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Widows / Widowers pensions cut by 50%
How can pension fund providers / holders slash the surviving partners pension by 50% when the actual fund has not reduced? Is the 50% they keep management fees to celebrate the death of a pensioner? Are they just waiting for the surviving partner to die so they can keep the entire fund? This is Legal 'white collar' theft…
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Pension statement
Does anyone know the meaning/difference between Pension & cash lump sum paid by Ordered Method or Pro-Rata Method.
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Transferring LGPS Benefits
One for the LGPS experts I think. Last year I joined the LGPS, and at the same time transferred in an AVC balance from my former employer. The value of the AVC pot was about £37k and that enabled me to buy about £3k of LGPS pension at normal pension age. I have been contributing as an LGPS member since I joined. I am now…
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Too early for a IFA?
I have been reading this pension forum for several months and it is quite astonishing how much my understanding of pensions has increased. The generosity of posters in freely giving advice to others is a wonderful thing. I am 58 and have a view to retire in four or five years. One thought that keeps nagging at me - should…
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Queries on pension annual allowances
For the past 18 months my partner and I have both been contributing to our workplace pensions which allow us to make additional payments whenever we want to. I've done a fair bit of internet searching but I'm still to be 100% certain of just how much we can pay into them to benefit fully from tax relief. We both currently…
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What is the safest way to transfer a pension without losing value?
Hello all, I'm considering moving a couple of my previous DC pensions across to Alliance Trust Savings to save on costs as I reckon I'll save considerable amounts moving from a percentage based charge. However I am close to retirement and worry that going into cash and transferring across could mean selling in a sudden dip…
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My Dad's Pension - Lost??
Good Evening, My dad retires later this month, he has three private pensions paid into through his employment plus the standard government pension. He is having trouble with one pension and has been since i first told him to chase it about 2 months ago because he hadn't heard anything about it about (the other two pension…
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If i take 25% tfls?
If i take 25% TFLS from my Pru Private pension which along with my current Salary will push my annual income well into HRT bracket figure will i pay more tax on my earnings. Sorry for a stupid question
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What to do with an old CIS Personal Pension policy
Part of the joy of turning 55 is my now obsession about pensions and have found out how little I know. I have just received my first statement ( due to change of address remarriage) of a CIS pension taken out in March 1993. Ive never paid in to it and there's a guaranteed cash sum in 2022 of £3028 and a guaranteed minimum…
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No freedom for my pension!!!
I'm approaching 55 and I'm considering taking my ex Royal Mail pension at 55. I've read a lot about people getting a cash equivalent value and transferring it to my private pension so that i can draw however much I wish from it, get a larger tax free 25% in the first instance and in the event of my death I can will all of…
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Auto enrolement provider
Hi, I am about to choose a pension provider for auto enrolment but there seems to be a lot of choice (Now, NEST, people's pension etc). As an employer of 7 people and employee, I want to choose the best option for us all, but it's a mine field looking over their websites! Any recommendations or suggestions welcome. Thank…
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Pensions for Non-Taxpayers.
I'm 48, and will probably not work again. Is it worth still opening a private pension? I've heard that some still offer 20% tax relief for non-payers. If that is the case, can someone recommend a pension plan/company?
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emergency tax code - cashing in pension
hi a relative age 79 is cashing approx £17,000 in via 1 year Canada Life policy - and (generic) application asks for P45 for current year -otherwise emergency tax code applied & correct one requested from HMRC by Canada Life BUT my question is what form would a retiree have which can be sent with Application form to Canada…
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I don't understand pensions...
...which is bad news as I'm in my 40's. Can anyone point me to any resources so I can better understand how pensions work? Thanks.
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Cashing in a small Annuity
I have an Annuity with capital of under £5000. Legally I can cash it in. What is the best way of going about it? According to the newspapers, many of the ompanies are not willing to allow it, so in my contacts with them I need to pre-empt their refusal or blocking tactics!
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Adding a Lump Sum to a Pension from a Business Account
Hi all, I'm considering transferring a lump sum from my business account to a private pension. However, I'm uncertain of the tax implications of this. Will I have to declare it on a tax return and if so, what is the likely tax percentage that I will need to pay be? Thanks in advance.
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Cheapest SIPP for £30-50k in funds?
I'm going to move my current work pension into a SIPP as, while the fees are reasonable (0.4%), the fund choices aren't great and underperform vs. comparables. Fund is currently about £32k and new contributions will be minimal, I'd expect no more than £50k total value in the next 5 years all in. I have looked at the…
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Cash in Pension @ 55
Hi I have 2 private pensions - each only with a couple of thousand in - I am approaching my 55th birthday and wondered: 1) Can I cash the 2 of them in - will only have about £4000 in total from 2 pensions 2) As I am still in full time employment - do I have to contact the Inland revenue with regard to the money I recieve…
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Good life insurance?
Hi Guys Can anyone recommend a life insurance, we did a joint life insurance quote with Legal and general and it was £36 per month, if this about right? they also have a deal that you receive a £75 m&s card after 4 months, or is it best to do individually? This price was not for illness either, also when it asks the…
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Why would an employer not be interested in salary sacrifice?
I did a bit of reading on this and from what i could understand of it it sounded like a win-win for employer and employee so off i went to my employer and asked. They came back and said no they're not interested. I asked why and they said that one of the reasons is because they would still have to pay employees who are on…
