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Newbie looking for some advice please - thank you
Hi, I have been reading the forums for some time but this is my first post so please excuse me if I get anything wrong. I am starting to think about planning for my retirement (left it a little late!) and really would appreciate any views on what I should be doing. I read all the good informationon here but am a little…
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Moving US pension pot to UK
I currently have investments in a US Defined-Contribution style retirement scheme, with TIAA-CREF. For various reasons, I am not happy with my US pension provider and would like to move the pot over to the UK. I have read enough threads on other forums to realise that a straight transfer is not feasible (QROPS is for those…
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Armed forces pension scheme
Hi, I have what feels like a really stupid question...I have recently received a statement from the MOD regarding my deferred pension (for serving more than 12 years) and just need to understand what it actually means to me when I retire (not for a while as I am 39 at the moment). My current pension position is as follows…
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transfering a works pension - help advice please
i have a works pension that has been frozen for a few months as it needs transfering from Clerical medical to scottish widows . to move the pension over to SW, they will be taking 1% of this pension accumalated funds (approx £250 of £25k ) every year for managing it . is this consistent with what other pension companies…
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State Pension Gaps?
Hi All, I'm trying to work out if I have any gaps in my state pension. I've done the online forcast e-service, but don't fully understand the results. I am 42 years old and 43 this august. I was a student in the early 90s and remember getting a letter telling me there were gaps in my pension, but I did not understand it. I…
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Lets hear it from the IFA's ....
I suspect being an IFA is at times a precarious business - then again, so a surgeon would say the same, and an electrician, the butcher .... Public forums such as this often give the client side view which will be subjective at least. It is actually in the best interests of both parties for a constructive win/win…
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BT pension - help please
I am currently receiving my BT Pension but is being taxed at 40% if I paid this direct into my current company pension can I avoid the tax and get the full amount or would this still be seen as income so I have to continue paying tax on it ?
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best low cost personal pension
Having not got far with an IFA, I've decided to go it alone. The new pension saving that I want to start now is to help to bridge the gap between 55 and 60 when my final salary pensions kick in. I'm 52 now, and I have about £50k in S&S ISAs, plus the (not unwelcome) prospect of a bit of part time work in that five year…
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Pension company won't pay out
Here's hoping my 1st post gets some good answers. I have a pension with a rather large well known company. I have asked to be paid into the wife's bank account but they refuse, saying it must be my account. I do not have a bank account and cannot get one. Why? No fixed address, no proof of address, always on the move with…
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Commuted one-off lump sum
My husband has recently passed away and I have been awarded a forces annual pension of £627 per year. I also have the option to commute this pension into a one-off lump sum of £12,500. As I am only aged 49 this sounds like a reasonable offer. Would this lump sum be taxable (I'm a basic rate tax payer) and is this a fair…
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Pension for 25 yr old.
I'm trying to get my son interested in sorting a pension out...he doesn't have any real interest. He's heard stories about schemes collapsing just before payout due!....As I have. Are rules about such things different now? thanks
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Pension assistance//thoughts
Hi All, Would appreciate some advice/guidance as advice from SW generally sketchey. I see SW's defacto rating has been reduced to the lowest rating what does this actually mean?? does anyone know whether this has any impact upon how they manage the actual pension. (have called sw and their customer support team didn't…
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Serious ill health retirement lump sum
Hello I am in need of some information regarding a pension serious ill health lump sum my husband has been offered To give some back ground he has been diagnosed terminal and has spent the last year in hospitals. We have lived off the insurance that covered his salary for illness for the year which is now coming to an end…
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Commutation rates...
just an example... £10,700 lump sum = £1,000 deduction from annual pension. An annuity can be had for £10,700 paying approx £640.pa So when you're paying for a lump sum is costs you £1000, but when you want the annuity yield it's only £640. That's a heck of a difference. Does anyone know if there is any regulation of…
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Teacher pension
I have put around £30000 into my pensiob pot. Should I keep it in or withdraw it to to invest in property?
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Taking lump sum payment
When the time comes for myself to take my 25% lump sum payment can i request it can be taken from one fund providing sufficient value is in or will it be taken from Percentage of all funds. Will it better to switch the appx value into cash the month before?
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Transfer to People's Pension?
Have fund value of £6000 in formerly protected rights benefit pension fron L&G which is no longer in use, Now have a people's pension. Should I transfer into people's pension? Grateful for any advice. 12 years to retirement.
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Pension not paid or transferred
Adice please. I have been a teacher sine 1999. In 2011 I moved from Scotland and filled in pension transfer forms to transfer my service to English teacher pension scheme. Now moving back to Scotland and have discovered 2 things. Firstly my pension was never transferred, secondly despite paying my pension every month my…
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Potential joint proposal on USS reform
A potential joint proposal for reform of the USS has been developed over the last two months of intense negotiations between Universities UK and University and College Union negotiators. http://www.employerspensionsforum.co.uk/en/pension-schemes/uss/15jan.cfm The proposal is subject to both employer and employee support at…
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Pension Life Cover Benefit
In January 2003 I suspended my pension payments due to a change in my work circumstances, however it was recommended to me that I continue to pay the life cover benefit which I have continued to pay ever since. Is it something I need to pay or is it a PPI scenario? If I do not need to pay it will I lose out on anything if…
