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Company pension plan
Hello, I work in Germany and my company offers me a pension plan. I have several options of contribution and I would like to know which is the most interesting. My company contributes with 1% of my salary to the pension regardless of what I contribute. From my side, I can chose to contribute 0% of my salary, 1% or 2%; and…
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Are pensioners about to be shafted – again?
In Mrs May's article in the Sunday Telegraph, right at the end it states that 'she hints at a willingness to scale back pensioner benefits'. Now, while I would have nothing against 'pensioner benefits' being 'scaled back' for higher rate taxpayers like MPs, civil servants and high earners from the business world who amass…
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SIPP Pension Top Up: Carry Forward Rules
I'm considering topping up a SIPP pension by contributing some of my unused allowances for the last 3 years under the carry forward rules. I'm clear about the annual allowance calculation, but please can someone explain the total upper limit calculation, which is no more than your income in the current tax year. Is this…
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Voluntary Severance and pension.
I am 58, and have around 18 years in the Teacher's Pension Scheme. I have no other pension funds apart from a tiny amount in AVCs. My State Pension forecast shows 35 years of NI contributions, but some of that was contracted out, so my estimate up to April 2016 is £125.72, with the option to pay more NI contributions to…
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SIPPing towards retirement
Hi, I shall be 65 in April. Currently not working with £3,400 taxable income. I have applied to have marriage allowance transfer. After 25% tax free lump sum, I have £9,400 in a cash SIPP. I believe I can drawdown £8,700 and remain below my tax allowance threshold £12,100 for 2016/17? My wife receives carers allowance,…
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Pension lump sum query
Grateful for any advice on the following - I really don't know where to start! It's a bit of a long story I'm afraid. My stepfather died last year aged 76. He and my mum had their finances in pretty good order, having saved very hard In later years. He had access to a small monthly private pension and a lump sum that paid…
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How much into SIPP for low earner ?
Hi, I am looking for advice on a simple question; at least I think its simple..... My wife works part time and earns £6-7K/yr, she pays no tax. She pays £2880 into a SIPP and the HMRC top it upto £3600. I understand that she can pay her total earnings into her SIPP, but do the HMRC top up all of her earnings as if she had…
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Mixture of Contribution Types - Limits
Easy clarification re annual contribution limits please … Assuming no carry forward is available, I believe that if making personal contributions, one is constrained by the lower of their gross annual salary and £40K. However, if made as company contributions, it is simply £40K regardless of their gross salary. For someone…
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Mis sold pension claim closed by FSCS
Hi I wonder if you could help please? From 1983 to 1991 I worked for the NHS until our department was sold to the private sector. The NHS procured a financial advisor for all the affected staff and we were all told that our best option was to move our NHS pension into the new employers scheme and then move it back out, in…
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How much could I carry forward and should I?
Hello, here are the details: 2013-14: 14k annual allowance used (company defined benefit pension) 2014-15: 15k (DB) 2015-16: 19k (DB) + 14k (SIPP started, gross contribution includes 20% top up) 2016-17: estimate 16k (DB) + 15k (SIPP) Salary 60k. I have unused allowance, but whatever the amount is I can not use this to…
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BlackRock Consensus 85
I've been looking through the 348 different pension funds in Standard Life and fancy this one. BlackRock Consensus 85. My fund SL managed pension fund is at 181 a unit and BlackRock is at 123 a unit, so does this mean the BlackRock has a good chance of increasing to 180 a unit in the years to come?
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No Pension Age 42
Hi my hubby is 42 and has no pension. He has been self employed since age 16yrs. He is currently bankrupt after his business went into liquidation. Is it too late to start paying into a private pension? We can afford around £400 per month and over pay on our mortgage by £200. Im 34yrs old and have a bits of pension pots,…
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Financial Advisor Services and Charges
Hi I am self employed professional working thru Limited Company.I feel my accountants to be bit distant and uninterested in guiding me with finding best possible means of reducing my corporation and personal taxes by guiding me with pensions and/or insurances/investments. I too am not too very knowledgeable on this…
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Tracking DC Pension Investments
Hi there, My Final Salary Pension Scheme has just closed and I'm now in the new Company DC Scheme. The DC scheme is run by Friends Life. From day one there is the option to remain in the default Low Risk investment option, the "Annuity Focus..." something or other (which I'm told is currently doing rather poorly) but…
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NI contributions after pensionable age
My husband is 65 this year and will quality for his SP in July. He is currently retired, and living on his company pension. He has recently applied for a 2-year-fixed-contract job which is in the field of his own interest/hobby (lucky thing!) IF he were to get the job, would he have to pay NI contributions again. He will…
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Advice on Pension plan
hi all i am 38 years old and never had a pension, my work place has enrolled us into NEST and they will pay 1% into the pension i was wondering what the best course is for me i have a Help to buy Halifax ISA which i contribute £200 per month, a Santander 123 account which i use for my "savings" and direct debits and Lloyds…
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SIPP for child(ren)
Have already set up a JISA for my son - 19m old - aim is to max out contributions for as long as possible and hopefully he will use the ££ for higher education / property purchase etc in due course. Am considering a small trickle of money into a SIPP for him as well. Just because of the tax benefits and the very long scale…
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Tax Relief after finishing Work
I gave up work a few months ago, aged 63, and won't take anything from any pension until I'm 65. I worked for part of the current tax year 2016-17, earning c. £10k. Can I contribute an equivalent amount to my personal pension and get tax relief on it, even though I'm no longer earning? Does it make any difference whether I…
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pension recycle clarification
Hello again all, I am looking for clarity and assistance re the following situation. 1. Employer defined benefit scheme stopped 1st Jan and replaced with defined contribution scheme. 2. I have accessed the defined benefit pension payable from Jan and joined the new defined contribution scheme. 3. I am retiring from the…
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Obtaining extra NI years due to COPE - years short
I am now 60 and took redundancy in 2016. I was in a company pension scheme and have 43 qualifying NI years but a number of these were contracted out therefore my state pension earned so far is £138 because of COPE, instead of the £155 maximum payout. My state pension will start in 2022. I therefore have 6 years left to…
