Pensions, annuities & retirement planning

Archives for August 2018

Delayed and missing pension payments, what can I do?
Hello everyone, I’m in a company with several hundred employees. Back in April my employer moved to a different HR/Payroll system. Since then pension contributions have been taken off our pay correctly but 3 of the payments have been late going into our pension accounts and 3 haven’t been paid at all. My employer didn’t…
Some help and info on Canada Life Pension and charges
I will admit upfront I know very little about Pensions. My husband took out a private pension with Canada Life on the advice of his IFA approximately 21 years ago. It was a Canada Life Series 4 Pensions fund and it was invested into the Canlife Multiple Investment fund. He started off paying quite small amounts in to the…
Frozen Pension. What to DO?
Hi, I have a frozen with profits pension with prudential. The current transfer value is almost £20k. I am 52 and also have a final salary pension with my current employer. I am not sure whether I can transfer into my current final salary pension or not but I will find out. I am wondering if I should just leave the frozen…
Company Pension with Aviva- Fund Choice
I’ve just started a new job and the company pension is with Aviva and the default is for it to be invested in the Aviva Mixed Investments Annuity Lifestyle approach which starts with 100% in Aviva Mixed 40-85% Shares S6. How do I judge if this is an appropriate fund for me, and also how do I then decide which of the…
State pension NI years
Looking at my pension NI history on the gov site: I have 34 years of Full contributions. Does that include the current year? Not a problem as I will end up with over 35 years. From the year breakdown it has 33 years full. Then 17 weeks of NI credits over 2 years I suspect that is when I signed on as unemployed long ago…
preparing retirement sipp for phased drawdown
Need some thoughts on others in getting my sipp in shape for phased , multi stage drawdown until DB scheme (in 4 years) and SP (in 7 years). The idea being the DC pots (two, current work sipp plus old serps aviva with profits) permit retirement in TWO years time. Current SIPP is c. £150k (Aviva £40k but will leave as is).…
Former Protected Rights
Looking for simple advice please, I have a Prudential Pension and just received my statement. i have two amounts one Quote "excluding Former protected rights " and one Quote "Former protected rights" The Former one being considerably less which one do I get ?? what does it simply mean thanks
Financially Depedent
Hello, I am an executor for my late father who left a pensions policy with no will, however they asked me if I was financially dependent on my father I said no does that mean me or my mother will be denied the proceeds of the pension? Thanks.
NHS Pension - Total Rewards Statement
Is anyone able to view their NHS Pension Statement on the total rewards site at the moment. My wife used to be able to see hers, but is unable to at the moment and just gets an unable to view message and was wondering if this is due to them updating the statements for this year or if it is a problem specific to her…
Ill Health Retirement and PILON
Hi, hope there is someone out there who can help me... I was a civil servant of 28 years and have been finished on Ill Health Grounds (Upper Tier). I was advised in May that I qualified for 3 months PILON as I have done a minimum 10 years service and my official end date would be the 27/08/2018. I have now just been…
Personal Pension compared to SIPP
Taken the plunge for my first post ! I have four DC personal pensions , with one still active. As I start seeing retirement getting a bit closer I had a good look around as to options about combining them /what to plan to do with them. All the trend seems to be you must go for a low cost SIPP, even if you are not a hyper…
41 and want to take my contribution to personal pension
Hi, I can't find this anywhere so I'm posting it here seeking help. I have a personal pension it was taken over by Aviva can't remember who it was opened by. My employer and myself paid into it, I got made redundant about 3 years ago, the pension is now closed as I couldn't afford to pay in what I was when working (think…
Dipping into pension pot to pay off credit card debt.
Firstly, apologies if this is the wrong section for this question. However, here goes... Is it a good idea to dip into my private pension pot to pay off the outstanding balance on my one and only credit card? My bank (RBS) are now asking me to pay a higher percentage 2.5%, plus interest and fees. I don’t have a savings…
Trying to understand LGPS Annual Benefit Illustration
I’ve just received my LGPS Annual Benefit Illustration and am trying to understand it (like many others I would imagine) in order to plan towards the future. I know there are some LGPS experts on here and I’d appreciate a bit of help to see if I have got the gist of it. In an ideal world I’d like to retire at 60 which…
State pensiob
I get my state pension in sept my birthday is on the 10th when I phoned up to claim it theytold me my payday was Tuesday and I would get 2 days payment on 11th sept then every 4 weeks. Is your weekly pension divided by 5days or 7 and can you be paid weekly or fortnightly if you want thanks
Tapered Annual Allowance
I have a question regarding the reduction in Pension Contributions where threshold income is above £110k and adjusted income over £150k. The rules say that salary sacrifice arrangements made prior to July 2015 do not have to be included in the threshold income figure. Does this mean that if you have increased your SS…
semi-retired at last!
After much deliberation and investigating the various options available I recently took the plunge and transferred my old style DC pension pot to where I can start drawing down from it. I'm still working, but now only 3 days per week, and using the other days to hatch the next part of the plan - no days per week! Many…
Can you lose state pension?
Looking for some help with a question,i am 68 years old,was 65 in 2015 and took 12 months state pension as a lump sum then re-defered my state pension. My wife asked me what happenes if something happens to me,i assume she means if i suddenly snuff it:rotfl:,i told her i cannot lose my state pension and she would "inherit…
How does compound interest work with index trackers?
I've been trying to educate myself a little about investing and one common theme is the "miracle of compound interest" ie earning interest on your interest. I suppose with equities that means re-investing your share dividends. I've started paying a modest amount into Vanguard's lifestrategy 80/20 fund via an ISA. Would…
IFA charge
Hello I have finally got around to sorting out a personal pension, (about 30 years too late….). I went to see an IFA for a free consultation and he is going to look at my options and arrange another meeting. His charge would be 1% of my total fund to manage my pension. There are no upfront fees or any other fees. I was…

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