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What Pension to choose for later drawdown?
Hello, I am about to open some Pension. But I am confused about the type to choose. My aim is to have a pension to cover say 10 years before State pension. So I will need the drawdown option. Am I right? I have read about pensions and understand that I can open a SIPP or DIY pension to get drawdown. But the problem is they…
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Transferring Final Salary to DC at 42
I have been in final salary pension with current employer for last 12 years and have accumulated pension of 9.5k pa. I also pay any bonuses i get into another pension with same employer valued at 31k. I had a final salary pension with previous employer for about 2 years. Out of curiosity i checked what the tfr value was…
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Guaranteed annuity - sellable?
I have six months to go to my planned retirement date. I have an old with profits retirement plan that has a guaranteed 11+% annuity rate. Is there a market for selling/transferring this for more than the fund value given by the insurance company? If so, what is the process and caveats?
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Aviva mistake
I received a letter this week from Aviva where I have Pension plan. It said "we carry out reviews of all the products we offer. In one such review, we identified a mistake with the value of your plan. We should use the amounts you contribute to your pension to buy units in funds you tell us to. Unfortunately we have not…
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Redundant at 50... retiring early
Hi all. Appreciate I may not be the typical individual looking for retirement advice on here... :Full disclosure: 50 year old single male no partner/ dependents. Own a fully renovated house (circa 300k) with mortgage paid off. No outstanding debts/ loans 175K cash in savings sitting in low interest instant access savings…
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Can't transfer
For 3 months now I have been trying to transfer 2 small pensions with Reassure (formally barclays) into NEST. Numerous times i have sent each scheme the other companies forms but i am in a rediculus situation where nest won't proceed until they get their completed forms back from reassure FIRST & reassure wont proceed…
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What’s your Retirement Asset Allocation?
If you’re retired, or close to being, what’s your asset and allocation and why? When you’re working it’s fine to be 80% or so invested in equities (as I was) but once the paycheques stop everything changes. So it would be fascinating to learn how people approach this. I hope you’ll participate in this thread/survey so we…
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Do I have pension funds with Barclays Fin Servs?
I worked for Barclays Financial Services in London at the St Pauls Churchyard Offices and later in East Croydon from 1990 to 1991. Can anyone guide me to where can I make enquiries as to any pension the funds that may be due to me? Many thanks in advance. Peter Francon.
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State pension forecast confusion
My SPF is £159.70 a week, but my NI contributions only show 32 full years. There is a COPE estimate of £14.90. Aren’t 35 years needed for a full £159.70 estimate ? If I work another 3 years what effect will that have if any ? How does the COPE amount affect the estimate ? Thanks.
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Tax on deferred pensions
I'm working part time and earning £15k, I have deferred taking my state pension until now age 68. I think that was a mistake in hindsight. My regular pension has now started at about £6000 a year. I now have the option of taking my deferred sum as a lumpsum £28k or £56 a week. I wanted and expected to take the lump sum but…
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Why can't I increase my state pension?
I have just rechecked my state pension forecast online and I have 45 years of full contributions (up till last April). For much of this time I have been contracted out. My state pension forecast for 2019 is £131.41. My NI record shows an unbroken record since age 17. It says this is the amount I can get if I contribute to…
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Financial advisors and pensions
Hi all, I hope to move a very old, not well performing pension policy to another, better performing one. It seems that to pick a better policy I must go through a pensions advisor and pay them lots of money even if the policies they recommend are not very good products. And I have to pay for this advice even if it is not…
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My State Pension Record Anomalies..check yours/advice
Just viewed my state pension forcast on line. 1 They have me down for no Contributions in 20012/13..easy to ammend ( we were TUPE'd to another Trust so I guess this resulted in some error ) , I still have my P60 so will write and get that ammended 2 They say I have made 29 yrs contributions ( will be 30 when they correct…
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Pension questions
I'm slowly working through the maze of pensions planning but can't find the answer to this question at the moment- could anyone help please? I understand that if you opt to take money from your pension at 55 e.g. 25% lump sum, you can then only put in £10,000 per year thereafter. But if you have several pension pots is it…
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Is this pension recycling?
I would prefer not to retire at 65 next year, but instead continue working another year, and still pay into my current employer's pension scheme. I'm I'm not keen on deferring my state pension for that year, because the break-even period for making up that lost year's pension payments is a long time. Similarly for a DB…
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Would Aviva be a good company for a basic pension?
Hi, regarding the previous post below, my brother has decided to go with salary sacrifice and start a pension.I know that you cannot give investment advice but would just appreciate your view. He wants to open a pension plan that he can just put the money in and not worry about. There are lots of people offering this but…
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NHS pension - do widowers really lose out
My wife is due to retire from the NHS after 39 years of service. I was reading through the T&Cs of her pension and I came across the following....Can this be true! Widows are eligible for half their partners full pension but Widowers are only due half their partners pension based on service after 1988. Does my wife's…
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Can I pay pension contributions from my limited company into an existing pension plan
I'm looking to make a lump sum pension contribution from my limited company, but am wondering if I can pay it directly into one of my existing plans from a previous (or current) employer (as an AVC?)? Or do I need to set up a new pension plan specific to my limited company? My existing plans are either stakeholder plans (I…
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Removal of 40% Tax relief
Hi All, Is anyone considering paying in larger sums than normal into their pension to make the most of 40% tax relief, assuming that it may be reduced / abolished in the next budget? Thanks!
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NHS pension & retiring at 53
I have worked as a Nurse in the NHS for 22 years. I am considering taking early retirement at 53 because of work related stress, work load, conditions, bullying, the list goes on. What I would like to know is can I do this and then find another job elsewhere and how many hours can I work. I don't want to stop work I just…
