-
226 pension age with Aviva
After trying to draw out my small 226 pension pot with Aviva (see my other thread), i finally got the letter i requested, today in the post which i asked for at the start of August. It reads ' Aviva has made a business decision to keep the minimum retirement age for section 226 policies as age 60'. So can this business…
-
does my pension plan have any flaws ?
ok here goes . im 56 and want to retire when iam 63 . this is my plan at 63 i will have approx 150000 in a personal pension i will also have approx 25000 in a workplace pension at 63 can i take 12000 or what ever the tax fresh hold is 64 the same again more or less wiping it out at 65 take the 25 percent tax free out of my…
-
Pension Payment
Pension now due but a very reputable company with whom I have my pension tell me that they have sent my stage 2 letter twice now with neither arriving despite many calls. This is the letter supposedly before they pay out and wondered if anyone else has experienced the same thing recently as they say they are experiencing…
-
Transfer DB pensions to private pension?
I have 3 defined benefit pensions from previous jobs. Contributions were small and I only worked at these companies for a few years each. With the rise in transfer values I asked each for current status + a transfer value. Below are some rough details: Pension 1 - Current annual value = £420 (compulsory lump sum £1260).…
-
IHT - IFA Review
Following printing and reading the excellent MSE arcicle on Inheritance Tax (IHT) we decided to follow approach recommended in the article and booked a free 30-60min IHT review with one of the local IFAs. I'm slightly concerned that the IFA (via the pre-meeting forms sent through) wants to undertake a full review of all…
-
Fathers Pension Savings Policy
Hello, I got a pension savings pack from my father now passed away for a large sum. The policy seems legit with a policy number, its a defined contribution policy and it has payable before death of pension age. I thought the lawyer dealt with all his affairs turns out he didn't. So, what does the law say on pension savings…
-
Driven mad, cant find my pension
Newbie looking for help! I worked for Aol uk around 2000 and built up a decent pension. In various house moves i managed to lose my pension documents and now im having a nightmare tracing it. Things arent helped by aol getting taken over by carphone warehouse around 2006. God knows where my pension went from there. I have…
-
Paying Extra into NEST Pension?
Hi - looking for some advice...I have a NEST pension with my job (been in the job a year, only has £500ish in) and an Aegon SIPP from an old job (again less than £1k in). I’ve recently become more focused on saving for retirement and pay 12% into my NEST, employer pays the min 2%. My question is – should I be paying this…
-
Anyone know about this fund?
After quite a bit of research and loads of help on this forum I am now at a point where I have found an IFA I am happy with to proceed with the transfer of my Final Salary pension into a private arrangement. The fund he is recommending is Royal London Governed Portfolio 5 It seems to fit my risk profile, have an historical…
-
Inheriting a SIPP - tax and LTA
I understand that when someone dies aged under 75 the beneficiaries can take the entire contents of a SIPP as a tax free lump sum, assuming that the deceased was below their lifetime allowance on death. I have a couple of questions on tax if the beneficiary leaves the pension invested in a draw down scheme. Can income be…
-
Defined Contribution Plan, transfer out to SIPP?
I have a Defined Contribution Plan pot which currently is about £16k. No more payments are being made into it as I have joined the Defined Benefit Cash Balance Scheme. I was told I can't move the DCP to my current DBCBS so it just sits there. I want to know if there is away to move the money from the DCP to something like…
-
Best idea... Santander123 or previous employers legal and General scheme
I already receive a pension and don't work now but I have an ex employers auto enrolment pension with Legal and General ... called 'Default Lifestyle( including Multi Asset) strategy'. Strange name. Question, continue to pay into this... which will be until Feb 2021 as they have a nominated age or pay into Santander 123…
-
Pension carry forward rules (SIPP)
I had a read here but was unclear about a few things; https://www.hl.co.uk/pensions/sipp/pension-carry-forward Consider this scenario.. A person wishes to manage their tax liability for the tax year 2017/18. They are employed and pay into a company pension scheme. In the tax year 2017/18 the only pension contributions made…
-
SIPP pensions statement question
Have just received my SIPP Annual Review, the first from my new provider. It sates that part of my SIPP is a Non-Income Withdrawal fund (funds not providing pension benefits) which is a surprise as I have held a the SIPP for 20 years and have never seen this stated before. I had assumed, wrongly it seems, that all SIPP…
-
Child benefit threshold / increasing pension contributions
Hi I am a high rate taxpayer, looking at increasing my pension contributions, not only to benefit myself and my family when I eventually draw my pension, but also to reduce my net income to below the threshold so that I am still eligible to claim child benefit. We are married with one child. What I am trying to establish…
-
Pension Contribution
I understand that i can contribute 100% of my salary to a pension. If say i earn £10,000 gross and contribute this full amount, does that mean i will get the 20% government contribution, £2000, added to this amount?
-
S32 - LTA Valuation
I would appreciate the forum's help as I'm struggling with this and can't find anything specific on the web. Mr DQ has an old (1988) S32 buyout (Aviva ex Norwich Union). No annual bonuses have been applied since 2001. The final bonus is unknown/not guaranteed but, using 1988 policies maturing this year, the value at policy…
-
Pension help
Hi there, looking for some advice on what I should do about my pension. I'm currently paying nearly £300 a month in to my pension. I'm 26 and I work for the NHS so I know they are one of the best for pensions but I'm wondering if I will be better off coming out of a pension and saving that £300 a month in a high interest…
-
Tax and taking SIPP if living in channel islands
Hello, I’ve seen some similar posts about Canada I think. If I move to the Channel Islands to work I understand I still retain a personal allowance in the uk. Does that mean if I draw down a SIPP into my uk bank account that I will pay no tax on £11850 drawn (eg .taking £950 per month). Is thee a double tax agreement to…
-
IFA changing company...
Hi, I'm hoping someone can help. I've received a letter from my IFA saying that he has "moved to an associated financial advisory firm xxxx, which is an appointed representative of yyyyy (formally zzzzz)" where zzzz is the IFA/company I originally signed up with. He's asking me to provide written confirmation that I'm…
