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Help with pension - simply explained please :)
I am 27 this year and feeling the fear of reaching 30 and financial security. I do not have a career - I have an average £13k office job with no bonuses or pay increases - there is also no pension scheme. As I pay tax/NI i will be entitle to a pension when I retire? Correct? I understand that it will be very minimum amount…
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**Utterly, completely, totally lost. HMRC rules help appreciated!**
Hello all. Sorry to be a nuisance but I really am lost, so help would be appreciated. Apologies in advance for the length of this post . . . My husband changed jobs quite a lot in his career so has finished up with four private pensions in addition to his State pension. One of those pensions relates to a scheme of which he…
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Ensuring correct tax taken from pensions.
I'll be coming up to retirement in the not too distant future but haven't a clue how to ensure the correct tax is taken from my pensions. I currently receive one pension which is taxed at the basic rate because of my employment income. Come retirement I will have 2 'work' pensions plus state pension. Unfortunately I retire…
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Pension advice
Hello I have 32 years contributions to Superannuation, worked without any break in Service full time in NHS. Changes to our pensions just the same as everybody seems to be experiencing and I am wondering now, because of the latest communication I have had, am I able to somehow stop paying my contributions and pay them into…
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early retirement and divorce
Hi just wondered has anyone taken early retirement as they were going through a divorce? How might pension sharing be affected? I am 56 and want to retire in December at 57 .I have been married 33 yrs and it`s likely I will receive a share of my husband`s pension as I will only have had 17 yrs service to his 30 due to me…
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Independent Financial Advice on Pensions & Savings
Hi there, Is there a financial governing body (website) that hosts information about independent financial advisers available please? I need good, honest, reliable advice and guidance on my finances. Not interested in engaging with cowboys! :) Any help in pointing me in the right direction would be appreciated. Thanks
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Housing association exiting the LGPS
Made me think of a recent thread, only where the situation is slightly further down the line - exit of a housing association from an LGPS fund: http://democracy.bathnes.gov.uk/mgAi.aspx?ID=13477 (see also the PDFs linked at the bottom) Situation summarised here:…
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Help with Pension claimback/transfer
Hi I posted this question over on a different board as I couldn't find a specific board and was redirected over here by a nice poster over there. Not sure if I am putting this in the right place. My hubby was working for a large company having started as agency and then getting a 2 year fixed term contract last year. In…
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sipps management fees for bad investment in Spain
I transferred a pension in to a unregulated sipp in Spain. the management fees were £900 per year. The sipps company took the fees for the first three years from the pension pot but now because the three year investment has overrun and the investment has failed they are chasing me for the management fees. The investment…
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Auto Enrolment
I would like clarification on my situation I joined the company I currently work for in Feb 2014 working just on a Saturday. I receieved a letter in April 2014 regarding the auto enrolment which I kept but disregarded as I was earning well below the auto enrolment threshold. In July 2014 my hours increased. I have just…
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How do I find out whether my pension is on track?
10 years ago I was out of work for a couple years and opted out then opted back in to my government pension How do I find out whether my pension is on track?
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Pru have lost my Pension
I paid into a works pension in 1979/80 which as i have said previously i forgot about till i was clearing my deceased Fathers premises in 2002. I came across a letter from Scottish Amicable advising the pension had been transferred to Prudential,i contacted them and got a letter confirming they had received the transfer in…
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Reduced Pension Transfer Value?
I have a deferred pension from a former employer's pension scheme which is due to mature on my 60th birthday next year. In light of the new rules intoduced by the chancellor, I have looked at opting out from the scheme and moving to an income drawdown product, so that when I shuffle off my mortal coil, my family will…
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early retirement AVC
My company sometimes offers an early leaver voluntary redundancy scheme. The fist £30k is tax free anything above that then tax is payable at your marginal rate. However there is an option to pay some of the money into the AVC scheme which runs alongside the company pension scheme. Question - could you claim tax relief…
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quick question re pension increases
My COD is £139.87 (made up of £98.18 for 1978/79 to 1986/87 and £41.69 for 1986/87 to 2004/05) and my Additional Pension for 1978 - 1997 is just £79.62. Although the £41.69 bit is already being paid within a LGPS pension and is inflated by CPI each year, the remaining £98.18 is due to be paid soon via a private S32 policy.…
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What Pensions To Go For?
Hope I’m ok to jump right in with a question for my first post?! I’m currently 34 and have no pension at all. My company have announced they will now match up to 5% of what I contribute and I want to get my skates on and start one up for the future and to make the most of this free money from my company and tax. My company…
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Take workplace pension, drop personal pension?
Hi All, Currently I have a personal pension into which I pay £100 pcm. I receive no employer contribution towards this.. However, my employer is introducing a workplace pension. I'll pay £75 but my employer will put in £60, making a total contribution of £135! I can't afford to do both. So, do I stop paying into the…
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Time limits on withdrawing 25% TFLS from SIPP?
Is there within the pension regulations any time limit between putting money into a SIPP and when you can withdraw it with 25% as a TFLS? Could someone open and invest in a SIPP in one tax year and then the following year withdraw (or start to withdraw) that SIPP, for example: In the final year of employment, put £20,000…
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Financial Ombudsman admitted errors on Pension mis-selling case
I opened a case with the FO in 2010 after being mis-sold a personal pension in the 90s by my IFA on leaving a big international company with an excellent company scheme. They took it up for me and just after it started I was made an offer by the IFA. However, the adjudicator would not tell me what the offer actually was.…
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MSE News: Pensioner Bonds launched today: go quick if you want one
"Pensioner bonds paying a market-leading rate of 2.8% for a one-year fix and 4% for three years are now open ..." Read the full story: Pensioner Bonds launched today: go quick if you want one Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to…
