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Final salary question
Hello This sounds a bit thick but when the media goes on about a ""gold standard pension" being two thirds of final salary do they mean gross salary or net salary. Also does this two third figure include state pension? Thanks
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Continuing to pay into a pension
I have a DB pension and a DC pension. I am thinking of crystallising the DC before the LTA is reduced (i.e. Take the 25% tax free.) Is there any penalty? I seem to recall someone saying that my future annual allowance would be reduced to £10k. Is that true or have a got that wrong as I want to continue to contribute beyond…
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Increased pension contribution vs pay rise
Hello, I hope you can offer some help. My husband has been offered a pay rise. He said to his employer he'd rather have increased contributions into his workplace pension. He earns £54k and his employer only recently started the work place pension at the end of last year and currently only puts in the minimum % that he has…
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Budget changes: did I miss an announcement?
http://www.telegraph.co.uk/finance/personalfinance/pensions/12182776/Millions-of-middle-class-savers-could-lose-out-under-radical-pensions-shake-up.html Although it's still liberally sprinkled with "could" and "is expected to" and the like, this seems to indicate that we will have pension ISAs with a 20% uplift. Does…
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Aviva for draw down
I have a £100000 pension pot and am 56. I don't work but have other investments which are taxed at source. I need a simple place to put the money - 25%, so I draw on it until its depleted without paying tax A lot of people I have discussed this with seem to want to charge quite a bit yearly amount whereas Aviva, form what…
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confused!!!
I'm trying to work out how much I need to save to live comfortably I'm 37 want to retire at 60,i currently earn 28,000 a year
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Maxing out my SIPP this tax year
I can contribute another £6,500 (net) this tax year, which is £8,125 gross. If I do it in the next week or so, the additional amount claimed (the 20% pension tax relief) will not actually appear in my SIPP until the next tax year. But I don't know which tax year it would actually be counted in by the inland revenue? So my…
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Advice on SERPS/State Second Pension please.
I am due to receive my state pension for the first time in 3 days after all these years of paying NI. I have done my pension forecast for years and it always says I will receive some money from SERPS and the state second pension, the last forecast last year said I would get £35 odd per week. Now I have finally got the…
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The Death of Retirement
The title of a report published by Royal London on 15 February 2016. It warns that "today’s workers will be forced to work into their late seventies and beyond if they want to enjoy the same level of pension as their parents’ generation". If workers only contribute at 8% of salary, the minimum required under ‘automatic…
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25% Cash in & Re-invest
I'm under the impression that with the budget looming this may be the last month where people over 55 will be able to take up to 25% of their pension as a lump sum without suffering tax. Now what's to stop me taking this amount out now, hold it until the new tax year and re-input as contributions and get another round of…
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some money to invest about 80k new pension
We have some money to invest about 80k, at the moment is sitting in a standard saving account. We are early 40’s with no pension both self-employed. Ideally I would like to put money into different pot/areas. Rainy day fund 10k, pension 10k, long term savings 10K and BTL 50k. I cut a long story short we had been looking…
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Unsafe harbour
http://www.pensions-institute.org/IRRISummary.pdf "The customer will choose from a set of safe harbour products approved by the regulator. The purpose of the decision tree is to identify the products that are most suitable for meeting the customer’s needs. To be feasible, any default pathway using a decision tree would…
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State Pension. Is it worth paying a lump sum for extra cash
I'm 68 in June and due to a chronic childhood/lifelong medical condition so while I've had jobs here and there I was never in them long enough to built up a good National Insurance record. My main income over the years has been DLA, various sickness benefits and income support of one sort or another. Today I got a letter…
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Old Pension
Hi, I took out a private pension in 1990 with Cannon and Lincoln and contracted out of serps. It has since changed companies to Lincoln and and then Sun Life of Canada. (i assume they bought each other out because I havent transferred them) The latest statement I have shows : Personal Pension £1400.21 invested in Bal Man 3…
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Zurich private steak holder pension
I am 28 and past 3 years I have been in the work arranged Zurich pension fund. Currently putting in 20% of income (7% from me 13% from company) which is the upper limit the company will contribute. Now, that's were my knowledge ends. I logged in the other day just to check all contributions are being made which all seems…
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house trust fund
My parents are 79 and 82 years old and are thinking of putting their house and finances into a house trust fund primarily to avoid any future possible care home costs under Scottish Law. Anyone got any experience or advice on this matter? As i understand it they become trustees of their own trust with named beneficiaries…
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Teaching Pension- Moving Council Employer
Hi, This is my first post on mse forums. I have a question, hope you can help me. My wife has worked for two different councils as a teacher and we are hoping to move soon, she has made superannuation contributions with both councils. We are looking at moving in the near future and she will be looking for work in the…
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Stakeholder question?
If you were 20,on a stakeholder pension paying 6%,which the employer matches but doesnt go above 6% Which way would you go about paying extra in,straight in the main pension,or avc payments? Not for me for 20yo son,i assume hed be better trying to put more in now when he has spare cash,rather than try to do it when with…
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Private Pension lost money
Hi I wonder if anyone can give me some advice, I have a private pension that I have paid into for a number of years (I'm self employed). It had a value of £18,800 last year, this year even after taking into account my monthly payments and tax relief it only had a value of £17,500 (they state a loss of £2,700 taking into…
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What's included in pension annual allowance?
I'm a higher rate taxpayer with a personal pension that I've been regularly contributing to for about 15 years. I'm considering making an additional payment into the pension before the new tax year, and want to calculate the maximum allowance over the last three tax years. I realise I need to deduct the gross amount that…
