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Pensions transfer - good time?
Dear all,I have an old pension scheme with a transfer value of around £15,000, which I'm thinking of transferring in to my main, work-based pension. The procedure seems pretty straightforward, but my query is about the timing. Having done some internet info searching it seems that transfer values are quite high at the…
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Shocked
Just turned 55 and thinking about early retirement so thought I would enquire about my pensions. I have a deferred pension from BAE that will pay £15900 from 60 and am currently employed with a FS pension that currently stands at about £6000 at 65 but am still paying in obviously. Don't want to work until 60 or 65 so BAE…
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Starting pension contributions at 43.
I'm looking to start pension contributions of £240p/month (net) from April (next financial year) and continue until aged 60 (17 years). It'll be a mix of Vanguard FTSE 100 tracker and my own stock picks. I transferred £8k from old pensions into this pot 8 years ago and it's increased in value to £28k. Trying to keep the…
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How to calculate TFLS when taking DB pension early
Hi, I have a DB pension that comprises a annual payment, lump sum and associates AVCs I am trying to work out the Pension Value as far as TFLS is concerned if taking before the NRA for the scheme.. Obviously the AVC and Lump sum are fairly easy as their values are clearly defined. Regarding the DB value - the value is 20…
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Potential double IHT on gifts?
Suppose that Alan has an estate worth £525,00 and that his (unrelated)
friend Bob has an estate worth £325,000. Then Alan's estate has an IHT liability of £80,000
and Bob's an IHT liability of £0. Alan now gives
£100,000 to Bob, no strings attached. Unfortunately, very soon afterwards there is a tragic RTA in
which both…
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Multi-Drawdown on SIPP Pension Fund?
Hi all. I am just about to start drawing on my pension funds shortly. I
have a SIPP fund with some additional ISAs that I have built up over the years.
It’s always difficult to find answers to specific queries, so I thought I’d
post here, as you seem to be experts! I would like to initially have around 12.5% of my tax free…
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Delay pension? Just cant make my mind up
I am 60 at the end of March. My superannuation pension is due to pay from then.. I have a fairly serious chest condition .. bronchiectasis, but currently manage ok in work as an electrician.... My question is.... Should I delay the payment of my pension for several years? My concern is that if, during the next 6 years,…
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LGPS - Transferring DC pension pot into the LGPS
I am thinking about leaving my present job with a private employer to join my Local Authority. I have built up a considerable pot in my current DC scheme and am considering transferring this to buy me LGPS pension if I joined the LA. I was wondering if there is a limit to either the size of the pot that can be transferred,…
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Trading US ETFs in a SIPP
Finally succeeded in opening Jarvis SIPP with an account provided by X-O.co.uk Noticed they allow you to buy US traded USD ETFs, such as VTI (which they seem to give access to under symbol VTI.XXX). Can these be traded in a cost efficient manner? NYSE gives a lot more options and they are a bit cheaper... I am just not…
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NI contributions gap!
I did a PPI tax refund claim thingy today via HMRC online and then innocently clicked on a link for my NI contributions and state pension forecast. I was horrified to see that I had a gap of 7 years that I cannot close now because it's been more than 6 years. However this gap was during my time at uni when I studying for…
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National Insurance calculation after 52 weeks exemption ends mid month
I have searched for this online and just cannot find an answer to my situation. I arrived in the UK on a Tier 2 ICT visa on January 27th, 2019. I am paid on a monthly basis at the end of each month. As I was eligible for exemption from National Insurance contributions for a period of 52 weeks, my employer did not deduct…
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Pension Panic - Very late starter - Help!
Hi all, I've never really contributed to any pension schemes in the past and am starting to panic that I am totally unprepared for the future. I have two kids, mortgage and am the only income in my household, so have been opting out for years in a bid to try and keep us out of the overdraft at the end of each month. Is…
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Pension Carry Forward
I have read previous threads on this but i am still not comfortable that I understand for our particular circumstances. My wife is self employed and makes a small profit of around 9K per year. She started a SIPP a couple of years ago and has been paying in most of this profit (subject to the relevant tax relief). This…
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State Pension forecast & NI contributions
Hello, I am a little bewildered that after paying NI contributions for 42 years & serving 22 years in the RAF, that I have been asked to 'top up my contributions' to receive a FULL State Pension. I believe you only need 30 years NI contributions. But they are asking for over £2,000 to make it so I receive the full pension .
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Using NEST pension as an investment and to reduce tax. A better bet than an ISA?
I have an NHS Pension of 31K per year. I also work part time and earn 30K per year from that. I have a NEST pension with my job. If I paid an extra 10K into NEST I would get 20% added by the Government. If I then ask HMRC for tax relief up to the 40% level I would pay less tax. If I finish work in 18 months time I want to…
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Pension Newbie - is my auto-enrollment going to be enough? Future proofing
Hi All, I've been working since I left university in 2015 but have only recently started thinking about the future and my pension etc. I'm currently on auto-enrollment with my employer - I put in 8% they put in 12% meaning my monthly contributions are £816. I'm 27, hoping to semi retire at 55 (I'd like to go to part-time…
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How does the transfer from the pension provider / pot to the annuity insurance work?
Hi, My parents have done all of the leg work and want to buy an annuity insurance they are just not sure on the procedure on how it all works / flows. Do they go to the annuity insurance provider and they then the insurer does all the leg work with the pension provider to make sure the pot is transferred securely? They are…
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Sipp in drawdown so can I contribute £2880 or £4000
I am drawing down on my SIPP at present, what can I contribute annually Is it £2880 or £4000? When I get to 60 and start receiving my teachers pension how much will I be able to contribute? Thanks all
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LGPS ill health pension CETV
Hi all, first post so bare with me. Does anyone here have any experience of calculating a cetv for an lgps pension when the person has been awarded an ill health pension? Going through a divorce and worried about my only income. Thanks
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Annuity or cash
Should I take all my personal pension as cash as annuity rates are so poor?
