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Cetv transfer
Still going on No emails arrived or forms from mercer shocking state of affairs Telephoned them ifa has still nothing Going past the cut off date in March now Presume figure will not change as paperwork is in , just awaiting money to go across
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Free annuity - A gift or a curse ?
I have just discovered I have a £33k pension pot coming my way via delayed probate however I am told because of the type of investment made (an opted out of SERPS plan) and the fact it is over £30k I must take an annuity. I know nothing about annuities except for the current bad press about poor interest rates. I am female…
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Is the NHS pension enough?
Hello everyone, Just after some advice regarding pension planning. I am 28 years old and a Doctor in training. I am fully paid up to the NHS pension. However the problem is that the NHS pension isn't what it used to be and can only be claimed in full when I am 67, with penalties for retiring earlier. What I'm wondering is…
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Should I defer my DB pension?
I'm 58 and will be leaving my employment in the next few months due voluntary redundancy. I have been in my employers pension scheme for over 20 years and I'm trying to work out if it would be better to take my DB pension early when I leave, or defer it until I'm 60. The normal retirement date for the scheme is 65, but the…
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LGPS Overdue
My wife has a Local Government pension which was due to start last Friday. She didn't receive the expected payment and phoned today to find out what was the delay. She was told she had to apply for the payments to be made on forms that would be sent by them shortly. She had already filled in an option form last year to…
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Guaranteed Term - meaning
I receive a private pension. On browsing through my policy document I noticed a section called Guaranteed Term. It then goes on to say.. '5 years from the date on which the Member's pension commenced under the Scheme (at 4 above), with payment in accordance with 13.1 below' 13.1.1 If the Member's death occurs during the…
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NSPension ? with 47 Years NI but 14yrs Conracted Out
Hello all, great forums, and as all SPensions are all different and complex but someone might help me. My SPa(65) is Dec 2017, and my forcast from Sept 2016 says I will have 47 yrs NI by then, but contracted out for 14 years. Full time employment was 22 years and Self Employment for 25 year and still at it Is it as simple…
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Transferring work place pension
I've change jobs recently and my new place of work use a different firm to run there work place pension scheme. I received a letter from my old pension company (legal and general) offering two choices, 1,continue to pay in with no work place contributions 2,do nothing and my pension would shrink to £0 over time. Can I…
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Help needed with IFA questions
I started a thread in 2015 about pension planning. At that time I was expecting to take a settlement and "retire". That didn't pan out as I originally expected and I accepted an internal transfer on the same salary and I am enjoying the new job. So, fast forward 2 years and as a couple we have finally decided that our…
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DWP Consultation - Pension Schemes permitted to remove indexation
So much proposed legislation/changes never makes the headlines... I guess we are all busy with Brexit or Trump, so its a good time to slip out bad news. This article in CityAM today caught my eye. DWP are proposing that Pensions Schemes be allowed to remove indexation.…
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Understanding pension contributions on pay slip?
Hi there, My wife, working part-time has recently been enrolled into the Local Government Pension. I can see that around 5.5% is coming out of her gross pay each month with a total now of £65 for this tax year. Is "Ers pension TP" the employer contribution because it seems quite high in relation to her monthly wage and the…
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Pension stuck in Republic of Ireland
I lived in the Republic of Ireland for 12 years stupidly when I was there I had my old company pension transferred there too It was easy in 1996 Canada Life just opened an appropriate policy and the money was transferred in just a few days Getting it back is another story apparently in 2004 they introduced a policy that…
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What's the minimum pension pot
That you would consider retiring on at 55. No debts, house paid for.
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Pension review - contacted by Consumer Wealth (FCA no.667910)
I have been contacted by Consumer Wealth (FCA no.667910) offering a free pension review service. No doubt they have a motive to advise alternative investment? Are any of you aware of this company and are their motives in my interest?
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Royal London CIS Stakeholder Pension
To cut a long story short I had been in my works Final Salary Scheme for 4 years until it was closed a couple of years ago and my benefits were deferred, they are relatively small £1000 annual pension and 3k lump sum. My new employer is exempt from providing me with a pension (unusual situation) but I do have an old…
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Tax on State Pension
I know that tax is not deducted directly from SP, but I have a question on how tax on pension earnings is applied. If someone is due to start their SP on 3rd April, and bearing in mind that this is not paid until a week in arrears ie first payment received on 10th April; should this payment be treated as income for 16-17…
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Amalgamating NHS and LGPS pensions
I currently have three separate pensions and am considering combining the three but am not sure this is in my best interests. My first pension is a Local government pension from 1987 - 2003. I then have an NHS pension from 2003 to 2014 and the third is back with the LGPs from 2014 to the present day. Ideally I would like…
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Pension - Flexible Financial Advisor Help PLEASE
I have a pension pot of £54k with Royal London/CIS and would like to take this now as lump sums, starting with the 25% tax free withdrawal. I am 55 and have significant property investments which are my main pension/income so do not need this pension to be invested any longer. My hope is I can withdraw it over the next 4-5…
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Keep pensions in separate pots or combine?
My IFA suggested I might want to amalgamate my pensions. I have 4 pensions from different employers: £21K, £7K, £5K and £1K. I'm now in the local government pension scheme so no longer contribute to the previous ones. What I am wondering is whether there's a benefit to keeping them separate. I'm 36. If I have a few smaller…
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A frugal early retirement ....
Hi - while showing as a newbie I've been hovering around the forum for years and thought it time to take the plunge. In that context, I'd welcome comments and advice on the wisdom of our plans for possible early retirement as a couple aged 52 & 55. Our situation is: - Both civil servants in final salary schemes with…