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Pension administrator has screwed up
I have a small DB and DC pension, both administered by "Capita". I recently retired early and requested forms to start taking my pension. I decided to go for option 2A on the forms which was:- Monthly pension payment and a tax free lump sum amounting to 25% of the combined DB & DC pot. This effectively means the tax free…
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SIPP vs personal pension and compensation limits
I've currently got a SIPP with HL which contains just the Vanguard LifeStrategy 80% equity accumulation fund. I originally set it up in a SIPP because at that time I couldn't find the Vanguard LS funds in any personal pensions (either that or I missed them when I looked!) I see that Vanguard LS funds are now available in…
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Application to fill in NI contributions from abroad
Am filling in the NI38 application. I came back to the UK from abroad in 2010. Want to pay for 2004-2009 which haven't paid for. Was told to tick class 2 and short fall. I guess I would need to have been self employed when abroad? What E.g it says - how long do you intend to stay abroad etc, what do I put for that…
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Pension Advice for a Newbie
My brother just turned 45. He has no mortgage or dependents and no pension! He is self employed and can £10k away a year for the next 10 years when he hopes to semi-retire. Any advice of where he can start in deciding and what he needs to be aware of?
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SIPP advice moving from Aegon Retiready
Hi, I have an old workplace pension that has become a SIPP which sits with the Retiready platform, I wanted to change where this money is currently invested but the Retiready platform has a very limited number of fund choices available...also when I read some reviews, Retiready didn't sound like the best platform to be…
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Workplace pension/Salary sacrifice
Hi all, I've been a member of my workplace pension since May 2016, In have only just started to research and learn about finance and how all this stuff works. I have a few questions if you don't mind: 1. In have only made one contribution to my pension which was 55p, in May 2016, which baffled me as I assumed they took a…
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Reinvesting inherited pension
Hi, My husband died 6 months ago and I have inherited his private pension - tax free. I was wondering if can I live off the inherited cash and re-pension my salary each month to benefit from further tax relief or would this not be permitted under the new pension recycling restrictions? Initially I planned to re-pension the…
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Workplace pension/Salary sacrifice
Hi all, I've been a member of my workplace pension since May 2016, In have only just started to research and learn about finance and how all this stuff works. I have a few questions if you don't mind: 1. In have only made one contribution to my pension which was 55p, in May 2016, which baffled me as I assumed they took a…
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Pension help for a dummy
This is the post I have been dreading writing and putting off :( but I need to take my head out of the sand and sort something. I am 45 and don't have any pension apart from what I have been paying in via work schemes, I am aware this probably isn't enough. I worked since I was 17 paying work pension schemes with a 7 year…
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International early inheritance - so many questions!
Hi everyone, sorry far the lengthy post, but I over Christmas had a few discussions which left me very confused. I appreciate any pointer in the right direction since I am completely clueless with inheritance, first time I thought about it was 4 days ago - so please give me the easy treatment! :-) Better start with the…
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Taking my pension early
Hi guys, I've recently left full time employment with a telecommunications company where I had been paying a higher rate of pension through their scheme. I've now left and I'm a director of my own company. My question is, what happens to my pension now. Can I pass it off to another private one or can I release any of the…
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Tax free lump sum
I have a frozen final salary scheme which has the option for a tax free lump sum. I also have a stakeholder scheme which I can take 25% tax free from and then pay tax on the rest as I withdraw it as lump sums. Are these tax free lump sums completely independent of each other or would taking one limit the amount I could…
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Credit for NI Contributions?
Some years ago I stopped working in order to take a full-time degree as a mature student and qualified for and received a grant. I remember phoning to enquire what I should do about NI and I was told at that time that I would be eligible for contribution credits for the three years. When it came to receiving my pension it…
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Can anyone tell me why there is cash showing in pension?
As the title suggests, can anyone tell me why there is approximately £2800 in cash in my fundsnetwork pension? I have only ever invested money into Vanguard 80 and Blackrock 100. Is this just cash that is waiting to clear, or money I have made back from the investments? If so, should I be withdrawing it? Doesn't seem to…
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Consolidating pensions - advice needed
Hi, I've been trying to help my step-dad with his pensions. He has 4 (we think) in various places. We want to consolidate them for ease of management and to minimise fees. I'm come unstuck because two of his pensions were taken out a while ago and have features which I've never encountered as someone in their early 30's.…
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Pension not in my full given name
Hi I am in the process of consolidating a number of small previous company / personal pensions into a SIPP. I have just got the (very involved) paperwork for a company GPPP pension that is Trust Based and held by Standard Life. They are insisting I provide original birth certificate and marriage certificate to prove name…
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Pension query
Hi, I have a long way to go to retirement so my pension compnay predictions are not really anything I can take as that's what I will get as soo much could happen in the next 20+ years but I was wondering based on current predication (even though as said probably inaccurate) if these were a option:- So Pension predication…
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Pension portfolio drawdown and protection
Having saved in to our pensions since we were 16 we now 40 years on have a very significant sum to invest. We have decided that we do not want an annuity and we have been recommended to put the sum in to a platform, which will allow us to monitor performance, risk etc and draw sums as required. However I am worried that…
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More pension income vs lump sum
I’m coming up to 60 and thinking of retiring in the next 6 months as my health isn’t what it was even a few years ago and I will be able to retire now without the dreaded actuarial reduction! I’ve been asked whether I want to take pension income plus a tax free lump sum or a higher pension income with no lump sum. I worked…
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Contemplating retirement
I am almost 60 and will get my NRA60 pension from Royal Mail shortly. Originally I would have accessed all my pension them, but in 2008 they changed the scheme from Final Salary to Career average and everything after 2012 moved to NRA65. I will have done 30 years next year but thanks to moving another pension to RM and…
