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Eggs in One Basket: All savings moved into WRAP?
My FA is advising that my wife and I move all of our savings/ISAs into our WRAP accounts. Is this a case of placing all of our eggs in one basket?
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Pensionbee
Hi all. Sorry - I am new to the forum but need some advise. Does anyone have any experience with the above company - Pensionbee? I have 7 pensions - some personal and some company - which I want to consolidate into one and this company seem to have good reviews. I suppose you can't help being nervous though. Thanks Eric
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Pension carry forward amount??
Hi All I signed up for a chat with a Pension Wise representative at the local CAB mainly because it was a freebie and I need to start maximising my savings/pension etc as tax efficiently as possible. I have savings, have used up my ISA limit, and would happily deposit monies into the next best tax efficient vehicle. The…
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Private pension
Can anyone advise me on how to recover my late mothers private pension lump sum award. She decided to take her small private pension as a lump sum and was awarded it by letter and was advised that it would be transferred into her bank account a month after receiving the award. Before this could happen my mother passed away…
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Treasury Select Committee on Household finances (inc retirement saving)
https://publications.parliament.uk/pa/cm201719/cmselect/cmtreasy/565/56502.htm Section on Saving for retirement - discussing tax relief, LISAs, self-employed auto enrolment and more: https://publications.parliament.uk/pa/cm201719/cmselect/cmtreasy/565/56508.htm#_idTextAnchor048 Don't know if their report will make a…
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Teachers' Pensions problem. Need to find expert legal advice.
I have an issue with Teachers' Pensions and their claim of a sixteen year overpayment to me. I need to find a legal firm/solicitor with expertise in this area rather than general employment issues in order to get advice as to what to do next. I have tried the Law society but no experts in the localist area. Tried…
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SIPP Tax Return
Hi All, I had a search but I couldn't find an answer to my specific question. I have a SIPP that is managed for me, last year I received a consolidated tax statement which I used to fill in my tax return. This year I haven't been provided with one. All of the dividend income is reinvested into the SIPP. Do I have to…
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Help! Parents told they need to pay back £36K pension overpayment
Well, I'm not in possession of the full details at the moment and will find those out shortly, but the short story is that since around 2003 my mum has received a pension on top of my step dads pension of around £54 a week. Apparently this scheme was stopped in 2007 but because they were already on it this payment has…
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D.B. to SIPP transfer advisor
Hi, i have made the decision to take the transfer value (436k) from my defined benefit pension and move it to my SIPP. Despite being a seasoned and confident investor I am struggling to find an advisor to give me the positive recommendation required to satisfy my SIPP provider(I.I.). Has anyone out there experienced this…
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Personal pension for non tax payer and self assessment
This is complicated. I am 54 and I haven't been in employment since 2013. I do receive some book royalties annually which I declare on my self assessment form as other taxable income and used to pay tax on when I was working. Last year I realised I was missing a trick by not investing in a personal pension - I could put…
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Pensions and Care Home Fees
If you go into a Care Home , and being assessed financially to see what contribution you have to make then my understanding is If you are receiving DB pension payments or payments from an annuity these are counted as income and you will have to contribute to care home fees out of that If you have savings, including ISA you…
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Tax relief & other questions for 17 year olds first company pension.
My daughter is 17 and works part time (still in 6th form) for a major supermarket. She is able to join the pension scheme which includes a generous (by my company's level) employer contribution. What I am unsure about (even after reading the pension member documents) is the rules for 17 year old's. Although the documents…
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Pension options for newly employed
Hello DD has just started first job and is now enrolled in a work pension scheme. However, she has capacity to add more but work does not top up so we are after advice pls. She has a LISA and ISA. She has also opened very low interest account to stash whatever extra she can save but would it be better to open a proper…
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Medical Disclosures Review
I have had a letter from Legal & General re MDR. This threatens to reduce my annuity if the MDR does not support what I have told them at worst I may receive their standard annuity rate. But I was under the impression that I was receiving their standard annuity rate. I declared my only ailment which is does not limit…
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Guarantee Period of Annuity and Funeral expenses
I posted this earlier on the Death and Funerals site but now think that it belongs here. Please let me know if I am mistaken. After a lot of consideration, I have decided to buy an Annuity (an Enhanced one, because of my medical history), from a previously unknown Pension Pot (long story which has appeared here before) and…
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Transferring Teachers' Pension to NHS Pension
I need some advice regarding my public sector pensions. I am 38 and have been working for the NHS for almost 1 year and paying into my NHS pension. Prior to this I worked as a teacher full time from 2005-2011 and part time from 2016-2017 (sporadically). I had a break from Summer 2011 to Summer 2016 when I didn't pay into a…
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Drawdown Proposal for benefit of son
My wife has a SIPP currently valued at £80000. She is nearly 62, a non earner, her savings interest for this tax year will amount to £1800. We originally intended to leave the SIPP invested for the benefit of our 26yr old son, primarily to boost his own pension in later life. He currently earns £27k, his current employer…
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DC Pension after death
If my DC pension is partly crystallised and a little below my LTA, does my wife inherit the LTA possible burden with my pension when I die (below aged 75)?
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Help with understanding pension statement
I am 54 and have had to stop working due to ill health. I don't qualify for medical retirement with my pension because I am expected to make a full recovery in time. I asked my pension provider, LPFA to provide me with informatio as to how much pension I could expect if I take my pension next year at age 55. I have 21…
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Reviewing pension advice from an IFA
Hi, I’ll try to keep this short. In 2015 I decided to take early retirement (63). I was in a defined benefit scheme, however as there were real concerns about how the scheme had been managed and a worry it could fail, I took advice from an IFA and agreed to cash transfer out of the scheme. Although I’ve no specific reason/…
