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Pension Scheme being wound up
Hello A old Company Pension scheme is being wound up by my employer / trustees, When I last looked at my the fund I was told there was £22k I am now being told there is only £14K as the rest is being used to wind up the scheme? Thats a lot of money? I am only 53 so they say my options are as follows 1) Transfer the money…
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Transferring Pensions
Hi All, I have an old Aegon pension valued at £8k that has been dormant since 2015, when I say dormant I mean no funds have been added to it since this date. I am now working for a new company that has their pensions administered by Willis Towers Watson, my existing pension there is worth around £5k and I am thinking of…
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Opting Out of NHS Pension/ Moving to USA
Hi all, This subject may have been touched but as I am new I cannot find information on the questions I have. Please, if someone could lend some advice for direction. I am an American living in the United Kingdom and I am employed by the NHS for which I've been working officially since 2015 (I was a temp through Meridian…
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IFA's and Insistent Clients?
I have decided to cash in my pension pot for full amount withdrawl,it has Guaranteed Annuity attached to it but I am very willing to forego it. I also realise the tax implications I shall incur,again no problem. The amount is just over 67k,and I stopped paying into it many years ago because of financial restraints…
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L and G Equity Release TV ad.
Siren song of smiling silver haired couple - release the cash in your home and give it to your grandchildren - any drawbacks to this perfect solution?
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I really like the idea of a SIPP but looks like too much hassle
Hello, I'm 42 and in a defined benefit scheme with my employer, but in 2014 they changed the benefit for future contributions to be significantly worse (e.g. I used to call it final salary, but that is no longer accurate). So in 2014 I started contributing to the same employers defined contribution scheme as well. I don't…
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Mortgage Free - Or Not?
Hi My partner and I are considering the early retirement dream and are in the early stages of planning. During our planning, we keep seeing that becoming mortgage free is the first step on the ladder to early retirement. This seems eminently sensible if you have children who you may want to pass a house on to and to reduce…
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Age 65, Pension provider insists I consult IFA
Apologies, very little info to go on but here goes. If someone has reached the age of 65, can the pension provider dictate that they MUST consult an IFA before allowing them any access to any of their pension pot? This is going to cost upwards from £500, when they already know what they want to do it seems a bit much to be…
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pension top up from previous tax years
hi i have never topped up my pension using post tax income and am thinking about doing this. i heard you can top-up upto 40k a year for past 3 years? is this 40k the total after the tax rebate or before? my main question is can i top up from say 2 years ago rather then current or previous year or does the allowance have to…
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Have I got this right r/e HL SIPP pension
Right here is my situation Me - 53 disabled not getting ESA due to savings, getting DLA, getting a £100 a month pension from local government Wife - 46 working as a teachers assistant, 30 hours, earning £11,400 a year, paying minimum into government pension no dependable kids Now ive been playing on the tax credits website…
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Salary Sacrifice on Pension contribution
I am wanting to find out what the benefits are (if any) of going salary sacrifice for your pension contributions? Can anyone advise?
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Massive changes in CETV value
Hi, I'm in the process of transfer out of my DB scheme ( hopefully the money will be transferred tomorrow to the Pru) but i still have access for the time being to the pension portal and the DB valuation. On the 30th June my Valuation was £549k however I checked today before i lose access and the valuation has dropped to…
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LGPS Pension - Transfer or not!
Aged 37, recently left work for the LA and have accrued a pension pot just shy of 50k. It's an LGPS pension and so I can't continue to put into it now as I have left the council. I am trying to figure out is it worth transferring this pension or leaving it where it is. I suppose that if I return to council work in the…
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Which SIPP credits the tax relief immediately?
Someone mentioned their provider credits the tax relief in a SIPP immediately. Is anyone aware of which one this is? Thanks!
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Advice needed please
Good evening, hope someone could offer me some advice please. I was made redundant a few months ago and, as I am 58, have to take my LGPS pension. I've just received my options which are to take a standard pension of £5900 with a lump sum of £6100 or convert to the maximum lump sum of £27700 with an annual pension of £4100…
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Any advice e for pension newbie?
Hi. Extreme newbie here wanting some/any pension advice. Kind of a what would you do situation. Very small fry compared to some posts on here. Back story is – was in a works pension until getting made redundant. Took some as cash – which has helped recently with getting a good – for me – deal with my mortgage (reduced…
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DB Pension Vs. Pay Increase
First of all sorry for the long post. I work in the public sector and contribute to the LGPS. Despite my good knowledge of pensions through my job, I feel comparisons like this are quite subjective so I would be interested in hearing other people's opinions as to where they think the break even point of lower salary and DB…
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State Pension - Entitlement when spouse dies
Hello, I wonder if anyone can help, please? My father recently passed away and when I spoke to the DWP to let them know, they said my mum might be entitled to an increase in her pension based on his contributions. Certainly the amount he received each month was more than double her pension, so we're hopeful this might be…
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Trivial pension
Hi. My mum who is in her 80s has received a lump sum from my late fathers pension in lieu of a fixed monthly sum. She has however paid emergency tax on it. Am I right in thinking that she shouldn't have paid tax on this. Her tax code is 115L. The lump sum was circa 20k. Her state pension is £88 a week, so obviously the…
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Additional payments into NHS or private
Hello Can anyone advise? Have NHS pension started last year (age 37) work part time so minimal in there. Have 3 other small pension pots from previous employers. Would I be better paying into additional payments in NHS scheme (2015) or setting up private pension? My NHS retirement age is 65. Thank you
