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Self employed
Hi Only just joined so please be gentle. My wife has just started a mobile meals business it's a ltd company, she pays her self £7200 a year. She has 3 pensions not active with small amounts in, I was going to restart her Aviva one by putting a little in each month from my bank account, would it be better coming out of her…
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How much is enough please?
Long story short. Repaid over £90k of unsecured debt over past 5 years following a DMP through SC plus paying off mortgage in full. Along the journey I received a couple of windfalls and a small inheritance used to make some full and final settlements. I also cashed in small pension pot as I simply wanted to be 100% debt…
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Cheapest provider for SIPP, with access to Vanguard Target Retirement funds?
I have searched on google and currently Hargreaves Lansdown seems to be the cheapest. I am 36 and I do not currently have any Pension at all and I want to get started paying in to one asap. Does anyone know who the cheapest provider is, that offers access to the Vanguard Target Retirement Funds? I also read that Vanguard…
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LGPS deferred benefits
I am retiring at the end of this year and am 57 years old and including an occupational pension transfer in have about 24 years service in the LGPS. I only work part time though but have worked various numbers of hours over the years from 0.4 to 0.98. Currently I work 0.6 and take home £11088. My husband is already retired…
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New State Pension: Legalised robbery?
In January 2016, I received a state pension forecast: just over £140 per week, which comprised my basic state pension plus some SSP I'd accrued. I retire early in November with 48 years NI of which 19 were 'contracted out' of SERPS/SSP. The £140 was to be in addition to my service pension from the armed forces. Under the…
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Cetv
:j:jHello all I have just received my CETV from a deferred pension with a view to looking into drawing it out. It's valued at £171,000. I do hold another final salary pension, so it's not my only option. Looking into the tax burden i think it's in the region of £25,000+adviser fee's, do you pay tax on a draw down product?…
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Pension at 40 where do I start!!!
Yes, I realise I've been stupid and left it way too late but just wondering where I start? I have savings in ISA's and various bank accounts of around £150,000 so could I start a pension with a lump sum of that money? If that's possible where do I start and how much would you advise to add as a lump sum and then continuing…
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Abuse of final salary pension schemes?
An interesting article in The Guardian about the funding difficulties faced by the Universities final salary pension scheme. The author, a professor and member of the scheme, writes: if a staff member has worked for 40 years, their pension will be equivalent to half their final salary. The scheme is reasonably generous,…
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annuity reduction
Hi I am new on here and need some advice, I am just panicking a bit until I can call my pension provider on Monday. I have had an annuity for 4 years from MGM and have been paid a monthly sum, of £289 , suddenly this week I have realised they have only paid me £144.50 just 50% of what it should be, and I cannot understand…
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child pension
Hi I am looking to start my children off with their pension. The amount to invest initially will be small, just £30 per month each which will come from the allowance I provide. They will hopefully increase this amount over time, add occasional lump sums and further as they move into employment. I am not an active investor…
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Starting a pension when 50yrs old
Hi, I've reached my 50th and only now financially capable to start thinking about when I retire. I'd like to start putting 300-400 away each month, but what's best... a pension plan, isa , premium bonds or ??? What pension plans are best given My situation.
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First pension for self-employed, 31 year old
Hi, I've never had a pension before and am now 31. In fairness after studying for a degree and masters, I got my first job aged 25 so it's just 6 years I've missed out on. However not ideal I know. Anyway, I'm self-employed and pay a basic rate of tax. Which pension would be best for me? I think I could spare max £100 a…
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Tax on pension payments
This may seem a very naive question but does taking a lump sum from my flexible drawdowns at the beginning of the tax year have more effect on my final end of year tax bill than taking the same amount in monthly instalments.! I am 73 and have three flexible drawdowns with Halifax Financial Services. My state pension is…
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Carry forward and higher rate tax.
I'm a higher rate tax payer. In previous years I've only paid a small amount in to my pension and have not taken advantage of claiming back the higher rate tax I pay. Someone has said to me that I can overpay in to my pension this year and claim back the 40% tax from previous 3 years. E.g. I earn £55k with benefits…
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Local govt pension
Wife has one , she has breaks when on maternity leave from over 25 yrs ago . Can she put any missed payments in the scheme ? Will she benefit much if she does this ,she will retire in 14 months
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Transfer of European Pensions
Llike many other UK citizens, I have worked in another EU member state (in my case Germany for 10 yrs) and have built up a pension pot, both state and private. I am now due for a lumpsum payout on a private German pension this tax year. Living in Germany, this pension would not be taxable. However, I am now resident in the…
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Higher rate tax relief on pension contributions
I used to be able to work these things out for myself, but I'm having a bit of a senior moment so would appreciate some help. So this year I hope to earn £61000. I obviously have a tax free allowance of £11500. Thereafter I get taxed at source at the rate of 20%. Please explain to me in simple terms, how much I would have…
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LGPS early retirement reductions: Why the M/F differential?
Just mildly curious as to why a woman's reduction is less than a man's? Ranging from 0.4% one year early to 2.3% thirteen years early. I would of thought, given relative life expectancies, it should be the other way round. Or am I being an eejit and missing something obvious? :) Source:…
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Age for taking personal pension
Has it actually been confirmed that the minimum age to start drawing down a personal pension is going up to 57 in 2028? I thought this was suggested but then never put into legislation but I've been doing some reading over the last couple of days and it's still appearing as fact in various articles. The idea of linking the…
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Pension Credit and Pension payout
Hi, I've just had a letter saying I have a pension worth £8000,what would you like to do with it. I have four months till my 65th birthday and would like advice as I am on Pension credit because I cannot get a full pension and would like to know how this affects me and my wife who is on full state pension.It would be nice…
