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Acutuary reduction or not ?
Guys I've had the view and seen it agreed with on this forum quite a few times that it's not usually a good idea to take an actuary reduction. ...but What if by not taking an actuary reduction you would spill over into the 40% tax bracket ? Would that change the view ? Views appreciated. Thanks
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Deferring State pension after one year.
Dear all, Any pitfalls? Planning a holiday in two years, money could come handy. thanx Sebastian
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Everything you need to know about GMP ....
as per House of Commons Library on 18th June - http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN04956#fullreport
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Timing personal contributions through the tax year?
Obviously it is not allowable to contribute more to a pension that you earn each year. I wish to make personal contributions to my pension this year equal to my income. Can I contribute the full amount now although obviosuly I won't have earned all the income until next April or am I restircted to contributing what I earn…
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Letter from DWP
I apologise if there is already a thread but I couldn't find one and would really value some advice. My mother received a letter recently from the DWP in connection with the retirement pension paid to my late father. It relates to the period 05/01/15 - 11/01/15, my father passed away on January 1st. They claim that they…
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Freudian Slip
http://www.professionaladviser.com/professional-adviser/news/2412463/govt-takes-wait-and-see-appraoch-to-potential-drawdown-cap "Speaking in the House of Lords, the minister of state for welfare reform said the government was monitoring the growing drawdown market, which is predicted to increase on a massive scale as…
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Cavendish online invalidated?
Years ago I opened a stakeholder pension with Aviva through Cavendish Online, paying their one-off £35 which means that i wouldn't have to pay the ongoing percentage charge. I put a one-off payment in to start the pension, and no ongoing payments. But a couple of years ago, i put in another one-off payment. This time i…
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Removing Contributions to pay debt
I have been paying into a pension for around 13 months with a 7% contribution and employer contribution of roughly 13%. I have contributed around £3000. I am 26 years old. I have credit card debts of approx. £4000 and an overdraft of £1500 though £1000 is interest free. I typically take it all the way up to that £1000…
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Carry Forward Previous Years Tax Allowance
I understand I can carry forward unused tax free contribution allowance from three previous years. If I wanted to do this and take advantage of unused allowance from 12-13, 13-14 and 14-15 this year, would I have needed to do anything special previously, do I need to in some way arrange this with the pension provider or…
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SIPP firm making late loan repayments, implications?
It appears that a SIPP provider may be making late payments on a P2B loan. This strikes me as something that is not likely to be much appreciated by the FCA given my expectation that they want a lack of signs of financial stress. Just how serious would late payments on a loan by a SIPP provider be, from the FCA's point of…
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Defined Benefit Scheme NRA 60 but intend to work until 65?
I have an old defined benefit scheme with an NRA of 60 but I intend to work until at least 65. I am 60 in December 2015. My state pension age is now 66. I am in full time employment and making the minimum contribution to me current employer's defined contribution scheme (we have a big mortgage). I also have a small private…
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Transferring a Defined Benefit Fund
I have a pension pot in a defined benefit scheme in region of £250k from previous employment. I have been running my own limited company for last ten years and I am looking to convert my pension fund to a SASS After 18 months of wrangling with the pension company and trustees they have cleared all the paperwork and fund I…
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Redundancy Age 50 Final Salary Pension Options
I have the offer of VR in October and have been provided with the following options for my final salary pension: 1) Take full severance £88k and take immediate pension (scheme allows pension at age 50) £13547 pa index linked 2) Take full severance as above and defer pension until age 60 at £20714 (index linked) 3) Exchange…
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Traced old pension schemes. Now what?
I used the governments Pension Tracing service to locate my pensions from previous employment throughout the years and I have only a few bits and pieces to sort out before sending the appropriate information but i have no idea what to do afterwards. Should I collect the money and put it into a savings account? Invest it?…
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HMRC Recycling Rules
I have a query regarding recycling rules, which are complex and far from black and white. I have asked about this before, but now have some specific figures: I am just started my FS salary pension (at 49) and taken the lump sum (slightly increased with some commuation). I have also started a second career with a good…
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state pension planning at 62
Hope no one minds me just offering my situation and a few simple questions as I’m reaching a critical time in my life. I’m 63 in August and will be off to Spain (Spanish tax resident from 1/1/2016). I’ll get married to my Spanish better half in Gib before 2015 out. UK house being sold now. Have half uk limited company but…
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"Fat cat" cap
The Queen's Speech confirmed that the Conservative manifesto pledge to limit termination/exit payments to public servants to £95k is to be brought into law. This is to include so-called "pension top ups". Do any of the LGPS or public sector scheme experts out there know anything about this yet? 1. The cap is to be…
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2015 NHS Pension Scheme - ERRBO
I'm looking for a spot of advice about one of the new "features" of my pension scheme... the scheme advisors themselves have thus far been less than helpful; and other than a Similar Civil Service Pension thread at https://forums.moneysavingexpert.com/discussion/comment/68165295#Comment_68165295 there doesn't appear to be…
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Opting out of my pension scheme
As I am in possession of pensions (a DB one and a DC one) that will amount to being worth about £1.1m by the time I take the DB scheme I am planning to (if it's a option) take protection before the end of this financial year. When I do that I think I am right in that I would have to opt out of my pension to stop all future…
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pension scheme law
I've been working for the same company for 5 years now. at first i didn't join the private pension scheme but a few years ago i wanted to and they still havent registered me. they keep saying they are in the process of switching providers and appologies for the delay but as they don't pay in themselves that i could just go…
