-
Question about Independant Financial Advice and opening a SIPP
What is the difference between 1, Opening a SIPP (for example Hargeaves Lansdowne - medium risk) and 2, Going to an IFA and telling them that you want to invest in medium risk. I know that the SI in SIPP is self invested but there seems to be the opportunity to use pre-selected options when opening a SIPP making options 1…
-
How easy is it to transfer pension
I have 2 small DC pots total of £22k which I want to transfer into a single pension with a flexible drawdown access. Would the Hargreaves Lansdown or Aviva be a good option. Or any other suggestions?
-
Managing my mothers finances
Hi All, Pls Need some help with my mums finances - she is just over 60 and recently divorced We are looking for new home together in London - looking at buying something for the two of us to live in together for the next few years, and also where my family can come and visit. Also to set her up financially so she doesn't…
-
LGPS & advice on top up please
Hello I'm 52 and have basically had my head in the sand for years. I work part time hours in a school and have a LGP which is really low. I will be working for at least 15 more years possibly more. I had a small pension which I transferred to this pension from when I was in the civil service. Anyway my PROJECTED pension…
-
Short term membership of LGPS
I'm changing jobs in September. I am moving from full time work to part time in a different post. Is it worth me joining the LGPS? I may only be in this new position for a year or two.
-
Pension Recycling
Hi, From January I'll be receiving a defined benefit pension from a previous employer. I will be continuing to work part time, and contributing to my current employer's defined contribution pension from my salary. I've heard there is something called 'pension recycling'. Does this restrict how much I can contribute to my…
-
Teachers' Pensions - given up trying to understand.
I swear each time I log into my Teachers Pension it changes. I'm 45, have paid in 15 years and was originally hoping to log off around 55-60 years of age until they changed everything. It seems my NPA has swerved wildly from 67 to 60 and I think it is now 60. (However, it depends what you read as I'm a transition member.)…
-
UK State Pension - Payment Abroad
An extensive online search hasn't led me to an answer to the following: If one is resident abroad (US) and opts to have UK State Pension payments credited directly to a foreign (USA) bank account (in which case payment is then received in dollars) - what is the percentage fee charge for this transaction? Presumably,…
-
class 3a contribution
my sister who has no idea about finances came up with something i had not thought about and i think she is correct. you pay the government if 65 £22250 (think this correct figure) to get any extra £25 a week or £1300 a year, but like she said the £22250 has now gone, working it out based on a savings account of 1.5%…
-
State Pensions
Hello A few questions please and all help appreciated. My sister's state panesion age reaced several months ago 62. something - came to england in 1979, worked since and still is working always earned more than 14k - signed on for a year in 1990 and in work again and working still. She ws awared the basic state pension of…
-
claiming tax credits and cashing pension
Hello everyone I am self employed and make £4000 pa and receive £52pw tax credits, will this be affected if I cash in my pension at 55 Thanks Steve.
-
Opt-In at age 61?
My employer will reach their staging date soon, I'll be 61 & work part time & a non taxpayer (salary too low for tax/ni) but will fit in the 'choose to opt in' category (not opted in automatically). I don't need an additional measly monthly pension TBH, but weighing up whether it will be worth opting in for the few years I…
-
Discrepancy in Pensionable pay figure NHS
Hi All. My OH has received the NHS Pension Benefit Award letter today. The best of his 3 years (1995 section) was the year leading up to his retirement date 5th July 2015. We presumed that Pensions would calculate his Pension on the 365 days from his retirement date. However there seems to be a discrepancy between, the…
-
Buying Commerical Property with Sipp! (Business from home)
So, I run a business from home selling things. Can I use my SIPP to buy my home? Would it be classed as a commerical property?!
-
Despondent about Annual Allowance changes, other options to pensions?
I saw an IFA yesterday and feel quite despondent now. I am divorced and in the divorce settlement my ex-h got to keep the pensions. As I earn significantly more than him (but only recently, not long term), I was deemed able to start saving again from scratch. I also had to buy him out of a portion of the house so I have a…
-
TFLS positioning for safe near term access
I am planning to take my £150k TFLS from DC pension (£600k value) before April 2016 crystallising that part of my pensions. The help I would appreciate the forum's input on, is how I spread it for access over the following 5 years until my NRD and DB schemes come into payment. I am assuming I will use £30k immediately in…
-
Avoid Tax overpayment on Pension
Hi. I expect(Hope) this is a straightforward Q with a straightforward (Ish) reply. I am retired with no income and my partner & I share the bills --- Her from rental income & pension (She also has her own home), and me from savings. I am now 2 weeks away from 65th B/day, so have now decided to take some action re my…
-
Request for agency transfer
My wife has recently appointed a financial advisor to help with her pension pots. He has just sent her a letter which he has asked her to sign and send back to him. The letter states the following: Dear sirs, would you please accept this letter as my authority to transfer with immediate effect, all servicing rights for the…
-
Transfer DB to DC and cash in on £15k pot
Hello All, I am now retired with one reasonable Annuity and several small ones plus the state pension and some savings. Anyway I have a £15k ish pot in a defined benefit scheme (from 1974-1980) with L&G who have been offered several annuity options none of which appeals as I want the tax free cash and to pay the tax on the…
-
pension help - final salary AVC (USS)
Hi all, I'm contributing to USS and am currently in the final salary section. This scheme is coming to an end next year, which means our 'final' salary is the salary at that point, not at retirement age. Since I am fairly new in this career (age 33), I'm hoping my salary will continue to rise past this point. Along with…
