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IFA Charges -thoughts please..
I have a; * SIPP of approx. £150k * A S&S ISA of approx. £44k both set up and managed by an IFA. I have had a recent IFA review and recommendations are to transfer both into a wrap product with an initial IFA charge of 1% of the fund values. I also have; * A deferred final salary pension with a transfer value approaching…
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Can I do this?
I'm 64, working part time, maxed out my isa and have £80k in ns&i investment bonds. I could open a sipp and anything I paid in would be boosted by 20%. Would that be a reasonable strategy? Cheers fj
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How do i work this out
On a calcultor?what buttons do i press to get the result? Mable was a member of a final salary scheme for 5 years from 1st Jan 2009.Her date of leaving was 31 december 2013.In her scheme final pensionable earnings is defined as the highest value of pensionable earnings in the last 5 years before leaving. Year 1 = £15,000…
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Researching Pension Options for Children - Advice Please!
Hi everyone, I read an article ages ago about setting up pensions for children and always planned to do so for my own children. I now have a daughter and would like to figure out whether it is worth it and what the options are (as the costs of the pension will matter over a long period and also the amount I would need to…
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Dealing with Pensions
Hi I am a small business owner with 4 members of staff. 3 of my staff have pensions. I am not sure how to deal with this. At the moment I pay the pension company directly and do not account for this through PAYE. It is not included in staff wages its a separate payment but is this subject to tax and NI? 2 of the staff are…
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Paying into my pension.
Hello everyone. I have set up a private pension with virgin. I would like to set up a payment straight out of my wages that takes a percentage. virgin told me this is not possible to do. is that right?
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Advice appreciated
Hi I have had a pension with Abbey Life for several years now but stopped paying into it a while ago. I know I need to transfer it but therein lays the problem. The amount isn't huge - between £40000 and £55000. I spoke to a FA who wanted to charge £2400 to advise and to his credit, suggested that he was probably too…
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House of Lords to debate proposed reforms to the state and private pension
Today the House of Lords will be debating proposed reforms to the state and private pension. We expect this debate to start at 11.30am. You are able to watch this debate live and on catch-up on Parliament TV. This debate has been moved by Lord Flight, former shadow Chief Secretary to the Treasury.
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Questions re: SIPP payments
Hi, Couple of questions that came out of another thread I started specifically relating to SIPP's so figured I'd come for help here. Will be opening a SIPP for the missus so have a couple of questions:- 1. Do the monthly contributions have to come from her bank account, or could it be my account? 2. She is soon to leave…
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How Much Would You Pay For Pension Advice?
My better half is an IT Contractor and being self-employed is looking at starting a pension after several years of being in her workplace scheme. She's shopping around for IFA's to help her out but most don't disclose their fees other than if it's a lump sum investment (eg 3% of the lump sum and 0.5% ongoing fees), which…
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"I know this sounds obvious"
said Richard Parkin, head of retirement at Fidelity "but it is a worry that some of our callers do not seem to grasp that if you take money out of your [pension] policy today, it will pay a lower income in retirement." (Quoted in The Tel, 16/06/15)
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Proposed Company pension contribution changes
My company say if i want to stay in the DB scheme i have to start paying 10.5%-11.5% of my pensionable salary and that will increase further as i get older up to probably 14.5% or even higher.I currently pay 8.5%.If i can afford the large increase would you stay in the DB scheme.Or change to the DC scheme being offered…
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Pension Funds in SIPP used to buy land scam
I am trying to find out of there is anything I can do about my SIPP investments. I transferred several small pensions into a SIPP in 2009. I then used the money to purchase land through a company call Asset Land. I invested about 75k on 3 separate sites. I had to get the investment approved by Guardian Pensions, they…
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Pension mis sold
I'm looking for a bit of advice please on whether we have a possible mis-selling case. My OH left the forces early 20 years ago. A couple of years later we had a financial adviser set up another pension scheme as we had children then, the adviser recommended my husband transfer his forces pension into the private sun-life…
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Is salary sacrifice worth it for pension scheme?
I'm about to sign up to my employer's pension scheme (it's the USS scheme for UK HE) and I've been given the option to use salary sacrifice to lower my pensions contributions. As I'm just getting started in the job and have quite a few outgoings, I was thinking about taking this up, but I wondered what the downsides might…
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Letter of Wishes
With my wife and I in our mid 70's, I thought I should review my letter of wishes on my pension funds. I should really have done this sooner as it is very important and could save our family a great deal of time once we have fallen off our respetive perches. I had already made sure that my wife was a nominated beneficiary…
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Does a Pension run out ?
Hi all, Sorry I am clueless about pensions... I thought that if you worked for a bank (for example) your pension once commenced is paid yearly for your lifetime - and that some people dying young (ie less paid out by the pension fund) and some people dying old (ie more paid out by the pension fund) would average itself out…
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NHS 1995 Pension & Rule of 85
MIL just recieved her forecast for her NHS pension under the 1995 scheme. She's just turned 50 and currently has just under 32 years service. Am I right in thinking that when she turns 52 (so years service is 33) she'll be able (depending on employers decision) retire and claim her full scheme without any actuarial…
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Need advice on a couple of pension options
Hi there everyone, from a newbie. I have just taken redundancy and have received a form from my pension provider in which I have to let them know how I want to take it i.e. lump sum, deferred payments etc. My dilemma is that one of the options is to take a set annual pension with a tax free lump sum, the other is to take a…
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Leaving a job with final salary pension
Hi, I'm looking for a bit of help regarding moving jobs and leaving a final salary pension. I have just had word that I was successful at a job interview and the company want to discuss a formal offer on Friday this week. If I accept this job I will be walking away from a final salary pension (currently 3% contributions…
