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Friend has 2 'workplace pensions'???
Hi all. Very briefly, a friend mentioned to me today that he has 'two workplace pensions'. When I asked him what he meant, he said "I have the company one that I signed up to when I joined up and the other one which is a workplace pension'. I asked what he meant as the one he signed up to when he joined the company was his…
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Am I on track?
Hi all I'm just looking for some advice as to whether I am on track or still quite a way off in terms of my pension. I'm 27 and the only pension I have is a stakeholder pension (BC&E / people's pension). It's currently worth 8.5k. Employer pays in max of 6% and I pay about £150 a month by direct debit from my pay. It says…
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Question
I have been retired early due to ill health and are due a lump sum and a pension just over £4000 a year. If I take the lump sum it will clear some debts and decorate our home as we have not long moved in. We will then be able to live on the rest for 1yr.We are currently in receipt of Universal Credit and so would not be…
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Redundacy /Pension
Hi Guys I wonder if any one has any ideas re the above. Basically i have just heard that work may offer voulantry Redundancy, i am 55 in july would i be right in thinking that my pension would be made up to a full pension if i took V R as well. i have 30 yrs service at work and my pension is local government. thanks j:D
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Changing a will
I'm probably in the wrong dept, but must admit this forum has to be the most difficult and complicated one I've ever come across - not easy to navigate. I would like to know what is the cheapest option to change a will ? the solicitor that drew up my original will wants £120. My circumstances have changed dramatically now…
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Yikes! I'm making the call tomorrow
I am 55 in January, and I believe I will have access to 25% of my pension tax free then. A little background. I have been a single mum to two wonderful boys since 1996. The boys are now grown up and following good careers, we managed OK over the years with little to no input from their dad, but it was hard managing a very…
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£40,000 Pension Allowance?
With what I have already contributed to the LGPS and my AVC this year and with me putting some of my redundancy lump sum into a SIP, I am going to exceed my £40,000 allowance. The HL calculator says the gross amount I can contribute this tax year is around £140K presumably using allowance from previous years. HL say that…
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Pension transfer
If you have 2 dc pensions with 2 different companies and have taken your 25% tax free lump sum from 1 of them, can you transfer 1 into the other so you only have 1 dc fund?
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Taking LGPS early
I am taking voluntary early retirement on 31.12.17 and my normal retirement date had I continued working would be February 2026 so I am retiring just over 8 years early at age 57. I am a member of the LGPS and have a combination of final salary/care benefits. I have worked part time so the pension is not huge but as it…
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Pru issue/question
Ill keep this short as poss. Ive decided to take 25% tax free from my Pru personal pension when im 55 in a few weeks. Approx 3 months ago i rang them to see how id set the ball in motion so to speak. They then told me what my 25% would be and to phone them a month before my birthday which i did. I was told i would be sent…
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NHS Pension and MPAA
Hi, I am running rings around myself so I thought I would ask on here so I can hopefully get some clarity. I am currently in the 1995 section of the NHS pension and still contributing. I have also recently discovered a private pension pot of £19k that I had forgotten about (how I did this is beyond me!). I would like to…
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Avc or personal pension
Hi I’m trying to decide whether I’m better off continuing to pay into a personal pension or making AVCs into my workplace scheme. I’m part of a DB scheme and can take my AVC fund tax free after I have taken my normal 3/80th lump sum (as long as it doesn’t exceed 25% of the combined funds). The trouble is the investment…
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My pension, through L&G......
....is invested in JPM Life Diversified Equity Fund. Any opinions on this fund overall? Is that a stupid question? Additional info if needed:- I am 51, self employed, paying £200/month and my pot is £142,000 ish.
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Anyone with a good working knowledge of new CARE schemes and members' death benefits?
I would be grateful for your thoughts. My partner has deferred membership in the NHS FS DB 1995 scheme and was moved to the 2015 CARE scheme in April 2015. Prior to this, we only had his life covered to the value of £40k of insurance, lasting up to the end of our mortgage term. This was because the spouse's pension in the…
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Can I reduce charges on pension transfer
I am considering the transfer of my Final Salary pension to take advantage of the lump sum and tax advantages of managing my own pension pot. I am however struggling to accept the fee being requested by IFA's to provide advice as mandatory government regulations require. This is in cases amounting to initial charges over…
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Divorce settlement pension funds
Hi all, Sorry if this query has been raised before and I've missed it on the search. My partner has a sum of around £77,000 due as part of her divorce settlement and wants to know how best to invest it/what to do with it. She's not able to transfer it into her NHS pension or re-invest it with Aviva. Any advice will be…
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Final Salary Scheme
Hello, I have a DB pension which has been deferred. I am waiting to receive a CETV for this as well forecasts of what it would be worth as a pension if taken at ages 55 and 60 with and without lump sums. I'm thinking that I would like to transfer my DB pension so that I can use the lump sum to pay off the mortgage and draw…
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Transfering a DB pot of less than £30K, is it possible without an IFA and a TVAS?
I know the rules state that a DB pension can be transferred into a SIPP ( for example) if its CETV value is less than £30,000. but I can't find any pension scheme or SIPP provider that will accept the transfer without me having advice from an ISA, who understandably would want to undertake a TVAS calculation to support any…
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MPs to debate women affected by state pension age increases
On Wednesday 29 November, MPs will debate the subject of women affected by state pension age increases. The motion to be debated is: That this House calls on the Government to improve transitional arrangements for women born on or after 6 April 1951 who have been adversely affected by the acceleration of the increase to…
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Pensions and debt recovery
I intend to carry on working for the forseeable future. But If I claim my two small private pensions will any old debtors automatically find out and grab any lump sums that might be coming?