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DWP help after someone passes away.
Hi, I hope someone can help me on this please. Im asking on behalf of my mum. My dad passed away on 3rd July and when we registered his death a few days later we used the once service who advise government people of someone passing away. My mum received letter said from dwp advising her what her payments would and the last…
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Tailor made GMP plan...help!
Hi I am just looking for a bit of advice. Fathering law passed away 3 years ago...husband was contacted by aviva about a Tailor made GMP plan (pre 01/92).. he didn't do anything about it as wasn't in the right frame of mind. Now he's come across the letter again and contacted aviva....they have sent out a death benefits…
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Four more years NICs for full state pension - Clarification?
I have read various threads regarding payment of "X" more years NIC to qualify for the maximum state pension. I have a clarification request if anyone can help? I am age 60 (at May 2017) with a state retirement age of 66 (May 2023). Over the weekend my pension forecast from the government website says if I pay four years…
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Newbie Pension Advice needed
Hello pension gurus Have just turned 55 and considering pension options. I have a modest Executive pension about 100K which I cant get my hand on in my current scheme so planning on transferring to something more flexible that would give me more options. Am currently looking at Hargreaves & Landown ( mainly because they…
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Pension for my wife
My wife only works part time and does not have a pension apart from being auto enrolled in Nest. The amount going in per month is trivial, a few pounds a month. I believe I can make payments in to her account and she would gain the tax relief. Would it make sense to pay into Nest rather than open a SIPP? The payments go…
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Pension pot if you die
Hello, I am wanting to get back on track with paying into a pension. I am 44 and haven't paid into a pension since I was in my 20s when I had company pensions. Since then I have worked through my own limited company, taken time off to have kids and am now self-employed (sole trader but could move to limited company again).…
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Pension pot and Life Time Allowance / crystallisation
I am 60 years old and have a money purchase pension pot of about £1.2m (just under my registered LTA of £1.25m), and no other pension schemes. I have not crystallised or made any withdrawals from the pot yet. I have enough savings to live on for the next 5 years. Would it be sensible to crystallise the whole pot now to…
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State pension for surviving spouse
Hello, My understanding is that our state pension goes with us when we pass away. I would like to know if there is a way within the State Pension system, to make provision for my spouse in the eventuality that I am the first to "go". Is there a possibility to pay more NI to guarantee a part of our SP for a surviving…
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Best stakeholder pension?
I want to start a stakeholder pension for my son, who has learning difficulties. I will also have to start one for my other son, who doesn't, because it wouldn't be fair otherwise! They are 23 and 21, my business is doing well at the moment, and I want them to benefit from the sort of financial planning that I made when I…
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NHS 2015 scheme and impact on salary sacrifice
I've been trying to work out the impact of a salary sacrifice that takes you from just over the Tier 4/5 threshold of pension contributions into the CARE NHS 2015 scheme to just under. In tier 4 you pay 9.5% of your salary and in tier 5 12.5%. Cut off point is 47kish. Am I right to think that as this scheme is based on…
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Hefty MVR being imposed by Phoenix Life
Back in the 1980s I contracted out of SERPS and chose to have the earnings-related part of my NICs paid into a with-profits policy managed by NPI. All arranged through the Halifax. Not much was ever paid into it because within a relatively short space of time I joined a firm who had a final salary company pension scheme.…
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Pru Pension update
Following my question on can i start the ball rolling early on accessing my 25% TFLS I spoke to them yesterday and i can do it one month from when im 55 and nominate a day after im 55 when i want the monies paid into my bank.
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Brexit and AVCs
I'm on a long countdown to my planned retirement in Spring/Summer 2019, everything on track and going well. However, I just spotted something in latest edition of Moneywise indicating that the March 19 Brexit deadline could well impact on interest rates. I know no one has a crystal ball, but I'm assuming this would also…
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Investment returns...brilliant chart
I came across this chart in my web search for the ultimate answer to all questions investment related. It may not answer them all, but it is very good and does deal with a fair few. I really recommend it to all. Download the pdf version so you can zoom in on the amazing detail of long term market returns by year, portfolio…
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Can Someone tell me how much I would pay to HMRC?
I have a pension pot of £60k. My tax code is 1150L. I am allowed to take out £20k at 20% tax under the pension freedom rules according to HMRC and the remaining balance would attract tax at 40% if I withdrew it. Does that mean I would have to pay 40% on the remaining £40k so I would be paying £16k in tax on the £40k? Thanks
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is it worth me joining company pension ?
Hi I am 51 and currently have £328k in an Aviva SIPP pension The average gain has been 17% per year for the 5 years I have been in it, so has performed very well I am looking to take some of the tax free amount to pay off my mortgage , which will give me £1k extra a month, when I am 55,(3 1/2 years' time) depending if the…
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Scottish Widows Web site
Anyone else having issues with Scottish Widows Personal pension website been down since late yesterday ?
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Don't understand my pension!
I have had a work pension for the last 10 years. I work for a local authority so they have contributed all that time too. It is just something that goes out that I stupidly haven't thought much about to be honest. My annual thing came today and I've tried to get my head round it and I think I understand most of the stuff -…
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Limits on Pension (SIPP) Contributions
I am currently struggling (and failing) to get a verifiable answer to this from the Pensions Advisory Service... May I make cash contributions into my SIPP in excess of my Annual Allowance if I do not claim any tax relief on such contributions? That seems a simple question, but all the information that I can find relates…
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Annual Allowance calculation for SIPP
Hi - Quick question. Have a DB linked AVC so actual AVC contribution * 12 = annual allowance value with tax being ignored. What about for a SIPP - does the BR tax relief need to be added to personal contribution to arrive at Annual Allowance value? For example, pay £200 pm into a SIPP = £2400 p/a, plus tax relief of £600…
