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Retired non earner £3600 annual SIPP
Looking to invest about £3-4k p.a and if I understand the SIPP rules correctly I can invest £2880p.a in a SIPP to which taxman will add £720 to make a total amount to invest of £3600 and I can then draw out 25% each year so £900 tax free This sounds like an excellent investment to make each tax year so that over 5 to 10…
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Managing own pension
Hi I'm retired at 59 with a draw down pension pot of £140K and a future NHS pension at 60. My draw down is managed by a IFA cost of 1.2% with charges of 0 .5% from the company running the platform for the investments. Is it possible to take my pension pot and not have to invest it just have it held without risk somewhere?…
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santander pension
The wife has a small pension £115 a year. Just had a letter from santander offering a one off cash lump sum of £3.700 , tax would be payable on this, also says she could exercise this optionin the future, she is 57. First thoughts are its a good idea. Any thoughts ?
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How to get my hands on my pension pot tax free?
Good morning. Please forgive me as I know very little on how pensions work. I'm aged 50 now and wish to retire at 60. I have a pension pot of 90k which may grow over time but I wish to use this money to invest elsewhere to give a greater return. I understand that 25% would be tax free but wondering if there's any method in…
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Pension of a deceased step father...
Hi! I’m hopeful someone will be able to offer even some basic advice to my following quandary... A Man & B Woman were married for 18 years. A Man & B Woman split in 2011. A & B got officially divorced Feb/March 17’ without a ‘Clean Break’ agreement. B Woman remains single to this day. A remarries C Woman 21st April 17’ A…
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Lump sum investment ?
Male early 50's with lump sum circa 50k currently held as cash. I am maxed out with ISAs etc already have a DB pension,essentially i am seeking the holy grail of a return with low risk as its sat doing nothing at the moment. I'm also conscious that low risk = low returns so i am wary of platform/fund charges,,any ideas or…
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State Pension commenced in 2017/18 - incorrect rate being paid!
Is anyone else having difficulty getting DWP to pay the correct rate for a pension claimed this year? I qualified for my pension at 65 and I have credits for 40 years of full NI Contribution years, including a new system post-baseline valuable credit for 2016/17. Years of being contracted-out destroy my new-system…
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Guerney private pension
I have a private pension in Guernsey with a relatively small amount in it , under the rules of the scheme I can take this as a lump sum at 50 , I just want some simple advice on what I can and cannot do as I am living in the UK. cheers for nay help anyone can provide
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Age Partnership Equity Release
Hi all, not sure if posting in the correct forum but giving it a go. Anyway I was wondering if anyone could help here first before I go submitting my details and being bombarded with calls etc. Seen the advert for Age Partnership Equity Release and wondered if any other posters here have dealt with them and did they have…
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SIPPS anual management charges for funds
One of the companies I'm considering moving a lump some to charges annual fund management charges of 0.45% between 0-250k invested. Is this a straight charge on your total money invested in funds so £450 on 100K or 0.45% of any positive return received. I'm new to SIPPS but £450 for management of an execution only setup…
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Leaving LGPS
Hi advice please I'm 64, retired from NHS March 2016 and employed part time, firstly by the NHS and paid into NEST until March 2017 and then for the local council where I was enrolled in the LGPS. I was made redundant in August 2017, no redundancy payment as employed less than 2 years. I have now received information from…
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Teacher pension - where to go for advice
I'm a teacher with 21 yrs & 52 days service so far. I'm 48 (49 in February) and started teaching in 1996 which means my teacher pension is in 2 parts. The first portion is part of the final salary scheme which I think means I can retire at 60 but the second part (from 2015) means I have to work until I'm 67? There is no…
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Pension lump sum
My mum has a small local authority pension from which she can take a 25% lump sum now with a reduced annual amount later, or leave the full amount until 2022, when she reaches state retirement age. Can she opt to leave the 25% and withdraw it next year and gain potential increases in CPI?. The documents only give two…
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Pension entitlement has dropped
I'm planning my retirement and requested an illustration in February 2017 with a view to retiring on 30 June. I didn't retire then, so requested another illustration in September with a view to retiring on 31 December. In that period my entitlement has dropped. When I queried why, I was told it was because of a change in…
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Calculating Pension Contribution
[FONT=Verdana, sans-serif]I would like to make a further pension contribution this year, in order to avoid paying any tax at 40%. [/FONT] [FONT=Verdana, sans-serif]I have calculated that I will pay 40% tax on £2,500 of my salary this tax year .[/FONT] [FONT=Verdana, sans-serif]In addition I expect £750 of savings interest…
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NHS pension and early retirement
Hi I am 25 and I am looking into ways to retire early as I will currently be working to probably 70 with state pension questionable and NHS pension tied to the same age. So I need to either take actuarial reduction or bridge the gap. I have started a PP with £150 pm (currently £5000) and S&S ISA £500 pm (currently £10500)…
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pension on death
Just found a pension letter for an estate I am helping sort out and it states that if you die before you use the fund we 'may' pay out the pension value or the contributions to date. The pension holder was 59 at death and hadn't gone into payment though she could have done at 55 it seems. The pot is worth £9800. Should her…
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Is there a transfer cost
Is there a charge to transfer a defered DB pension into another employers DC pension?
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State Pension. Non existent in the near future?
A friend of mine suggested that in twenty to thirty years time there might not be any state pension due to not enough money. Their suggestion was that we'd either work till we drop or it would be back to the days of the workhouse! Does this sound like an OTT statement to you or do you see that they have a valid point?
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Pension Transfer Scottish Widows - NEST
I contacted NEST in July to seek advice in how to transfer my old pension from Scottish Widows. Despite being supplied with the necessary information several times, NEST still claim to not to have the necessary paperwork (specifically "part 2"). Scottish Widows claim otherwise and given how helpful they have been - I am…
