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Employers NI for Increased Salary Sacrifice
I recently opted to significantly increase my salary sacrifice contributions to my company pension. I was already at the limit of the employer contribution, so this didn't result in my employer having to contribute more to my pension. It does, however, result in my employer's NI payments reducing by £600-£700 per month.…
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(Re)starting my Pension - help?
Hello I currently have £3119 sitting in a Flexible Pension Plan with Aegon - it moved over after I left an old employer. I'm 26, self employed earning gross ~£1.5k per month but hoping to increase this to £2k per month. Have a mortgage & other half (becoming spouse in Jan 16) who earns £26k gross per annum. Wondering where…
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State Pension Forecast
Just received my wife's, forecast on the current scheme, she is 52, so I was interested in getting a rough feel for her foundation amount for the new scheme. It states the Basic State Pension as being £115.95 per week with 35 qualifying years - this is the 'full' amount. It also states ASP and Graduated Retirement Benefit…
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Defined Benefit and Defined Contribution plans - Lump sum questions
Afternoon all. I have a Defined Benefit plan, now closed but still getting RPI increases. This is due to be taken at 60. I am now in a Defined Contribution scheme, also due to be taken at 60. My questions are related to the new rules introduced by the government - 1/ If I were to leave my current employer at 55, can I…
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Pension Adminsitrator problem!
Hi All As a brief bit of background, when my mother moved house 2 years ago, we changed all her standing orders and bank accounts to reflect a new change of address - with the one exception - her private pension administrator. It was only when we were helping her to rearrange her finances (she is suffering with the onset…
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Equitable Life With-Profits Personal Pension
I have tried to make sense of the relatively old posts about the goings-on at the Equitable Life, but I am still confused about the pros and cons of transferring out With-Profits policies. I have a small (c. £24k) pot in a With-Profits personal pension that I've not contributed to since 1999. I was considering whether to…
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state pension tax
Sorry if this is not the right place for this I am new, my wife is retiring in August 2015,she has an estimated £28000 lump sum which she wishes to take, When she retires her only income will be the state pension of £155.00 per week. would she be able to pay the tax due on this sum in the next year. and therefore would she…
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state pention tax
Sorry if this is not the right place for this I am new, my wife is retiring in August 2015,she has an estimated £28000 lump sum which she wishes to take, When she retires her only income will be the state pension of £155.00 per week. would she be able to pay the tax due on this sum in the next year. and therefore would she…
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MSE News: Got a nanny or carer? You may need to set up a pension for them
If you run a small business or employ a nanny or carer, you may need to start paying into a pension for them... Read the full story: Got a nanny or carer? You may need to set up a pension for them 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…
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What happens with SIPP
Directors can have company pension contributions or make their own payments into a SIPP. There are limits to how much can be paid in annually, with the option to use up previous years allowances. The annual limits are capped at £40,000 or the amount of taxable income during the year. However, is this cap the legal limit on…
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Flexible drawdown 'pot' with Total Expense Ratio of 1.80%
Hi All I would like opinions on whether the above represents good value for money (excluding investment gains)? This plan is in operation (it is my father's) and includes the IFA's trail commission and the platform charge and fund AMCs. The fund is not overly large (c.£80k) as it has been depleted in recent years as my…
