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Advice needed please.
I have a final salary pension that was frozen when i left that job after 17 years. It still accrues value at either inflation or 4.5 percent which ever is the greater. It was a contributory scheme and it was an opted out of the higher NI contributions. I'm now 58 soon and can draw it now at £5300 per annum approx. I get a…
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Annuity with Assure expiring in 6 months
Does anyone know what is possible? My aunts deceased husbands private pension is currently with Assure and it's currently in a annuity scheme which expires in approximately 6 months. With the recent changes in April 2017 on selling your annuity to cash out, how would she declare her intentions to ensure Assure doesn't sell…
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Safe withdrawal rates and charges
My OH retires early next year and his main pension pot is £355K. I have been reading about safe withdrawal rates and was comfortable with 3.5% which will give us the income we need. However, I have not taken any charges into account. 1 Would charges of 1.5% be a worst case scenario or is this estimate too conservative? 2…
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Letters offering to find lost pension contributions
I've had a couple of letters recently from companies offering to track down any lost contributions to pension schemes or resulting from contracting out of SERPS . They require the signing and filling in of forms along with your NI number etc and they show you quotes from satisfied customers, as they do.. I don't have the…
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personal pensions worse than workplace schemes
https://www.ftadviser.com/personal-pension/2017/07/20/personal-pensions-worse-than-workplace-schemes/ "Individual personal pension plans do not have any formal body that monitors their performance." If one was set up what would it monitor?
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Combine Pension Pots?
Morning all, Just looking for anyone with experience of combining mortgage pots. My wife (aged 30) has three pensions, all relatively small. The first pot was built up in her first job over a couple of years so at the time she was earning very little and it didn't amount to a huge amount. We carried on paying into this…
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Raid Pension Pot to pay off Mortgage or Equity Release?
Dear Forum, I know this question has been posed before but my circumstances are a little different and I would appreciate a little advice please. I have just turned 53 and was recently made redundant. Thankfully I have redundancy insurance which will hopefully enable me to keep my head above water for the next 12 months…
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How are pension forecasts calculated?
I've seen it online - you need a pot of x to retire at y to give you z cash per month. But how is that calculated? What are they assuming? It's just something i thought of earlier. For example my dad paid in the majority of his working life, retired at 65, died at 68. My gran on the other hand retired at 65 i believe and…
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Royal London Pension help
I have a with profits stakeholder pension with Royal London, i have also recently been auto enrolled into the nest pension scheme. Would i be better off transferring my Royal London fund across to the Nest fund? Or would i be better off with a completely different pension?
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Platform choices
Does anybody know of any websites where there is a comparison of costs for each of the SIPP/ISA provider platforms ? Thanks
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AVCs - How to Calculate Loss in Take Home
So I got a bit of a kicking on another thread for not taking advantage of my company's matched pension contribution scheme (and rightly so now it's been explained!). The company I work for pay 10% non-contributory towards a pension scheme (Blackrock). Furthermore, for employees under 36 (I'm 30), they will match each 1%…
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Accessing My Pension Pot
I'm 57, male and single. I've been told by my former employer that my pension pot is £256,000 which, if I apply now, will give me £23,500 as a lump sum and £5,600 as a pension. I'm in desperate need of £60,000 at the moment and I've been told that I can get a sum of 25% from my pot but I need to transfer the whole lot .…
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Sipp newbie, can you pay in v small amounts
Hi all Looking for advice on Sipps (i think) and don't know much about them. Wife currently receives carers allowance for looking after our son. She wants to start doing some part time work while he's at school, not sure exactly what yet, possibly bank hours in her old care job, or work as a personal assistant for a/some…
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Storage Pods (storage first) getting money back ?
I am a new user and asking advices for the first time.Its re having invested money in the above I am aware this is now a problem ,despite having used a Solictor and a government registered company to invest a considerable amount of pension money.As anyone had any experience or advice as to how best to get my money back…
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Transfer a small Royal London and NHS Pension to LGPS?
Hi My partner has a Royal London pension which has a transfer value of £4279.30 She has recently changed jobs and joined a Local Government Pension Scheme. They estimate that the transfer would buy an annual pension of £404.76 and a contingent spouse's pension of £123.96 I am trying to determine whether it is worth…
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Teachers Pension Scheme anomalies
Hi, Has anyone ever managed to get a clear explanation regarding their Teachers Pension and so called "Days Out" in their annual summary. I've never missed a monthly payment (DD from salary) in my entire 10+ years in the scheme yet the annual summary reckons my membership s only worth 7 years or so. Teachers Pensions say…
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Safe withdrawal rate UK / early retirement
When thinking about early retirement, what safe withdrawal rate figures do people use in their assumptions? I am aiming to “retire”, or at least not need to work, as early as possible. In order to calculate how much I would need to stop work indefinitely, I think I need to estimate two things: 1 - How much I would like to…
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Calculating higher rate tax payer optimum additional pension contributions
I hope you can help. My partner earns £68000 pa including taxable car allowance. He also has a taxable benefit of free healthcare, I think they said it was £35pm equivalent. He pays 4.5% into his employers pension which is matched by the employer. Neglible income from savings/investments (under £45 last year). He also has…
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Guaranteed minimum pension
Hello all I'm new to the forum so please bear with me I am 51 and have a deferred pension with a gmp of £3800 per year payable from age 65. I was in the fund from 84 to 88 and was given the these figures when I contacted them in 2012. So, 1. Any ideas what the transfer value of this fund will be? 2. If I don't transfer…
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Final Salary Pension Scheme
I've just started a new job where they offer a final salary pension scheme. I've always understood that the basic calculation is years of service x final salary divided by the accrual rate. In my case it would be 13 years x £30,000 divided by 1/120 so £3,250 pa. Over the 13 years I personally would pay in approximately…
