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Reassure - ludicrous charges
My OH has 2 very small pension pots, which were originally with Barclays, now with Reassure. He decided to cash them in under the new rules. Fair enough, but Reassure are going to charge a fee of more then 10% of the pots. The figures are not very high, but even so this is a total rip -off. Unfortunately, as we have moved…
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Deferred Final Salary and Impact upon Annual Contribution
Hi I've tried looking around the HMRC website but can't seem to find anything to fit my situation. During 2014-15 I became a deferred member of a Final Salary scheme. In 2015-16 I work for myself via a Limited Company. I intend to have contributions paid from the Limited Company into a SIPP but will the annual allowance be…
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Financial retirement planning
I'm retiring early next year, when I'll be 58, money isn't a problem, but I am starting to think over what assets that I (we) should hold at a particular age, as I start to get older? To get the ball rolling this is my rough outline plan, I was wondering if some posters might comment on it, as I am just in the early stages…
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Pension vs. paying off debt
Hello I am 31 and have just started a new job with a much larger salary of £57,500. My employers have auto enrolled me onto the pension scheme (I've never had a pension scheme before) where I will pay 8.5% pension contributions so that takes about £200 off me each month (it's actually about £400 they take but tax relief or…
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Deferring Section 32 pension
Although still in work aged 67 and not in need of my Aegon S32 pension (pot £77,000), am I now at the point of giving up valuable benefits? Latest statement quotes GMP of £9000 (pre and post 88 combined) and am advised that increase is 1/7% per week or about 7.5% pa. If I defer for another year I lose £9000 and start next…
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My Pension arrangements - opinions please!
Hi all, I’ve been taking the opportunity to spend a bit of time looking at my various accumulated pension funds. May be some scope for some consolidation/rationalisation here, but before I go and seek out an IFA, I thought I’d post what I’ve got, in case anyone here has any suggestions, or indeed can point me to any…
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Transfer pension funds ?
Hi, I'd pension funds (scottish widow) of around £6500 from my previous employer and with new employer around £14000 (Legal & General). Consider me I know nothing about pension funds my question is - 1. Is there any disadvantage in moving funds from my previous employer pension company to new ? In terms of any fees or…
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eligibility for new Class 3a top up?
OH is 65 in January 2016 so just misses new minimum pension rate. In fact he is self employed and will still be working full time after he reaches retirement age next January. Is he be eligible to buy an increased pension under the new Class 3a scheme? Or does it only apply to pensions payable under new scheme ie for those…
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Paragon IPO 9 year bond paying 6%
I am 58 and have a final salary pension. My wife is 57 and has a SIPP worth a six figure sum. I have made all the investment decisions about the running of the SIPP and investment. I do not have an IFA and i am happy to make my own decisions. The SIPP is invested 100% in equities. If suitable I can run the SIPP untouched…
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Transfer Old "Paid Up" Funds into a SIPP
Hi Once upon a time in a galaxy far far away many a long eon ago I cleverly bought into a private pension with Lincoln Insurance and contibuted a lowish amount into it every month. A couple of years later my mind was possesed by the dark side and I decided I'd rather spend that money on holidays and other ephemeral gubbins…
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Primary beneficiary died - retiree pension options
Hello all. This is my first post and hopefully a helpful one. The pension system is very confusing so I need some help. My wife passed away And she was the primary beneficiary to my pension here in New Jersey. I am presently receiving a monthly pension check. I spoke to the lady who handles the pension benefits and she…
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final salary nightmare!!
have two main good pensions when I retire in November..Also have a small (26000) final salary pot which I want to cash or at least take as a flexi drawdown annuity, which I intend to exhaust in the next 2/3 years(tax allowance allowing). seems most financial institutes wont touch it. "pensionexpert.com" seem to be able to…
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Any way to avoid going to an IFA?
I have a section 226 Retirement Annuity Contract which has a guaranteed minimum pension. I am now looking to utilise this plan. I've been investigating my options and concluded, given the currently raised transfer value [now over £100k due to gilt yields being what they are] that what is best for me (bearing in mind my…
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Old trival pension pots
Hello all, I have two small pension pots from previous employment, one with friends life with around £650, and the other with Aviva with £2,000. What's my options for these? I'm around 37 years from state retirement age. Is there any way to release the trivial amounts?
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Had a good or bad experience with pensions advice or guidance?
MPs in the Work and Pensions Committee are holding an inquiry into advice and guidance for new “pension freedoms”. If you’ve recently decided what to do with your retirement savings, the Committee wants to hear from you about any advice or guidance you were given - or thought about taking. It also wants to know if anything…
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Pensions - HELP
I have paid in to a company pension for 12years in my current company (a superannuation) I am now being made redundant. As my new employer is setting up a whole new business nothing is currently in place with regards to pensions. I have no idea where to start (as I have only ever had one job since leaving college) and…
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Cheap final salary to drawdown transfer?
I have a 150k pot made up of several company pensions including two FS ones at £50k each. My personal circumstances (no spouse, no dependents, heart condition) dictate that I need to move this money into a drawdown scheme along with other investments of the same value so that it becomes inheritable by my 3 children,…
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BT pension of 9 years
Hello,I know it is not much but what would I be expecting to get in 4 years ? i was at BT for 9 years and I am getting pension fever so if you have a similar length pension how much do you get Tahnk you I was a lines man did not get to t1
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Pension advice needed
I recently contacted my Pension company (Formerly Scottish Life but now Royal London) about my Pension. I signed up for the Talisman Personal Pension Plan back in 1991 and my retirement date was last year but I took a cash lump sum of 25% in 2012. I am currently being paid a monthly Pension amount. I contacted them…
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Pension contributions over cap - big tax liability coming?
Curious one this. I work in the NHS, and have a works pension, which is final salary. Rather unexpectedly, I got a letter from NHS pensions telling me that I had made £58k of contributions last tax year, and that I need to report this to HMRC as there may be a tax liability. I'm not quite sure what has happened, as my…
