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What do do with a small old pension
I have a small pension pot from my first employer currently showing a value of £900. I am in a company pension with my current emploer whom I have been with for over 25 years. I am 55 and wonder what the small pesion is worth and if it is worth keeping. Am I able to cash it in?
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Tax Transfer Allowance
H again :) I am due to retire end of March and my wife has just had details from HRMC about her tax details. We started the trick of her giveing me £1110 of her tax allowance last year and this years its now stated as £1150. Will this need to be removed when I start drawing my pension 1st April ? I will be paying tax on my…
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Nhs special class
Anyone out there with good knowledge of TUPE transfer from NHS scheme? I have special class and want to move from Scotland to England. I know I have to be very careful regards job category. The contact with the SPPA I have had has not left me overly confident I am getting concrete non changeable advice as the guy did a…
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Several pensions
I am 62 and receive a widow's pension of approx. £11,500 p.a. I have a DB pension of approx. £35,000 p.a. that I intend to draw at 65. I have a DC pension pot of approx. £85,000. I am retiring 18 months before my 65th birthday and plan to use the 25% tax free lump sum from the DC pot (and widow's pension) to tide me over…
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Implications of the Brewster case for Private Sector spouse's pensions for cohabitees
Does the recent Brewster vs Northern Ireland superannuation committee ruling in the supreme court have any implication for private sector pension schemes who's rules only pay spouse's pensions to those legally married or in a Civil partnership, and not to long-term cohabitees?
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Can I make Class 3 voluntary NI contributions
I was contracted out of Serps by my employer when I joined their workplace pension. This means that despite having 31 years of NI contributions, my state pension forecast is for £123 a week rather than the newly introduced flat rate of £155. The forecast suggests that I will need to work and carry on making NI…
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Unexpected surprise
Hello, I am 67, in moderate health and draw only the basic State Pension per month, living very frugally. I have recently been told by an insurance company about a 73,000 pound Mature Private pension that I had actually forgotten about. I divorced and moved abroad 19 years ago in a bit of a rush! Recently came back to UK…
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ABF Final Salary Pension
This isnt my main pension but I have a small final salary pension that I had as a young man that lasted a few years and isnt worth much. I have had a letter offering the option to transfer to a defined contribution arrangement with more flexible benefits. As the Transfer value is over £30k I have to speak to a financial…
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DB access and still working
My DB pension was deferred at end of last year. I can access my pension(actuarial reduction) and continue to work, which would take me into HR tax bracket. Would this limit any future pension contributions to £10k, soon to be £4k p.a. Thanks
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Tier 1 appeal nonsense!
Hi all, I'm looking some advice on an ill-health pension. I was recently forced to retire on ill-health grounds from my nursing career of 20+ years. I have only had a pension from 2000/2001. I was awarded a Tier 1 on the grounds I was incapable of doing my NHS job but deemed OK for other work. My GP, Occ Health Dr and a…
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State pension
Hi longtime lurker here. After reading many posts on this forum decided to get a state pension forecast on the gov.uk website. I retire in August 2017 and it came up as £174.49p p.w . Does this sound right as every body seems that is is £155p.w.?
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SIPPS and fx/commodities
Please can someone help. I would like to convert my pension in to a SIPP and then hold silver and trade currencies. Does anyone know how to do this? I don't want to hold a silver ETF, i would rather hold the physical or just trade the cash price. I have tried IG through James Hay but they don't seem to allow currency…
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Civil Service Spouse Pension
A few questions about the civil service classic pension. if you die after receiving your pension does your spouse receive half your pension and is this index linked and what happens if they end up with a new partner or remarry? What do they receive if you die before your pension starts ( and you had already left the…
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Teachers pension
Hi, I am 54 will be 55 in October. I was planning to take lump sum from teachers pension at 55 and carry on working. I have accepted a new job which has its own pension. Can I still cash in my teachers pension ( lump sum) although I have already left the profession? The school I am in are asking me to do two days a week…
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SIPP for higher rate relief whilst in LGPS
I would like some advice please on how to reduce my tax liability through a SIPP. I didn't expect to be a higher rate tax payer and my previous intention was to invest in an ISA alongside my LGPS to facilitate an early retirement. However now in my late 30s I find myself earning around £55k p.a. (will rise to £65k if I…
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Been offered annual rolling contract upon retirement age
Hi, This is for my father in-law. He will be 65 in November and be able collect his state pension. His work have said that they will give him an annual rolling contract to continue working as long as he is fit and healthy to do the job. He is a green keeper. So he is wondering if its will be financially better off defer or…
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Advice on ReAssure pension
I have a pension with ReAssure ( previously HSBC ). Recently got the annual statement and have got the option to switch funds and save on charges. My current fund is balanced pension accumulator series 01 which has an annual management charge of 1%. The funds they are offering to switch to have a 0.65% charge. The main…
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Which pay total to use for purpose of SIPP contributions
I am starting a SIPP for my wife and know that you can contribute as much as you earn gross and because the year has not ended I will make the calculation to predict what she will gross this year. She works for the council and she has 2 figures on her payslip which add up each month over the year, one is Taxable Pay and…
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Thoughts on current standings
Hello folks, I am taking stock of my pension and looking to improve it. A little break down.... I am 32, been paying in to a pension for 4.5 years. I rang today to get latest balance, it is £15,000. I currently put in 4% and work puts in 6% (6% is the max they do). I recently got a pay rise and so I am going to up my…
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Pension rethink
Bit of background. 45 and in a good final salary scheme which as of a month ago is valued just over £500k. The scheme is in the black and there is no plans to close it at the moment. I have a SIPP which I am contributing to £300 a month into and it has about £140k. No Children and hubby works for the same company and also…
