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Is it possible to transfer out of a Civil Service Pension accrued between 1987 and 1995?
With my 55th birthday just a few months away, I find myself in the slightly unusual position of having zero equity, yet two pensions collectively worth £8K / annum from age 60 and a SIPP worth 500k, which I intend to sensibly draw down from next year. This has historically grown by an average of 7% over the past seven…
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Low-cost SIPP provider who will accept AVC transfer without positive IFA advice.
I have a deferred DB company pension scheme due to come into payment at my NRA of 60 early next year with an annual pension of approximately £15,000. I also built up a separate AVC pot with the same employer currently valued at around £300,000. The scheme administrators Willis Towers Watson have given me the option to…
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How to get an easy pay rise... plus other tips to boost your pension for FREE
Pensions don't have to be boring, maybe we just need to think about them in a different way. In the more than 20 years I've been writing about pensions, I've heard them described as dull, complex and a rip-off. But what if I told you that having a workplace pension can amount to an easy pay rise? And that there are ways to…
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Health Insurance
Just trawling these threads, & nothing super-recent springs up! Run across http://www.rowleyturton.com/blog-post/private-medical-insurance-when-you-retire-do-you-need-it (TL/DR = "yes you do!") Just wondering what folk here are planning for health insurance (if any!) on retirement. Looks like a pretty good way to pass…
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Pensions Age Discrimination Case
I’ve recently become aware of the Judges/Fire Service Pensions Court of Appeal ruling and am confused about the potential impact to others in Civil Service pension schemes. If the Govt don’t get leave to appeal, could the outcome potentially mean ALL those who were previously in the ‘Classic’ scheme were discriminated…
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Ongoing IFA Charge & Fees
Hi I have engaged an IFA to look at my personal pensions and I am reviewing their recommendations. Regarding charges, initial fees to move my pensions and my wife's PPP's to a SIPP is £3K and 0.5%+vat ongoing. Is this about industry average? S
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FAO recent BT pension drawers with added years
Hi, I just received my pack from BTpensions and have a query that I thought I would check on here before ringing them. In the "Your retirement statement booklet" on the last page entitled "About you" it lists all your relevant details. In the last part called "This includes" it lists "Added years" and has mine as 0 years 0…
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Not being given pay rise
Apologies first of all as I could not see a forum category to post this in, so if there is a better one please let me know and I will move to there :-) I have been part of a very small limited company (10 staff) from the very beginning for over 10 years. The boss is refusing to give me a pay rise but I feel he is hoarding…
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Is this legal?!
My employer has calculated pension contributions based on total earnings since auto-enrolment began, but had recently realised the scheme rules state that the definition of qualifying earnings is in line with the statutory minimum and has changed the calculation. Can they do this or is there an obligation to pay based on…
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Cfiresim - Withdrawal Analysis
Probably a really basic question but... I've added my SIPP, DB and SP figures to Cfiresim which suggests there is a 95.80% success rate or meeting my drawdown/income aspirations, and wonder if anybody can advise what the columns and rows mean in the Withdrawal Analysis table? (sorry table does not display very well!)…
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Small Annuity - Index linked on not index linked.
If you had to make a choice, which would you choose from the following (1) and (2) and why? (1) Annuity per year £1,333.44 This lifetime annuity will provide a pension for the rest of your life with an annual increase in line with the Retail Price Index. In addition, on your death, your surviving spouse or registered civil…
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SIPP Provider / Platform
Hi, So I'm thinking about starting a SIPP after my last thread, I have a high risk profile I would say, initially at least i'd be looking to purchase individual shares, AIM and FTSE etc. I'd probably move to safer investments over time. Which platform is the best for this type of investing? I use HL for my ISA but charges…
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Advice re life insurance & pensions in Italian...?
Hello forum, I was talking to my cleaner this morning. She was asking me about life insurance, pensions, general planning etc. She’s been in the UK for about 5 years and likely to stay for the fairly long term. She is Italian. Her English is ok but not great. I’ve got a decent understanding of this stuff but it would be…
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GMP removed from pension
Just had some really disappointing news. I had a small pension from a long ago employment which I could have taken when I was 60. This was quoted as including an annual GMP amount. Anyway, as I was still working I decided to defer the pension and was informed that it would increment at 8% per annum. This year (aged 63) I…
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The plan and the numbers - please critique
Hi All Appreciate if the knowledgeable and experienced members of this forum could please check some of my calcs and assumptions stated below – this is ‘my numbers’ in planning for retirement. I’ve built a spreadsheet with all this stuff in and want to test if assumptions and calculations plus the plan in general passes…
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Would I Need To TakeTransfer Advice?
I am hoping to retire early next year age 59, if markets are stable I am expecting to have DC pensions & S&S ISA's totaling £390k from which I plan to drawdown 2.7%+inflation. Unfortunately £120K of the pot is in a Prudential With Profits DC pension which doesn't allow drawdown. This pension has a guaranteed bonus rate of…
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Best pension for self employed
Hi, just wondered if anyone can help!! I’m self employed and wondering weather To get a pension (if so which 1 is best for me) Or get a lifetime isa!!?? Thanks in advance Glen
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NI Contributions
I have read that to qualify for the full state pension you need to have at least 35 years of full contributions. I have 38 years full contributions and am 10 years from retirement. If I pay a further 10 years contributions do I get a bigger weekly state pension? I understood the max to be £168 per week? If not, why does…
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SIPP Transfer Neil Woodford Equity Income
Hi, having taken advice from an IFA, I am transferring various pension pots into a single provider. One of these pots is a small SIPP. Approximately 25% of this pot is invested in Neil Woodfords Equity Income fund. As you may be aware this fund has been suspended from trading, initially for 28 days but could be longer.…
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This Year's Most Stupid Idea So far?
https://www.bbc.com/news/uk-politics-48506460 Trade part of your pension to get on the housing ladder. I can't believe anybody would come up with such a plan.
