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Info needed on what 100% of earnings means for self employed pension
Hi, I know i can pay 100% of my earnings into my pension as i am self-employed. Is this 100% of gross income or net profit? i need to withdraw some finances tomorrow so trying to find this info. Thanks for any help!
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Advise needed for self-employment pension contributions
Hi, i have a question i can't find the answer to. I am self-employed and a low earner. i know i can get tax relief on 100% of my earnings when i pay into my pension. However, is this gross or net profit? Thanks for any help!
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Transfer Value Before 55
Hi, My wife turns 50 in September. She worked for a bank for 8 years in the eighties at a low grade. Just pulled numbers off the system she has access to. Her current pension figure per annum is £2,400, so she has 10 years before her normal retirement date. The transfer value is £146k. Can she do anything with the transfer…
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Pensions Maze - Company Director - Stakeholder help
Please can someone help me get my head around pensions I am a 44 year old female. In my early 20s I paid into a company pension, this eventually ended up in three personal stakeholder pensions that have a transfer value of about £46,000 I haven't paid into these for the past 20 years. I am now a company director with a…
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Lifetime allowance prediction in DB scheme?
Hi, Apologies for the stupid question. My OH has 9 years conts into the NHS 1995 scheme and now pays into the 2015 scheme. (No choice there, he had to move). We have been trying for 7 months to get some more details about the pension, one of which is how to predict whether he is likely to hit the lifetime allowance. The…
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Lifetime allowance prediction in DB scheme?
Hi, Apologies for the stupid question. My OH has 9 years comes into the NHS 1995 scheme and now pays into the 2015 scheme. (No choice there, he had to move). We have been trying for 7 months to get some more details about the pension, one of which is how to predict whether he is likely to hit the lifetime allowance. The…
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Can pension tax relief exceed tax paid?
Can anyone confirm what happens if the basic rate tax relief on a pension contribution exceeds the tax liability? Everything I can find says that the limit on contributions qualifying for tax relief (below the £40k annual allowance) is 100% of the earnings, but what if tax isn't paid on some of those earnings, because the…
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Salary Sacrifice
Hi does anyone know if Salary Sacrifice shows on a P60..? i.e. is there anyway HMRC can find out how much someone has put into an occupation pension through earnings information sent over from the employer, without having to ask the employer to confirm the arrangement. Thanks
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Pension charges
http://www.telegraph.co.uk/pensions-retirement/financial-planning/tory-mp-pension-companies-have-social-duty-cut-charges/ Tom Tugendhat MP writes "I was sent regular statements of my pension with management fees identified but only when I asked specifically did I discover the truth. The charges applied to my savings were…
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State pension forecast
Living abroad but having previously lived and worked on the UK, I have 26 qualifying years and purchase Class 2 Voluntary NICs each year. I previously contracted out of the second state pension (SERPS) so my pension forecast amount is lower than the new full rate of £155.65 per week , allowing for the lower NI…
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State pension or SIPP top up
Hi, I am 51 years old and currently have a large gap in my NI contributions. I have 24 years full contribution, 16 years left to 2032 and 11 years left of missing either partial or full contributions. Questions, is it worth me topping up on my missing years to qualify for the full state pension or use the money to invest…
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Claiming Deferred Pension
Wife has decided to claim her state pension ( 3 yrs deferred on 2/6/2017) , I understand pension payments are paid in arrears so does she have to choose the date she wants the1st payment to start i.e 4 weeks later or will the DWP just give her a date after the 2nd June ? Her pension day will be a Wednesday Many thanks
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Pension review - cold call
Hi all, Just had a cold call from a company called Pensions safe (http://www.pensionsafe.co.uk), they say i was due a pension review which is free and a government initiative to check i'm not paying too much in fees. Has anyone had any dealings with these people? They were English based but it sounded like a typical boiler…
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Optimum age for cash equivalent transfer value?
Is there an optimum age for a cash equivalent transfer value from a defined benefit scheme? The reason I ask is I have a couple of pathetically low pensions but the transfer values are rising massively each year. This year on a £6000 pa pension I was offered £272k, which was a rise of £60k in the last year. With 5 years to…
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Leaving pension
I have been a member of a workplace DC pension scheme for a few months. I only contributed a paltry 2% and my employer paid 6% Looking online the value as of the 21st was £1033.63 but there is a final payment to go in on the 28th of about £180 I will be leaving this job end of next week so I was wondering if I can claim a…
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Self employed pension advice
Hi, I'm self employed (sole trader) and am looking for advice or recommendations of pension providers. I have a NEST pension from my previous employer, should I continue to pay into that or are there better options for sole traders? Any info would be much appreciated! Thanks
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Self employed pension advice
Hi, I'm self employed (sole trader) and am looking for advice or recommendations of pension providers. I have a NEST pension from my previous employer, should I continue to pay into that or are there better options for sole traders? Any info would be much appreciated! Thanks
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IFA speak
I have had two initial meetings with local IFA's, both were interesting and have changed my views so I am now more positive about using an IFA (I posted before about this) and both are possibly open to negotiate on fees (a little). I thought both were trustworthy and could deal with either of them. My area of…
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Market Value Reduction Query?
Can anyone clarifiy how a Market Value Reduction would work in principal on a With-Profits pension transfer. For instance, if a fund was worth £100K (£75K Accumulation & £25k Terminal Bonus) and you chose to transfer at a time when there was a 10% MVR in place, then would the MVR apply to the whole fund value or just to…
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Deferred Pension
Can someone explain this? My OH is nearing 55 and is currently in an ok average salary DB scheme. But until 2003 she had been in a final salary scheme run by a FTSE 100 company. She actually had two spells with that company. Her first spell ended with her accrued pension benefits being moved into a unit trust scheme run by…
