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Deferred pension value question
I have a differed pension which in 2003 was 14892 pa. The pension certificate says this pensions gmp of £ 902 will rise by 4.5% every September and the remainder will rise annually by RPI or 5% which ever is the lower. I have just called for an up to date figure and have been advised the sum has increased by 3.6% in the…
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deferring pension
hello, I am 65 next july ,but not sure what is the best option regarding my pension,at the moment I earn £300 per week working as a care assistant and can continue after I am 65,but I have only paid N.I for around 10 years of my working life (Lived abroad) and not sure about deferring my pension or taking it (from a tax…
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Local Government pension (annuity)
I have a historic LG pension, and according to the latest statement, I can start drawing it from July next year, and take a lump sum as well. I cannot afford to retire just yet (for the foseeable future), so if I do not take the pension or the lump sum, would they both keep accumulating. Would I aslo be best off leaving…
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Early pension
Hi I worked for a company for about 4 years paying in a pension I’ve since left that company and I’m now in another pension I paid in about 5k into the first plane, Can I take this and cancel the plan? Thanks
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Pensioners are ill-advised 53pc of the time
Savers trying to swap their "final salary" pensions for cash face a crackdown from the City watchdog following a damning report into the quality of financial advice they are receiving. Financial advice is required by law when savers transfer final salary benefits worth £30,000 or more, but an investigation by the Financial…
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Start a pension for kids
Hi all, I want to start a SIPP for my 6 year old son, however I can only stretch to £50 a month. Any recommendations please ??
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SIPP Set up
Can I set up my own SIPP rather than go through a provider to avoid the fees and run it myself?
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starting amount - new pension
Hello, I have a new state pension statement. I cannot see the words "starting amount" on it. If I do not pay any more contributions, is the "starting amount" the same thing as "Estimate based on your NI record up to 5 April 2016"? Thank you. (first post - I hope this is in the right place)
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At what point does sticking it all under the mattress seem viable?
I appreciate from some of the more experienced regulars on here that 'steady as she goes' is generally a good watchword when it comes to long term investments. Buy, hold, take the downs with the ups, and overall you can get a good return over 10+ years. That said, I am seeing an increasing amount of 'expert' commentary…
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Stakeholder Pension vs ISA savings
Hi. I'm 62 with a stakeholder pension that matures at 65. Would I be better putting any savings into the pension and receiving 20% tax relief rather than locking it in an ISA for a measly less than 2% interest? I know the ISA is tax free but is the pension? Thanks OldGranny
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Yet more DB transfer questions
Hi all, Like many others, I have decided to transfer my pension out of a deferred DB scheme. I have met a couple of FA’s and have spent many hours researching funds and forums to understand my options and I now have a feel for where I would like to invest. During an initial meeting with one FA, he proposed using a DFM…
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Gifts - 7 year rule PET
If a Gift is made to somebody other than to a spouse, and the Gift comes out of Assets which are greater than the NRB,and the Gift maker dies within 7 years of the Gift being made...who pays IHT?...is it the person receiving the Gift or is it from the deceased estate?
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Hurrah! Pensions going up by 3%
Inflation is 3% so pensions are going up by 3% isn't that nice folks Seriously inflation at 3% - whats all the fuss about? It's only 1% above the BoE's artificial threshold an I say 'so what!'. Some of us remember inflation running at 18% a few years ago - now that was a tad of a worry, but we all got through it. Then of…
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Pension
Hi, in 2010 my employer sent me to see their financial adviser to discuss my company pension. At the time he also tried to get me to take out life insurance, which I didn't need as I have no dependents, however I did want critical illness cover which I took out through BUPA. I was made redundant and my pension was froze.…
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Transfer old pensions to current one?
Hi, Looking for advise. I have 5 pensions of different amounts (a few thousand to over 30k) from previous jobs. What things should I look out for to help me decide if I should leave them were they are or transfer them into my current pension. I've never used a financial advisor, was thinking of finding one for some advise.…
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Take a career break / retiring now?
I’m sure most of us have pondered over this, but would it be possible to retire early if you had the funds to support yourself until state pension age, then claim a state pension? Silly question, but can one even be entitled to a state pension after 20+ years out of a job? In my situation, I have been working full time for…
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What effect if any would inflation have to date ?
Hi Could anyone answer this about a final salary scheme please. I left the job 10 years ago and my policy says I will receive £14982 pa plus inflationary rise or maximum of 5% whichever is the lower when I am 58. Does anyone know what the inflationary rise over that 10 yrs would be and how much it would be worth now ? Many…
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State pension forecast
Forecast £159.55 a week 32 years of full contributions, 16 years to contribute, 3 years when you did not contribute enough. Estimate based on NI record up to April 2016 £145.88 a week You can make up the shortfall Pay a voluntary contribution of £733.20 by 5 April 2023. This shortfall may increase after 5 April 2019. As…
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DB Cash Value Transfer to a DC Pension Pot
I am in the process of transferring the cash value of my Deferred DB pension into my current occupational DC pension. The transfer value is over £30,000 and I have been told I must have confirmation that appropriate independent advice has been obtained from an authorised independent adviser or an appointed representative.…
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National Insurance / Pension Credit Question
I've always wanted to ensure that I had accumulated enough National Insurance contributions to qualify for a full state pension, and courtesy of the online tool I can see that I'm finally getting there. I went to University in Scotland, where the courses are longer than in England, and didn't have full time work either…
