-
Flex retirement agreed then refused
Hi, I am hoping to get some guidance with my situation. Briefly I applied for flex retirement back in June, to take effect after my 55th birthday in Jan 2018. This was formally applied for via my HoS in June and shortly after I was informed it had been agreed by the finance manager etc. As of yesterday I was informed that…
-
application for state pension questions
hello, just helping my mum apply online for my dads state pension which he will be eligible for in december. They are a bit anxious and i cant find the answers to their questions online so hope someone here can help 1 - my dad currently gets pension credits. Mum isnt on his claim. Given that the rates we have seen for the…
-
Pension payout, wrong tax. Need advice.
Sorry if this is in the wrong section but my dad today got contacted by Inland Revenue saying he owes them £22,000 in unpaid tax. This was from a couple of pension payments he took out of his pot over the last five years or so for various reasons. This is BEFORE retirement. Standard Life told him when he asked for the…
-
£32,000 Annual allowance?
The Pension advisory service website says "The annual allowance is a limit on the total amount that can be paid into your pension scheme(s) each year and still receive tax relief". This is not true. I put £35,000 into my SIPP last year from my post tax income and I'm told that I cannot get tax relief on any more than…
-
state pension and tax
This is something that has bugged me for sometime. When my wife and I receive tax statements from HMRC they over state the state pension we actually received within that tax year. This is because as the state pension is paid 4 weekly and in arrears, any pension increase in due from April is not received until much later…
-
Losing the will to work!!
Has anyone else found this? I have worked full time and part time during my career. I am presently working part time (very part time as they are removing responsibilities from me as I approach retirement). I have always found this particular job relatively stress free but the closer I get to my retirement date (31.12.17)…
-
How do you define "Early Retirement"
Hello all, Just a post out of curiosity really! How do different people define their early retirement? I have read through and posted on threads and there appears two unspoken definitions that cry out as follows:- 1) Stop work completely before state pension age. 2) Leave main career that built savings/ pension pots etc…
-
Civil Service Alpha pension EPA
I'm considering investment options and trying to weigh up the pros/cons of the Civil Service pension EPA vs making similar contributions to a personal pension. The question arose from a previous thread I started here Alpha pension accrues at 2.32% of pensionable earnings with the cost of the three year EPA being 2.8% of…
-
Fleeced by Financial Advisor? Pensions
I'm just joining my company pension scheme but I'm really unsettled by the way its being implemented. My choices - 1: Join nest and they will put in the minimum contributions 2. Join their company pension scheme with 4% employer contributions So #2 is a no brainer really... except. It's suddenly come to light that of our…
-
LGPS capital cost updated
Today an email has been sent to HR asking them to re look at the capital cost of my flexible retirement, as the finance team believes there are discrepancies in the figures. Has any heard of a mistake being made. thanks maz
-
How safe is a Self Employed pension ?
Hi, Not quiet a true pension question but seemed the best section. If an average working self employed person has a personal pension fund and they are sued for damages ( not work related) can their pension fund be ordered to be used to pay the damages the court orders ? I would have thought such a pension fund was really…
-
Change of name by Deed Poll and Pension
Hi everyone. firstly I am new to site, so I hope I am posting in the right place. I am a transgendered individual and recently changed my name by deed poll which I did online myself. I am currently in the process of notifying all the relevant organizations and agencies....long process. So far most organizations have…
-
IFA fees -how to pay
Good Afternoon all For those people who have successfully transferred from a DB/final salary pension how did you pay the fee to an IFA? Was it deducted from the transfer value or paid separately?
-
Aged 55 and 25% tax free
I’ve got four pensions from different employers over my career and I’d like to know is there a way to draw 25% tax free once I turn 55? I’m unsure if I have to write to each or is there a standard form or money saving expert template letter I could use? Would I be advised to use an IFA for this purpose? Many thanks in…
-
State Pension - Marriage
Hi folks. Does anyone know how long a couple must be married before they are able to (potentially) inherit the other halfs state pension. My parents have been partnered 30 years plus and have only just realised (penny dropped). That marriage may be a good idea for a few reasons with regards retirement planning
-
Protected Rights Growth?
Hi all Good morning. I have some questions concerning the now obselete "Protected Rights Pension". I paid into a pension 20 years ago and opted out of SERPS. My current pension with exactly the same original provider is split into two parts: Protect rights and Non Protected rights even though that no longer exists. I…
-
Can you delay receipt of pension
I have a small pension which is due to start paying out on my 60th birthday later this year. I am continuing to work full time, and intend to do so until I reach my statutory retirement age of 66. My issue is that I do not need the additional income from the pension, and prefer to defer receipt of this until the time that…
-
CETV minimum transfer value
Hi, ..my current FA has advised they will not consider doing a CETV unless the total amount is for more than £180k... is this normal?
-
Those Things you do...
Prompted by this quote; This has always struck me as as important a part of the retirement planning as the financial side, even though the two are massively overlapped. I'm hoping this is the path we will follow, starting Jan 2018, constructive, enjoyable, life-enhancing hobbies.. Mine and my wife's hobbies; Hill walking…
-
NEST cheapest pension on market?
For a pot of £70000, they are charging 0.3% total. Most sipps charge around this just for the admin.