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Swapping pension to Zurich Flexible Income drawdown
I have been paying into a small pension with Zurich for the last 20 years and have very recently been diagnosed with Motor Neurone Disease at the age of 55. I cannot work as my voice is very shaky and and stress sends it into meltdown. As prognosis isn't good 3 to 5 years worse case scenario I want to draw down the 25% now…
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Pension payments made whilst on basic rate but earned higher rate in year,tax relief?
Hi All, Hoping someone can help clarify whether I am entitled to claim tax relief at the higher rate for my pensions contributions last year. From April - December last year I was earning just under the 40% tax threshold, with this employer I was paying into my companies pension scheme and they were taking my contributions…
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Just a point in the right direction...
... so, at the ripe old age of 37 I finally have a pension in place - albeit a Government workplace one. I know I should have put something in place many years ago - but I never felt I was in the financial position to contribute! But now I am! I feel like everything is settled and I want to try and make up for lost time...…
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Combining pension pots - has anyone done it?
Hello I'm 44 years old & trying to get my pension sorted. I have approximately £80k in pension savings which are distributed across 5 different pension pots (4 of which are from previous employer schemes - one a small stakeholder pension with Scottish Widows). I'd find it much easier to manage my pension savings if it was…
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Early Retirement Discount Factor
Hi all. The itch to quit the job and get back control of my time, is strong and needs to be scratched. I am 53 and plan to take at least a year off before making any income generating decision that would impact that control of my time. Sabaticals etc are not an option so in order to Not Work, I have two options; 1) Deploy…
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Excited but Nervous - Transferring Final Salary Pension
Had my first ever meeting today with an IFA. Between Hubby and myself we have 550K in pension values, of which one of mine is a Final Salary with a transfer value of 267K, with a projected payout of 8.5K a year and 4K to my hubby if I die. I was convinced that I would never touch my FS Pension, as always advised, but…
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Pension moved to new provider without permission
Hi I need some advice on my company pension scheme. My employer & I both contribute to the scheme which was run by the same pension company for a few years. I knew they were looking to move the scheme but, out of the blue, I have had a letter from St James Place to say they have taken it over and future contributions will…
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Voluntary NI contributions and pension
Hello, I am new here, very grateful for a fabulous resource, and quite probably going over old ground (I'm very much a newbie when it comes to any sort of serious financial management) for which I apologise. That said... I've just used the pensions caluculator at .GOV. It tells me that I cannot increase my forecast pension…
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National Insurance contributions
Can anyone help? I retired at the age of 61 and cannot claim state pension until 66. I understand if I make voluntary NI contributions up until I am 66 it will increase my state pension. How do I do this?
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Thinking about my future - wanting to start a pension fund
Can I just use a normal bank savings account to put money in to save for a pension when i'm older or do i have to open a special account for this? I already am in my works pension scheme but wanted to stash some away to boost it a little.
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Looking for some advice
Hi came accross this board by chance and would appreciate any thoughts and feedback as to whether we are right to have gone with SJP. My wife and I have recently committed to a pension with SJP after our father in law moved his sizeable pot to them from an IFA and he encouraged us to speak with them. What are peoples…
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Company pension through Capita?
I'm about to start working for a company whose pension scheme is administered by Capita. Does anyone know how extensive the range of funds offered is? How does it compare to, for example, a Fidelity SIPP? Annoyingly we cant see the range until we actually start. The pre-employment benefit registration forms just list a…
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Part Qualifying SP Years
Hi there, are ‘Part Paid’ National Insurance State Pension years any use for calculating full qualify years? Can a few part years add up to become worth a full year or are they completed written off in terms? I have three part paid years from about twentyfive years ago! Many thanks.
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Transfer value is double the actual value?
Hi, first post for a while so please be gentle :) I have a Royal London pension which was my SERPS only contributions for a while until I opted back in. The transfer value is over £18,000 whilst the actual notional value is less than £8,000. Just curious as to the massive difference in these values? I have 3 other pension…
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Buying a Property from Pot?
In the not too distant being 55 next month, all being well my transfer out of £810k will become live. Recently, been thinking of this idea, but one that fulfils our dreams as well. Any opinions appreciated. I have my eye on a new build which is part of a complex overlooking the sea. These developments will have by far the…
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tax relief on pension contributions for higher earners
Hi MSE experts, One of my hard working friend (7 day a week worker) was enquiring re how she can save taxes as her income is above 150k ( 3 jobs in NHS) and she is paid 44k into pension (GP practitioner NHS pension-employee + employer). She is worried re 'scheme payes' penalty as well; due to recent April 2016 rules re…
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How do you work out portfolio % gain?
Is there a simple way to work out the % gain in your pension when you have numerous funds? For example Fund 1 is 30%, 2 is 30%, 3 is 15%, 4 is 15%, 5 is 5% and 6 is 5% of allocation. Performance from 1 to 6 is +19%, +23%, +3%, +15%, +32% and +5%. If there was no contributions it would be easy to work out gain/loss every…
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moving a pension internationally
Hi all - I'm a dual citizen of both Australia and here in the UK, where I live with my wife and have spent the last 10 years. We are both self employed and I have no pension back in Aus to speak of as I moved here at the start of my career. We both set up a pension 2 years ago which is run through my limited company of…
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Section 148 orders
Can anyone tell me what the rate of increase was this year.
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Effect of busting Lifetime Allowance
I've been playing with a spreadsheet today and looking at a scenario where I retire at 53 with four years of living off ISA investments before starting to draw down from pension pot. With my (I think) pessimistic growth assumption of 3.5pc pa the pension pot is just under the LA. However it has just occurred to me, that…