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GMP and COPE
I have a deferred DB pension (all post 1988 service), should the GMP value be the same as the COPE ? Using the latest statements from both the present COPE is ~ 5 times the GMP. I’ve tried asking the scheme admins, but no response. Many thanks.
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Contracted out for total employment history
Morning I have very recently qualified for my state pension. I have the full 35 qualifying years and was aware that I wouldn't get the full state pension of £164.35 per week as I'd been contracted out for the whole of my working life. I can't seem to find any information about how much my state pension would be/has been…
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Section 32 and GMP Help
Can some of you good folk help me understand my pension, I’ve tried my own research but feel I'm on the wrong path. Because of recent news about my health, and annual statements don’t show the with profits element, I called up the provider last week to get a pension valuation, they gave me the up to date figure but also…
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SIPP vs LISA
My husband is currently autoenrolled in NEST with pretty poor employer contributions (currently the bare minimum). He is a basic rate taxpayer and, being 31 and with quite a small pension pot he is keen to build this up as much as possible. Given the limited investment options with NEST and his hope that he will eventually…
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Please look at my portfolio - should I make any changes?
The end of our company drawdown period is fast approaching. This means that 'large' investments etc will soon come to an end and myself and Mrs Leader will be moving into de-accumulation. We will be looking to fully fund the ISA's each year, by increasing liquidation of out trading funds. Our current breakdown is as…
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Pension options
Hi all, Your opinions please. I am 58 & have 2 Pension’s. The first one is from a company I was made redundant 18yrs ago. The 2nd is with my current employer & this pension is run by Aviva. The company running my 1st Pension have offered me an uplift to my pot, if I wish to transfer out. The fund value was £129,000 but…
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Low earner pension contribution
First some facts - I hope I have included al the relevant info needed: I am a part time worker and a low earner. This year I became self employed. I opened a SIPP on 19/02/2018 and transferred in my previous workplace pension - held since 01/08/2015 - balance £2200 I would like to contribute a lump sum to my SIPP. This…
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Junior Pensions (SIPP) Tell me everything!
Hi I am considering a junior pension for our child. I am trying to research the best way to go about it and also the pros & cons. So far I have: - government tax relief of 20% - way to save for your childs future (very long term though) I am not sure on impacts of Inheritance tax? Where is the best place to start…
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LGPS Added Years & The 85 Year Rule
Hi LGPS gurus, I have been making addition contributions to buy Added Years within the original 1/80ths LGPS scheme since 2007, and these are due to continue until my 65th birthday. As I was an active LGPS member at the September 2006 cut-off date, my age and membership qualify me for the 85 year rule, which means the…
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Multiple pension pots question
Hi, Confession time! I don’t really understand pensions, so I’m after a bit of general advice. I’m a mid-30s Male. I left local government job about 2 years ago. Whilst I worked there I paid into the LGPS pension scheme for about 10 years. When I moved to my current job 2 years ago I could not transfer my LGPS to my new…
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Pension upon divorce.
A couple have been married for eight years. They both work (in fact both have the same occupation) and both pay into the Pension Scheme. Does the wife have a claim upon the man's pension if they divorce? (No children of the marriage; the man has grown-up children from his first marriage, and marital home was rented).
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Are small pots worth doing?
I am going to exceed LTA. if i pay into my employer scheme via salary sacrifice I get an NI saving plus half the employer NI. If i reduce my conts to try and get 3 small pots elsewhere, I forego the NI saving but no LTA charge as small pots do not count towards LTA. i think that any gain is marginal at best and may not…
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IFA credentials
I have been receiving some financial/pensions advice from an IFA employed by Sebastian & St James. The advice seems very credible, but the firm is registered in Dublin and regulated by the Central Bank of Ireland - does this have any implications I should be aware of ?
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pensions and social housing rent
talking to a collegue he said he wont take out private or workplace pension because he is in social housing. when he retires he would have to pay his rent and be no better off than if he has no private pension. if his only pension is state pension the rent is paid for him. I am also in social housing (housing association)…
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What to do with H&L Sipp
Hi, I took advice on here and paid in £3000 to a H&L SIPP to get the tax relief of £750. I put it in as a cash SIPP that I would be able to draw. I haven't drawn any as yet and I believe I am right in saying it will not be earning any interest? I want to take the money out, or rather some of it, to put it somewhere where…
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Higher Rate Pension Tax Relief Help
I earn over the £45,000 higher tax rate threshold and I'm just wondering how I would claim tax relief on my pension contributions? Does this count for my current workplace scheme?
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Pension 25% free
hello I will be retiring in 2020, at 55 I have a work pension i can draw at 60, but currently earn 50k a year is it rightthat i can pay say 36k now into a private pension and recieve a 25% boost from the government straight away, and then at 55 take a lump sum tax free out ( not sure how much would be tax free as i wont…
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Additional contributions to TPS - thoughts?
Background, Mrs. L is a full professor, working full time at a UK university, enrolled in the TPS with about 15 years total service (split between the 80ths scheme with NPA60 and the career average scheme with NPA67). Salary £60k, early-mid 40s, and not planning on retiring early (might become an option in the future, but…
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Taxable and Non-taxable Income
Hi, I currently have an old personal pension with Phoenix worth around £150k. I have already been informed that this policy does not allow flexi access drawdown so I will need to transfer it to another company. I am aged 60 and have stopped work, and want to access some regular income. Before I start discussing my options…
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Pension far less than expected
Hi, Wonder if anyone can advise. My father is due to retire shortly and is paying into 4 private pension schemes. However the value of them is nowhere near what they were sold to him as. For example... Pearl have given details on the original paperwork that when he started the pension he would have a pension of £175 per…
