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Tactical Divorce - Tax Avoidance or Tax Planning?
Whilst many years away, and the rules are bound to have changed by the time I come to retirement, I am interested on opinions of whether a tactical divorce that resulted in a transfer of half of my pension to her would be seen as tax avoidance or tax planning? It would seem to me that if the sole purpose of the divorce was…
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FSA compensation
Could someone explain in simple terms what the limits are, please? I currently invest through Cavendish but as a passive investor my money is concentrated in a small number of funds (Vanguard) plus a pension using L and G multi index. Cheers.
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Pensions for frequent job movers?
I only began full-time work after studies in 2012 and gained a small £4,500 through NEST in pension funds thus far. I then did two contracts (6 & 3 months), before landing my current job. I'm now in a great company, but the pension is 2% contribution only, though that's not the issue. The issue is that I work in Project…
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Claiming pension from time worked in Germany?
Hi, A family member of mine has just moved into pensionable age and has started claiming their UK pension. They also worked around 20 years of their life in Germany. I am trying to help them find out how they claim their pension from the time worked in Germany however having googled for a long time I can't find an obvious…
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Cavendish SIPP - time to setup
Anyone know how long it takes Fidelity to setup the SIPP once Cavendish have passed on the details?
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Paying into pension for five years?
Trying to plan for husbands retirement. He has been paying into the British Steel Pension scheme for 39years, but retirement options have been turned upside down with its closure to further accrual. There is a new plan opening on 1st April run by Aviva. The max employee contribution is 6% with Tata paying in 10%. Husband…
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CETV multiplier convention ?
There is much discussion on the board comparing the merits of particular CETV's based on multipliers. Is seems to me though that posters are not always comparing like with like and that the calculation of the multiplier is not consistent. To use my figures as an example: Age 56 now. Pension value when deferred in 2001 was…
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Finding an old works pension
Hi, first post and a question. Is there any way to trace an old works pension from 30 yrs ago? Company long gone unfortunately. Im in Scotland not sure if it makes any difference
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Accumulation or Income
Hi, I've just opened a H & L SIPP with first £2880, choosing 4 funds from there DIY Master Portfolio 150 funds taking a chance with Adventurous, to get me started, wanting medium term growth. Noticed one fund is Income with a income reinvestment charge of 1% selected minimum £100, before investing income fee £1. Is it…
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Any reason to not pay money into a pension?
If saving long term with an aim for retirement is there any good reason to not put any spare cash into a workplace pension scheme where you get the benefit of salary sacrifice? I soon will have £1000/month spare cash and am wondering what to do with it…..I am 42 and am saving enough into a pension to retire fairly…
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NEST - next to uesless?
I worked for an agency for all of 3 months. In this time they auto-enrolled me into a NEST pension. I did ask them if contributions could be paid to my private pension instead but they said this wasn't possible. So now I have the vast amount of £9.91 sat in a NEST pension that I cant do anything with!
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Lloyds Bank Grad Pension - Trivial Commutation too low?
Hi folks I was surprised to discover when I reached 65 recently that LLoyds Bank owe me £7.28 a year as I was contracted out of State Graduated Pension when I worked for them in the early 1970's. They propose to settle their liability in full under the Scheme's Trivial Commutation rules by making one payment of £71.34. I…
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32 and no pension provision
I am the first to admit that I have been negligent with my finances and the only item left on my list to tackle is to sort out a private pension. I have a pension through my workplace which I pay into but I am under no illusions that I am going to need to invest in a private pension as well. Thing is, I don't really know…
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Recently retired and looking to open a cash sip.
Hi Guys New to this forum and my first thread. I am 59 years old and took voluntary redundancy in September 2016. I elected not to invest any of this in my final salary pension which had been fully crystalised for over four years. I had commenced drawing 40% of my pension, including 25% of this as a tax free lump sum, in…
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Pension pot target
Hi all, I'm new to this site so here goes with my first post. I'm 40 years old and have an Aviva (risk level 3) pension with a current pot of £42k. I'm sensible enough to know that pensions are not what they were and have lowered my expectations accordingly. I'll receive my state pension at the age of 67 - roughly £8100pa.…
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Is there a good reason to not use a S&S ISA for retirement?
I was just browsing online & saw this video of Martin Lewis talking about the L-ISA http://www.bbc.co.uk/news/uk-39259316 (from about 2:00 onwards). He says he has concerns about most people using the L-ISA for retirement. Surely the S&S L-ISA is just like my regular S&S ISA except the L-ISA has an extra 25% thrown in from…
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State Pension for me - confused - help please
I'm struggling a bit with state pension info online to make it clear for my particular case. I'm 56 born 1961. I left work in 2005 to live off savings/investments. At that time I had 30 qualifying NI years which I'm sure I phoned up about and was told that would give me a full state pension but when I did a quick state…
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SIPP & tax Advice
I previously posted regarding possibility of moving my Final Salary Pension to a 'SIPP' But I have Just discovered another 'Option' rather than a) leave Final salary pension alone or b) TF to drawdown I have found I have an option of just 'transfering ' @ £35k in my AVC to a SIPP As its over 30k I know I need IFA to sign…
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tax question
If I earn £19500 before tax pa and have no other income and i then have acsess to a £30000 pension pot could i withdraw 25% of the pot per year yax free??
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Paying into DC Pension when drawing DB Pension
Can you pay more than 4k into a DC pension via salary sacrifice whilst drawing a DB Pension? Or are you limited to paying in 4k max only if you are drawing pension from a DC type pension? Appreciate some clarification from you. Thanks
