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Pension Recycling Sense Check
Having read the Royal London summary http://adviser.royallondon.com/technical-central/pensions/contributions-and-tax-relief/recycling-of-tax-free-cash/ and the HMRC's tax manual on the subject https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm133800 I think I have a clear handle on this, but want to double…
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Reclaiming overpaid Private Pension Tax
Good evening all. I hope that you are well and can maybe help :) My partners mother has been in receipt of a private pension as a beneficiary for 3 years since the death of her husband. For the first 18 months she paid tax via a BR emergency tax code, paying in the region of £800 of tax during that period. Her tax code was…
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40% pension contribution questions
Hi folks, Wondering if you could help with my calculations... I live in Scotland am I'm interested to see how much contributions I can make to a pension to lower my tax bill this year 2017/2018. I stay in Scotland so the 40% tax rate starts at 43k. I would if it were possible make pension contributions to totally mitigate…
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Pension advice help wanted
Hi all,im after some information regarding state pensions and any help would be appreciated,im self employed and now have gaps in my record for last 3 years i also need another 15 years to contribute in order to recive the state pension,im 33 now so got another 35 years or so to go i dont earn alot and cant afford to put…
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more than one pension
hi when you reach 55 can you take all youre pension pots at the same time i know there will be tax to pay but can you take them all if they add up to more than 30,000 many thanks
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Pension Forecast - Tax on Saviongs
Hi All, After recently watching a short program on retiring early, i have decided i too want to retire early and am currently planning on how best to achieve that! Plan is to save heavily and let the interest build up until i am able to live off it. Can anyone tell me if the interest I received from my savings is counted…
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Aviva no longer provides fund purchase statement?
Hi all, I recently received my Annual Statement, and it doesnt contain the fund purchases. Previous year's statement had this information. (I've got a couple of grand of contributions registered in my accounting program for this pension plan but cannot add it to the investment account because I don't know the dates and…
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Question about extra payments in pension
This is a Q regarding employer contribution together with employee. Suppose this year I have stopped working (because I have :D :D ) Let say, to round the numbers, taxable pay this tax year was £20,000 in total. And contributions to my pension so far, before tax (both mine and employer combined) were £8,000. Am I right in…
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Scottish Widows Pension Plan (Pension Investment Approaches)
My company have just switched to Scottish Widows Group Pension PLan. Truthfully, this isn't my domain whatsoever, but having filled in the form. The last question is Pension Investment Approaches. Honestly, I Have no clue.... and having Googled, I have even less of a clue. There are 18 choices. Now I've written 9 of those…
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NEST versus SIPP
Hi Everyone, my company have recently enrolled me into NEST but after doing some research / googling of them there seems to be an opinion that they are a extremely basic provider and reviews of them seem very doubtful and my question is.. is it worth pumping extra amounts on money into this provider or is it better to do…
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Solution for Unlisted Shares in SIPP
Hi all, I've a holding in some aim shares in a SIPP with Barclays Stockbrokers. The shares were delisted last year as the company is being wound up and remaining cash (of which there is a fair bit) is being returned to shareholders. So I'm obviously keen to hold onto these shares until the cash is returned to me. Barclays…
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Can I buy my parents house
My parents currently have a mortgage outstanding on their property. Equity of approx £70k. They will both be retired soon and we have discussed the option of me paying off the mortgage, making some home improvements and letting them live there. My questions are; am I able to do this, is it an easy process and are there any…
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Pension To ISA?
Looking for comments/advice Although we don't need the cash we are thinking of putting my wife's personal pension plan into drawdown taking the 25% tax free and then taking a few thousand out each year but putting this back into ISA. The rationale is 1. Giving us the opportunity to move into more defensive funds as frankly…
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Advice on best way to get money back from pension in Netherlands
Hey Guys, First time posting on here, just enquiring if anyone would have advice on the best way to get money back from my pension in the Netherlands. I worked there for over two years and I'm currently working in Dublin Ireland and living in the north in Belfast. I contacted the pension company who have advised me I can…
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When can i stop paying NI?
Evening all,just seeking some clarity on this issue having checked my records on the Gov gateway system. Apparently i can claim my state pension in 2031 if im still beathing. The account says i have 38 years of full contributions but it also says,, "Forecast if you contribute another 7 years before 5 April 2030" which…
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In desperate need of advice on starting a pension
I have a pension sharing order from a divorce and need to put this into a new pension in my own name. I have been advised to see a financial advisor, but these can be costly. How do I go about setting up a pension? It's in the Royal London at the moment and would like it to remain there but they told me to see a financial…
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Making additional payments into SIPP
Hello there, I wish to make additional payments into a SIPP above and beyond those that will qualify for tax relief on the basis of my earnings. This is in order to fund the purchase of a commercial property within the SIPP. I have not used all of my annual allowance and have more than enough carry-forward allowance from…
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Where can I get a retirement planning spreadsheet??
I have seen lots of people talk about a spreadsheet that can project your income in retirement based on various factors. Is there somewhere online that I could see one of these or download one? My husband is very good at spreadsheets but neither of us really understand pensions or what figures we need to work it all out. I…
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State pension reduction?
My friend was telling me yesterday that her husband, who will be 65 in December, is/will be having some money deducted from his State pension because he has a private works pension (electricity board). A bit of background, he finished due to ill-health (work related) around 15 years ago and as far as I know is receiving…
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How many pensions do you have?
I have 2 plus state pension and 1 SIPP plus investments and property (currently being sold) which all form part of my pension provision plus my husbands much healthier pension. I thought it would be interesting to see if my pension provision is typical especially with women or men who have worked part time to ties in…