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Db transfer to Dc
Hi, i get a yearly transfer value for a job i had around 10 years ago. Im 36 and the current transfer is 64k, last year it was 43k ( 3200 per year growing by 5% or cpi which ever is lowest) My current pension is a dc scheme with around 36k in. Last year it grew by around 9% with my company paying management fees. With this…
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Pensions....Why Bother?
I consider myself pretty savvy when it comes to general finance but when it comes to pensions I'm pretty clueless. My wife and I have numerous pensions from different jobs and the annual statements/projections are starting to come in. None of them are worth a much but the examples I've had this week are these: My wife has…
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Retirement Line
Hi, Anyone used Retirement line ? Looking for good and bad comments about them please.
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Is a SIPP protected?
Hi Looking for some advice please. My husband and I are thinking of transferring our defined benefit pensions to SIPPs. We will be speaking to an IFA and getting up to date transfer values. The values last year were in the region of 800k to 900k each. We are 50 and 51. We want to retire at 55 and our company will impose a…
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Advice on finding an Independent financial Advisor
As above really, is there any advice on how to find a good independent financial advisor please. I have never used one before but am looking for information on retirement planning, possible equity release scheme etc. Is there some qualification I should be looking for? don't know anyone who has used one so no possibility…
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Is it wise to move my SL pension to my SIPP, advice please
Hi I am a non-tax payer living off my savings and investments within ISA’s and a SIPP. I am 56 with no other income apart from what I just stated. My wife is 55 and works part time earning £10,500/year. I am exploiting my SIPP as much as possible by withdrawing it up to my personal allowance and then claiming the tax back…
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USA EXPAT, UK Private Pension, No UK Bank Account
Hi Folks, I wonder if anyone with more knowledge than I have can offer some much needed advice. My mother is an Expat in the USA, and is at the point of wishing to draw her private UK pension and take the initial lump sum. The provider is from a fairly large well known UK company. They have said that they can only pay into…
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NHS Pensions: What is what?
Hello, I am looking to increase my NHS pension but I don't understand any of the terms used so I can't really make a choice as to what would be best for me. I am 42 and started working in the NHS in September 2015. I have had no pension from previous jobs so I am starting from zero. My partner is a lot younger than I am…
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Best online providers for differing monthly subscription amounts?
I know people don't like to give a name recommendation so feel free to give a few to look at if that helps? I've been frequenting the forums lately for others as well as myself as some of you will have noticed. We are all in different positions in terms of what we can afford to pay in per month. I'm fairly sure i'm going…
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Pension Profit/Interests Query
Hi Everyone, My workplace pension will be enrolled this month, I am just confused about how the pension works from certain aspects. My company uses The People's Pension, I've read the site and the pension basic guide on MSE. What I failed to understand is, The People's Pension says it will ask me to choose from one of the…
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Should I continue Contributing
The pension is with Phoenix Life, it was orginally a RSA plan, value £19k, so not large, in a "with profits" fund, the plan holder is 60, is essentially retired, but doesnt need the income that this may generate. It has £32/m contributions, or £40 inc tax relief. The plan went up in value by less than £200 over the last…
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Defined Contribution Pension - Target Date Fund Investments
I am aged 51 and contribute to a Defined Contribution pension. My monthly contributions are invested into a Target Date Fund. The aim is to get the most from my money and create a smoother journey for my investments as I head towards my planned retirement aged of 55. The Target Date fund invests in a range of different…
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Contributing to cash SIPP at 54 and withdrawing TFLS at 55
Is it possible and allowed for someone who works , basic rate tax payer, 54 now to open cash private pension plan/SIPP, contribute to it in one year and withdraw tax free 25% subsequent year? Or can it be done only once if at all? I am sure it has been discussed on here but as it was not relevant I must have blocked out…
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Confused about pension, advice please
Hi everyone, I am a little confuddled about the pension - I have worked in the NHS 2 years and opted out of the pension after a year only for the law to change and be auto-enrolled again. I opted out because I really needed the extra cash per month. So I've been back in less than a year. I am again needing this money and…
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Contributing to one pension whilst receiving income from another
Hi Everyone - I hope someone can help advise? I recently reached state retirement age and am taking my stste pension plus income from two other 'Final salary' schemes. I am also continuing to work part-time and am still contributing to my work place pension. I have not taken any tax-free lump sums. I am considering…
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Husband considering taking something out of his 'pots' when he reaches 55
Can anyone give me advice on what information I need to obtain from the pension companies my husband has company pensions with before he has a meeting with an independant pensions advice company? He will be 55 in November and is looking to release some money from at least one of his pensions he has. I just need to know to…
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Pension question
I have been chasing up various pensions,bank accounts etc to see if there's any money still due. One pension in my dads name with boots got back to me today saying they had located it but" as we were informed on your fathers death there was no spouse the pension was ended" In fact my mum outlived my dad for several years…
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Voluntary Class 3 NI Contributions – How to Pay
[FONT=Tahoma, sans-serif]I would like to pay for some backdated Class 3 voluntary NI contributions.[/FONT] [FONT=Tahoma, sans-serif]It seems the only way to do this is by writing a letter to HMRC stating the years required and enclosing a cheque.[/FONT] [FONT=Tahoma, sans-serif]There does not seem to be any Form to fill…
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Final Salary Pension
Hi, I have a final salary company pension that closed in 2010. My salary at that time was just over 32k. I was a member for 16 years and the accrual rate was 1/60th. The transfer figure I have been quoted is a fraction under £350k. I was not expecting a figure as high as that. I don't know if this is a question that can be…
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Work place pension help please!
This is my first post so please be gentle :) I have just quit my job to Manage a flooring shop for my best mate. He has been a very successful Floor fitter out of his van and has now progressed to opening a shop. He asked me to manage his shop as I have previous experience in managing flooring shops for large established…
