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Prudential
Anybody dealt with these ? Do you have to pay them to go to drawdown ? Rang and was told only sell through ifa's
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Trivial/Commutation
Hi, Q. 1 I have 3 small pots £28600, £2444 and £287. As these total > £30000 total (this figure IS ? correct/cast in stone), I can only take the two small ones totally in cash. True ? (How would the £28600 one know about the other two if I said nothing ?) Q. 2. The £28600 pot was a S32 buy out. There is a pre 4/88 (none…
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Merge multiple work-related pensions?
I've moved jobs over the years, and now have about 7 or 8 separate pension pots with the various employers. My question is - is it worth paying an independent financial consultancy to consolidate all of these into one and for them to advise which one that should be - or should I do it myself? I got part-way down this road…
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Taking a pension as two small pots
I have a small pension of about £12500 that I would like to take in two lump sums, say £4800 gross using up £3600 tax allowance this tax year, and £7700 gross using £5775 tax allowance next tax year, but the current pension provider allows only buying an annuity. Can you pensions experts please advise me on other pension…
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Pension - totus capital
Hi - I just wondered if anyone has an informed opinion on Totus Capital. They contacted me and stated they have taken over my Standard Life pension fund. I contacted Standard Life and they said this was so. I invested in 'nucleus' that Totus offered me and also deposited another small pension with them. Within 6 months on…
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Paying £2880 into pension when retired
Jamesd wrote in another thread the following: "She can make £720 a year tax free by paying 2880 net into a pension, having it grossed up to 3600 then withdrawing it. Can only do the withdrawing part from age 55. Can only pay in for this until age 75." I have just retired at 60 and have transferred my DC pension to a new…
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Missus fed up of work.
Yep, she has had enough, but she wants to maintain an income. She has ten years to SRP age, and has 35+ qualifying years giving her £125 a week. From a job she left many years ago she has a deferred defined benefit pension, it will pay(now) £1650 pa plus £11k lump sum or £2150 pa (index linked min 3% max 5%) The transfer…
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Adviser - worth it or not
My pension with my provider has performed well over the last 5 years and increasing, although I have a monthly withdrawal (pension). The company who was a IFA, handled my pensions on retirement and collected all as one into a collective retirement account with a provider. This has performed satisfactory without any…
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Compelling reasons to transfer a DB pension
Amongst all the other reasons cited on here, I've just realised that one of my DB pensions only gives my contributions back to my wife/widow of I die before NPA. I'm not planning to but it's a risk that I am definately not happy with
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Annual Allowance Exceeded - What to do now?
From 17/18 my unused annual allowance will have gone so any pension contributions I make will be subject to 45% tax. Am I being naive in thinking it's still worth contributing to my employers workplace pension. I pay 3% and they top up to 20%. Then I pay an addition 3% which they match. So, in total I get 20% contributions…
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Pension vs Mortgage - am I right?
Hi, I suspect I already know the answer to this but would welcome the thoughts of the experts on here... I have an outstanding mortgage balance of £32K and am currently paying £1500/month (overpayment of £1000/month). The interest rate is a very low 1.49%. My mortgage will therefore be paid off in approx. 21 months - which…
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Gifting of property advice
Hello All Unfortunately, my father suddenly passed away over Christmas. My elderly mother is still alive and fairly healthy but today she talked to my brother and I about wanting to move into sheltered accommodation, managed by a local housing association. Dad used to look after all the maintenance issues on their 3 bed…
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Help me to understand my pension charges...
...please! This is Scottish Widows. I know I should really call them but a) it's a bank holiday and b) I think I have a better chance of understanding someone here. So I'm in a workplace group personal pension scheme. I got a letter stating that they've abolished the 'inactive' fee, and the fees are now capped at 0.75% if…
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4 pensions - which to draw down from tax free??
Hello, I'm posting on behalf of my husband (57). We are in the process of purchasing a second buy to let property to provide an income when we retire in 14 years. We want to release just £10,000 from his pension fund (to stay within lower tax bracket) before April and don't know whether to take one amount from the larger…
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Pensions - Lifetime Pension Limit - How close !!??
I currently hold both a local government final salary pension and a SIPP. I've stopped paying into the final salary scheme as I am no longer employed by the local government. My SIPP I haven't contributed into now for around 2 years due to my concern over reaching the lifetime pension limit. Although my SIPP is only…
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FS pension increase question
The company i work for pulled the FS pension in 2006 each year on the statement telling me i preserved benefits etc the figure has only increased by just over £600 in the last 10 years, I dont know what any transfer value would be of this FS pot however with the company admitting a increase of nearly double in underfunding…
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Conversion of small pension
I am retired with 3 small occupational pensions. The provider of the smallest of these pensions has written to suggest I might be eligible to convert this small pension to a one-off lump sum. However, the HMRC rules seem crazy!! (I understand that tax would be payable and this is not the issue.) If the combined pension pot…
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Musicians Union Pension Scheme
I am a music teacher that works both for a council music service PAYE and privately on a freelance basis. My income is about half and half from each. I am 30 years old. With the music service I pay into a Teachers Pension Scheme, I am looking for another pension to top up from the money I get from freelance work. I have…
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?mis-sold FSAVC
I worked as a nurse all my career from 1978 until last year. In 1994 I met with an advisor from RCN Membership services and I ended up taking out a FSAVC to top up my pension. I had taken back 4 years superannuation in in 1983 and I was told this would be a good way to supplement my pension. The reason I now feel I was…
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Share Incentive Scheme (SIP) and retirement
My SIP allows income tax at marginal rate and Employee National Insurance contributions to be kept upon retirement together with the one free share for each two purchased. Benefits above would be lost outside of five years would be lost when leaving the company save for retirement. What does "retirement" mean in this…
