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Should I move this pension
I have a deferred DB scheme pension I understand that normally these should not be moved but as I am not married with no dependants maybe it is a better idea to move it as it will be lost if I die/only live for a short time once in payment I am 56 years old and also have a drawdown pension pot of £196k - I am not drawing…
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Pension and employment and SE
I am about to take early retirement/ voluntary redundancy, and have been offered a part time post elsewhere. I have also been offered a bit of freelance work. I am 60. Have I understood correctly that I can pay up to 8000 net, 10000 gross into a personal pension while drawing my DB pension as long as I earn this much…
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Saving for a Pension when Young and Changing Jobs
Hi all, I'm normally pretty savvy with understanding finances, but there's something about pensions that I've never quite understood. My wife and I are 24, and my wife is about to start back at work this month after coming off maternity. Nine months ago I managed to get into a graduate job and we're doing quite comfortably…
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COPE/COD and SP
The pension calculations show I will be paid under the old (existing) rules. My sp starts in July 2016. I'm guessing any COPE calculation does not apply because this is what the document explaining the State Pension says: "If your COPE amount changes will this affect your State Pension amount? We take your COPE amount into…
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ITV prog tonight on pensions and benefits
Basically comparing current well off pensioners and prospects for the younger to retire highlighting the recent financial times tweet that an average 25 year old should be saving 800 pcm to retire as well off as current pensioners. I have every sympathy for those in early life looking at the prospects of working to 77…
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GMP transfer to drawdown
Hi I hope someone can help My wife has a small pension 20K in a GMP pot and wishes to transfer it to a drawdown pension, does anyone know of any companies that will accept these transfers? FYI she is 55 in May Many thanks Tease
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Cash in Small Pension
My husband has two private pensions. One is very small, the other is not. He will work beyond 'retirement age' which he hits this year. We are intending to cash in the small pension (about £23,000). The other pension (the much larger one) will continue with monthly contributions as long as he is working. We haven't decided…
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Redundancy £30k
Just a quick question on the £30k redundancy that is supposed to be tax free.... I know we are not taxed on it as such but does it act as income during the year such that if I earned an additional £20k during the year and the higher rate point was say £40k that I would get taxed 20% on the first £10k of my additional…
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Pension Expression of Wish and children
Is there any financial benefit in including children on an expression of wish form for a pension rather then just requesting 100% to go to spouse? My children are both currently under 18 if that makes any difference?
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Water industry pension release
Please can somebody advise me? I have a small final salary pension (c £800 pa) attributable to a couple of years' employment with a water company when I first started work 30 odd years ago. It's payable in 10 years, when I'm 65. I was pleased to find last year, when I asked for an up to date pension estimate, that the…
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Advice please work place pension.
hi, just looking for some advice please i am currently in work place pension, having checked my statement on line i would only have £12,827.44 on retirement, this seems very low i am currently 46 paying £4.52 per week and my employer puts in 10.9%. i work 20 hours a week due to been also a carer for my daughter. can anyone…
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State pension now means tested?
I have been sent a leaflet by the DWP explaining the state pension changes, and warning that I need to notify them of any changes to my circumstances, including: change in earnings, other income, capital or savings of myself or wife. But I didn't tell them anything about income or savings when I claimed the pension, so how…
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State Pension Question
I'm 48 and I have paid 31 years worth of national insurance contributions, 25 of those were contracted out. If I don't work again until I reach retirement at the age of 67 (this will rise I'm sure) how much state pension will I receive?
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Pension drawdown & IFA
I have a couple of pensions from employers many years ago, I turned 55 in January and requested my pension options packs Phoenix Life of £61k that will provide £3,211 per year now Fidelity for £71k that will provide £1,770 per year at 65 but cannot be taken earlier. I have calculated that I can get a better return by…
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German Pension - What Are My Options?
Hi, So I worked in Germany (Berlin) for about 15 months (October 2013 - January 2014) and in this time was contributing to the state pension. I believe the pot is approximately 6000 euros. I've tried to do some Googling regarding getting the money back so I can invest it here in the UK but am finding it very confusing.…
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Payment of staff deductions to pension scheme
Hi After noticing in February that my employer had failed to pass on two salary sacrifice deductions (July and August 2015) to my private pension I ambelatedly taking a very keen interest in pension regulations! I notice that my employer has up to the 22nd day of the next month to pay money over electronically. Can anyone…
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Insurers will be Forced to provide savers with income information
At last, if the Gov goes ahead with their plans insurers will be FORCED to provide savers with with details of the annual income they could expect to receive from policies with GARs attached. The Department for Work and Pensions said: "This will mean some members with GAR benefits who were previously required to take…
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Paying in to more than one pension
Hello I am looking for some help in what to do with my pension pots. I am 54 and currently no plans to retire until 67. Until recently I was paying into a Scottish Widows stakeholder plan with my employer. Current value is £39000 and is in Pens Portfolio 2 and Pens Portfolio 3. It has been in Lifestyling since 2012 so it…
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State Pension leaflet
My husband and I have received the notification letters for pension 'benefits' from April and I have read through the new leaflet included (BR2189 02/16). The leaflet is specifically for State Pension, so I am puzzled by the list of changes that they require reported. Some are obvious, like change of address and death,but…
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Retired mother worried about small pension, advice please
Hi I’m after advice for my Mother if anybody can help, basically she is worried what would happen if anything happens to my Stepfather. She recalls that my Father was supposed to make payments on her behalf a long time ago and didn’t and so her state pension is short. At present my Mother and Stepfather own their own…
