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vanguard sipp - clueless advise please
A bit about me. I am 55. Most savings [which aren't a lot] are in a cash ISA, a couple of regular savers and a Santander 123 recently downgraded to Santander lite] I was happy with this set up til relatively recently when all rates plummeted. Have LGPS pension but only been in it 8 years so is worth very little and at my…
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Does the FSCS bank guarantee limit of £85,000 apply to cash held within a SIPP?
Suppose that I have a Stocks and Shares SIPP with platform provider A who deposits client monies with banking group B. I have no exposure to B other than the cash held in my SIPP with A. My question: Is it is unduly risky to hold more than £85,000 cash within the SIPP? This is now particularly relevant as the stock market…
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Defined Pension
Whilst you were employed by Dunlop, you contributed to a final salary defined benefit pension scheme. In a scheme of this type, your pension is calculated upon leaving employment by using your length of service and salary. The annual amount shown in your MyPension account is the pension per annum which has been increased…
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PCLS and various SIPP questions
Apologies for what seems a blindingly obvious questions When I reach 55 I intend to retire (later this year). Currently my pensions are in DC pots across various employers, non of these offer drawdown I have been looking at SIPP options for the past few months. I intend to move abroad in the next 2-3 years so I plan to…
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Taking SIPP payment in final year of working
Hi, Maybe my understanding is wrong, but am wondering if I can do the following. If I have been paying into a SIPP for a few years, and plan to retire in the tax year in which I turn 55. If during that final year, I put 100% of my earnings into the SIPP - I think this in effect means I have zero taxable earnings in that…
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Expat in Cyprus needs a sterling bank account to receive pension payments
My personal pension is due to start but I only have a euro bank account with Bank of Cyprus. I think it would be better to have a sterling account so I can choose when to exchange money. Would a mobile online account be suitable or what do people currently use?
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How do I compare L&G "with-profits" performance with a SIPP?
I've been looking at my pensions for a while now and need some help (explain like I'm 5!) on how to compare the performance of a L&G "With-Profits" pension with a SIPP I also hold. With the SIPP, it seems simple: there are percentages of growth/loss, the amount invested, the term and the current value. The with profits…
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Royal London Governed Portfolio 5 Pn
I transferred my pension into 'Royal London Governed Portfolio 5 Pn' partly due to what seemed like a consistent and good performance at the time The money has been invested now for about 16 months and although the performance in itself / overall has been reasonable when I look on things like Trustnet I can see that it is…
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Employer Tax Treatment on SIPP Contribution
My company pays 5% of my salary into a personal pension - in my case a SIPP. I am a higher rate tax payer and this is the first contribution the company have made. Basically they calculated 5% of my salary and sent it off to the pension company with no tax treatment. Could anyone advise on the way this should have been…
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SIPP query
Hi , please could somebody with much more knowledge regarding sipp tax relief help me out and tell me if I’ve got this all wrong regarding how the tax relief works. I am self employed and a hr tax payer so my understanding is that with a £70k income and I contribute 20k into my sipp my sipp would be worth 25k after the BR…
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Vanguard SIPP or Fidelity (via Cavendish Online)
With Vanguard's recent entry into the UK SIPP market, I was considering transferring my pension into their scheme. But having used Cavendish Online's route to Fidelity (and therefore benefiting from their discounted deal with Fidelity), I am no longer sure which is better value from a fees perspective only. Has anyone here…
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Carry over
Would someone be able to clarify or point me towards some information which might clarify pension carry over and how this works?
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Pension tax relief
Hi all. First post. If govt decides to remove higher rate tax relief on pension contributions from 40% to 20% in the budget; couple of questions. 1. Will any change become effective immediately on budget day affecting current tax year, or become effective for tax year '20/'21? 2. Will carry forward rules remain usable in…
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Islamic wedding ceremony - pensions
The new ruling from our courts could have massive implications. I recall reading about a Muslim couple that were married when the female was a minor and wondered why we recognised it. Does it have implications for any other foreign marriages? Just interested, it does not affect me in any way. A court has reversed a…
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state pension forcast
Just a little background. Male 64 years old working part time ( very part time ) took lgps pension and reduced my hours to the bare minimum a couple of years ago (thanks silver tabby for all the advice at the time ). i am hoping to retire at christmas (my 65 birthday) money sides all ok but state pension forcast says i…
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MAXIMUM draw down, without tax
I am a bit confused!! I am retired and have an Occupational Pension (Fire Service)
and also have a State pension. My wife doesn’t work, and has a private pension, paying
£1940.52 per year. I have claimed the Marriage Tax Allowance, and passed this
allowance to my wife, which is £1250 per year My wife also has a pension pot…
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DB pension transfer - IFA thought yes But his boss says NO - Stuck.
Have posted about my scenario before, but just a quick recap for any new posters or those in similar scenario. Made redundant to get me out of the final salary scheme and then immediately re-employed and now joined the new DC scheme through work. I am paying in 13% and the employer 16% (I could reduce my conts to 8% and…
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Invest in SIPP short term purely for tax relief
I am just on the point of retiring completely. I am currently working full time on a £60K salary but also drawing my £7K state pension & a £10K DB occupational pension so I I am a higher rate tax payer. I have about £16K in cash savings that I would like to wash through a SIPP to maximise tax relief before the end of the…
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HL tax code
With a Hargreaves Lansdown SIPP, is it possible to see online what tax code they will currently use for withdrawals? I thought you could see this, but I can't find it.
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Tax relief for higher earners
Good morning, I live in Scotland where the higher income tax is paid from earnings over £43,431. My annual salary is at just about that mark though I typically also get a 10% bonus at the end of the financial year too. To make use of the tax relief for higher earners I planned to save my entire bonus in my pension so I can…
