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HL SIPP vs ReAssure personal pension
I have 2 pension schemes. 1. Personal pension in ReAssure (formerly M&S Financial services, then HSBC which transferred it to Reassure to date). Current value £70,000. Annual charge 0.7% (though impossible to work out stealth charges). Invested in International Managed Pension Fund and UK Balanced Equity Pension Fund…
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Pension transfer help
Hi, I have a final salary pension from an old job i left in 2009. It was worth £2700 when i left and is now worth £3100. The transfer value is £40,100. I'm 35 and have a new pension with a pot of £25,000. Is it worth tranfering the 40k or leaving it as the final salary? Thanks with any help
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Timing of SIPP payments
Can't find a specific reference to this! We have a lump sum of £20k available, so I'm planning to open a SIPP for Mrs T. She is currently also in the LGPS and earning about £33k pro rata. As she is 53 - a SIPP appeals as an additional savings vehicle and a way of maximising tax relief (albeit basic) to be able to access…
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LGPS - 2yrs study - NHS pension
Hello, I currently pay into a Local Govt Pension Scheme. I intend to take 2 years out to study for a change of career before resuming a higher paid job in a different sector: NHS. Please advise if I have to 'port' my pension over - or freeze it and start again? I am 51 years old and do already have 32 (out of the 35 yrs)…
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What We Don't Know...
Here's the secret life of the money in your pension pot - it will make you angry.... http://www.independent.co.uk/voices/heres-the-secret-life-of-the-money-in-your-pension-pot-it-will-make-you-angry-a7008676.html
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Grab sal sac while you can?
http://www.moneymarketing.co.uk/issues/28-april-2016/treasury-shelves-salary-sacrifice-crackdown-over-brexit-fears/
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Pension forecast
I got a pension forecast under the old scheme, which IIRC said I qualified for the full basic state pension plus £12.50 additional state pension, about £125.60. I applied for a pension forecast under the new scheme and the figure is £138.94, with a Contracted Out Pension Equivalent (COPE) of £16.71 per week. I was…
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25% tax free of pension pot
Hi There, How do you work out what your total pension pot is and therefore calculate your 25% tax free pension pot. On my statement it shows my pension at 60 is £14,499 plus pension supplement of £1338. It also shows me maximum lump sum of £72809 which would reduce my pension to £10,922. Any help greatly appreciated. Thanks
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phoenix life annuity quotation
Hi everyone ,my wife is about to draw her PP from Phoenix Life on 22nd of january 2016 she had this quotation Total Fund -£20,383 inc. former protected rights of £12,409 Annuity quotation for FPR £932 single life or £698 if lump sum of £3,102 taken Non Protected Rights £625 or £468 if lump sum of £1993 taken Phoenix Life…
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Pension choice = L&G equity V Pru with profits
Hi All, My first post so go easy on me! From June my employer will offer 2 options for my pension contributions. Historically they and therefore I have invested into Prudential. From June I have the option of switching existing and future investments into the Legal and General. L & G World Equity Index Fund Or Pru with…
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Triple Lock on the New State Pension
The triple lock on the New State Pension is supposed to rise every year in line with wages, prices or 2.5%, whichever is highest. Does anyone here know if that is 2.5% compound or just 2.5% flat of £8093 pa (or £156.65 a week) added each year....?
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Pension options
Hi, I'm a newbie and would like advice on the following sceanrio. Retiring this summer at age 60 with a final salary pension without reduction. I have been given two options:- Option 1: Pension £17k pa plus £50k lump sum Option 2: Pension £14k pa plus £100k lump sum Future final salary pensions to follow: 2017: £4k pa (no…
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Is there a best time of year to retire?
I have a plan to retire a few months after my SPA, which is reached in March 2019. There are some work reasons why it is best to retire in September but I'm wondering about whether there is a financial 'best time' to go. And of course there are other reasons to go at various times of year, such as a good time for a…
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Pension Option on Redundancy
My wife has 2 parts to her existing Money Purchase Pension sceme. She is due to finish from work shortly on Voluntary Redundancy and was looking at transferring her Money Purchase value to a SIPP so she could stagger withdrawals to avoid tax over the next 8 years prior to receiving another final salary pension at age 65.…
