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UK Pension in Turkey
First sorry, this may be a duplicate, search does not work on my phone. My recently widdowed step-mother needs to txfr over deceased hubby's contributions to make a meaningful pension, currently she gets 8 a week. Problems are, current pension goes to husbands uk account, she has no uk account. How complex or expensive…
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LGPS added years contract
Looking for some more advice please. I am about to be made redundant and draw my LGPS. I haven't yet received any correspondence from the pension section but reading around it appears that as I am buying added years from pre 98 ( 1/80th) I should be given the option of buying the remainder of the added years contract. Is…
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Work pension and a SIPP
I know I will need to contact my pension provider for a definitive answer but before I do that thought it was worth asking here if what I would like to do would be possible! I work for a large ftse100 company and I pay into the defined contribution pension scheme and they contribute. I have a SIPP that I nolonger…
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State Pension
I will be of pensionable age in 4.5 years time. I have been contacted by HMRC informing me that I am not entitled to a pension. For the following reasons. A: Being a merchant seaman, I was contracted out. B: all other times that I was in either low paid or self Employed work I was below threshold for contributions. They…
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Retirement Account or LISA?
Hi Just this week I sent the form off to my employer's pension organiser to start contributing to the retirement account aspect of my company pension. I've never paid into this before, and decided it was probably time to start doing so. However, now I've heard about the LISA, I'm wondering if that would have been a better…
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Annuity set up charges
Hi all I have a few pensions with Royal London that i was aiming to take when i reach 60 (about 20 months from now). Some of these have a guaranteed rate of 7.61%, so my retirement planning has been using this rate. I contacted Royal London to find more info at an early stage just to reassure myself that all is in order. I…
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How do I make voluntary National Insurance Contributions?
If this is the wrong section please move to relevant one. I was asked by my mum to look at what contributions I had made and since I've been self employed and low earning they have been paid for me. However there are two years where I was paying it but it said it isn't a full year. If I complete these two years then I will…
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Multiple Non Contributory Pensions?
Have a couple of old pensions from previous employers one worth about £25K and the other about £40K.... My new employer has a decent scheme that I have joined and am contributing to. Should I leave my old two pensions as they are or transfer them into my current scheme? Any advantages/disadvantages to leaving them as they…
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SIPP Carry Forward Contributions
Is it OK to use the carry forward allowance if the individual didn't have a SIPP until this tax year, but did have an employer pension for the past 10 years? If looking to use past years allowances is it correct to only count the employer and individual contributions or also any government contributions in the form of tax…
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Would you use mortgage debt to fund carry forward relief?
I'm a higher rate tax payer and have not used up my pension tax relief allowances over recent years. I've also got an interest only mortgage with about £150k paid off and £150k to go. I pay 1.99%. I can get immediate access to the £150k I've already paid and it would still cost me only 1.99% - cheap money. I'm now…
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Sipps rip offs?
I know its the sun newspaper,but how do people get talked into withdrawing their entire pension pot,and then investing it with some company in a overseas forestry deal? I cant understand it myself but it also says as many as a million of the 1.2 million sipps will have dodgy investments in them,i find this very hard to…
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Taking the annuity route when retirement comes.
Can anyone tell me please if deferring an annuity is a common practice? Similar to the state pension deferments. If a person was to fix an annuity at age 55 with their pension pot at the time and defer starting to take the pension to age 65 they would benefit from life expectancy rates at the time of fixing the pension…
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Transfering money from AEGON pension whilst still paying into it?
Hello, I have a company money purchase pension with AEGON. I pay into this each month and I've built up a 5 figure amount. The fees on this are 0.45% a year - which is not too bad - but I can reduce that by transferring it into my SIPP. I've looked at the AEGON account and it is not clear how to transfer the money to…
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Pension Blunder
My wife was due a small pension from a large company she worked for a while ago, she decided to take a lump sum payment and was told by letter that this would be paid into the bank account on the 24th March as this was their payroll payment date. On the strength of this we had some new windows fitted at our home (just…
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Pension transfer problem - advice please
Hi, As per the title, I'm trying to transfer a (very small) pension between two schemes. I worked for a company for about 8 months last year before deciding the job wasn't for me. During that time I accrued a minimal amount of pension deposits. As it seemed rather pointless keeping the money with them, I decided I'd move…
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Helping our daughter
Our daughter, aged 32, is in her company pension scheme at the maximum amount, but we know it is no where near enough. It is a salary sacrifice scheme and she and the employer each contribute 3% (although it shows up only as an employer contribution). The employer will not contribute more. The scheme is in Scottish Widows…
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Creating a Trust for our house
We have been advised to put our house into a Family Trust with myself, my husband and two children, 45 and 43, as Trustees. We have been told that this will allow our children to sell the house when we both die (hopefully not too soon!) without having to go to probate, We are also keen that should the worse happen and one…
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SIPP tax refund timing
Hi, I am planning to contribute a fairly significant sum to my SIPP this tax year, just ahead of the deadline. I am a higher rate tax payer so I believe I get a refund directly back from HMRC to 'top-me up', in addition to the direct bonus I get when I contribute to the SIPP. My question is this - when and how does this…
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Sipp
Hello -my wife and I have several old pensions which we don't contribute to. I wondered if it was possible to transfer these into a SIPP and buy a commercial property so the rent can effectively start to build the fund again.- Any guidance much appreciated.
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NOW Pensions: bad news? Stay away?
I am in my company workplace pension through NOW Pensions. I haven't been in the pension scheme that long but already my pot seems way below what has been paid in. A co-worker mentioned to me about some negative press they'd read on NOW Pensions so I did a bit of goggling myself & constant negative feedback after negative…
