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Money protected if with The Lifetime Sipp Company ??
Although I'm no longer with 'The Lifetime SIPP Company' as Interactive Investor has moved my SIPP management to BW SIPP LLP the recent announcement of The Lifetime SIPP Company going into administration has got me wondering. How are SIPP's protected if the company managing them goes into administration? - Does the £85,000…
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Personal rate of inflation
At age 62, I have enacted some of my pensions otherwise work part-time With my pensions rising by 4% this year, I wondered what the real rate of inflation was for me. I found an interesting personal inflation calculator here: https://www.rathbones.com/personal-inflation-calculator Interestingly, it gave my personal rate of…
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National Insurance Shortfall - Returning to work in UK from Abroad
Hi all, I'm returning to the UK after working abroad for 10 years and not paying any NI contributions during that time. I have a wife (non-UK citizen) and child (UK citizen) if that matters for my situation. My shortfall is about £6,200 for the tax years 2008-09 to 2016-17, plus 2017-18 which HMRC don't have figures for…
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The Lifetime Sipp Company in administration
Administrators appointed to find a buyer for The Lifetime Sipp Company!!!8217;s pension assets have urged investors with funds at the failed firm to contact financial advisers. The Lifetime Sipp Company is one of hundreds of small firms offering self-invested personal pensions (Sipps). These allow investors to put their…
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LGPS scheme question
My wife who 12 months ago left her job in a school which she was in the LGPS and had been for a number of years previous. In this time she was also in from what i can see the FS scheme also for a period of time. Moving on she has now started work in another school and is back in the same LGPS. Now this is the main question…
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Independent Financial Advisor - expectations
I have multiple pensions from previous employer schemes into which I am not allowed to contribute. So I decided to seek an IFA for advice on whether to consolidate them and/or invest in another product into which I can make regular contributions. I found an IFA and felt comfortable after the initial exploratory meeting so…
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Really confused about grandparents allowance for child care
As a grandparent I only worked 10 years and so won't get the full state pension. My son says I should take out the grandparents carers allowance, does this mean my son will lose out on pension credits by giving me his allowance?
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TPS, Lump Sum & TFLS
Hi, I am trying to understand the TFLS aspect of the lump sum part of the TPS. Is the 25% calculated on the total value of the pension (20 x yearly payment plus lump sum) or is it 25% of the lump sum only? The reason I ask is that I believe pensions can be different in this respect. I know that mine (inc. any AVCs) is…
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The State Retirement Pension and extra NICs
Are you considering making extra National Insurance Contributions to increase your eventual State Retirement Pension? Perhaps you should read this. https://youngfiguy.com/the-state-pension-ni-fiasco By golly, it's complicated.
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Flexi drawn down and combining pension pots
I am posting on behalf on my wife. She is 60 and semi retired with a small self employed income of about £10k per year. She has two pension pots, one worth about £30k and the other about £60k. Her plan is to combine these into one flexible drawdown product. Does this make sense and can she do this without using an IFA? One…
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Pension contribution taken from before tax or after?
Hi All I'm a teacher, my salary is £35,200. I have asked HR if I can put more into my pension from my monthly wage. They have said that I am putting in the maximum which they say is 6%. According to salary tiers and contribution rates set out online, I should be able to put in 9.6% as I fall within the £35,000 to…
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Ready made retirement portfolios V IFA charges?
Does anyone have knowledge of ready made retirement portfolios that could be held in a SIPP? I would imagine that for retirement income and some moderate capital growth there would be a leaning toward bonds/guilts etc? As we all know, one of the important features of investment is to keep charges low. Is 1% pa too much to…
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Help, advice?
Hi, I'm pretty new to this forum so unsure if I'm posting this correctly, however if it is wrong just point me in the right direction. Ok so my problem is this, I currently have an excellent DB Pension with my employer who I've been with for the last 38yrs come September. I took a hit on it in 2010 when I lost 30% of it…
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NHS Pension to LGPS Pension
Hi all, I have the opportunity to transfer my NHS pension to the LGPS pension and I am struggling to get my head around the advantages of each. I worked for the NHS between April 2009 and October 2016. I started working for an organisation that uses the LGPS in March this year and have the opportunity to transfer. I am 32.…
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Standard Life Pension Fund Advice
Hi All, I am looking for some advice as to which funds I should invest my pension. I have one previous pension worth £3689 with Aegon which is in the proccess of being transfered to Standard Life. My current Stand Life pension is currently at £14472.20 invested in the Standard Life Passive Plus V Pension Fund. I changed to…
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income from drawdown and tax bands
I am over 60 and currently in employment with a total income below the threshold for 40% income tax. I am contributing to my employers DC pension scheme. I also have a private pension pot from previous employers that I am planning to move into drawdown. If I take £3,000 per annum in drawdown then that would put me into the…
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NI after April 2016 - COPE
Just pondering at work and wondered about the added money for full years to get the £4.47 (or whatever it is now). I know that this year will count but from April next year it won't count for me as my SP starts March 2020. My question is, if I decided not to work for the whole of this year and retire before the SP kicks in…
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MPAA - just to be clear
OK, so I understand that the MPAA is currently set at £4K per year. What I'm not entirely clear on is what triggers it. If I understand correctly, if I take any TFLS from a pension it won't trigger it. If I use the funds to purchae an annuity it won't trigger it. If I take more than the 25% TFLS from a SIPP, it will…
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Just Checking Something
Just had a minor brain-fart :o If I draw my FS pension @ 60 (NRD) but am still working and contributing to the current FS(CARE) scheme, that won't trigger MPAA, will it? Didn't think it applied to FS schemes, but just checking :)
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Rbs Pension advice
Hi I'm looking for some advice, my pension knowledge is lacking and we're currently assessing our company pensions we have. I have a RBS group pension and my question is does your pension pay out until death or until the pot runs out? Sorry if this is a ridiculous question but I honestly have no clue and have tried to…
