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National insurance
I'm working part-time around studies, earning approx. £7.5K pa on PAYE. I get paid weekly and work irregularly depending on commitments, so some weeks end up paying NI, mostly don't. When I do pay NI, it's often because my employer has paid me late for some shifts so I get nothing one week and double the next. I've paid…
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ex employer pension
I currently pay into a private pension with AEGON, my current employers pension 3% a month and I also have a pension from my previous empolyer that I have not payed into since I left in April of last year. Is it worth me starting to pay into this again? I can afford to pay in around £20 a month which I know is not enough…
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Vanguard SIPP
Anyone have inside take on when this will be launched. Web site states towards end 2018. Just wondered if anyone has a bit more info...
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HMRC say no tax relief on pension contribution as I'm a 20% tax payer
Hi I thought I'd start a new post from my previous one as the subject has now moved on. Just before the end of the last tax year I deposited £14,000 ( this amount to take me close to 100% of my allowance) from a savings account into my works DC pension. The pension provider is BlackRock and they said they would not be able…
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Another LGPS possible transfer out?
Good afternoon all. Mrs Soap has stopped working a couple of months ago. She is 57 and intends not to work again due to caring commitments. She has a deferred LGPS pension that will pay £4.4k a year plus a £5k lump sum at age 67. Ten years away. A recent poster suggested his wife of a similar age may take her transfer…
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Old Mutual Collective Retirement Account Advice
Hi, Late last year (I'm 63 and in receipt of four occupational pensions totalling £16000) I converted my pension savings account with Old Mutual into a Collective Retirement Account with them, (drawing out my tax-free lump sum to reduce my mortgage (£25k) leaving me with £32350 invested in Blackrock Cash U2 Fund. I don't…
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Is there a difference between Pension Forecast and Statement?
I am trying to project my finances for my State pension age (66) in three years time. I have my latest forecast from DWP which gives me a "most you can get" figure. This is not helpful because I would need a "minimum you will receive" figure for it to be of any value. I have looked at the forums and see discussions using…
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Should I (can I?) start paying into a pension if I'm on benefits?
I am 27, I have been ill for the last 12 years and cannot work (I receive ESA and PIP) – I hope that that might change in the future, we'll see – but for now I don't know what, if anything, I should be doing about getting a pension. I've essentially lost a decade of pension contributions, and it could easily be another…
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Employer Matches Into SIPP
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Employer Matches Into SIPP
Hi, Hope there is anyone who can help. I am wanting to ask my employer to set up Contribution Matching into a SIPP. I understand that they can do this, although they are not required to do so. I also would like to know if I can contribute to my SIPP out of my gross earnings directly and up the savings on tax. I need to…
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LGPS Pension - Contingent Partner Pension
Hi One for the LGPS experts, if they do not mind. As part of my wife's small LGPS there is an element/entitlement for a 'contingent partners pension' after her death (assuming she has already retired). Is there anyway to decline the partners pension (after death) in return for a slightly larger pension? I understand why…
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I just want to go sailing
I am coming up to 66, still working, health OK, good enough salary, children 16 and 23 but two divorces have left me without capital apart from my pension. I have a full state pension available plus about the same again from private pensions and I am putting £1,000 a month into AVCs. I've messed about in boats all my life…
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What to do?
Hi I am looking for advice with regard to the most tax efficient way to access a couple pension pots from previous employment while retiring form my Local Government Job. I will be 65 in 18 months and have decided to retire. I have 2 pension pots from previous employment and 15 years’ service in the Local Government…
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Should we take my wifes LGSS pension now ?
I retired early a year ago at 56 taking a DB pension early having 40 years earned. Obvioulsy I took a penalty but worked out I would have to draw it for another 8-10 years before I broke even. Anyway my wife is 57 this year and also has a much smaller DB pension which would currently return £2700/year at 60 (3.5K lump…
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Frightened of doing the wrong thing!
Hello I suffer from extreme anxiety ,agoraphobia and am terrified of seeing an adviser. I have about 10 years left before i intend drawing my pension, and am low to medium risk. Thanks
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Voluntary NI contributions to increase state pension
I seem to remember reading an article a while ago about HMRC accepting voluntary NI contributions for missing years but that might not necessarily increase my state pension shortfall forecast. Can anyone point me in the right direction to read more about this. I also read that they will not refund for those years even…
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Deferred State Pension - Use it or lose it
If you defer (or don’t claim) your state pension, your estate may not be able to claim it. I am an executor for an unmarried person with no dependants who died before claiming his state pension. He could have been claiming state pension for 3 years. I have been advised that the estate cannot claim the amount of the pension…
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Release of 25% tax free money
I have a 'surprise' pension - less than £30,000 - (with Aviva), which was unknown to me until very recently. I have now had a session with PensionWise about my options, and am clear about the 'way to go'. However, I phoned Aviva several times during this period, and mentioned that whatever I opted to do with the money (I…
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Aviva Designer pension default funds: should I consider adding more funds?
Hi everyone, Two years ago I moved jobs out of a traditional academic institution (i.e. a University) to a research institution. Because of this I had to stop paying into the defined benefits USS pension and now pay into an Aviva salary sacrifice defined contributions designer pension. I'm 35, currently the pot is at 12K…
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28 years old, how much should i be putting into my pension?
Hi All, i am 28 with 2 children earning 30k PA (soon to go up) i have a meagre £3000 in my pension pot and i obviously would like to retire at some point in the distant future. What would be a starting point in terms of a monthly amount to put start putting into my pension pot? Any suggestions would be most welcome.
