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Reaching pension age
I am shortly due to reach pension age and have a couple of questions that I'm hoping someone here can answer. Firstly, I have spent an age searching but I can find no information whatsoever about when pension credit ends. There are hundreds of pages explain when you can get it but none mention an end date. I'm absolutely…
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Does work pension lump sum count as annual income?
I'm taking my work pension mid December (I'm 60) but because I didn't take any holidays this year due to covering for a longterm sick colleague, I can actually stop working end October, but still get paid for November and half December. However, the pay office has paid me for October, November and half December altogether…
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Is my workplace pension money just lost? (French working in London)
Hello all, I am a French expat and have been enrolled in my workplace pension for 3 years now (Zurich). I will be starting a new job at the end of November and started looking more into my workplace pension ahead of the change. But what I have found out scared me a bit. I am not looking to live forever in the UK. The plan…
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Investment and other charges - good value?
I'm in the enviable position of having £600k+ to invest in a drawdown scheme. I've had some initial quotes from a financial advice company (I won't name them yet, but bear in mind they are not the fund managers) and their upfront fees for setting up the arrangements are 1.8% of the fund value (i.e. they want a lot of…
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Time to go?
Dear All, I am looking for any views / second opinions on my current situation regarding whether or not I should pull the trigger on my wife and I to retire end of March 2018. We are in the fortunate position to be mortgage and debt free, in reasonably well paid jobs, but the level of corporate B/S has gradually brought us…
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Please confirm ny thoughts re TFLS
If a person takes less than 25% of their fund, no drawdown of the remainder,will they be resticted in later years to contributions. Salary 25k
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Avc
When I started teaching in 1999, aged 49, I took out an AVC to supplement my teacher's pension. Now that I have retired, aged 67, I would like to cash in my AVC. I know that I can claim 25% of the lump sum tax free, which is what I should like to do and to leave the remainder whilst I consider my options. However, the…
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Should I start paying into a pension - advice appreciated
Would really appreciate your views on pensions. I normally get around 20K dividend on top of 30k salary each year. This year the accountants have said we should take 5K dividend (tax free) and use the rest to make a company payment to pension. I am 52 with 400K house (no mortgage), 170K cash savings, 5K Ratesetter, 38K old…
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Close to LTA limit
Hi folks, Just need some ideas and suggestions. I am closer to the 1m lifetime allowance than I realised. I calculated that my sipp/ work pension pot is at about 720k now plus I have a defined benefit scheme estimated to be about 8k. I have planned to remain fulltime for a year or 18 months and pay in around 30k a year in…
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Salary Calculators
I am trying to work out what % AVCs I should make to my pension in order to: 1). Not have to repay child benefit; 2). Qualify for the lower tax bracket and benefit from marriage tax allowance (my wife is well below the £11.5k threshold). When playing with the numbers, I'm also trying to understand exactly (or at least to…
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Nest Pensions: Useless!
Hello everyone, have decided to kick start off this forum as have had some terrible experiences with Nest Pension provider and looking at their Facebook page I'm not the only one! The purpose of this thread is to see what problems other people have come across and whether they have ever managed to resolve them. In my…
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Pension and 55yrs old
Hi I am new to this forum so wondering what I can do with my pensions, I have a dormant pension from previous employer which is only growing by interest only, not adding to it as new employers started a new Pension, It is worth very little when I retire , the company reckon it would product £160 a year!! I also have a…
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Proof of ID impossible
I have to redirect the post from my sister who has just died. You can't do it online. The Royal Mail form asks for 2 utility bills or original bank/credit card/mortgage statements (in last 6 months) but won't accept bills printed from the internet. All my dealings are now on the internet. How can I proceed?
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Career Break/Draw Down/NHS Pension
Hi, I am 58 and I am taking a 2 year unpaid career break in order to provide childcare for my grandson. Would it be possible to fund my unpaid leave by drawing down from a cash sipp I have, until I start back to work? I work in the NHS and have a small pension which I could draw at 60 but I would like to continue to pay…
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Aegon Retireready
Last year, at my 60th birthday, Aegon moved my pension in the Retireready scheme. I was told I could opt to move it back to the original plan but I didn't fully understand and thought I would leave it as they suggested. I am not contributing into the scheme which has a value today of just over 49k but haven't any plans as…
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Mis Sold Pension?
Back in the early 90's I left a permanent job of 7 years to work as a contractor, the company that took me on has set up a pension scheme for its employee's and the pensions advisers that set that up also advised the guys working as contractors on their pensions and set them up with private pensions. They talked me into…
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Vanguard Target Retirement Fund: A sensible choice for my pension plan?
I have a final salary pension (luckily :beer:) from working in public service in my earlier life for 20+ years that starts when I reach 60. My aim is to retire at 55 (in just under 9 years time) and bridge those five years until I reach 60 with a SIPP - taking the initial lump sum and then, each year for five years,…
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Private Pension that I want to cash
I have a private pension that I took out a few years ago when I was self employed, I have not contributed to this for years...I have had a review from this plan to tell me I have a pot just under £6k...I want to close this as the annual pension is estimated at £182 a year , when I retire in 9yrs time. I am now 56 can I…
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wife's pension wording mystery
Hello everyone. I wonder if you can give me some advice on my wife's company pension which she will be taking early, with 20%reduction, next month. Her date of leaving her job was 7/4/2009 and the paperwork at the time showed the GMP plus excess pension at that date. The GMP on her recent statement was revalued correctly…
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Is a Pension Worth Having?
Ok so when I say a pension I mean a recognised fund. The alternative being any/every other investment type outside of a ‘pension’ envelope. So is there any real advantage in tying your investment up inside a very, very regulated scheme for which you will never have free access..? Official MoneySavingExpert Insert: Great…
