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With Profits Terminal Bonus/Transfer Value
I am 62 retiring in 2/3 years. I have a Friends Life (now Aviva) With Profits pension that matured when I was 60 and I have continued to leave it in place. The transfer value has grown well in the last 10-15 years. However, this has been due to Terminal bonus which I understand could be removed at any time. If removed my…
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SIPP Relevant Earnings for a non-taxpayer
Hi, Please could someone clarify what counts a 'relevant earnings' for a non-taxpayer? For example: I earn £10,000 from my employer, so pay no tax. Can I still pay £8,000 (net) into my SIPP, which would get £2,000 tax relief making a £10,000 (gross) contribution to my pension? Is this correct??? I've search the internet,…
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Merry Christmas from Toys R Us
Company pensions scandal has new potential to stiff workforce. This time with an ‘Offshore Financial Centre” thrown into the story. ”Field has raised concerns about Toys R Us in the UK writing off £584.5m in loans owed by a Toys R Us firm based in the British Virgin Islands.”…
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Pension lightbulb
I turned 49 this month, at the end of a year where I carried out a major refurbishment on my house. I took on a larger mortgage to do so but I figured that being happy where I live now was more important than finding something else to do with the money. I had always intended to work hard at paying off this mortgage by age…
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Pension pots and esa
Hi thinking about cashing in my pension well 25% Thing is I am on esa will this affect my money in any way
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Some help needs LGPS possible AVC
Hi I wonder if you knowledgeable people can help me with my thinking. I am 55, single and worked in local government from 1987 to 2010. This pension is deferred and will pay about £21k per annum at 60. I left and returned in 2013, this current pension has a small amount of final salary and the rest is CARE. For, the first…
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Thoughts on this Pension fund?
I invest separately in Vanguard LifeStrategy 80%, my wife uses 100% in S&S ISAs. Just wondering what more experienced folk may think of the following pension fund, and whether it compliments my LifeStrategy at all. https://documents.feprecisionplus.com/Factsheet/SWPOC/FS/QG30_SCD.pdf
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Advice on Auto Enrolment Transfers
I have two pension schemes that I was auto enrolled onto by the companies I worked for. I firstly have an Aviva Friends Life Long Term Capital Growth FP, and I also have a NEST retirement scheme. I paid into these schemes for about a year each, so they have a similar value. I can't take any of my retirement funds until…
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LTA @75 regarding DB (rpi) Pension
Hi guys, my pension provider has completely confused me !!, I dont believe they understand LTA nearly as much as you, as always any help much appreciated............ 1.. I retired Feb 2007 with an LTA of 35% based in £1.5m 2.. This week my provider sent me a letter stating my current LTA is now 72% !, they did a similar…
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Sipp?
Hello, Quick question. Mid 30s, been paying into Private pension for 7 years or so via an IFA distant family member... provider Scottish widdows. Would a sipp be the way forward in a cost effective way via someone like Hargreaves landsdowne? Would I have to cherry pick everything or is there one 'go to' option? Are sipps…
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Scottish income tax on pension contributions.
Sorry if this has been asked already, but what will the position be next year with SIPP payments for Scottish taxpayers? If basic rate will be 21%, will the SIPP provider add back all the basic rate tax paid and then anything that falls within the 41% range sorted as usual through the tax form. Or will the SIPP provider…
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AVC headache
Will try to brief - my husband took early retirement at 61 (May 2014). At this stage he was offered a temporary contract and continued to work 3 days a week until March 2015. In May 2014 2 employer based pensions were claimed at a total of 19.5k pa. This included a lump sum which is invested but as pension rules were…
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Pension refusing to pay out lump sum, as its over 30k by £21 from inflation
The original company I paid my AEW Pension into went into liquidation, it took 8 years to sort out what was going to happen with it. The pension spans 19 years of work until I was made redundant (i've lost 10% from liquidation already & this current amount of £39k is the annuity, I will be given whatever difference to make…
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Steel workers suffer from ‘just plain crooked’ pensions advice
Anyone thinking of speaking to an FA had better beware, the FCA’s own studies indicate that less than half of the advice given by financial advisers on transferring from defined benefit pension schemes is suitable. British Steel workers are suffering from bad financial advice which can encourage them to quit their valuable…
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Taking tax free allowance out in one go
For a retired non earner is there a way of taking the whole maximum tax free personal allowance of £11850 from my crystallised drawdown personal pension immediately after 5th April without having the tax stopped and then having to go down the P55 route to get it back (took 3 months last year) ? For info - I've already had…
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State pension underpaid
Hope someone can help me with this. The DWP sent me a letter saying that they had been under paying me since 2010 they say it is £ 1200 a year it comes to aprox £ 11K, but what about the interest on this money they owe me. And what will the inland revenue want out of it when I get paid. As you can imagine I am spitting…
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pension advice
can anyone recommend a stake holder pension provider that helps physically disabled? I'm unhappy with my current provider they are helpful.
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retirement classes
Does anyone know if there is a retirement class or course I could attend, as I retire next year and advice would be very helpful. This is my first time on MSE Forums, so I'm not sure what to expect now.:beer:
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Pension Plan for a Professional Artist?
I'm a professional artist and have achieved a regular income for the past 4 years by selling paintings (my only income currently). I get the occasional windfall when I sell a larger painting or get a commission. Apart from some ISA savings I don't have a pension plan. I'm due some inheritance and will have a sizeable sum…
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State Single Teir Pension and making back payments
My record shows I have 37 qualifying years, therefore I’m over the maximum requirement of 35 years. But many years NIC payments were on the Opted Out basis and therefore contribute less to the final calculation of my STPS pension payments. I’m still making contributions and have a few more years left till I reach my State…
