from the permanent job there is october 2014 and went onto 0 hrs and was automatically opted back in- this is still ongoing I started a new NHS job in December 2014 and have also been automatically opted into the pension. This is where i get…
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End of fixed term annuity query
A 15 year fixed term annuity was taken 1995 a small GMP was taken . Should the pension provider have notified the holder of the annuity in 2010 when they were at retirement age 65 ? I am asking this for a relative of mine who is as clued up as me rergarding pensions.
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Sun Alliance Personal Pension Plan 1986
Hi I am new to this forum. I write on behalf of my disabled husband who will be 65 in June 2015. He took out a 'PPP (With Profits) For the Self-Employed'in 1986 (Benefit Date 14 June 2010) with Sun Alliance. In October 2000 he was advised by Inland Revenue that he was unable to continue paying into this policy as he had…
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Tax due on uncrystallised SIPP after death? Probate?
Where somebody has died and the value of the non accessed / crystallised pension (SIPP) is slightly over the Life Time Earning Allowance (due to growth) then tax will be due on excess above the LTA. All assets (including the SIPP as cash) are passing to spouse (acting as executor) and hence no IHT is due. Can anybody…
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Paying tax on state Pension.
Hi...I have just received notice of my upcoming S. Pension. It says HMRC will be informed how much I will get. Does this mean they will tax it ....or do I still have to call them? Thanks.
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SIPP for my children
I am wanting to start pensions for my 2 children (2 & 5). I don't want to invest a huge amount (looking at £50/month each), I just believe that psychologically if they already have a pension when they are 20 they won't be like their parents and keep putting off and putting off starting one and will be well ahead of the…
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Finding pension advice in Glasgow
I wonder if anyone can recommend a IFA in Glasgow? I am in midlife with various little pension pots and I'm aware that I need to choose one or start a new one to concentrate on, but I need advice on how to do that.
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NHS retirement
I am very confused about the best time to retire, I am a member of the 1995 scheme and will be 60 late February. I will have a pension of about £13000 and a lump sum of 39000. I also have rental income of 12000pa and have maxed my S+S ISA for years. Currently I am just into 40% tax and put the excess into a Sipp to bring…
