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Terminally ill with final salary pension
My brother in law, age 58, is terminally ill with life expectancy of just a few weeks. One of his pensions is a defined benefit pension. Spouse benefits (for my sister) on death before retirement would be 50% of members pension. Back in 2014 he got a statement of entitlement, which gave the transfer Value of the pension at…
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Ufpls??
Not quite got this as my question will probably demonstrate! Is UFPLS simply a way of accessing a SIPP or are they two completely different things? Thanks.
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size of final pension pot
I'm not sure what my exact question is to be honest, but I was reviewing my pension and wondered if my final aim of pension pot was realistic and actually the right way to look at things. I earn about £55k a year. I am 42. My pension contributions are to my workplace pension and in total I pay in £800 per month. My pot…
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Why does this fund behave oddly?
Ref - Henderson UK property pension fund. A work colleague has the fund in his portfolio & every now and then it seems to jump approx 5% only to fall back down again. This used to spike then drop the following day but recently a couple of these spikes have held for a while before falling back again. Qu 1. Does anyone know…
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Section 32 buyout options - 5 week deadline
Just had another letter from Aviva about this - I wouldn't say they are inept but... There is a GMP at 65 (not state pension age) and Aviva have agreed (under duress) that benefits should be paid from 60 - increasing year by year to the GMP at 65. In January I received a letter saying I had 3 options. 1. Lump sum to cover…
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Transfer Out - Does this calculation sound right
I have read many of the threads on this forum regarding transferring out and others advocating remaining in a deferred DB scheme. My situation is at the age of 39 my DB scheme has closed and been given a transfer value of £285000, the pack I have been sent gives some examples of staying as a deferred pensioner in the new…
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Advice sought for student daughter
My 34 year old daughter worked for a university for a couple of years and contributed to their pension scheme. She left to start a 3 year PhD in September and is now a full time student. (She has no other pension savings as she has never earned enough before to pay into a pension). She has received a letter fro her former…
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Graduated Pension
I'm going back many years with this one, right back to when I first began working around 72. When I received my pay packet I was deducted Graduated Pension and now I wonder where that contribution actually went? is it included with your Gov pension or included with your private one. Jeff.
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Frivolous, ageing parent - financial advice
Hi, hoping I can get some advice. My mum is around 10 years away from retirement and has no formal plans, savings or substantial pension. What she does have is about 4 years of a pension, a pot of money from downsizing mortgage free (it’s prob less than £50k) and no job atm due to relocation. From her perspective she’s…
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Can I really get the full State Pension, despite having been Contracted Out?
As a group of friends in their 50s, this week we all got together to look at State Pension Forecasts. We have all received State Pension Forecasts recently. One of our group, with only 31 years of Full NI contributions is being forecasted almost the whole £159. Others within our group with more than 36 full years are being…
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LISA as additional retirement fund
Hi all. Can I just run something by the collective wisdom of MSE? I’m 36, earning £30k pensionable salary and approx £3k non pensionable earnings. This will increase to around £33k plus £3k over the next 3 years. I am lucky enough to be a member of USS DB scheme. I pay 8% normal contributions plus the 1% matched D.C. and…
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Irresponsible scare-mongering by journalists
How does this kind of article help people prepare for their retirement? The basic message is that private pensions are a con so don't bother https://www.theguardian.com/money/blog/2017/nov/11/nationwide-pension-boosted-contributions-staff-engaged
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Final salary pensions - ie nhs
OK. Both person A and person B have to pay set % into final salary pension. Person A works 40 hours a week for 35 years full time (earning £40K a year, £1K a year of which is pension based on 5% contribs) , then last 5 years of their working life works part-time - 8 hours (£8K per year). Is their pension then just based on…
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NHS Pensions - if you leave?
I know there are two schemes now and generally you're better off staying on original one. What happens if you leave NHS employment and rejoin later? Are you then enrolled on the the newer scheme or do you have protected right to rejoin old one? Is there a huge difference? Are they both final salary now? This is one bit I…
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Do they need 'advice'?
I am trying to assist an individual who has been sent letters for an early retirement offer. The company the pension holder used to work for (company A) wrote explaining the offers available. One of which was to take the full amount of money. The pension is very small, and has not been paid into for many years (approx…
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Advantages of Transferring from a DB Scheme.
I am 55, working and no plans to retire soon. I have a frozen DB scheme pension which currently has a transfer value of 300K. If I let it run to age 60 I will get a £9K a year pension for life with some inflation protection. is there anything to be gained from transferring out of the DB scheme? Out of 30 work colleagues…
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Pensions lost? Help for over 60 in short term jobs
Hi there I wondered if I could ask the MSE experts for some of your great advice. I have a relative in their 60s who believes they have no pension provision (other than state). I had previously understood this was because they hadn’t paid into a pension at any point. In conversation they mentioned they had always been in…
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Transfer to SIPP sanity check, VLS80 etc
Evening chaps. After many years of procrastination I am about to pull the trigger on moving my pension away from Reassure and over to a SIPP. I have, I think, done my due dil and chosen the best platform for me which has the lowest fees for what I want to do. I have read about many different funds and written the odd bit…
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MAR's and pension
hi my work is offering a MAR (mutually agreed resignation scheme) at moment where if accepted could get a severance pay of 1 years salary. I am also at the age where I could retire and draw down my pension and lump sum. my query is does anyone know if I was to take the MAR option would it affect my pension and lump sum?…
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Will my pension be enough???
Hi,. Obviously this question is different with each person. But say u earnt £20k per year, FS/CARE pension 1/49. Say u work for 49 years, your pension is 100% of your yearly salary, (obviously inflation it will be more) Will this £20k be enough(even with today standard) And if this is not enough, what kind of…
