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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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NHS salary sacrifice into pension
Morning! Does anyone know if it is true that it is not possible to pay more money into an NHS pension out of your gross salary to reduce tax burden (as I am only a few hundred £ into 40% tax and am subsequently losing more than this in the tax on my savings interest), payroll have said this is universally not possible in…
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Whats a good amount per year to have a decent pension
Hey All, Just joined the forum and have some questions. For the last 6 years from finishing university decided to go contracting in the construction industry. This was a decision I made to build up enough money to buy a home, which I have just done last month. However, now the company I work for took me on as a employee…
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pension pot access
Hi, i have 5 pensions and i am 55 next year, 2 of them are small ones, i wanted to get access to the whole pot on one, but the company has told me they can't do that but i could transfer it to something that would give me that option? what would that be? i was hoping to buy a motorhome next year thinking i would ask for a…
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Retirement Planning for a 30 year old
Hi, I've been a long term lurker on these boards and would love some specific advice from the wealth of experts on here. I'm 30 years old and recently started taking my retirement planning and wider investing seriously. I earn 60k a year and currently have the following assets built up: Company Pension: 35k S+S ISA: 23k…
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Class 3 NI credits
I have question about Class 3 NI credits: I understand that if someone is claiming for child benefit, they get Class 3 NI credits. However if a couple are getting enough income to get a qualifying year (both individually) anyways, what is the purpose of these Class 3 NI credits? Also what would happen in following…
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Tax efficiency on pension by living abroad
I have transferred my Final salary pension out of the company and into a wealth fund (having taken all the right advice). It's a large amount. I am working part time now so don't need the money at the moment. I've worked and lived abroad a few times in my career so am considering doing this at the point that I start…
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Need advice to help out my parents
Hi there My parents (68 and 77) currently live mortgage free in the north but as they get older, I want to move them to London to be closer to me, my sister and their grandchildren. In order to maintain their living standards, we would need to spend more on an equivalent home in London. My sister and I want to support them…
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LGPS and is Transfer right for me.
Hello All, first time poster. I have a relatively small LGPS with a transfer value of £44,470 and no other pensions. I am male, 56 in October, single, no dependants. I have a remaining mortgage of today £21,617 with 5yrs 7mths left. Mortgage payment is £350/mth and £35/mth life assurance. I read that best advice is to…
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SIPPs which offer access to cash deposit accounts
Are there any SIPPs which offer access to cash savings accounts which are accessible without going through an IFA? Having read a few old articles on this it would appear that you need a 'Full SIPP'. I want to move my HL SIPP into cash for two years and the rates available from HL are not competitive in comparison to what…
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Parent problems
I'm not sure which forum this best fits but this seems like the closest fit. I'm hoping someone can help give me some advice as my parents are seriously stressing me and my siblings out in terms of what to do with them. My dad is in his 70s and my mum mid 60s. They should both be retired but keep saying they don't have…
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USS Transfer Value?
Does anyone know if there is a quick way to calculate the likely transfer value of an old USS pension please? Right now it's merely curiosity having spent years paying into my pension with various employers without giving it too much though. Age creeps up on us all though and I find myself wondering how I'd go about…
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Property v pension
I'm wondering if its worth buying a small property, 150k tops in cash, not far from where I live. I realise there is tax and stamp duty etc so maybe that would be too prohibitive? Or should I keep my small pension and other savings?
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Lgps Avc
The Op has been paying £1000/ month into a pru Avc, through her local gov pension. We assumed it would only cost her £800 after tax relief. However it seems that all that has happened is that she no longer pays any tax, which on her £1550 monthly salary is only around £90. She has checked with HR dept and this is correct!…
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Ex Navy pension - Sun Life Financial of Canada
I'm trying to help a friend sort out her financial affairs. She was in the Navy, and seems to have 2 personal pensions from that time. (I guess she must have transferred out, which was probably a bad idea) The pension policies are with Sun Life Financial of Canada. She gets annual statements, although did not have the…
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Foster carer wishing to start pension
I am a foster carer earning around £15-20,000 a year. I wish to start a pension. I pay no income tax due to the special tax arrangements for foster carers. Is £3600 the maximum amount I can contribute? Thanks
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Sigh. CPS's Michael Johnson's pre-budget pension reform calls. Again.
Right on schedule to stoke pre-budget speculations to the maximum, Michael Johnson of the CPS is back on his regular hobby-horse: As is by now traditional, the report is full of half-truths and cherry-picked numbers designed to flatter the author's biases. For example, concluding that pensions are unpopular because only…
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NHS Pension
My wife receives a small NHS pension. The quick question is - is the sum paid into her bank before or after tax ? Many thanks Andy
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SIPP vs ISA vs Workplace Pension
Greetings, I am 48 and have several investments - nothing large unfortunately. SIPP (Fidelity): £35k ISA -stocks & shares (Fidelity): £36k Pension (Aviva): £10k A few other private investments...and some cash saving I've just started working for a new employer and opted in to their group plan which will be 5% personal + 2%…
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Public sector transfers not being counted as pensionable service
In 2002 despite being only on short term contract transferred in 8 years of pension from NHS to another public sector club member. Left employer after two years thinking I had deferred benefits and could claim pension at 60. I only left because contract was nearly up and I was offered another job. Then got notice that…
