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Deferring state pension that has been taken?
I believe you can defer your state pension once if you have been taking it. I also think if you can defer a state pension taken several years ago, seven to be precise, then it will increase by 1% every five weeks. Is this correct and who does one contact to defer? Once deffered how do you restart it, can you ask for a…
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55 Conundrum
Hi all, I'm 55 in August. My situation is this. I'm in a final salary pension scheme which closed down 5 years ago. I paid all my previous pensions into this, bar a Scottish Widows one which was topped up after a mis-selling thing which I can't move. My final salary pension was at it's max payout when it closed (33/60ths)…
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tax repayment
lump sum payment into sipp close to end of 2015-16 tax year - 20% tax to be claimed back from hmrc by sipp administrators - this payment wont be received from hmrc and credited to sipp until late may - for IP 2016 purposes need to know value of "pot" as of end of 2015/16 tax year - would the tax repayment be treated as…
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Purchasing annuity with proceeds of property sale
We will be getting some detailed financial advice in due course, but can anyone help with some general guidance? My 77 year old mum has never paid into a pension and although she has always done a bit of work to supplement her state pension, she now wishes to stop work altogether. She owns a property worth approx £130K and…
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Has anyone here done this?
Take cash from pension pot ----> put on emergency rate tax ----> withdrawal treated as if it's the first one ongoing monthly payments (instead of the once-off it actually is) ---> tax code 1000L M1 ----> thousands of pounds of tax overpaid......... Fill in P53 form to reclaim overpayment. Has this scenario actually…
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Silly question on pension allowance
I realise that the pension allowance is £40000 a year. Provided I earn that is that the amount of cash I can put in, or is it the amount that is net of basic rate of tax, so I can only put in £32,000 (ie. [EMAIL="£40000@80%"]£40000@80%[/EMAIL]) thanks
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Protected Rights Pension
I have just turned 55 and wish to take a lump sum from one of my pensions. This is a 'Group personal pension plan' (Personal Pension with profit) and it states it is 'Former protected rights'. I believe this is the SERPS pension and was started when I was advised to contract out. My question is, if I do take a lump sum, or…
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Pension Transfer
Hi folks, I work for DHL I'm not financially able to pay into their pension scheme, but I currently have a frozen pension with Zurich, is it worth transferring it to the company pension, if I can, or leave it where it is?
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Transferring a pension
Hi I looking for some advice as to whether moving my pension is the best option. I have a Talisman plan which I've had since the 90's. I recently enquired about a payment holiday and was told that I could have a holiday of 12 months but for that I would be charged 0.02% of the premium value every year until the policy…
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Moving pension to Uncrystallised Funds Pension Lump Sum (UFPLS)
My mother has reached retirement age and one of her smaller pots she would like to take the lump sum option of withdrawing 25% / Uncrystallised Funds Pension Lump Sum (UFPLS) each year for the next few years. The current provider doesnt offer this option. I am currently investing moving it to Hargreaves and Lansdown plus…
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Retirement.pension.saving help
I am 57 have 215000 saving and 126 pension pot and want to retire.Need advice on how to handle savings and pension. Looking at setting up pension with draw down and perhaps income bond with some of savings. However my friend said not to touch pension til 65 . Also I was thinking maybe to put some of saving into pension…
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State Pension
Good morning Just joined the site and wanted to ask a question. I've done a check on the HMRC website and the info given is that my wife and I will both receive £155.65 when we reach the required age. Is this correct ie a combined total of approx £310 per week or is there another figure for married couples? Thanks for…
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Auto-enrolment and/or salary sacrifice
My employer has a staging date of October 2016 and I want to make the most out of the options available to me. I am a basic rate tax payer. As I understand it, from October I will be paying in 0.8% of my salary, the government pays 0.2% and my employer 1%. So a total of 2%. I guess the 0.2% from the government is the tax…
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Tendering your pension?
Hi Someone has told me today, that you can Tender your pensions to get a better rate? Has anyone ever done this & how do you go about it? Yours Confused!
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Moving DC Schemes - What should I consider?
Hi, I appreciate you can't give specific advice but would welcome any thoughts/comments on the following: I have a small (£45K) DC pension invested in Scottish Equitable Blackrock Aquila 75/25 Equity & Bond Index Lifestyle (on advice of advisors appointed by my company). I have just changed company and the new pension…
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Nuvos advice please
I work for the Civil Service and have been in the Nuvos pension scheme since November 2012. I reached pensionable age on 10th April 2016 but plan to continue working until April 2017. I am still paying £59 per month into the scheme. I have been told that my continuing payments will not add to the pension but will be paid…
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Increase DC pension contribution vs overpay mortgage?
Long time reader, first time poster - thanks in advance to anyone taking the time to read or comment! Not sure if I should have put this in pensions or mortgages! I'd like to sense check my thinking on this please! I am 41, with a DB (CARE) work pension. I also have a private pension set up - not AVC with company pension…
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Am I missing something?
This is so simple (to me) - but Pensions Expert doesn't understand my logic .... so, over to you to either show me the error of my thinking or to confirm that I understand what I'm doing! I'm in a DB Pension Scheme. This scheme is about to close to future accrual. I am able to draw on the Pension now if I wish - with it…
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Cope question
Hello After turning 55 I requested a state pension forecast which I have just recd. It states I have 38 qualifying years of NI contributions (all contracted out) that gives me a wkly pension figure above the basic rate. It then goes on about a COPE payment & seems to indicate this is paid as part of my workplace pension. I…
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New Rules - £60,000 Pension
My wife is 55 in a couple of months. Her pension is worth £60k with Standard Life. We stopped working a few years ago (I am older) and we have planned our retirement with 2 modest rental properties, my private and state pensions. So we want to take all her pot and I thought as she only uses £3,500 of her annual tax…
