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Deferred GMP only pension and early retirement
I have a deferred, GMP only pension relating to 2 years service at the Gas Board from 1982-84, amounting to around £42 per week, payable at age 65. When I left the Gas Board, I took a refund of contributions but this GMP only pension remained in place for the next 35 years and they've just told me about it. I was…
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Annual State Pension Income
My HMRC online account is showing (what I consider) an incorrect figure for my SP income. It would appear that DWP are informing HMRC of my SP as the current rate for 19-20 tax year X 52. However, the first amount I actually received on 10th April 20 is based on last year's rate, so according to my calculation, total SP…
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Pension fund fees?
I'm currently paying the above fees on a pension pot of £360k They seem quite high can anyone advise? as below Thank you Nick Annual Charge 0.25% Intermediary 1.09% Investment charges 1.00% Total annual charges for 2018 on a £360k fund = £9,074
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Aegon Pension to Cavandish SIPP
Hi guys, A question, I'm looking at moving my Aegon Pension through to a Cavandish online SIPP. Mostly due to having the last 18 years to go to retirmement, having more time to study options, and finally because I've become used to managing my ISA investments its makes sense to lower the charges and gain the flexibility.…
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Transfer of a section 32 worth £33k
Advice on advice needed! My wife has a GMP with Clerical Medical worth £1374 per annum most of which is level. The CETV is ££33k. We are obliged to take financial advice. I want to move the £33k to my wife’s SIPP with fidelity - we have security of income with my final salary pension and other investments and I am…
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GMP rules
Situation - I have a few pension cash pots - I would like to consolidate one of them to another, but this has a GMP cash figure of 25K (pot is about 80K) and told not allowed to do this without taking advice - sort of understand that although that seems far more important for DB schemes rather than cash amounts. The NRD on…
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Should I wait a while before going into drawdown?
I’d all but decided to pull my pension and go into drawdown with HL, now with the problems at Woodford I’m starting to think this may not be the best time to jump ship (pension is with the Pru) Best to wait and see or am I being to nervous?
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Benificiary/executor problem please
( Moderator please move if required ) Hello. Could anyone please offer advice or hints on the following matter? I am a pensioner, 67 years old but still fit and active. However, as a result of recent events, I now find myself in the situation that I no longer have any benificiary for my will and nor do I have anyone whom I…
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Does UFPLS count as PCLS for recycling rule
Does the 25% tax-free portion of a UFPLS withdrawal count as PCLS for recycling rules? If I crystallise and enter drawdown will any 25% tax-free portion count as PCLS for recycling rules?
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Savings options for pension lump sum
I have recently retired and am considering how I want to use the lump sum part of my pension. I would like to put the money somewhere that attracts some interest whilst I decide. What are the best current options for larger amounts?
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Pension company transferred leftover SIPP cash to Charity.
I was slightly surprised my pension company decided to transfer the residual £15 after my SIPP transfer to a charity without permission. The only communication I received was a statement entry. I don't believe there are ongoing charges for cash held and there is every possibility I might still use the account in future.…
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Understanding gaps in nat ins. record and COPE and forecast etc etc etc
Hi Prompted by the "check your records" post I had a look online at my records to find the following: I am 39 (40 later this year) I turned 16 in 1995 and left highschool in 1996 I was in college 1996-1998 Then university 1998-2004 Finished uni in 2004 and been full time employed without break since My nat ins. record is…
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Retirement Plan Evaluation
Hi All, My wife and I have only really taken an interest in our retirement plans over the last couple of years so we’re still trying to educate ourselves on pension and investment fundamentals. We’ve made some basic plans below but frankly our estimations are based on blog posts or articles we have read so I’m not sure if…
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Ltd Company Pension Contributions with one eye on retirement
I'm 50 and currently pay £30k pa into my private pension via my Ltd Company. The pot is around £300k now and I do have some minimal DB incomes to come in from 60 / 65 etc. We do have ISA etc. also but this isn't particularly the point of this post. Assuming I only need £15k pa to actually live on and with thoughts about…
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Reconciling COPE to contracted out periods and GMP
I'm 62. My state pension forecast shows a COPE figure of about £88 per week = £4,600 pa. I'm now trying to reconcile that to when I may have been contracted out and what GMP I can expect to receive when I'm 65. Is there anyway of finding out which years I was contracted out? Over the years I was a member of 9 company…
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When to stop paying in...? (LTA etc)
I am fairly financially savvy. I am 43 so i make it that i have another 14 years to go until i am entitled to retire. My current pension value is around £340k. If this grows at 5% for the next 14 years, it will be worth about £640k If this grows at about 7% for the next 14 years it will be worth about £850k I am not saying…
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Lifetime allowance
Is having a dc pot close to the LTA really a big issue?If I take a drawdown pension, withdraw say 30k pa ,but the pension grows by 35k exceeding the LTA limit by 5k, I pay tax at 25% on the amount above the LTA, leaving me with more than I started with by 4k? I then take out the 30k again and repeat. I know this sound…
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LGPS to NHS Pension Transfer Advice
Looking for some advice on behalf of my partner who has paid a Local Government Pension Scheme (LGPS) between approximately 2014 - 2018. She is now paying into an NHS pension scheme and has started the process of transferring her LGPS with a transfer value of £11,844.99 with a Club earned pension credit £2,059.26. How do…
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Vanguard sipp
Is it just me or is this taking a very long time? Anyone got any idea of when it will be out? Also, does anyone think they'll make a lisa?
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How protected is a fundsnetwork pension?!
Hi. I have a fundsnetwork pension provided through Cavendish/Fidelity. I’m 33 and currently have about £110k in there. I’ve read a lot of information about the fact that pensions are covered up to £85k? Now I’m slightly concerned as if I contribute as I have been for the next 20 or so years I will have near enough…
