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Small pension transfer
Hi, I have an old pension pot which I was hoping to take a lump sum from. It is a defined benefit scheme so I need to transfer it in order to this. The pension pot is around £38,000 and so requires FCA registered financial advice before the transfer can be done but I cannot find anyone who will touch it. I have been told…
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NHS Pension Transfer
Hi, Hoping someone can help with this. My wife worked in the NHS for a few years and has since left but she did have an NHS pension for a while. She now has a auto-enrolment pension and we were wondering what we should do with the NHS pension, should we transfer it to the auto-enrolment pension fund? If so, how would we do…
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Nortel Networks UK Pension Plan Members outside EEA
Hello, I'm a member of the Nortel Networks UK pension plan living outside the EEA now (Canada), and I'm trying to understand how one could exercise the option to transfer out of the plan. I wonder if any other former employees now living abroad might be in a similar quandary. I note the following firm statement from the…
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consolidating pots into sipp
I need some Sipp help please. I have been dithering over amalgamating all my pension pots (all money purchase) into a Sipp for quite a long while. I really struggle to get my head round pensions so would like a bit of general advice. I know it makes sense (or think it does) to open a SIPP. Partly because I am happy making…
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Hev
Hi my mum has an equity release agreement but now wants to sell her house and pay off the redemption fee after 15 years - she is 75 The equity company say she now owes £350000 (original loan was £80000) but to end the agreement early want her to Pay an additional £150, 000! Is this normal ? And is it legal ? Thanks
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The new WAGs - Worried And Guilty
In my pension planning I didn’t expect that i’d Still be worried about supporting the last two kids after UNI but it seems that I am fretting a lot. They are still at uni but I’m worried about their prospects after in terms of income and where they will live. Also feeling guilty about parents (mine have passed) but will we…
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HL losing the plot?
First time I've had an issue with h-l. Was moving a sipp into my drawdown account and had to talk to their expert to go through a few questions. Not a problem and most were mundane - pretty useless - and I'd done this before so nothing much had changed. Do you understand about ..... Well how would you know if you don't…
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LGPS AVC's Help please
Hi I'm pay into a LGPS 5.5% of my salary. I work part time. I'm thinking of paying some of my salary each month into AVC's to boost my pension as I'm in my late 50's now. I'm also a sole trader earning just a small amount but enough to tip me into paying a bit of tax. My local authority uses Standard Life and there are…
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Is this right
and what would the exact instructions be to the SIPP provider. My wife intends to give up work 2 years before SP age at this December. She will have amongst other investments £50L in a SIPP as cash. She intends transferring that to HL to take advantage of their no fee cash SIPP before the end of this financial year. She…
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Tax free lump sum and multiple pensions?
Hi everyone Another question from the former Ostrich finally trying to get to grips with pensions. I have a number of relatively small pension pots from different employers, Private pensions etc. (all DC) I understand that, in general, you can take 25% lump sum out without paying tax. My question this time is....Is that…
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State Pension and Ni contributions
I am due to get my state pension as from 15th May this year. I have looked online at my personal pension forecast and it give 2 figures. The one I am entitled to now and a higher one once my NI contributions for the tax year just ended are added to my account. The thing is that HRMC say that the Ni update is automatic and…
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Pension lump sum
I'd be grateful for some clarification about taking a lump sum please. I have two pensions, one DB (which I understand just fine) and the other defined contribution (which I don't). I retire in 3 months' time at 60. I'll wait to 65 to take the DB pension to avoid discounting. There will only be about £6K in the defined…
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Pension Pot Calculator
HI At this point I am only interested in the size of the pension pot when I retire (not how much income this pension pot could in theory provide). I want one where you can change nearly all the information relating to your pension contributions (admin charge, and growth and inflation etc) . I have tried a few calculators…
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Financial Ombudsman Service
Hi Everyone, Not happy with the value Prudential have given me regarding my with profits pension policy, or the reasons for poor performance, I am going to contact the FOS to help fight my case. Anybody out there used the FOS, are they any good or is it not worth the effort. Many Thanks
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Capita pension overpayment & improper financial accounting
Hello I am enquiring on behalf of my mother this is Ref to a Capita Super Annuation pension that my mother claimed as part of her divorce settlement from her husband whom is now deceased. Capita OVERPAID my mother unbeknown to her £1,300 and then Capita demanded repayments so my mother agreed, despite being on a very low…
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Voluntary NI contibutions
I have 35years paid but as I was contracted out by my employer my state pension forecast wasn't the max so I requested a statement telling which years I could pay to top up . Last year I paid two voluntary contributions years 07-08 and 08-09 , I noticed my forecast hadn't increased , I contacted the Forecast people and…
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DIY Pension Drawdown
Hi I wondered if any MSE users had gone down the route of DIY Pension Drawdown? I would be grateful for any advice. Let me set out my position. My husband has a DC pension pot with Aviva worth £160,000. He is 62 years of age and semi retired. He now wishes to retire. He receives a decent DB pension which pays the bills.…
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State pension forecast max years?
Hi everyone, I just got my state pension forecast using the Government Gateway service and it shows me that I have 40years of contributions and that my forecast pension will be £178 p/w. I am approaching 60 years old in July and facing redundancy around that time. The service also tells me that I have 7 years of…
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Pension Benefit Statement
Good afternoon I've recently requested a pension benefit statement and I would welcome comments on the amounts quoted. Deferred pension calculated at date of leaving (2010) £4264 Estimated pension payable from NRD £8418 Between leaving date and calculation date the pension receives increases at 3% or the rise in average…
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tax treatment of UFPLS
I made a UFPLS withdrawal from my SIPP just before the end of the tax year. It's the first withdrawal I've made and I'm having trouble understanding the information I have so far received, so I'd appreciate any explanations or pointers to explanations! I withdrew £6666 gross. I expected that would give me £1666.50 tax free…
