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Aviva say no cash alternative to defined benefit pension ?
Hello all, My wife has a "type of defined benefit"!!! Their words to her....they won't talk to me ! pension from Aviva with... Open value option £67k Yearly pension £4.5k They have told her no cash option at all is available, so she must take the yearly pension whenever she wants. Is this correct, or are they just chancing…
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inheritance tax
Hi all, my mother who is a widow (since 1976) is now sorting out her will and wondered whsat the amount she can leave without the government getting their hands on it. I was under the impression because she is a widow it was 2 lots of 300K = 600K. But then someone said that the new tory government has increased it to 1…
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Pension provider - default option
Looking for some thoughts on below... Joined company pension 5 years ago in 30s and until recently did not realise contributions were being put into cash. Apparently this was the default fund until 2014. (When FSA? made the provider change the default to some fund with lifestyling). Correct me if I'm wrong, but I think I…
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Topping up private pension
Hello all I'm 60 in November and plan to retire, although my pension isn't massive I plan to take my 25% and drawdown until I get to 66 Question is, I have a bit of spare cash, is it worth putting some in my pension to get the tax relief of 20%
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pension company refusing weekly employer contribution
I am a temp. My employer is a temp agency. They have been paying weekly into my standard life pension a pension contribution. Standard Life have told them to stop this and told them they can only pay by monthly direct debit. They can't do this because some weeks I do not have work so they do not pay me, so now I am losing…
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Claiming back tax when retiring?
Hey guys :) My mum is retiring in September and her last shift is this Sunday. I have a question regarding tax. I have a feeling that tax is worked out on a yearly basis (April to April) and then the amount deducted from wages each month is an equal share of that? So far from April - now my mum has earnt £5949 taxable…
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Government access to pensions
Is recent legislation to allow access to pensions a good thing? In all honesty it won't affect me personally as I am db scheme however I see a trend towards people with pots £50000 and under intending to cash in / drawdown etc. I know the circumstances are different for all but that £40 -£50 extra could make a difference…
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alan
I am in the process of claiming my state pension and in the info provided the Contracted out Deduction (COD) amounted to a weekly sum of £100.65 this split between my private pensions of £15.46 and £85.19 weekly.How do I know if I am getting this COD amount in my private pension there is no indication in yearly…
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Recent £2880 Investment
The only income my wife has is her state pension, after taking advice from this forum we put £2880 in a Virgin stakeholder pension for her. Last week the HMRC contribution of £720 was added to the pension. I am now thinking about closing the pension and taking the money. Are there any rules I should be aware of when…
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Planning a funeral
My wife and I would like to pre pay for our funerals to save our children the expense etc.. (We hope not too soon) we are both 'humanists' does anyone have any advice please as to cost, best services, contacts etc? Thank you.
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Suggestions for Investment
Well after a year of wrangling, much cost to FA's to no avail, the Pru have finally paid me my 40K pension. Any constructive suggestions where to place it? My mortgage expires next year and is covered by pre planning of investments. Thanks
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Delays from Actuarys
Hi, I've been trying for over a year to get a Trivial Commutation estimate for a small pension, but keep getting a reply from the Administrating company that the Actuaries are still considering their policy on this with regard to new legislation. It seems they can just continue to fob me off with this, is there anythingI…
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Dismal
So it appears my investments are down about 7-8 % across the board . Apparently it's ok . Not going to check for a few weeks and with luck will be back stronger . Gulp !
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Choosing a financial advisor - What to look out for??
I'm a newbie to professional financial planning particularly for pensions. I was contacted by a company offering to advise and implement solutions for pension, mortgages and life assurance. I appreciate advice doesn't come free (actually I thought it would, with providers paying commission but apparently not?!) but how…
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Blocked from Transferring DB Pension to DC… Opinions Sought
I am a 53 yr old male looking to take early retirement at 55. I have a deferred DB pension that I would like to transfer to DC, so I can access it flexibly to meet my needs at 55. I have received a CETV (valued at £350k which, as others have mentioned, appears to be very generous at the moment). I then contacted an IFA,…
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Putting money into pensions rather than savings
Having lurked on these forums for a wee while now, I am well aware of the benefits of putting as much as I can into my pension, as I will get tax-relief on the payments, etc. However, with the current volatility in world markets my pension is of course being affected. In the past week I have seen the fund drop by around…
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Second State Pension Issues
I am coming up to retirement in the next few years and decided to get a pension forecast. Whilst the basic state pension component is correct the second state pension part in my view is totally incorrect. It covers a period when I was not contracted out and I estimate that it should be over £20/week. The figure I have been…
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Retirement Planning
I want to test out my plan for retirement. When I reach 65 I will receive a DB pension worth in the region of £1,500 per month. Then when I reach 67 I will get at least £500 from the state. I consider £2,000 per month way more than I need and a lot more than I have disposable now after I have paid the mortgage. I also have…
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Information about a policy
Hi, I have a policy with Aviva "Life and Pensions UK Limited With-Profits Sub Fund" that has a long history. I believe it originates back to around 1980 when it was originally a Norwich Union plan. Each year I get a statement from Aviva plus I occasional get letters. I was told a few years ago that this policy had a…
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Help needed
My new employer are offering to pay £250/months into a pension of my choice (they are currently not offering a pension as standard) as part of our negotiations. I have accepted the job and they have no asked me who they should make the payment to and I was wondering if it is something I can sort out myself or I will have…
