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Going Limited-Pension advantages?
Hi all, On the advice of my accountant i'm going to become a Limited company and its got me to thinking "What are the perks of doing this regarding pension saving"? I know I can pay myself dividends but i don't know much else. My situation is i'm 51, and i'm looking to retire somewhere between 57 and 60 so i'm banging…
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How does the growth of this old pension product compare with newer products?
Hi, I have 5 old Royal London Pension plans which I stopped paying in to many years ago and they have been closed to any further payments. They are all in the Royal London Personal Pension Plan and 3 are with Protected Rights (not sure what this means?). There are 5 policies due to earlier transfer and related…
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Does HMRC payment go into cash part of SIPP?
Am I right in thinking that the 20% tax relief added to your SIPP will go into the cash bit of the SIPP to invest as you wish whether or not you have already invested your initial contribution?
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explanation
I received this option to take retirement early from Aviva I am employed male 58 and to be honest could do with a cash injection. Assuming retirement on 11 nov 2017 full pension £174.72 p/a yearly increase 5% guarantee 5 year spouse £87.48 No tax free sum option two £2,667.51 tax free lump £113.16 p/a yearly 5% increase…
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What to do with US defined contribution retirement account?
Having recently retired/stopped working at age 60, I'm now stepping back and reviewing my finances and planning for the next 20 years. I have ca. $97k in TIAA-CREF, a US defined contribution scheme, from years I worked in the US. It is invested quite broadly across various (mostly US, with some global) bond and equity…
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employed nanny seeking help
Hello fellow money savers! I am trying to set up a pension but can't get my head around what I need to do. Basically, I work for 3 different families, who are happy to contribute towards a pension for me. So I need a pension that multiple people can pay into, and also I can add new people in to aswell. As I usually start…
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Baillie Gifford Managed v VLS80 etc
I see that over the last 5 to 10 years these 3 funds have very similar performance: HSBC Global Strategy Dynamic Vanguard Lifestrategy 80 Baillie Gifford Managed The Baillie Gifford seems to be rarely mentioned on MSE, is this due to its higher OCF of 0.45% compared to the other two in the 0.21% to 0.22% region?
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Advice Please
My son has recently started work 6 months ago in a financial advisors. He accidentally handed a pension document to the wrong person and despite picking it up quickly, the recipient has made a complaint Big issues?
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New job, no pension?
I recently started a new construction job with a small company, the owner still works and has had the company for about 3 years, there are only 3 of us working through the books (4 incl owner). He often takes on sub contractors for specific jobs etc or hires agency. When I started for him (about a month ago) it was…
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Investments to fund care
Not sure if this is the right board, but here goes - to cut a long story short: Father in care home with dementia. Home costs £900pw. We (me , bother and sister - who has power of attorney) have sold house. Raised £285k. This now has to fund father's care. Are there specialist funds available to handle this type of thing?…
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CPI Forecasts
What do you guys think CPI will be in the coming years? If Labour get in will it go above 5%? Current expectation is for a flat 2% but we are already creeping above 3%, higher than expected.
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40 y/o no pension, go with 1% enrolled pension (Now Pensions bad rep) or ISA, or?
Morning Guys, I need to decide on opting in or out of Now Pensions (who get a terrible rep on here and all of google) for 1% contrib and matched 1% contrib from employer. 40 y/o and no pension at the moment. Attached what the state pension would payout £159 a week, which wouldn't be enough, and even if I did go with Now…
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Deferred State Pension
I deferred my state pension for a couple of years (old style pension), and have been looking at my options recently. I've been told my pension will be increased by10.4% for each year I have deferred or alternatively I can have a lump sum of amount I haven't been paid including interest at bank rate plus 2%. My maths, which…
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Can I use Redundancy Payment to start a new Pension
At the end of March I took a voluntary redundancy package from my long time employer. I had a final salary pension scheme with them and due to a number of reasons I decided to start taking my DB pension immediately (I'm 59). But of course I got hit by tax on the redundancy payment above £30k at 40%. Could I now start a…
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Small Pot Lump sum
Hi Is there a limit of 3 small pot lump sums that you can withdraw? I am currently looking to save £2880 per year for my wife and then withdrawn £3600, but speaking from Pensionwise, there is a limit of 3 small pot lump sums that you can withdraw. Is this right? Would any subsquent withdraws need to be done as a lump sum…
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Are A J Bell and IWeb the same company?
I've been indulging in some paranoia/sensible risk analysis (depending on your viewpoint) and have decided to spread my SIPP across 2 or 3 platforms. I'm aware that the funds are held in trust etc, but I want to guard against the tiny possiblity that there may be a major fraud/hacking/other disaster at the platform level.…
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Belated SERPS pension letter
My husband received a letter advising that an error had occurred following a drawdown of funds in 2004. The insurer's records records had been incorrectly updated to show that all benefits including protected rights had been taken rather than just the drawdown. Upshot is he has an unexpected pension pot of £70,186. We have…
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Will The Lifetime Allowance Be Abolished?
Hi all For planning reasons I have been trying to get to grips with some of the technicalities of the Lifetime Allowance and the charge and thanks to OPs for helping me out....but on wider reading there seems to be a fair amount of noise about the possible abolition of the LA on the grounds that it is almost impossible for…
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Investing a lump sum
At the ripe old age of 56 having stupidly neglected my finances all my life - please don't berate me - I suddenly have 350K to do something sensible with. I have a flat worth 400K with 48K mortgage left and on fixed low rate til Feb 2019. Would first thing to do be to pay off mortgage thus having less outgoings…
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Lifestyle Strategey choices - WTW
I am a deferred member of a pension scheme from the last company I worked for, it's handled by WillisTowersWatson. I have been in ‘Freestyle’ making my own investment decisions whilst working there. I retired a few months ago and I am now drawing from a trivial lump sum and will be drawing another small pension soon. As my…
