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What's a sensible cash buffer during drawdown?
My pension is in various funds with an approximately 60/40 equity/bond split. When I (semi)retire at age 55 I think I want to set up a flexible drawdown. I'm aware (mainly from reading this forum) that I need to avoid eating into my equities when the markets head downwards and that to do this I should maintain a cash…
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State pension - voluntary contributions
Hi. I'm 31 and I'm trying to work out whether I should pay voluntary NI contributions for 3 years where I did not pay enough NI. The info online seems to be aimed at people near retirement age not for people in my age group. I think I would benefit from paying the money for these three years but I would appreciate some…
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Annuity Advice Requested
Hi I am 65 years old with a Pension Pot of £255K I have decided to go for a joint Life at 50% My wife is 60 We are both in fair health Im trying to maximise the Annual Income But also add protection for Inflation Point 1 Option A 50 % Spouse Guaranteed 20 Years Annual Increase RPI Annual Income £6,620.00 Option B 50 %…
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Late payment by NI of contracted out payments
Hello everyone, I recently received a payment from NI of 1754.09 as age related payment for tax years 10/11, 11/12, for my contracted out pension as those years earnings were recorded in july 2015, they would have paid direct to the plan before april 2015. I have to fill in a tax return every year. My question is , surely…
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SERPS - advice please
About 25-30 years ago, when i was about 18, I was advised to contract out of SERPS and start a private pension (with Barclays). I was on sick leave at the time, so the contributions were paid by the government. This lasted for less than a year, then I was back in employment and did not pay any other contributions into the…
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Ill Health Retirement Financial Advice
Hi All I am just waiting for work to consider my ill health pension application now the independent practitioner has advised I should be retired on ill health grounds. I am 41, and hopefully my condition will allow me to live to a reasonable age although I will get worse as I go along. I was after some financial…
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Pension management charges
Hi everyone My partner has had a Stakeholder pension since 2000 with Legal and General. At the moment she pays £113.91 a month but is charged £12.81 a month management charge. This seems a large amount of money to me. Is this the norm ? Could anyone in the know advise on the best course of action ? I'd like to think I'm…
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Help me get to grips with pensions please!
Hi, I'm 32 and have been paying into a work pension for 18 months (I know! I just never got round to it and can't change the past!) I've recently had an increase in income and am thinking of using it for my future self, as present self manages ok (just!) without the extra money. I've looked into my pension and it appears…
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Another Final Salary Transfer - Opinions?
I'm 53, and have health issues so there's a good chance that I won't make it much past 70. I have a final salary pension of about £19.5k from age 60. I've received a CETV of £594000 and I'm seriously thinking about going for it. However, I'm a fairly cautious investor and looking at the position of the markets it looks…
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Old Pension Question
Good afternoon, I've been with my current employer for 21 years now. When I initially joined I was auto-enrolled in the companies pension scheme in error. A few months later this was stopped and several years later I joined their current pension scheme. Until recently I had completely forgotten about the original pension…
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Private pensions, tax free lump sum advice please
My SRA is April 1st 2018. I have been getting illustrations of potential benefits from the various pension schemes I have contributed to during my working life and both of the pensions I have had info from so far (one more to go) are offering a tax free lump sum (with reduced pension benefits of course). I am currently…
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Pitfalls of combining pension schemes
I have three defined contribution pensions, all created by my employer with Standard Life while I have been in the same job. The first was created when I signed up (value £1k), the second was created when my employer switched to auto-enrolment (value £20k. I wasn't affected by auto-enrolment, but my employer reviewed all…
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Cash Transfer Value of my deferred Local Government Pension
Am 51 years of age. I am about to ask for a Cash Transfer Value of my deferred Local Government Pension to transfer whole sum into my Defined Contribution pension. Deferred value is £5000 with a lump sum of £10K. Any guesses on transfer value or calculations used?
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Government pension scheme
Hi, My daughter pays in to the government pension scheme. On retirement will she get just this pension, or get the state pension aswell? Thanks, Candy
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NHS pension -opt out?
I have paid into NHS pension since 1985. I have MHO status so after 20 years service, the years are doubled. So in effect I think I have the equivalent of 44 years service.I have been told that after 30 years my pension contributions don't count to my final figure. I'm considering opting out for 2 years and use the £340 a…
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SIPP to ISA
Having retired and taken my 25% tax free of £100K pension. Investments in remainder of pension are invested making 12+%. Is it worth taking money from SIPP with 20% tax paid over next few years and re-investing in existing ISAs also making approx 12% but cash can then be taken tax free.
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S&N Pension
I worked for Scottish and Newcastle for a few months when I contributed to a pension. It is not much but I did put my money into it. When I left I received a letter saying if I did not respond I would be closed. Which they did. What I want to know is this a normal process to close pension and for the customer to loose all…
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Auto-enrolment pension
I am 63 this year and have just been permanently employed at my local council and they have automatically enrolled me for a pension. I realise this is the law, but I am not sure that it is worth me paying into it at my age. I don't have a private pension to add it to, as for over 22 years I was a full time carer for my…
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Pension provider query
Hi Asking on behalf of a friend. He is 30 and a salaried employee of an international company based in Europe . He is the only employee his company as in UK so they don't run a pension scheme as such. However he has been told if he can find a provider and contributes some money, company will match it. My question is is…
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Transfer old pension?
Hi, I've recently moved into a new company with a final salary pension scheme, my old pension that was set up by my previous employer has about £35k in it and I've just been sent some forms asking what I want to do with it. I can leave it as it is and not contribute anymore or it says I can transfer it. With my new pension…
