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Enhancing state pension question please.
Hello again. Can anyone please advise as to the following? In June/July 2015, there was mention on Radio 4, that people who are missing NI contributions could buy extra units to help make up the shortfall. It was said that if £700 was paid for each missing year, this would enhance the pension when taken, by up to £200 per…
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Surely Pension always beats overpaying mortgage
Want to check my logic here....may have got it completely wrong So imagine I have £1000 and have to decide whether to pay into Pension or pay off mortgage If I pay the £1000 into Pension AVC I have saved 20% Tax and 12% NIC as do it via salary sacrifice so in effect £1000 has cost me £680. This £1000 will then be invested…
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State pension query
Hi...as my S. pension is paid every 28 days, I get it earlier each month. Does this mean that during any given year I will get 2 payments in the one month?....ie 13 payment per year? thanks.
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Workplace pension
Interested in your views.my wife is 60 yrs old, and is on basic minimum wag part time hours earning aroung 7k year. her employer, a small shop is offering the new pension at 1% on the whole wage, and she hopes to stop working at her state retirement age of 66. is it worth bothering with? My view is yes as although she will…
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just in case - Mark Garnier gaffe
in case anyone else heard Mark Garnier and wondered........... http://www.thisismoney.co.uk/money/comment/article-3478101/JEFF-PRESTRIDGE-Pensions-farce-worthy-great-Mr-Ayckbourn-Osborne-drops-plans-cut-tax-relief.html "Yesterday, Mark Garnier, an influential member of the Treasury Select Committee, said on Radio 4's Today…
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Is this a sensible idea?
I currently have a matched share scheme at work - I buy one , work buys one. Initially I was just going to let it build up over my career and then have a nice little pot in say 30 years. After all it would have to more then halve for me to be worse off! However as I read regularly on MSE you should really always diversify…
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Quick question on LTA and how it works.
I have a total pension that will effectively be about £1.075m by 5th April which will be over the new LTA. This consists of both a DB and DC pension. The DC part is worth about £120k. I am 55 towards the end of March and I am thinking of crystallising the DC pension by taking £30k before the change of LTA so that I use a %…
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Personal Pension versus SIPP
I'm trying to figure out if I would be better with a SIPP or personal pension. My circumstances: I am self employed (so no employer scheme available). I don't need any fancy investments (regular stock market funds are fine) and I dont think I need any of the extra information that pension companies provide over SIPP…
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How To Claim Extra Tax Relief
A friend of mine has been contributing £100 a month for around 10 years into a personal pension with an insurance company (not sure which one). He is a higher rate tax payer. I've seen on here that you have to claim the extra tax relief. He was completely unaware of this. How does he do this and how many years (if any) can…
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Accessing pension at 55
I work for Glasgow City Council and we have been told we cannot access our pension till we are 60. How come everyone else can access at 55? Is this legal ?
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Advice on pension managers/suppliers?
Hi I currently have a stakeholder pension with Aviva via HL and want to move to a different provider as I'm not at all happy with their communication (Aviva, not HL). Aviva once took about six or seven weeks to pay in a cheque that I'd sent and the reply from Aviva was that this was because they were "busy". Now they have…
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Transferring away from Virgin Stakeholder 1% fee
I've had a Virgin Growth Stakeholder (index tracker) pension for many years. No payments in for several years. I've seen comments that their 1% fee is far too much, so I'm looking to transfer somewhere else, probably another index tracker - something that gives me a similar (or better) performance but with much lower fees…
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State pension - buying in extra credits?
From 1975 up to around 2004 I had an unbroken work life, where I contributed without break into the system. However, since then I have had a succession of temporary/contract work interspersed with periods of unemployment, some of which I claimed for and quite a lot which I did not. How can I find out how much I have paid…
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Unused allowance carry forward
Hi Quick question on carry forward of allowances once the new taper for those earning over 150k comes in from April. If ones allowance is just 10k for next year due to earning over 210k, would one still be able to use the full unused allowance carried forward from last three years? Thanks
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Pensions: George Osborne to drop tax relief plans
http://www.bbc.co.uk/news/uk-35732604 thank god for that.
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Leak contra leak
Fear of a referendum backlash is my guess. http://www.theguardian.com/money/2016/mar/04/george-osborne-backs-down-on-radical-pension-reform
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Which pension is best for self employed workers?
Hi everyone, Just wondering which pension self employed workers pay into, I'm 33 and starting to panic!! Many thanks, Sara
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Deferred IFA
Hi, Been here before but was derailed due to unforeseen circumstances. Am intending to visit a local IFA this month, is there a check list for everything I need to take with me please? My pension begins next week but may take a while to come on stream. I have a SIPP and investments, so will be taking all that paperwork…
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State pension upon death
My uncle sadly passed away last year. The solicitor dealing with the estate is proving slow and impossible to contact and I'm hoping someone here may be able to shed some light on what should happen in this situation: A year before my uncle passed away, my auntie, his wife also passed away. She was eligible for state…
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Final Salary V Career Average
I know absolutely nothing about pensions except I have always paid into to what the company I work for offers. However I now have a decision to make for the first time in this space. I have been in the CARE scheme for 5 years. My company offers the opportunity at 5 years service to join the Final Salary scheme however this…
