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Pensions, annuities & retirement planning

Archives for February 2020

Boosting chances of early retirement - SIPP best vehicle?
Hi all, Just looking for a bit of validation of my thoughts around this, or for anyone's experiences to guide me down other routes I might not have considered. Our Scenario: We have just come into the very fortunate position of being able to pay off our mortgage, and this has prompted a reassessment of what our plans are…
Pension\ISA's and HMRC retirement allowances
Hi all Just wondering what is the better way of managing the allowances that me and my partner have. I am in the higher income tax bracket and my partner is not. We are both 39 and I am currently making the most of saving into my Stocks and Shares ISA and my work place pension which offer a 4% match, total I am putting in…
2 Pensions
I have a very simply question I am 55 no longer working and have 2 pensions one worth £125k and one £199k one is a personal pension and one a company pension. Can I transfer the company pension into my personal pension and then draw a tax free lump sum of 25% of the whole sum giving me around £80k. I dont want to draw a…
Premier Pensions /Premier Companies Problems
Has anyone else dealt with the above pension platform?.Iv moved a lot of pensions in my time moving from company to company into my SIPP,but these guys are the worst iv ever dealt with.They take weeks to reply to simple emails,ignore instructions to transfer into cash,ignore the messages from the new scheme etc.They send…
coronavirus and personal pensions
How long is a piece of string question . But what impact is this going to have on a personal private pension in short and long term ?
Added Pension and EPA for Civil Service Alpha Pension
Hi I am trying to plan for my retirement (30 years off) and am taking stock of what I have and what i could do to increase my chances of retiring early with a decent amount of income. I have 10 years of Premium Scheme (which stopped back in 2015) and then I am continuing in the Alpha scheme. Having read the information and…
ii cash held in trading account
Hypothetical scenario: I transfer £250,000 into an ii trading account (all within a non-ii sipp). Assuming this is not invested, protection wise ii states the following: 'Any money (cash) held in your account is treated as ‘client money’ as defined by the FCA. This means your money also has trust status, and is deposited…
Frozen pension
Hi I have a frozen pension at work. They are now offering an enhanced rate to move this pension. I am wanting to take 25% out this pot tax free and move the existing pot. I want to know can I move the remaining balance of the frozen pension. To a pension I already have in place. Or what is the best advice to take Regards…
What is the maximum I can pay into my pension
Good morning. I'm selling my house so will have some funds soon and looking to top up my SIPP's. I understand that the maximum that I can pay into a pension is £40k. Does that equate to £30k by me and with the 25% I get from the government I get £10k, giving a total of £40k Is this correct as I understand it? Thank you
Expression Of Wish & Beneficiaries
I’m looking for some advice. My father passed away a month or so ago and my sister and I are currently dealing with his estate. We were contacted by his employer who said he had a workplace pension and also a separate death in service benefit. They told us that my father had put down my sister and I as beneficiaries to…
When do you need a financial advisor?
Do you need FA before you can take 25% tax free money out of a Stakeholder pension pot over £30,000? I am aware you need it if you wish to transfer a DB pension
Invest more into a works pension or save?
I know this may seem a 'no-brainer' but thought I'd check with the experts here. My wife is hoping to retire in 8 years time and has had no works pension until last year when she joined the Civil Service Partnership Pension, a Def Contribution scheme with L&G being the provider. The pension pot is increasing nicely as CS…
Should transfer my pension schemes into my LGPS ?
I have just joined a LGPScheme as a result of signing a contract with a local school as a relief Exam Invigilator... I have 5 pension schemes from previous employment and 2 private pension schemes. I hear that LGPSchemes are good, therefore should I consider transferring all my other schemes into this new one?
SIPP Transfer & Market Volatility
Forgive my ignorance, I already think I know the answer to this one but just want to double check... With the recent market volatility at the moment, does it make a difference to me if I am in the middle of a SIPP transfer application from HL to Vanguard?? I think the answer is NO because even though my current investments…
Civil Service pension - error in calculation and repayment sought
A friend is in a bit of distress. She retired from the Civil Service about six years ago and she is now being told that the pension calculation was wrong. She is being asked to repay the excess, which accrued over some years comes to a considerable sum. She also doesn't agree with the figures, which she believed to be…
I missed the transfer deadline on my pension...
After I started a new job I missed the transfer deadline for moving my contributions from old pension scheme to the one at my new job. Am I better off setting up an ISA for my lump sum or transferring it to my new pension scheme?
DB Pension Funds - What happens as the pensioners die off?
I have a DB pension from an old employment in the 80s. The company no longer exists but the pension fund seems properly managed by the trustees and seems perfectly adequate to provide for the pensions being paid and the deferred liability (as far as I can tell from the annual reports).I also have a personal pension pot,…
Mitigating Pension transfer timing issues.
In the next six months or so I will be transferring 2/3 of my work DC pot to (probably) a Halifax SIPP to allow me to start drawdown from next January (when I’m 55). This pot is currently 90% in a mutli asset fund (similar to VLS60). I will be investing in 70% HSBC Global Strategy Balanced, 20% Cash, 10% Small…
Confidence on when to "go"
I will 57 next month and I am not sure if I have the stamina to keep going to my planned retirement age of 60. Currently I have £660k in two funds and am contributing about £26k per annum. My forecast calculations suggest this could give a total pot of about £800-826k in 3 years. I have shareholdings which already exceed…
paying extra int works pension
if employer doubles the employee contributions up to a limit of employee 8% and employer 16% , is it worth still paying in more than that or should any other money you can afford be better off put into a savings account/ISA ? thanks, mick

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