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Compensation from pension provider, accept first offer?
Hello everyone, I'll try to keep this short. I left company A and moved to company B in terms of my job, I later received a letter from company A's pension provider informing me that I needed to transfer out my pension or risk losing it in 4months. I spent about 6weeks researching the best options and ended up going with…
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Equitable Life Payment Scheme
Completely unexpectedly a letter was forwarded to my husband in the name of his first wife (deceased) dated March and saying that policy holder may be due a payment. On the form to be filled in was an option of 'if the policyholder has died'. My husband and I thought it was a scam to begin with, it seemed so strange, but…
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£250 month into a pension?
I have £250 a month to invest over the next 5 years until age 60 but won’t need to access the funds until age 65. The only one of my 3 existing pensions (NEST, Prudential & Friends Life) into which I can contribute is the FL scheme, but I was wondering if the 1.0% AMC meant I might find better value elsewhere. I have…
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lump sum or yearly
I have a defined benefits pension just come due, where they are offering me a lump sum alternative (which they call triviality!) In round figures it's 600 per annum, enhanced 5% every year, or 20K gross lump sum. Excel tells me the breakeven point is about 20 years. I'd have thought the lump sum would be the better choice.…
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Put More money into ISA or Pensions?
I am age 60 and working my wife 58 not working We have approx 150K in various cash ISAs and 100K in my 2 pensions. We want to retire in 2-3 years. We put most spare cash into ISAs and only £50 month into one pension. With such low ISA interest rates should I put more money into pension? Or even transfer some ISA money into…
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AVC - should I transfer out
I am in a DB pension with AVC attached to it. I asked our pension admin about the AVC last year and they said I had to buy an annuity with it at the same time that I retired with the DB pension, or I could transfer it into a separate pension. I estimate I will have 20k in AVC when I plan to retire at 55. I've been trying…
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State Pension & NI Payments
My partner hasn't paid NI since the birth of our son in 1993. Think she will have been paying it since she was 16 though till 93, maybe 16 years in total. How do we check what she's paid in? How does it affect her state pension? Can we address matters if state pension is reduced because of lack of NI payments?
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Changes in how Barclays calculate CETV
Barclays has written to me saying that the way they calculate the benefits of the 1964 retirement scheme is changing. 'Transfer values are calculated using actuarial factors and assumptions determined by the schemes governing documentation and legislation. Those factors are changing from October 1st.' I asked the question…
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Higher rate tax and LGPS?
This may be a stupid question, but would appreciate if someone would clarify for me. I earn just under the 40% tax threshold. At some point this year I am due back pay which will bring my earnings for 15-16 to around 49k. I pay into the LGPS and for this year 1/2 my gross salary into a linked AVC. When the backpay finally…
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Taking a reduced lump sum, so more monthly pension
Is there an easy way of working out how much of a reduced lump sum I need to ask for to get so much pension per year? EG I am offered a £30,000 tax free lump sum and a pension of £4550. What tax free lump sum should I put down if I want £6500 pension per year. I am useless at maths. Also as I will continue to work how much…
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Similar Funds
My DC pension has the following funds available for investment: SSgA MPF Balanced Consensus Index Pn SSgA MPF Global Equity 50:50 Pn Inst SSgA MPF International Equity Index Pn SSgA MPF UK Equity Index Pn I am considering moving the pension away and was looking for some ideas as to what were similar products (in terms of…
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How to compare pensions...please help???
Please could give me some advice. I currently work for the local authority however, my job is being privatised therefore they want to change our contracts from 1st September. I have been told that I won't be worse off financially however, I won't receive the benefit of a local authority pension or discounted childcare I…
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PhD/EngD Stipend Pension Planning
Hello. I have recently been accepted to do an EngD with an exceptional London university. I have managed to get full funding for the study and will be receiving a yearly tax and NI free stipend of £19,000 for the four year project.. I am currently 24 years old, and will be just shy of my 29th birthday when I complete the…
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Late retirement of GMP after 2016
Hello I have been searching for a while now to try and get some info on how GMP increments in Late Retirement will work post the changes coming to the STP in 2016, or indeed if there will be any changes. Currently members of our scheme can take late retirement and providing they have put off retirement for more than seven…
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Do we have enough for Early Retirement
Hi all I have been following this board for a while with great interest as my husband is approaching 55 and he would want to retire early. Our financial situation is as following: Husband d/b pensions £30.000 per annual when take out at 65. state pension sipp and ave: £100,000 Myself part time job earning £800 a month -…
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Spouce's Pension Gone ?
Hi, My Father -in-law died recently (17/7/15) , he had a small pension with Legal and General. They informed us that his wife would receive a small pension or a one off payment of 7K. Unfortunately she also died on the 29/7/15 - They are now informing us as the next payment date wasn't until 11/8/15 the pension is now…
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IFA recommending I take transfer value for DB pension and invest elsewhere
I took early retirement last year at age 54 and started drawing my pension from my then employer. I also have another pension pot with a different ex-employer, which I was going to start drawing when I hit 55 later this year. Separately, I have approx 250k currently invested in a number of funds. I met the IFA who set up…
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Alpha or Partnership?
Hi, I'm starting a job soon where I'll have the choice between the 2 civil service pension schemes, and just wanted to check that I'm making the right choice for my circumstances. I'm 43 and will have a starting salary of just under £34k, with the likelihood of this increasing to £40k+ after a couple of years. My only…
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LGPS and State Pension
Hi all, i have a LGPS and am heading for State Pension at the end of the year. Can someone tell me how they affect each other? I cant get any relevant info on the SP site and would appreciate some advice on what happens when i draw my pension. Also on the SP forms i dont see any category on LGPS so do they automatically…
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Old pensions, new pensions and a Sipp? Advice neeeded.
Hi, I have just accepted a permanent role at a company afterspending 2 years contracting through a Limited company. Happily they will contribute 8% of my salary to a pensionplan and I am looking to top it up by roughly 12% (to 20%) on a monthly basis. I’m nearly 32, a higher tax payer and a married father ofone (possibly 2…
