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Lgps
Hi, I will be 60 in June 2017 and am planning on taking my deferred LGPS. About 90% is covered by the 85 year rule, according to my calculations I would only lose something like £200 pa by taking it at 60 rather than 65, so no point in waiting. How soon should I notify them that I wish to take it? Also I have a small AVC…
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Early Retirement- An Investment and drawdown plan
Hi All This is my first post, I have read quite a few recently on approaches to portfolio structure and drawdown. I would like to get some feedback on whether members more knowledgeable than I think I am broadly along the right lines. I have played with cfiresim which gave me some comfort but I wasn't able to model exactly…
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Defined Benefits Scheme - felling a little nervous...
Hi I am in a DB scheme at work. As with many DB schemes going back over the years companies have tried to mitigate / reduce liabilities etc, etc. My company is no different. They closed the DB scheme to new employees years ago, employee contributions have been increased, the effect of any pay rise is limited to 1% in the…
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Consultation on Indexation of GMP in P.S. Pension Schemes
Has anyone contributed to or read this consultation? https://www.gov.uk/government/consultations/indexation-and-equalisation-of-gmp-in-public-service-pension-schemes/consultation-on-indexation-and-equalisation-of-gmp-in-public-service-pension-schemes It gives three main ways to deal with GMP and indexation after some…
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Equity Release rules
Hi i wonder if someone might be able to answer a Q I'm having trouble finding the answer to regarding equity release on former council properties... I'm only in my 40s but my health means the likely hood of my ever working again is extremely slim & so I'm in the unenviable position of recognising that the savings i have…
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Friends Life V. NEST
I have a Friends Life (New Generation Personal Pension Plan), have put in £15k, my employer £26k in 5 years and its now worth £54k. My employer is now moving to the NEST pension from April, but do I opt out and stay with FL or look at other options? Regards T.
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SP Protected Amount
I understand that the state pension is increased annually by the triple lock (at least for the forseable future)but is the 'protected amount' also increased by some % or does it remain static. I checked the gov website but I can't find anything to answer this question. I think SERPS/SP2 are increased by rpi in the old…
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DB transfer value shock
In my very 1st job I apparently had a DB pension which I had sort of forgotten about really. At 20 your not really interested in pensions that much are you ? So now I'm in the swinging 50s & pensions are now something to take seriously, investigating further & to cut a long story short I was totally shocked this morning to…
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MSE News: Grandparents who help with childcare risk missing out on full state pension
Thousands of grandparents who've given up work to look after their grandchildren could be missing out on a pension boost...Read the full story: 'Grandparents who help with childcare at risk of missing out on full state pension - act NOW to protect it' Click reply below to discuss. If you haven’t already, join the forum to…
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Sole Trader Pension Contributions
Hi, I am an employee in a UK company which offers an occupational pension scheme and to which I make monthly contributions. I am also a registered sole trader and pay income tax on my earnings. I want to make a pension contribution from my sole trader earnings. Is it possible to get tax relief on a contribution I make as a…
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Is my wife the nuclear option???
Background: My wife and I were in the C/Service and TUPEd to private sector. A few years ago she took redundancy and her pension (CS rules apply under TUPE) was 'enhanced' to what it should be at 60. Up until then our salary and time in CS were identical. I am now taking redundancy but the upshot is that my wife's pension…
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Person contributing into pension after starting drawdown
***Re-read other posts - think I have it now Thanks
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Pension contribution - was is included in the £40k yearly limit?
I have a question about the £40k annual pension limit. My salary is £101k. At the moment I am putting £26,400 into my pension directly from my salary. My pension provider adds another £6,600 (20%) and I get another £6,600 (20%) via my adjusted tax code over the year. So 40% relief altogether. The company I work for…
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Ignoring Inflation
Hi all - I've just got the pension bug recently and started focusing on retirement planning - Aged 43 with 140k DC pot already built up and a plan to put decent amounts of salary in for the next 12 years with a plan to retire circa 55 (if I can also fund the gap before I can take pension - hoping its no later than 57!)…
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New State Pension Question
First Hi everyone my first post here. :beer: I have the full 35 + years NI contributions but I am only 62. I have been opted out for most of the time. So cannot reach the full new state pension ( £145 ) My GOV calculation is £132. I no longer work so not adding to my NI contributions. My question is, can I add NI…
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How Many Pensions?
Hello! Just the one simple question: I have 5 pensions and I am 55, can i draw 25% out of each tax free?
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BT deferred Pension Section B
Why must I take my BT Pension (deferred Section B) at age 60 when my official retirement age is 66. I will be working full time for another 3 years minimum but as a basic tax rate payer the BT Pension will take me into the higher tax band. I have asked BT Pensions if I can defer until age 63 but they say NO without any…
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Pension & Mortgage Advice
I'm over 55 (just) & looking for genuinely independent advice about my private pension & remortgaging. I dont want to speak to someone who is trying to sell me anything. I realise i will probably have to pay for the advice, any recommendations would be appreciated.
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Claiming extra NI credits for child care of grandchildren
http://www.bbc.co.uk/news/business-38654321 Just saw this, I'm not in this group but thought it very interesting. EDIT - changed the title to make it more appropriate!
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Simple Drawdown and Investment Plan?
There are many comments on this excellent forum about the rates of investment growth that can be achieved once you have a DC pot as well as draw down methodologies that can be applied. It strikes me that any pension planning based around drawdown requires these two figures, average investment return and annual drawdon, to…
