-
Increase salary sacrifice - stop mortgage O/P's??
Hello all, Last year, following some excellent advice from people on this board I convinced my DW to persuade her employer to start a Salary Sacrifice scheme to boost her pension contributions. Since July 2016 she has been sacrificing £1666.00 per month (20K pa) into her companies' DC scheme. Her employer already pays a 6%…
-
Share Incentive Plan to Pension?
I have one of those SIPs at work where you pay a certain amount each month to buy shares and the company gives me 2 extra for every one I buy. From what I've read, to gain the best tax advantage I need to hold them for 5 years. If I sell after 3 years I pay tax on the original purchase price. We also have sal sacrifice at…
-
Seld Assessment and pension contributions
In the last tax year I made a £24,000 contribution (plus £6,000 tax relief) to my SIPP in addition to ~£6,000 paid in to a company pension scheme by my employer. In the tax return, section 4, I have to enter "Payments to registered pension schemes". Am I right to assume this excludes the company contribution and hence in…
-
Can I make LTD Company contributions to existing pension plan or must I setup anew?
I am a Limited Company director with several legacy pension plans from various providers. I want to save money for a pension. I understand it is advantageous to make my company make contributions for me. Now, all I need to know is, can I make contributions from my company into one (or more ) of my existing personal pension…
-
New tax code now that I receive State Pension.
Hi all. Just thought I'd clarify what's going to happen here. I've recently started receiving my state pension - SP date was in December 2016. I'm expecting my first payment near the end of Jan 2017. I've just received my notice of tax coding and my tax code has been calculated so that I will pay, between now and 5th…
-
retirement and investment advisers
Hi. I am in my early fifties and hoping to retire in about five years, depending how things go. I have well funded occupational pensions (both DB and DC), and a similar value of independent assets. I need to start planning for retirement. It's a very complex topic and I want to get some professional advice. There are…
-
Pension - investment fund advice
I wish to self select my investment fund/s for my company based DC pension as opposed to the using the default ‘fund’. I know that this comes with an element of risk hence my post here. There are 8 funds I can chose from and can invest a percentage in any of them. I have listed the name of the fund and the sector it is in:…
-
Investing in SIPP
I am looking to maximise income for my early retirement from February 2018. I have a LGPS and work part time earning 12k per annum. It has been suggested I would benefit from investing in a SIPP this tax year and I am considering investing £10k (maturing regular savers this month from FD and Lloyds Club) in a SIPP and it…
-
Final Salary Pension Cash Transfer and IFA charges
I have a deferred pension payable at age 60 (4 years time) and have been offered a transfer value of £850k. Having never used an IFA before I am speaking to three next week and wondered what sort of charges I should be paying for the advice and subsequent setting up of a SIPP(?) if appropriate. 1.25% -3% seems to be what…
-
HL SIPP fees.
I have just opened a HL SIPP with the first regular contribution due to be made on the 7th (9th). When setting up the account I chose an amount to be contributed monthly and chose to invest this whole amount each month in a fund. I understand that fees are worked out at the end of each month. How should I pay these fees?…
-
Gettinga 2nd pension + other questions?
So I currently pay into an NHS pension as well as a S&S ISA, should I contribute to a 2nd pension an AVC? Also when my OH retires (we are not married) will he automatically get his state pension or will it be down to my income/savings etc?
-
deferred state pension
Hello, asking for some general advice please. I reached State Pension Age 3 years ago, and deferred. As I understand gov.uk, I still get an increase of 1% for every 5 weeks of deferral (the rule about 1% per 9 weeks applies to those who reached pension age after April 2016) Gov.uk gives no indicator as to a limit on…
-
Prnsion
Hi I'm 57 and have been taking a works pension for about 4 years. The pension is part of the governments PPF. I'm now paying 40% tax on this small pension £300 per month. How or what can I do with this pension so I don't have to pay tax. I don't mind freezing it or anything as I don't need the money at this time. Or am I…
-
GAR Not wanted
I have a Personal Pension fund that I need to transfer to my main pension funds held in a SIPP. However there is a Guaranteed Annuity attached to the fund so unfortunately it comes under 2015 pension regulations which say that I must have an IFA sign a "Safeguarded benefits - confirmation of advice given" before I can…
-
Confused over drawdown
Help please! Having been self employed for many years I paid into Prudential, small amounts as that's all I could afford. At the age of 61 I understand that I have choice over what I do with my pension and Flexible Income Drawdown seems the best option to me as I would like to take the first 25% tax free as cash to do help…
-
Fidelity Retirement Planner
Hi Folks, I was wondering if anyone form the UK has been able to use the Fidelity Retirement Planner? https://www.fidelity.com/calculators-tools/planning-guidance-center When I try to register it asked for Social Security details which I obviously dont have. Is there any way around this? Thanks
-
Regular Saver or SIPP?
Hi, Each year I pay £300/month into First Direct's Regular Saver. This is due to mature later this month, at which point I would usually reopen another one and repeat. I just got to thinking that maybe I would be better to pay this regular amount into my (small) SIPP for the 25% uplift and potentially better investment…
-
Saving in SIPP to pay off mortgage
This question has been prompted by something suggested in another thread about the advantages of paying into a pension instead of paying down the mortgage. It has made me realise (thank you OP) that I am missing a trick. I wanted to double check that I am on the right lines before taking the plunge. Our situation is that…
-
Alpha EPA vs Added Pension
I am a member of the Alpha pension and I also have 14 years service in the PCSPS Classic Scheme. My current retirement age is 67 and I am looking to go early. I have looked at the options of buying a three year EPA or buying added pension to buy out the actuarial reduction if I go early. As it isn't currently possible to…
-
Inland Revenue and pension payments
Hi, when I first opened my private pension, the man in HL told me that if I paid in above and beyond my earnings for the year, I would get a letter from Inland Revenue about it. My current position is that I got bullied out of my last job and experienced a lot of mental health problems because of the bullying. I'm now…
