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Lifetime allowance query
I have asked 3 different Financial advisors the same questions and got three different answers. It is hard to know who is correct and to whom I should seek paid advice. I am 57 and have had a NHS pension (1995 scheme) since 1980. I am in the fortunate position where my final salary in 2.5 yrs (when I reach sixty in 2021)…
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Moving £40k SIPP to Flat Fee Provider advice
Hi all, I've just hit the £40k mark with a SIPP held with BestInvest who have a platform fee of 0.30% - which means that i'm now at around £120 fee a year. This is about the mark where I think it becomes more economical to move to a flat-fee broker, does anyone have any good recommendations on ones with a flat fee under or…
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Advisor's Profit Margin?
I've been asking a bit about my Advisor's charges. Now I'm wondering what % of the charge he actually earns after costs?
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Tatton Tracker - What is it and how does it work?
I'm trying to understand what's in my SIPP. What's a Tatton Tracker? A lot of my money appears to have been placed in this-97% according to my platform. Am I right in thinking that the money from everybody who buys in, is pooled and invested according to their attitude to risk? I'm guessing it's managed en masse?
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Selling the house & renting in retirement ?
Hi Cannot find a thread on this one. Has anyone done this ? How is it going? Or, thinking of this as an option. What are your plans? I have been thinking about this for a while. Still A few years off retirement, but after making a profit on property in the last decade or two, cashing in our house makes sense ( we have done…
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Works Pension
My wife's employer ( Morrison's) is wanting to change the pension scheme. How do you opt out of the scheme and set up your own pension fund. Who are the best companies to go with?.
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Anxious about markets before pension drawdown
Hi We have started the process to go to drawdown (signed the forms on Friday) i.e. sell funds within my husbands Aviva pension and buy funds in a Royal London flexi access drawdown. This is via an IFA. I believe it takes about 3 days for the actual sale and purchase to take place. What worries me if there was a significant…
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State Pension and Tax Code
I have just started to receive my state pension (July 2018). Why is my total pension for the year taken from my tax allowance instead of what I will be paid i.e. from July not April. This can't be unique. There must be lots of pensioners out there where this done. Any explanation ?
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Deferred SP .. and early demise.
After April 2016 SP age: I'm sure buried (sorry) somewhere within DWP's webby (that takes me round in ever decreasing circles) is what happens to your deferred SP if you die while in deferment...but I can't find it. Anyone on here know? Is it paid to your estate? Spouse? Taxed? Trousered by DWP? And similarly what happens…
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Help understanding Tax Free allowance
Hi, apologies in advance if this has been answered already in the forum - couldn't find it. I had a couple of questions about the tax free allowance: 1) Let's say that someone is auto enrolled in their work pension plan and countributes some additional amount through salary sacrifice. Let's say that his tax free allowance…
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Different pensions all over the shop
Hi I'm 50 next year and have a chequered history of work experience and different pensions that I've paid into at different times. I've not been very good at keeping check and need some advice about what to do so I can understand where I am. Can anyone point me in the right direction? Are there reputable financial people…
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Pensions are bad from a tax point of view.
That is a startling conclusion I have drawn. I have one small DC pension (my others are DB) I paid into this during a 5 year period of employment and paid in a total of £7K. At the time I was a 40% tax payer, so on the way in, that contribution would have saved me £2800 in tax. Fast forward to now. That pension is in…
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Transfer value
I have a final salary pension with my previous employer and have been advised that the transfer value is just over £100k. Can anyone advise in layman's terms what a transfer value is, and what can I do with it? In real terms, is this transfer value actually mine and will I get my hands on it? My thoughts are that this is a…
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Difference between these funds
Hi all, Can anybody please tell me the difference between iShares Core MSCI World UCITS ETF USD (Acc) and the iShares Core MSCI World ETF USD Acc GBP. Also I noticed there is a 3% switching fee with the USD one. What does that mean. Many thanks for any help.
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Surprised at projected future income?
Hi there, I'm sure there is a good explanation for this, and I can't see it, so please can I ask for some help here: My friend is 29, has a pension fund value of approx £19,000, pays in £212 per month and her employer puts in £265 and the AMC is 2% (but is phrased as 'real terms 1%') but the projected annual future pension…
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AVIVA SIPP - Change Advisor but keep the SIPP?
If I changed my advisor would I keep my AVIVA SIPP? Would it be fairly simple to change my advisor? Or would I need to give him notice, and maybe have to wait till the end of the tax year? How would his fees be calculated if I cut short our agreement? Thanks,
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My Advisors 1.5% Charge?
My advisor charges me 1.5% on whatever I pay into my SIPP. This is as well as his 0.5% annual charge. Am I right in thinking this is so he can make some money for his efforts in case I decide to stop using him in the future? Also, I read somewhere that it's a good idea to pay this charge (and other charges) up front rather…
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Annual allowance carry over
Hi all, I'm trying to work out how much I can contribute this year tax efficiently. I have all of my contributions detailed on my pension provider's website, but they don't provide a 'carry forward' calculator, so it's a manual process for me. Is it a simple matter of totalling contributions from 6th April 2015 (say) to…
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AVC or Personal Pension/SIPP
Apologies, as I'm sure this question has been asked many times! I have paid into my workplace pension now for over 10 yrs without much thought to it. However, I pay the highest % contribution my employer allows me to pay in (and of course, they match that), but I feel it's not enough, and I want to pay more. So the dilemma…
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Withdraw 25% cash from from a cash SIPP each year?
This question was prompted by another thread. My wife has a SIPP holding cash only. Does she have only one chance to withdraw 25% of it tax free or can she withdraw 25% tax free each financial year? She is age 62 and does not currently pay tax but may (depending on income) become a basic rate tax payer if she still works…
