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PCSPS. Frozen Classic Benefits.
I’m 51 and plan to retire at 60. I have 27 odd years frozen in the old Civil Service classic pension and moved into the new CARE scheme in 2015, having recently gone part time I understand fully that my new pension will be calculated when I leave on my career average earnings since 2015 (I think!). On what figure will my…
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Potential Inflexibility of VLS60 et al during drawdown?
I anticipate starting to draw down from my SIPP in a couple of years time. I've come across the suggestion that when the market is falling dramatically, one should take drawdown funds from bonds rather than selling equities. 1. Is this a sensible approach? 2. How do you do it if your portfolio is all in Vanguard…
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SIPP for the risk adverse
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Retirement planning advice
Hi all im after some help/advice/thoughts on my situation and my thoughts on retirement. Im 52 years old 53 in May 2018 and am asking if you think i could retire at 56. i have worked for Royal Mail for 31 years and have a 21 year final salary pension and 10 year defined benefit pension that is going to change to whatever…
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Winterthur and friendslife pension
Can we claim back money paid into a pension as an investment in the late 80’s which hasn’t been withdrawn, the pension scheme used was winterthur but hasn’t changed names and businesses numerous times. And can a widow claim for the money?
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Do pension carry ppi
2 part question. First part of the question is, do pensions have a ppi or anything simalar? Second part is can a widow claim for the pension or the money which was used as a deposit?
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Clerical Medical section 32 Pension policy
Do YOU have a Clerical Medical section 32 Buyout Pension Policy? Did they, originally, promise you that they would start paying you your pension at an age well before age 65? Have they, in recent years, told you that they are NOT going to pay you until you reach age 65? If you have answered “Yes” to these questions I would…
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How to: Transfer three pensions into a fourth
Hi, I'm 34 and currently have 5 pensions. 3 of them are very small, sub £2k. The 4th is very large, £70k +. I'd like to transfer the 3 small ones into the 4th one. The 5th one is with my new job and has only started recently. I'd like to keep this one 'as-is', and run it alongside my existing 4th pension. I had a meeting…
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Trust accounting (self assessment) - same as UK interest?
Hi all - long story short, wife gave birth, lost her job and now looking at ways to save money. This includes, unfortunately for us, letting go of her accountant. In 2016-17 part of her income was in the 40% bracket. She received GBP 8k from a trust and taxes were paid at the trust level (20% tax). I called the HMRC…
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Tax relief on contributions
Hi, I understand you can pay 100% of salary (£19,300) into a pension, but do you get tax relief on the whole amount or just on the amount tax is due? i.e. £19,300 - £11,500 personal allowance. Thanks
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Salary Sacrifice and NI benefit?
I have a pension which currently is setup to have employer only contributions. I opted out of doing salary sacrifice because I figured I would receive higher net income. If I currently pay 150 in NI contributions a month but were to salary sacrifice 10% of my income each month say £250. (Doesn't have to be 10%. Just a…
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Annual return and cash sum
Currently coming up to the age of 65 and have a number of defined benefit pensions and state pension that will take me into higher tax range, have been offered part lump sums which would of course reduce the annual pension sum but what is the optimum reduction to take a £10,000 reduction being a £160,000 sum and a £1,600…
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pension that i have not paid into for a long time should I move it to new scheme?
I don't know that much about pensions and have been pretty careless about having one mainly due to not really having the money to spare with child maintenance payments etc.. I am approaching 40 and really need to start thinking about this stuff. Anyway i recently started with a new employer and got automatically enrolled…
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L&G problems: AVC Tax relief added or not!?
Afternoon folks, Hoping you can help me out with my pension situation. I’m 23, and have been saving into my workplace pension. Pensions: Workplace pension 1: Pot: £13k – I pay 10% of my salary which my employer matches. My salary is £22k but I’m on course to get £30k+ this year. Workplace pension 2 which is my Additional…
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Ill healtretirement
i was automatically enrolled in my workplace pesion about 16 months ago. since then i unfortunately had a really bad bout ofd ill health which has left me visually impaired. I have tried to stay in work but its now looking like i will be medically retired. my pension provider has great benifets for this after two years of…
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Fund Switch
Merry Christmas guys, I am just looking for a little feedback or even suggestions if anyone is willing. I am currently in my salary sacrifice pension which is automatically invested in the following: https://www.trustnet.com/factsheets/p/i6zf/av-mym-my-future-growth-pn Performance is so so, seems to be very 'safe'. I was…
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Clueless really about pension
Hi folks I am considering my options regarding early retirement. I am almost 59 and would like to finish at 60. I am in a LGPS and will have 20 years at 60. It is a mix of final salary etc. My last statement gave me a figure for benefits as of March 2017 and also a higher figure for the projected benefits at NRA. If I…
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Would you do it with these figures?
I'm thinking of retiring early at 56 in June 2018, my position is as follows and I'd be grateful for your comments. Simplistically, in today's terms, (from age 56 to 80) I will have (all figures are net of tax) * £150k - in cash, S&S ISAs and in a SIPP (amount to maximise personal tax allowance); * will receive in pensions…
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Abbey Life Personal Pension (Very small) - Better Alternative
A family member has recently come across an old personal pension they have with Abbey Life. It is a personal pension that includes a retirement fund and a former protected rights fund. The value is very low (Unit value approx £390, Transfer value approx £160). With former protected rights unit value and transfer value both…
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£780k pot how much would you drawdown each year
Hi, I am four months into drawdown fund of £780k. The wife will be eligible for a fund of £150k in 4.75 years time. SPA age for me is 12 years time, my wife 15 years and we have to make 5 years contributions for full SPA. She has given up work and we intend to have some good holidays though keeping an eye on the fund. I…
