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Workplace Pension: Increasing Employee Contributions Issue
Good afternoon! Seeking a bit of advice on a workplace pension issue I currently have. More than 12 months ago I requested my employee contributions be increased from the automatic minimum it was set at when I was auto-enrolled. However, after chasing numerous times, it has taken my employer 12 months to do so, meaning my…
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Capital Preservation - ideas/feedback
I'd like to open up a discussion on how people post accumulation are handling capital preservation. what approach / investments are people favoring? I've not noticed a recent thread covering this head on, so my apologies if i have missed it/am in the the wrong place. I am in the fortunate position of having accumulated…
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Pay no tax?
I have decided to take my state pension next week as lump sum,24 months after reaching my 65 th birthday as i have health issues,i know the enhanced pension is better off in the long term but they might not be a long term. Now as i do not earn any money,live off my wifes state pension and private pension is the following…
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Pension projection from pension provider
Hi guys, I have received an illustration of my plan from friends life and I am slightly confused as to how they deduce the amount i may get in retirement age. I have contributed £850 this year which was matched by my employer so a total of £1700 My balance is £1700 including all previous years as this year is my first year…
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Benefits to having several pensions/everything in one pot?
I'm just sat looking at my pension policies, I have one with Standard Life that I currently pay into, current value just under 7K, I have a dormant Axa policy with nearly 18K in it, I also have just under 6K in an old Equitable Life policy and my employer has this year enrolled me into a Now pension scheme, but with a…
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Level Benefit query?
Can anybody give me a definitive answer as to whether I can, at 57 with over 40 years continuous employment with one company in a Final Salary Pension Scheme take the level benefits option and continue to work for the same company? Thanks in advance - sorry very new to this sort of thing and working out all options
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State pension - advice please
I must say first off that I have zero knowledge of how all this works so apologies if I am asking stupid questions. I will be eligible for State retirement pension in April 2018, I have checked on line via HMRC and have got back the following information :- Number of years contribution 48 Pension entitlement £129.44 per…
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ReAssure
Hi hoping one of you kind contributors can help please? I wish to go down the route of flexi-drawdown when I retire in a couple of months. My pot of £95,000 is with ReAssure (formerly with Guardian). They have written to me showing my possible options including flexi-drawdown. This is new to me although I have viewed the…
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Local Government Pension scheme
Hi I've been a member of the LGPS for about 20 years and have worked for a few LG employers. My latest employer (of the last 3 years) are the first one to ask me if I want to combine my benefits into one fund (i thought this happened automatically anyway?). I plan to end my employment in LG in the next few months and have…
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Best SIPP to invest in commercial property. Also best mortgage for a SIPP
I'm looking at purchasing a commercial property as an investment. Can anyone recommend the best SIPP to hold the investment in? Looking at ones that hold property and also have reasonable terms/fees. I've previously bought residential so this is new to me so any advice appreciated. My SIPP value is approx £130,000 at the…
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Taking money out of pension after 55
I am over 55 and contribute to three private pensions which are all unit linked and I think are actively managed. They are all with Reassure. I can only take 25% lump sum and then an annuity with these. I am thinking of transferring the three to the “Reassure Retirement Account”, which is passively managed. I would be not…
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Withdrawing pension before 55 to invest?
Hi all, I have good overall financial knowledge as I manage a team of mortgage advisors but I have little experience of pensions and investments so could do with some help if possible. I have been told that it may be possible to withdraw 55% of your pension pot (whenever you like not just after age 55) to buy a property…
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Tax on small pension pot
Hi I am due to collect my deferred Final Salary pension at the end of this year, it is worth £15k pa, this tax year I will receive 5k. I have no other income apart from interest on savings though technically I am self-employed. In addition I have a small FSAVC pension pot, maturing in November and worth 8k - I intend to…
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Pension illustration from friends life
Hi guys, I have received an illustration of my plan from friends life and I am slightly confused as to how they deduce the amount i may get in retirement age. I have contributed £850 this year which was matched by my employer so a total of £1700 Now on the heading which reada as what might i get at returement, this is what…
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When should I stop SIPP contributions and put money into an ISA?
Does it make sense for me to switch my monthly SIPP contribution (into Vanguard LS60) to an ISA contribution into the same fund? My circumstances are: - I hope to dramatically reduce my (self employed) work from April 2018. I will be 55 years old in March 2019. - I have enough accessible cash to live on from from April…
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Lifetime Allowance Calculation
Hi all, I'm currently a teacher paying into my TPS. I'm aware that you can only contribute 40K pa and have a pot of 1m in your lifetime before addition tax rules come into play. I have logged into my TPS account but for some reason cannot find out what my absolute total pot is worth or my contributions to date. All I seem…
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Urgent Transfer Issues
Hello, Really hope someone can help... I have two pensions which I am trying to transfer from Towers Watson to Standard Life. One of the pensions has a transfer deadline of 15/08, if the transfer has not been completed by this point then I will be reinstated back in to the State Second Pension by making a payment to HM…
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Pension increase exchange
Recived a letter from my company pension I can give future annual increase for exchange for uplift Figures are current pension £7429.42 If I take the option of uplift £8361.77 I'm 58 yrs of age took my pension in June 2017 Any help would be great if you need more inflation please ask As the letter says that diffent parts…
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DB Pension Suggestions
Aegon UK had a DB scheme that closed to new entrants in 2003 and stopped accruing in 2013. My husband worked for the company for 5 years 1997-2002 and left when our daughter was born. The scheme is now managed by Mercer. Based on current info provided by Mercer, the scheme will payout £1,183 per annum to him when he…
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Help please option 32
Hi , This is my 1st post .. I'm soon to be the golden age of 60 ..😁 .. I have a option 32 pension with CIS..which had a transfer value of £1000, in 1992 My GMP ..£ 252.00 per yr .. Would like to take a lump sum WHEN I'M 60 . Could anyone help me with with a guide to how much i would receive Find pensions bit mind boggling…
