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Pension Forecast - help needed
I got a PF from the Futures Group (Newcastle Pension Centre) a few days ago. There are some things I don't understand, so I rang them and, to be frank, the lady I spoke to wasn't fully confident of her knowledge. The basic facts are these: Born 1955. Married 1976 (and remain married). Elected for the Married Woman's…
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Advice or whether to transfer or freeze pension
Any advice would be appreciated. I am leaving a job in the Civil Service to start a new one and was curious what would be the better option? I have accumulated nearly nine years worth of pension .
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Pension payments/tax allowance.
I’m about to start drawing my various pensions. I’m not yet old enough to draw my State pension. I have 3 separate ‘defined benefit’ (Final salary) pensions, and 2 separate ‘defined contribution’ pensions. i.e. 5 separate monthly ‘Pension Payment Advice’ slips. How do the various different Pension providers calculate how…
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Deferred DC Pension Standard Life
Got a letter from Standard Life re an old pension fund which is deferred with no contributions going in. The letter basically says that as it has 5 years to go to maturity they are going to start tranferring to their Annuity Purchase fund. I believe it is an old style with profits fund and I have to purchase an annuity at…
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Part Transfer of Company Pension scheme
Hi, My age is 60 and I have a Company based pension scheme which is not a defined benefit but contribution based. Would it be possible to transfer part of this pension pot (say 20%) to another provider - say for example a SIPP with Hargreaves Lansdowne. ? If this part transfer is accepted, would I be able to withdraw a…
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Reasonable contribution to cover self-employed component of income?
Hi, Grateful for any advice. OH contributes 12.5% of salary to his DB (nhs) pension. I have just persuaded him to begin a sipp to make contributions to cover the self-employed aspect of his income. He is 41. His 16/17 earnings will likely be as follows: Taxable pay from employment: £25450 Net profit from self-employment:…
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State Pension: 7 qualifying years - shortfall question.
Could someone help me please? I am male, 65 years old; 66 in June 2017. I live in Asia. Always been self-employed. Stopped working in 1998. Never worked outside the UK. I have received my UK state pension statement which states I have 7 qualifying years of National Insurance contributions; 10 years is the minimum required…
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stakeholder pension - missold
a few years ago my friend was sold one of these and having just paid one sum into it now wants to cash it in. The pension is about £240 a year and she's already 65 and the bank have admitted and paid for their error. She has received a letter from Aegon saying the plan value is £4622...and the surrender value is a)a full…
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Second pension
I'm curently exploring options for boosting my income in retirement. I currently have a pension at work and am contributing the maximum, my employer contributes 2 x what I contribute. I'm mid 30's and only started my pension a few years ago and have only recently maxed out my contributions. im looking at starting another…
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Care Home fees - self funder
Im not sure whether this is in the right place before I start. My FIL has Alzheimers and is a self funder. My MIL will remain in the property. The problem is that the care homes in our area will only accept you if you can self fund for two years. He can fund for one year but then will run out of money. The care homes say…
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Help understanding SP forecast.
I have recently been made redundant & was also lucky enough to be able to take early retirement with access to my Final Salary pension based on 38 years service. As suggested on this site, I have obtained a State Pension forecast via the Gov.UK website but I now need help in understanding what it is telling me. The various…
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State Pension, Class 3 top-ups, COD
I worked many years ago for the Civil Service, with a contracted-out pension scheme. Later, I regularly topped-up missing years contributions with Class 3 national insurance contributions. I have only one year's contribution (just £20 worth since I worked for part of that year) left to make to have the full number of years…
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MSE News: Over 64? This is your LAST CHANCE to boost your state pension
If you're a woman aged 64 or a man aged 66 or older, urgently check if it's worth topping up your state pension...Read the full story: 'Over 64? This is your LAST CHANCE to boost your state pension' Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our…
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Self employed pension
I am about to take the plunge as start out self employed. I have a private pension with Aviva which I haven't contributed to for about 10 years. My current employer signed me up to the goverment scheme 2 years ago. My question is which would be the better to carry on contributing too , once I start working for myself.…
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Pension Transfer
I posted previously that my husband is considering transferring his FS pension from his employer. Appreciated all the advice given at the time but don't think I asked these: 1. If he does transfer the pension, does the new investment have to be in a pension, or can he invest outwith pension wrapper? (Aware of potential…
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2 questions re pensions
1. If my husband dies before me will I inherit his state pension? My birth date is 1960. 2. I have 30 years NI contributions and some other years which are not fully paid up. I am looking to make voluntary contributions to get to 35 years paid up NI. Last tax year ie 2015 - 2016 our total income was low and we received…
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Standard Life charges
A colleague is retiring later this year. His main retirement income will be from DB and state pensions but he will also have a DC pot of around £18,000 currently being built up in his employer's scheme (Standard Life Group Flexible Retirement Plan). He will need to spread withdrawals over a few years to avoid paying higher…
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Retirement Income from equity release
My widowed mother aged 75 was receiving a monthly allowance~£1000 from her brother for the last 10 years to supplement her state pension. These payments stopped last month when her brother died and there was no provision for my mother in his will. She wants to release money from her house (~£375k value with no mortgage)…
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Savings V pension
I am a 44 year old female who has been left a large inheritance (£350k) Savings rates are rubbish, i have a personal pension with £45k in it held with legal and general I don't have any debts If you were in my shoes would you top up your pension, keep it in savings or a bit of both?
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Pension Annual Allowance
Hi Hopefully this is a simple questions, I have got myself really muddled. I have been lucky at work this year and received a large bonus and I have contributed this to a SIPP. I also make other pension contributions via work and I have contributed £39000 in total to both this year. I understood that I was able to…
