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Transfer or Stick??
Hi I am looking some of your thoughts, I appreciate I should and would take professional advice on this matter but I have a few queries that I hope some of you wizened individuals can help me with to help get me started.... So I have a couple of different pensions from the two careers I have had to date and am trying to…
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Are all good IFAs 3%?
I have an IFA at the moment who has detailed a very comprehensive 60 page report on transferring out of my DBS into a SIPP, along with consolidating my four other DCS's, setting up a plan to transfer it to Australia, tax warnings and loopholes, etc. etc. etc. He's also dual-registered in AU and UK, which is quite rare (…
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Pension Statement Worries
Hi I'm 51 and pay £400 a month into my personal pension which has a current value of £155K. The pension is with FundsNetwork and I used a Financial Advisor when I kicked it off (so a few FA fees are involved). My statement arrived today with projections for retirement at 65 and although the High Growth prediction for the…
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Is it possible to transfer part of a DC pension pot?
I have had a personal pension plan with Standard Life for over 20 years, it started as a group personal pension plan and originally it had a with-profits fund with a guaranteed 4% p.a. growth rate. I have since converted it to a personal pension plan and transferred in other funds and but none with a guaranteed rate. Now I…
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Equity Release
Hi can anyone help? I have no children to leave my house to but i also dont want to move out of my home. I am thinking of taking the equity out of my house so i can retire when im 55 any suggestions on this?
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Now Pensions
Hi All I have been auto enrolled with now pension I was told I would receive a letter with log on details before I started paying in. I see they have over 100 1star reviews on trust pilot I've been paying in just over a month and have emailed them but had no reply since giving them the details they needed? would it be best…
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How to find money to access pension
Hi I was advised this is the best subforum for my question. Been paying into a pension, and now want to take it early but need to pay a sum of £5-8k to collect my lump sum (been paying extra with more years to run). I have to send a cheque to cover it, but don't have the reserves to pay. I don't usually overdraw my bank…
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NIC shortfall - should I be concerned.
Noticed the following... Summary 40 years of full contributions 1 year when you did not contribute enough ~£700 to make up the shortfall. Should I?
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Challenging a Will
I have submitted this thread on another part of the forum but wanted to post it here too just in case anyone might have come across anything like it in their retirement planning. My most recent Will (2002) passes everything to my wife in the event I predecease her. She is 20 years my senior, so it never really crossed our…
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SIPP who to use
Narrowed down my options to regular deposit SIPP with a single VLS or Vanguard pension 2035 fund. Wont be changing funds or adding to them, at least 3-4 years anyway. Platform super duper functionality not a concern. More interested in low costs / annual charge. In your opinions who should I consider doing my own research…
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Company contributions and dates
I would ask my accountant but I don't seem to remember during working hours. Consider a company year as being a calendar year. A couple of questions. Could you contribute £40k to a sipp on 30 March and again on 10 Apr? So £40 in each of 2 personal tax years and £80k reduced taxable profit in the company year. i.e. the…
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Transfer advice
Quick question: In order to transfer out of a DB scheme with a TV over £30k, you need to seek advice from a suitably qualified IFA. What other formal requirements are there? Does the IFA have to advise transferring out? What if the IFA is dead against it? The IFA has to sign a certificate. Is there a specified wording, or…
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Changing “pensionable salary” definition
I have a quite generous DB pension. I started working for my company in 2003 and in 2011 my company made some changes. Previously my pension was to be paid on my average salary over the last two years befor retirement. In 2011 they applied a ‘cap’ to my salary before a large promotion doubled my salary. As such my salary…
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Annuity purchased without knowledge
Some years ago my business went through a hard time so I could no longer afford to pay my pension. The fund was therefore frozen at £79,000. My pension provider suddenly started paying me a pension at 55 of approx £273/quarter after tax. They had obviously purchased an annuity on my behalf without telling me. In 2012 I…
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Local Government Pension Scheme
I have been contributing to the LGPS for 20 years, working full time.and have now reached 61. My family do not seem to live into their 80's and 90's and I have fairly serious back issues which will limit my mobility as I get older. I decided that I would like to access some of my pension benefits sooner rather than later…
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MPAA and works pension implications
Hi , would be grateful for advice on this matter , last year I rearranged a few pension matters i.e. transferred out of a small D.B. pension , put three D.C. pensions into one P.P. including the stopping of my works pension , transferring out and then restarting immediately , I took the tax free portions and also a taxable…
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Can I really retire...
Dear All, I’ve been a reader of this forum for some time but haven’t posted until now. I’m 50 and my wife will also be 50 in Nov 2019, both healthy and active. My wife has already retired :) , she left her job 18 months ago and is enjoying the freedom that this has given her. I’m still working full-time but I’m finding it…
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Anything else I need to think about?
This is us: me 52 in July, wife 48. Each of us has around 32 years of NIC contributions. Both suffering health problems so I’ve decided that if my health permits I want an end game in 2 years, and it’s possible the wife may consider working a bit longer. We have a mix of savings (cash and unit trust ISA), private and DC…
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Defined Benefit to another arrangment ?
Hi, I'd like to come back to a post I made last week following some helpful feedback, a couple of similar threads and a bit more info from my side. Basically I am 60, just retired and already taking 2 DB pensions giving £19.2 k/yr. Wife also 60, still working part time but with 1 pension started, her income £ 11.2 k/yr.…
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Adding to pension each year then taking out 25% of new money the next financial year
Hello everyone - I'd be grateful for some informed advice as have asked both my IFA and accountant and they can't answer my whole question. If anyone could even tell me the correct term for what I'm wondering it would be a step forward. So, I'm a director of a ltd company and will be 55 at the end of March 2019. I plan to…
