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Another sanity check
Hello, New to this. Have benefited a huge amount from reading these posts. Sanity check appreciated as to whether being too optimistic about retiring comfortably in near future - 56 with DB pension £18500 at 60 (limited indexation) plus £300k in DC pot (considering annuity at 60 as not a confident investor). Will get full…
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Can I transfer old pension to new nest pension?
I've trawled through some of the forum and got more confused, so please forgive me if the answers already on here somewhere!😁 I'm 51 and started a private pension with Pearl about 30yrs ago. After only a year I changed jobs, couldn't afford to keep it, so cancelled it and forgot about it. However, a couple of years ago…
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Pension v property
I've just enrolled in LGPS. Everyone keeps telling me how good it is. I mentioned in a previous post about using calculators as a rough guide to estimating retirement income and I did that today using my new LGPS contributions and again was disappointed! Seems I would get around £550 a month even though to me the monthly…
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Aviva Stakeholder via Cavendish-Ltd Company
Hello Setting up a stakeholder pension for my husband since leaving his local council pension. He now has a Ltd Company although he is the only employee and he is the director. Would it be better to set up the regular payments from our current account or where it says employer payments and put in company details etc?
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Pension for 30 year old
Hi all, A bit of background: - A man who just turned 30 - Pension pot of c. £85k - Current pay c. £70k - I contribute 8% and employer puts in 12% Is what I am putting away enough or too much (given all the press, at my age I don't think I can put in too much?)? When I put my salary into an online calculated (assuming a 3%…
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Pension % contibution, and combining pensions
Hey, I'm 26 and been paying into my pension for about 4 and a half years. Martin Lewis says: "Take the age you start your pension and halve it. Put this % of your pre-tax salary aside each year until you retire." Based on this, I was about 22, so I should be putting in 11% for the rest of my life. Is that correct? At my…
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Pension Planning or Not???
Hi all. New to this. Seen to be plenty of savvy savers out there so hope you can advise me. :T If you have say £100 a week to put away what would be the best thing to do with it to get a safe and decent return on after say 10 years? Is it worth putting into state pension contributions or something else? Thanks and look…
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sanity check and ideas about one's retirement planning
Here I will describe the situation I am asking about : -a man, a few months from his 55th birthday - member of TPS , the older type with PA 60 and 3 best years in the last 10 used to calculate pension - according to TPS website has a pension of 18 k payable at 60 accrued with a LS of about 50 k - The Number is about 19 k…
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mortgage v pension v salary
hi im 46, 2 kids 12 and 10 from previous marriage. My partner of 4 years is 41 and is selling her house, releasing approx £150k of equity. The plan was to pay off the mortgage on my house so we are mortgage free and with a split of 65:35 in my favour I earn this year £39k plus 4k bonus, my pension fund at the moment is…
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Silly mistake triggering MPAA but what is allowance charge?
Hello I posted in the Summer and to cut a long story short I realise I have stupidly triggered the Money Purchase Annual Allowance so I can now only invest £4,000 per annum into my pension. Okay I made a stupid mistake but it is done and now I have to decide what best to do. I have read that I can pay an "annual allowance…
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CSP - no freedom at all
Newby here, I’ve been lurking and having a good read. Nice to “meet” folks. I’ve been working hard to start my own business but having to jump through myriad bureaucratic hoops and also contend with “its not what you know...”.. Anyway, I’ve been looking into rationalising my pension arrangements and with 25 yrs of CSP…
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Added years in the LGPS
Hi all This quite a LGPS specific question about an Added years Contract. As people who know it understand, it is now quite a complex scheme for people who have been in it for some time, and therefore are accumulating membership under different terms, some Final Salary, some CARE (because of the reforms over the years). My…
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Three small old pension pots
I have three old pension pots with three different providers non of which have more than a couple of hundred quid in them. I am 61 and in receipt of a reasonable pension and no longer employed so I’m not currently paying into one. My question is what should (or can) I do with the three small pots?
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Teachers Pension Scheme query
Hi I have a small TPS pension which becomes payable when I'm 60 (more than a decade away). I no longer contribute to TPS, but work and contribute to USS instead. My question is - will the TPS pension be withheld until I am 67 and stop work, or while it be payable while I'm still working?
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Civil Service Pension, classic/alpha ill-health retirement
Hello everyone I've just been retired under ill-health for acute anxiety. My brain doesn't work how it used to, and I'm struggling to understand how they've calculated my pension, but I think they have it wrong. Being a financially savvy person, I have been purchasing added years in the old classic scheme since 2006, and…
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More SIPP questions.
My wife has just turned 56, she wants to finish working at 58, she can get her LGPS pension from age 60. She earns circa £12500, pays into the LGPS and an AVC. For simplicity can she: A) Pay in £8000, plus £2000 tax back, into a SIPP for tax years 2017/18 and 2018/19, then £5000 tax year 2019/20 (November retirement). Then…
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SIPP contribution, sanity check please.
Mrs Soap has decided to retire from her part time job next year, exact timing to be determined, but between April and August. She has enough savings to open a SIPP for 17/18 tax year and the three previous tax years under the carry forward rules. It's a no brainer, I think. She can put around GBP 40k in her SIPP and the…
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Paying into a Pension whilst on ESA
Can I pay into one? What are the advantages over saving money? CB
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Pension Help
My pension company are denying they have not got any details about me and whats worse I have no policy number to give them also the bank from which they were paid we no longer use now and they can only go back 6 years and it was longer than that since I paid in as having to finish work due to ill health. Is there anyone…
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Life Time Allowance >>> Delay crystallisation until April 2018 or later?
Does the once per year indexation increase in LTA create a time of year judgment to be made for the cystallisation of larger funds? It seems now that I would avoid crystallising my funds until the new tax year. For cash funds a longer deferral may be appropriate where the interest received on the funds is lower than the…
