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Buying extra pension advice LGPS
I wonder if anyone can help me with this query. I have been quoted £79.80 per month over 16 years to purchase an extra £1000 per year index linked pension. I am in the LGPS, a 48 year old female. This extra payment will be only pension for myself, there are no spousal benefits with the extra. I work part time and at the…
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Discretionary Lump Sum Payments
We've had a couple of bereavements in the family recently. Both of the deceased had pension plans and were drawing pensions at the time of their deaths. My wife is the executor of both estates and has also been dealing with advising everyone who needs to know about the deaths. After advising the pension providers and…
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MSE Guide to Taking Your Pension 2015
I've just read the newly available Pensions Guide mentioned in this week's newsletter. It's pretty thorough and easy to understand but part of it is at odds with what I was told at a recent pensions presentation given by Standard Life. On page 13 (and elsewhere in the Guide) it states that when taking cash lump sums, 25%…
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URGENT, need an answer by 1 pm. Best rates on Equity Release?
Hi everyone, can anyone advise at to what the better Equity Release rates are just now? My Uncle has been quoted 5.4% for releasing around 25% of the value of his home, he is in his 80's. The IFA suggests Aviva as a lender. He is due round at 1pm today to my Uncle, his Daughter will be present. The problem with online…
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Pension for over 80's in 2014/2015
sorry, I am trying to complete my mother's income tax return. I cannot locate the amount of pension for over 80's she received in 2014/2015. Thanks for your help
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pension Regulator v Pension Ombudsman
I currently have a problem with my pension plan (see previous questions). It is being investigated internally and I hope it will come to a satisfactory conclusion. However, in case it is not I want to understand the difference between: 1) pensions regulator 2) pension ombudsman 3) pensions advisory group Is the pension…
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Moving to Teacher Pension Scheme - Transfer in
I am moving to the TPS from a private scheme where I have a transfer value of £24000. I am 30 years old and joining the TPS for the first time on a salary of approx £47000. I will obviously joining the TPS on the 1/57th basis that new starters get. Is it worth transferring my current pot in? What will I get for it? How do…
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Have you been the victim of a pension scam?
From April 2015 you have more choices about how you can access your pension pot than in the past. But fraudsters are taking advantage of these new rules by trying to persuade people to cash in their pension - either the whole lot or a large sum - and hand the money to them to invest. There are different types of pension…
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Aviva with profit fund pension query - can I cash it in?
Years and years ago I paid into a pension pot that my previous employer set up. There's about £1000 in it. I have paid into an nhs pension for the last 11 years and I wondered if I could move it to my nhs pension or even better be able to cash it in?
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pension beneficiary
hi this is my first post so hope it works my father passed away back in 2001 he was a prison officer he paid into the pension scheme for around thirty years ,my mother passed away a few years before. .My dad made me beneficiary to his pension as my mother who was previous beneficiary had passed away i signed forms my…
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Pension coming up - advice please
Hi I am coming up to my pension in August and just had my retirement options through the post. Back in 2009 I requested what my options would be if I took my pension out early. The pension company kindly replied with my options. I didn't take up the offer at the time believing the deal would be better when i come up to…
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Starting a new pension when already retired?
Firstly, apologies if this is a stupid/trivial question, or has been already discussed - I've searched but not found it. I'm 58, retired, and in receipt of an occupational pension. We have no debt, a good mix of investments and I'm a basic rate taxpayer. With savings interest being so low, is there any tax-efficiency in…
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Two pensions
I have read the MSE guide to pensions and cannot find an answer to my query. I am fortunate I have a public sector final salary pension and a small private pension. I am 55 later this year. When my public sector pension starts I am entitled to take a lump sum on retirement. My choice how much up to set limits. I can now…
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SIPP advice
Hi guys, I am looking to start investing into a SIPP and was wondering if the process was the same as for investing in an S&S Isa? I.e. Choose a platform and open a SIPP Choose a fund that they offer and invest I'm looking to invest about £100 per month and was thinking about the Vanguard Life Strategy 100 for now…
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taking lump sum pension
I am 55 and want to take my lump sum pension, I have contacted my fund provider. And have received the necessary forms, one of which has to be filled in by an FCA registered financial advisor. I don't want advice as I intend to pay off my mortgage, the pot is around £35,000 after tax .£25,000. Do I have to pay an f a £450.…
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Previous employer pension switch
Hello, I find myself here because im completely cluless when it comes to pensions! I worked for Santander and left March 2014, a few months later i received a letter stating i had £800+ in a pension and what would i like to do with it. It says i can switch to another provider or receive cash, if i do the latter id only…
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Should I get a financial adviser to sort out a pension
I spoke to a mortgage adviser the other day, and he also suggested taking out a pension - which is something that i've been meaning to do anyway. He suggested that he could set this up for me, but takes the first 6 months of the payments. Do you know if setting up a pension is straight forward enough without the need for a…
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Setting up pension for 17yo nephew
hi there, am currently considering setting up some sort of saving scheme/pension for my 17 year old nephew, this would be funded from a small inheritance that is due within the next year. I don't want the money to be immediately accessible to my nephew as he will probably would want to spend it and want some time for the…
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Adviser fees - too high for our requirement?
Hi, Mum has personal pension pot of ~£120k, set up a few years ago when we got an adviser to help with a pension transfer upon her divorce. The legacy from this is a 1% ongoing management fee to the adviser, plus servicing fees from the investments held, totalling around 1.4% pa. Mum ~7-10 years to retirement. I am an…
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Pension start date question
HI - I am due to reach retirement age on 11th April 2016 but I wont get my state pension until July 6th - can anyone explain the gap please? Thank you
