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NHS Pension Scheme Question
Hello, I am about to start a career in the NHS and want to understand the pension scheme fully in order to get the best benefit from it. I'm sure the answers are fairly obvious but I am having trouble getting my head around the full scheme. I am also aware that as pensions go, although benefits have been cut back in recent…
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St James Place Any Good
Hi Im looking for some help, Ive got a financial advisor raging about St James Place and wanting to transfer my £50k pension from The Old Mutual to St James Place, Ive never heard of this company and when I google getting a few funny reports, are they any good, can anyone recommend a good company to use, Im going to be…
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Investment returns for spreadsheet
I've read about the SWR suggested figure of 4%. When designing a financial plan spreadsheet what investment return do you use, average stock market increases over the last 20-30 years? At the moment I've got a spreadsheet based on some simple assumptions, and it doesn't have any long term gains or losses on stock market…
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AVC charges
I had to put money into an AVC, because I couldn’t transfer all the money I received from a mis-sold private pension into my company pension. I haven’t put any more into it as I put money into my company pension. Now, the annual charges for my AVC are higher than what I’m gaining from what it’s making. So, I am losing…
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Opening a SIPP and investing in Vanguard LifeStrategy 80
Hi Want to open a SIPP for the wife, know very little about investing but from what I have read on here Vanguard LifeStrategy 80 might be what we are after. Want something that we can invest in and forget about and hopefully see growth that will beat inflation. Looking for a pension to plug the gap between our planned…
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Widows Pension from 1998 at age 40, now 61, what happens to my pension?
Widows Pension from 1998 at age 40, now 61, what happens to my pension at 66? I received Widows Mother's Pension, which became Widowed Parent's Allowance, and now my children are all grown up Widows Pension. This pension is more than normal due to the contracted out portion. My question is, what happens to this when I…
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Mechanics of taking 25% tax free
Good Afternoon All I have £90K in my AJBell SIPP and would like to take the 25% tax free element later this year when I reach 55 (please no questions/responses as to why I am taking the lump sum and not leaving it invested). There are some forms to fill in which allow me to proceed. How does the provider deal with HMRC, do…
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Error on LPOA - who's responsible?
I didn't really know where to post this. I've already asked on Legal Beagles but it seems very quiet compared to here, so I'm trying here on the off chance you people can help.:) I have LPOA for my gran, all set up and registered by her solicitor in 2012. Her bank has called me today to say that her DOB is wrong on the…
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Small pension pot query
I have a one small pot (under £3000 ) and am wondering if I can cash it in, I think that it would be 25% tax free and then 75% tax on remaining. As over sixty (not yet at state pension - next summer) but have another private pension which brings in under my tax allowance - would the annual allowance I still have left bring…
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Have I missed anything?
I've been a lurker on this board for a while and thought I'd jump in. I'm 56 and hoping to retire at 58 and this is my plan... I'm a defered member of a DB scheme and also currently paying into a DC schema. DB will pay £20k p.a. at 60 (20% deduction as normal retirement is 65). I plan to draw down on the DC pot of £40k to…
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Financial Independence and N.I. qualifying years
I have aspirations to and am working towards being financially independent before I'm 50. As this could happen before I have the number of qualifying years for the full state pension I've been looking into various options including working part time or making additional contributions to make up any missing years. However…
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Pension, Lifetime ISA for a self employed individual...What are the options
Hello, Within the last year I've become self employed and am in the basic rate tax band. I've always paid in through a pension with my employer but obviously I don't have one anymore. Can someone advise on what the best options are? Id like to get something setup as soon as possible but don't really know where to start....…
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Retiring at 55 & Occupation Pensions
Hi I know a lot occupational pensions will allow you to retire at 55 and take a pension. However should you decide to do so would you lose some of your pension income? Would be grateful for any advice.
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AVC transfer to Sipp - fa advice?
I am in the process of transferring an old avc that is part of my deferred final salary scheme pension provision. On speaking with my Sipp help desk today they said that I may need to take professional advice with regards to this transfer, due to the tax free cash option. The value is around £15000 I am trying to transfer.…
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AMC too high ot about right?
Hi everyone. I had a workplace pension set up a couple of years ago with "The People's Pension". After doing some research I've seen that the AMC is 0.5%. After looking around online it says an AMC of 0.5% can eat into your retirement pot but up to 11% by the time you're due to retire. This got me slightly worried. Am I…
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Glaxo Smith Kline CETV halved in 12 months
I have an old deferred DB pension with Smith Kline and French (now GSK). A year ago I asked for a CETV and was quoted £106k. I asked again recently, having waited for another free quote rather than spend £150 for it. It came back after a long wait as £51k I know Trustees might change strategy and Gilts may recover but…
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Pension planning sites?
Hi all, Would appreciate some advice or thoughts on best way to plan for retirement. I've been looking online for a pension planner that allows me to enter both my details and my wife's, and allows both DC and DB pots/pensions, and the ability to amend/increase contributions and run various different scenarios with…
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Equity Release or Re-Mortgage to fund retirement?
Please move if not in the right place i am mortgage-free (house value £500k) and would like to retire at 60 (next month) but thanks to pension changes :mad: im unable to do so (unless i go for one of the options below) for another 6 years:mad: i have £500 pcm coming in from my nhs pension, £50k in savings and £120k in…
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LGPS transfer to NHS pension or get a refund?
Hi, I'm hoping someone may be able to point me in the right direction... I left my employment 31/3/18, of which I was contributing to an LGPS and returned to full time study. I have now been employed by the NHS and have opted in to the pension scheme. I have more than 3 months service, but less than 2 years with the LGPS…
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Kids pension overpayment query
Good afternoon. Can anyone please help me as I have paid into my child's pension the maximum limit allowed and the government will top.up by 20% in due course. Can anyone please tell me if I can add any extra or do I have to wait for the next tax year or would the government just not add and more? Thank you
