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tax code for HL SIPP for low earner
£2,880 put in SIPP at HL, topped up to £3,600 by HMRC. £600 withdrawn (no emergency tax deducted on this amount) in anticipation of HMRC issuing tax code before withdrawing more. How long for this to happen? Is there any way of knowing when it has happened?
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On target to retirement at 50?
On this forum i keep coming across the following number to be on target for retirement of 35k at 35 years old As i am 50 years old next i wondered what the number is for 50 :D
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Civil service pension buy out -limits to relief/mechanics of claim
I am being made redundant, and considering buying out the reduced pension for leaving early. I would need to do so (at least partially) from my own money (the balance from the redundancy), but the amount I would need to put in exceeds my (anticipated) taxable income for 2017/8. The civil service pensions website says 'To…
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L&G Unit Price Calculation Error
I had a L&G SIPP up until a few months ago (before transferring the funds to another provider). I've just received a letter from them informing me that due to a unit price calculation error, they owe me £16. Their preference is to pay it by Direct Credit and have enclosed a form requesting that I provide my bank details…
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40yo with no retirement planning in place
Hi, I've got a question about a family member who currently is not saving any money for their retirement. He has a work pension scheme, but from my understanding of it there is little being put into it from both sides - £20 per month is the figure I've been told, matched by the employer. I've spoken to my parents about…
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Deferred state pension confusion
I deferred my state pension for 2 years before the rules changed so I am eligible for the lump sum. a few questions 1. Do I get the 25% tax free on the lump like a private pension? 2, How long before receiving the sum after claiming? 3. will I have to pay tax on the remainder and at what rate? 4. Is it worth waiting for…
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Pension Self Assessment
I am trying to complete my Self Assessment for my self as a Self Employed Sole Trader Ltd Company. I have a personal pension which I have paid £7500 from my personal bank account, I have also paid into my personal pension directly each month from my Ltd Company £15,500. Question is when I complete SA do I include both…
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Letter from DWP,state pension now has to be paid directly into a bank account?
Hi, I wonder if anyone can give me some advice me please? My mother has received a letter today essentially asking for her bank account details so that they can pay her state pension directly into her bank account. She currently walks 30 metres to the local post office to collect it. However, her nearest bank is 3 miles…
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Transferring into Teacher's Pension
An acquaintance is starting work as a teacher. He will be able to buy extra pension limited to £6,500 pa maximum. He also has a small stakeholder pension which he wants to transfer into the scheme. Is the money from this transfer likely to lower the extra pension he is allowed to buy?
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advice r/e pension
Im 53 and currently classed as disabled an have not worked for 20 years I have 1 small pension with Aviva which has nothing paid into it for 20 years and am unable to pay into it Im wanting to take advantage of paying £2880 into 1 and Aviva have sent me details of one i can pay into Aviva YP American(CGU) 50% Aviva YP…
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Sugestions for investment
Hi, my dad died a couple of months ago and my mum has decided to take a £23,000 lump sum payment from one of his pensions. I'd like to help her invest it so she can receive smaller lump sum payments over the coming years. She's 63 now. Is this the best idea, and do you have any suggestions for how to invest please? I have…
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Tax liability on final salary transfer
Apologies if this has been covered But if I move a Final salary to a draw down and the total value including avc exceeds 1million would I incur a tax liability?
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interestre payment from delayed pension payment
Hi, I am hoping someone can please help me. I was recently awarded my occupational pension due to ill health which I have been fighting for the past few years. I should have received it on 27th January 2006 & it was paid on the 6th June 2017 ! They were told that they would have to interest on the payment at the basic bank…
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Is Class 3A worth paying for us?
Hi, My wife and I are no longer working but are under state retirement age. Our pension forecasts suggest we have paid enough NiCs but were contracted out for a number of years so will receive a reduced state pension. My wife is 54 and has 36 full years with her state pension reduced by £30 a week. I am 61 with 44 full…
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Pension as Sole Trader vs Ltd. Co.
Hello all Some fantastic info from you guys in the recent thread regarding setting up a pension as a Limited Company. Rather than hi-jack that thread I thought I'd start another to address my particular question. I'm 42 years old with no pension provision. I am currently a Sole Trader but my accountant is suggesting I go…
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Equity release interest rates
We are looking at taking out ER in the next few years but we are tempted to actually bring this forward as the current rates are at an all time low. Any views out there on the sense of doing this ? We have researched the pros/cons of ER and realise that this is not for everyone.
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Surprised and Possibly Delighted.
Wonder if anyone can help?? Life is a bit of a blur and never really bothered about Pensions till now.Never been out of work since I was 10 and now nearly 60. I came back from holiday to a note from the Prudential asking me to confirm my details....I rang them and they confirmed it MAY be because I have a Pension…
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LISA for retirement / lifetime allowance
I am considering opening a LISA to save for retirement. I already own a property so it could only be for retirement. The reason why I do not want to contribute more to my pension is that if I continue to contribute at my current rate (maxed out employer matching contributions), then I am likely to be at or around the…
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Profile Pensions letter
MoneySavingExpert.com Insert: If you're looking for missing pensions read how to do it in our fully researched guide: Reclaim Forgotten Cash Back to diddldonna1's original post... --- My husband received a letter/form from profile pensions about claiming missing pensions, is this a genuine company. It has his details on it…
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Estimate fee?
Hi - I am 73 and have two Aegon linked pension plans: 1. Retirement Cash Account (non-contracted-out benefits) 2. Phased Retirement I have been taking a small monthly income from the Retirement Cash Account. Each plan has a transfer value (approx. total 155k) I would like to combine/transfer these sums into a flexible plan…
