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Budget
So no changes to tax relief, PCLS, lifetime or annual allowances or salary sacrifice. I will be interested to see the details about this new lifetime ISA for homes and retirement with a 20% contribution from the government. I wonder what restrictions there will be in terms of when you can access the money ?
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Has the FCA got teeth?
Has anyone ever complained to the Financial Conduct Authority about being given misleading advice by an IFA and if so was it successful? Just about to lodge a complaint about an IFA, actually mainly about his firm's Compliance Dept. Thanks in advance x
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Royal London won't let hubby increase deposit amount, help please
Hubby set up a pension with Scottish widows now Royal London. His maximum contribution was set at £150. He stopped paying in (this was before meeting me) anyway finances are all now in order and I've asked him to start paying in again at £500 pcm. They have told him they won't allow a penny more than the original without…
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Bonds in a Pension Fund
Does anyone invest in Bonds? (In the pension wrapper.) Is that a good way to stabilise a pension fund in the short term? Anything better to suggest? I have started a SIPP at age 71 for the first time (no other pension apart from UK state pension). I am interested in very low risk as I don't want to be stuck with a drop out…
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returning to UK to retire - any financial traps ?
Hello, Newbie to this forum. Have put house on market and when sold will move from Australia to UK in order to escape hot summers and be closer to wifes family. Anybody want to buy 20 acres in paradise ? There is a massive amount of publicity and advice and assistance for people moving from UK to Australia, QROPS is a big…
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Carry Forward Impacted By Contributions 06/04/2015 to 08/07/2015?
I've used my £40K contribution limit for each of 2014/15 & 2015/16 but made no contributions in 2013/14, so presumably should be able to make use of carry forward to allow me to make up to £80K contributions during 2016/17. (These are made direct from my own company so limits should not be constrained by my salary.)…
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Retirement savings
Hi Just want to know if I’m on the right lines with my rough plans. I can retire from my current job later on this year and I’ll be just over 51, so I aim to carry on working, albeit in a different role/organisation for a few more years yet. I could always stay in my current job but I would still have to pay pension…
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HMG/Local Gov Pensions Apr 2016
I'm sure everyone who receives am HMG or Local Gov pension realises there will be no increase come April 2016. Why is this? Well they use the inflation figure from Sep 2015, and this time it was less than zero. That means no increase! State pension will be going up by 2.9%. So there we have it. I would like to be wrong on…
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40% Tax code relief
Hi, Just wandering if someone can confirm my tax code revision for me? I've read the other thread but it seems either its wrong or I'm failing to grasp (most likely). I've over contributed to the pension for the year to maximise the relief, (as I worked it out based on what I would earn accounting for the 3 weeks before…
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Final Salary / Defined Benefits Transfer Out
I work for a company that has a number of so-called "final salary" schemes which are closed to new members. New staff have to join a defined contributions scheme and buy an annuity at the end of it. In point of fact, our pensions are no longer "final salary" by dint of the fact that a few years ago they were first capped…
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Trapped Pension Money
Hi, I paid into a small private pension pot for a few years, it's a small amount just over £8,000. The investment wasn't growing well and after receving the latest report the Company has actually lost money overall. It is somewhat strange that with all their expertise and resources that I would have been better off placing…
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Pensions for self-employed
Hi everyone, Sorry if there's already a thread about this, I couldn't see one, but would anybody be able to fill me in on what sort of pensions are best for people who are self-employed please? Thanks, Jo
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Share Radio
I was rather pleased (living near to Coventry) that Share Radio has just gone national on DAB. There is a lot of discussion concerning pensions and may be of interest to the posters here. It is great having a talk radio station focusing primarily on business and financial issues.
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State Pension reduced for me
Hi I completed a form and sent it in to find out what my State Pension will be when I retire. It came back stating £105 per week - based on 27 years of NI contributions - and that was up until 2014/2015. I contracted out of SERPS many years ago and I am 55 in October and have two personal pensions. Past 3 years I have been…
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When should I stop pension contributions?
Looking for some advice on pension contributions - wondering if I am thinking about my situation the right way. I've been in work 7 years, and I've been fortunate enough to have enough income to invest in my pension. Age: 27 Pension value: £70k Current employer contrib: £13k (base amount, employer doesn't match contribs) I…
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free half hour
I am thinking of looking online and picking a IFA who does a free half hour. I have a works pension,a Bond 32 and 4 other pensions all of which I would like advice on. Will half hour be enought? If not any suggestions. Also What information would I take on first visit?
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Grans Lump Sum
My 86yr old gran gets a pension of roughly £148 a week from the government. She also gets her late husbands pension from the coal board of £255 a month, then a extra £171 every 3 months on top. Today she received a letter from the coal board offering her a lump sum of roughly £19k, which is taxable etc She has no savings…
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Pension Tax reclaiming via P45?
Hi all, hope somebody can help - I'm helping my Dad with his options for retirement, he's 67 & currently earning 26k a year, plus his £10k state pension. He has a Pension with Aviva, with a current value of 34.5k. I just had a chat with TPAS & Aviva, & I was informed he may be able to draw the whole sum out (which would…
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Is this good advice?
I'm 61, my wife is 60 and we have retired. After taking my 25% tax free from my pension pot it leaves £150,000. We have other collectives and cash totalling £400,000. We want to expend the portfolio by taking £35,000 pa until we are 85. We realise the years between now and state pension age are going to be expensive until…
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Exceeding £40,000 annual allowance
What happens when a £40,000 allowance is exceed in a tax year? Does the Revenue & Customs apply a penalty at the moment the amount reach £40,001? Does the Revenue & Customs automatically calculate the cumulative total under n preceding tax years? Is it left for the individual to make a case to the Revenue & Customer that…
