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Final Salary Pension Confusion
I am currently a member of the Tesco Defined Benefits pension scheme. I know this is going to change soon, but I am trying to work out how much money I currently have in the scheme and how much I will get back assuming that I stay working for Tesco until I retire. I am 48 years old and have been paying approximately £85…
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Pension last few questions
Since my present Pension Company is not offering Flexible Drawdown I need to change company. If I change provider, take my 25% tax free sum and start the drawdown should I not be happy with that provider and/or find a better one. months/years later can I move to a new provider and start a new drawdown pension? (I know I…
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State Pension Starting Amount Calculator?
OK, driving myself nuts now..... a while ago someone linked to a calculator for old & new SP, and the Foundation/starting guaranteed amounts, which included Contracted-Out years, but d'ya think I can find it now? No, course I can't and I'm all googled out trying to find it again... ..can anyone point me in the right…
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DB pension scheme looking to move to "regulated insurance company"
I quote from a recent mailout from the Philips Pension Fund: "Philips UK and the trustees are actively investigating a significant step to insure the Fund's benefits with a regulated insurance company." Good or bad ?
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State pension deferral
I will become eligible for my state pension later this year and am considering deferring it as I have seen mentioned on here many times. However I have a couple of questions I would appreciate help with: 1. If I die while deferring state pension, is that money transferable to my husband? 2. Do I have to decide on…
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Auto Enrollment fun and games
Please excuse any naivety I may show here. I am but a humble independent school caretaker. I am enrolled in the schools stakeholder pension scheme with L&G. I pay 5%, employer pays 7%. In the five years I have been in the scheme it seems to be doing alright as far as I can see. Now I have been told I have been auto…
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Pay off mortgage with pension
Some advise please. My DH is about to turn 55 and will therefore have access to a small pension pot (he's gone from job to job throughout his career and has a number of work pensions and private pensions he's paid into throughout the years. None of which add up to very much). I'm wondering if we should get this out as a…
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Multiple pension pots
I have several pension pots from previous employments, including one civil service one. Can I withdraw 25% from each of them tax free ?
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Bonus sacrifice
40k is max you can put in per tax year - is it easy to use "unused" allowances from previous years? is it simple task of filling out forms once they say you've gone over??? will i incur any penalties?
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Advice Needed - Multiple Pension Sources
Ey up, not my usual part of the forum to knock about in, but I have a question... I have/will have currently 3 sources of pension, all of which will come into play at different times:- 1. preserved Civil Service pension, will be paid when I hit 60 2. current company pension will be paid at 65 3. state pension at 67. How…
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DH has no pension! Overpay mortgage or personal pension?!
Hi all, My DH is 35 and currently has no pension. (I know, I know...). He works in a sector with lots of small, family owned businesses who mostly do not offer employee pension plans. We currently owe £200k on our mortgage and are in a position to overpay around 10-20% of the monthly payment, each month. What would you do…
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Having pension lump sum out hel
Hi all, just a simple question.... Father in law and his brother are debating about pensions. The brother says that you can withdraw your state pension under the new rules. Father in law is confused. I have looked on gov website and can only see that it applies to private pensions. The brother says he has received letters…
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Serps
Throughout the early '80's I moved jobs from one contracted out DB pension to another without getting the required five years in to gain a preserved pension. Were those Companies obliged to buy me back into the State Pension and including SERPS? I think I do not have any second pension(SERPS) to come.
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Pension Asset Allocation
Hello all, interested in your thoughts on my potential pensions asset allocation. I'm 26, single, don't own a property, low risk aversion. My employer pays a chunk of my salary into the scheme and then matches up to 7%, which I've taken them up on. It's a defined contribution scheme. If you go with the standard allocation…
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Lgps avc/ apc
I'm 28 and a member of the LGPS, but work in the private sector now though after being outsourced. I have 6 years of membership on the previous final salary scheme. I am looking at paying additional pension contributions to take advantage of the 40% tax relief. The scheme document gives the option of AVC or AVP, the latter…
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Fixed term annuity
My husband saw a financial person through Pension Wise. The person explained to him some of the products available now he is 65 and sorting out his occupational pension. One of the products was fixed term annuities with a 25% tax free lump sum upfront and a lump sum at the end of the term, rather than a life time annuity.…
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Passing down pension
Can you only pass down your pension pot to next of kin if you have not started taking your pension? What about if you have started taking your pension?
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Friends Life: must be computer error?
I have a tiny pension fund from a previous employer. This was with Friends Provident, since taken over by Friends Life. Every year in June/July they send me an update of the pension fund value. This time last year it was nearly £12,000. (I have all the correspondence going back to 2005.) Today I received a large pack from…
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Final salary closing
What are the usual/normal options when a final salary pension scheme is to close?Been in the pension scheme for 22 years.Not had any official paperwork as yet but i'm trying to get a feel of options to come. PS: its in the private sector
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Pension transfer to funded Govt Pension scheme
Talking to a mate in the pub last night (so that is the level of this conversation) and he wondered whether this would work. He is in the process of being made redundant from the Civil Service with a DB pension of £20k pa + £30k lump sum and as he is 60 there is no benefit in not drawing the pension. He has seen a job in…
