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Why am I paying trail commission ?
Briefly - back in 2009 I had a hotch potch of personal pensions which I had been paying into over the years. I had a meeting with the IFA connected with my accountants and he advised putting them all together in one private pension with Skandia - which I agreed to. I had one further meeting, which I think was about 2011,…
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Financial Adviser pension investment... can I get out?
I saw a financial adviser at the end of 2013 and he advised me to transfer the two pensions I had into one. He set up a 'platform' for a pension investment, taking a hefty 5% set up charge (I know this is probably normal but seemed like a lot of money to give away.) The financial adviser assured us that this 'fee' money…
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Farther on State Pension and Pension Credit and now going into a home.
My father revives a state penSion and pension credits, he is now going into a home and the home says he has to pay £200 to the bill of the care which isn't an issue. But I've been told by relatives he will loose all his pension income, is that correct?
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Is it possible to "lose" some State Pension?
I've been deferring my SP and last week made a claim by phone. The woman dealing with my claim said it was lucky I'd called on a Wednesday as my "pay day" is Tuesday and that way I wouldn't lose any SP. Surely folk don't lose a small part of their entitlement by claiming on the "wrong day"? The only reason I called last…
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Lost Contracted Out Pension
When I turned 65 I was informed by state pension I was due my contracted out pension and should get in touch with my private pension provider.This I did sending them the info provided by the state pension people but it seems as my pension scheme went bust they do not have to take account of any contracted out payments.Just…
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Shortly to become a "pensioner"
Hello, I become 60 this month and have a small council lump sum and pension which I have chosen to take from my birthday rather than deferring. Can anyone explain to me how/when I will receive this? Not actually on my birthday I presume, but rather on some pre-decided day each month? I can't get to grips with the idea of…
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Pension Funds Performance Comparison Information
Hi All, Just coming out the other side of a bad 'advice' experience, so I'm looking for a new home for my (and my wife's) SIPP pension pots ... is there somewhere I can look up funds performance figures? Ideally looking for a decent and reasonably priced fund where we can just leave the pension pots to do their thing ...…
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Questions to the Secretary of State for Work and Pensions – 9 May 2016
On Monday 9 May, MPs asked the Secretary of State for Work and Pensions questions relating to pensions. What steps he has taken to increase the number of younger workers subscribing to pension schemes. What assessment he has made of the effect of state pension reform on gender inequality. If his Department will introduce…
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inherited additional serps pension
I have received a revised state pension breakdown to advise of the new weekly figure. the letter from DWP states an amount of £79.60 is the total additional state pension inherited from my wife but when looking at the extra amount to my previous advice it is only an extra £17.90. Talking with the DWP they say that there is…
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Small pot pension
I have £8000 with friends life. I am Age 60 Dec 2015 with no state pension until 2021. Should I redeem this small pot and put int savings or leave it where it is or something else? Not working and don't need the money but I just want to do the right thing.
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State pension question
My mother who is 72 currently receives £98 a week state pension. This to me seems very low, she worked on and off but spent a lot of her years raising her family. She is married but my Father is currently terminally ill. Will she receive more once she is a widow plus does anyone know why it is currently so low. I read…
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Pension lump sum or increase pension
My frozen benefit pension becomes active at the end of the month. I opted for a smaller lump sum & increased pension and sent off the forms in April. However my personal situation has changed and I think it's better for me to take the full lump sum & smaller pension. Can I do this, by contacting my old company's pension…
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Gaps in NI record whilst full time student due to minimal income
As a full time student in my late teens, I did some small jobs during the summer holidays and earned a very small income. As a result, HMRC have ignored the 'full time student' part and considered the year a gap in my NI record. My official record shows: 2002-03 - Year is not full You have contributions from > Paid…
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State pension general questions & Advice
Hi folks, This last few days I have been looking over my mums state pension and helping her sort it out - we are in the process of making the claim. My mum reached pension age 4 years ago in March 2012. But she has deferred (not claimed it so far), until now that she has decided to do so. But we have a few questions and…
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Shortfall in NI contributions
Will try to keep this as brief as possible: my husband is almost 56 - now working full time. For many years he was self employed and we also lived abroad for a few years. He has gaps in his NI record - received a statement last year and currently only has 15 years' worth of contributions. He is planning on working for the…
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Can't afford a pension
I will try to keep this short. I have a Scottish widows pension with about 12k in it. I went in to teaching at 26 and paid in to the teachers pension for about 5 years then took a break as I needed the extra money. I'm unsure how much that has in it. 3 years on I am about to return to work after having a baby, moving house…
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Personal Tax Account -PTA
Everyone has a personal tax account. https://www.gov.uk/personal-tax-account If you have verified yourself on .gov.uk you can see how your tax code has been arrived at and adjust it if incorrect. My tax codes changed, incorrectly, and by logging on to my personal tax account or PTA, I corrected the mistake HMRC had made…
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On-line State Pension Forecast confusing
Hi, I have just logged onto my HMRC account and looked at the State Pension forecast. It seems to show what I have pasted below. Does this mean that my Basic State Pension with my current contributing years so far is £136.55. I thought this was a maximum of £119.10. I was contracted out to 2009, and in since then. So I…
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How long will your savings last?
Or, more accurately, at what rate can you spend them without seeing them run out? I'm sure I not the first to have asked themselves this but unless I'm the last person in the world to realise that the answer is actually remarkably simple, perhaps this might help someone else out there. I've seen on line calculators that…
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Consolidating work pensions
Hi all, I have 3 different pensions: 1. Standard Life, which I contributed to for 2.5 years through an old employer 2. Friends Life, which I opened myself and have about £12k in it however I stopped contributing when I started with #1 3. Aegon, which is my current work place pension which I contribute through work every…
