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Transfer dormant stakeholder into Civil Service Alpha
I have been working for the civil service for almost a year and am in the Alpha defined benefit pension. The Alpha scheme looks to be a decent pension from the research I have done. The question is. Should I transfer my £30,000 pension pot (old company stakeholder that I am no longer paying into) into the Alpha pension? It…
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pension split fees on divorce
Post divorce and a defined benefit pension is to be split 50/50. I am paying the trustee costs which are around £2500. Should I pay this cost out of my ISA savings or should I ask for fees to be deducted from pension value ? Thank you.
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Pension and divorce
My friend and her husband are in the middle of a divorce. They are both in their 60s and he refuses to fill in his E form. She has completed hers. He wants to give her half of the house and savings but keep his pension and salary (he still works). That is his idea of an "amicable settlement". My friends' solicitor will not…
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Just Checking re Final Salary Pension
I am a member of a final salary pension scheme that closed in November 2015. Having been made redundant from the company earlier this year (now 62) I have begun to look at my pension position in the hope of making plans of if and when I could retire. (I currently work part time and am contributing to a DC pension). Every…
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Amalgamating pensions..any hoops to jump through?
Hello All I've 3 smallish pension pots from previous employers. FriendsLife/Aviva..approx £25k transfer value. FriendsLife/Aviva..approx £2k transfer value FriendsLife Aviva..approx £45k transfer value Aegon/Retiready..approx £6k transfer value If I choose to transfer all into a SIPPS is there any regs/ criteria I need to…
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Retirement Solutions Ltd
Does anyone have any experiences with Retirement Solution Ltd? They seem quite professional over the phone and are registered with the FCA. My plan is to retire in April 2019 and am looking at Flexible Drawdown options. Many thanks
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Drawdown - Explained
Could someone please explain to me how drawdown works . I would be looking to drawdown some of a Personal pension to get me from the ages of 60 to 67 . This would be after taking 25% tax free lump sum . Does the whole pot go into drawdown even though I will not need it all ? What happens to any unused funds not needed for…
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What age to plan living to
My spreadsheet goes up to when I'm 90, not because I expect to live that long but because DW is 4 years younger. This seems to fit in with advice on here to plan finances until age 85-90. Since none of us know how long we'll live, this study may help think about what age to plan to:…
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Seem to be collecting pensions....
I currently have 4 pensions! State Pension - balance who knows! (I do have a forecast) The peoples pension via old employer - total £174.37 Smart pension via old employer - total £199.69 Scottish widows my personal pension - nice side of 10k but under 20k My question is, do I keep the peoples pension and the Smart pension…
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Defined Benefit Pension Advice please
Hi, one of my old pensions is a defined benefit pension. Everywhere I have looked/researched, says I should not transfer it. However, I no longer work for the company I had it with (I left in 2009). I wanted to transfer it into a SIPP that I have. My concern is that should I die before my wife, she will only get a small…
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Company Pension Employer Contributions
Hi, I will admit to being pretty useless when it comes to Pensions, so I apologise if this is completely stupid! With the recent contribution changes instigated by the government, I have actually found that my Monthly Pension Contributions have REDUCED each month. This has been done by my Employer without my consultation…
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works pension
Hi I'm new to the forum! I've only started thinking about pensions probably in the last 5 yrs, I was a low paid agency worker until I was about 27 so could never afford to pay into one. I'm now 36 and have two pension pots, one is from my old job and will only be about 4k and I'm not sure were my current works pension is…
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Can anybody check my very rough figures?
Hi there, I’m trying to pull together our retirement finances to form a bit of a plan. I’ve been reading this page and other early retirement pages/blogs for little while now but still don’t feel confident enough to know if we are on the right track. We are a couple with 12 and 9 year old kids. Husband works full time…
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Managing the guilt factor
I have been thinking about this and not sure there are any easy answers so would be pleased to hear the views of others. I am single and have plans to travel when I retire whilst I am young enough and fit enough to do so and envisage being away maybe 3 - 6 months or possible longer who knows. I wouldn't be averse to buying…
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PPF Annual Increase
Just had my latest estimated pension statement from the PPF for pre April 1997 service (claiming from 2023). The increase is around £67 on last year ( £4,334). Increases are based on CPI. Does that sound about right? Seems on the low side to me.
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Salary Sacrifice and company pension scheme
Hi, I am 46 and without a pension. I am single with no dependants. I joined a company in June. its a small company with just an unpaid director. I currently earn £2,500 per month. I understand that my salary now obliges the company to offer a pension and it has 3-months to implement this. The director has asked me to look…
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Is 8.2% guaranteed annuity a good deal?
My wife (age 60) has a pension with a guaranteed annuity of 8.2%. Our first thought was to take the 25% tax free and the guaranteed annuity, however a couple of years ago I transferred two pensions into a SIPP and have averaged an 11% return pa. I know we will have to pay a financial adviser to sign some form saying we…
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Starting a private pension whilst in-between jobs
Hi guys and gals, I’ve been a qualified primary school teacher for 5 years and have been teaching 3 days a week or more each year however I’ve handed in my notice in order to start a new career. I plan on supply teaching next year while I transition (hopefully!) into another job with a pension scheme. My question is…
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BT pension lack of help
Hi, I used to have access to a web portal with British Telecom to access my pension details (Think it was Accenture?). To save money BT is now doing this in house. Who can I can complain to re: I am still waiting over a month for a statement of accounts. I have also complained twice and received RITM numbers from them?…
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Pension Input Amount and 60% marginal tax rate
Hello all I would be grateful for any help on this one. I am in a DB pension scheme which has the option to make additional voluntary contributions as well. For the current year, the pension input amount for my DB scheme will be £39,000 to be tested against the annual allowance of £40,000. I have no unused annual allowance…
