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Contracted Out
Hello everyone, I’m trying to get some clarity on how being contracted out will effect my state pension. I have worked in the NHS since September 1987 paying in & still contributing, to what became the 1995 salary scheme. I guess that would mean I have been contracted out through the majority of my working life. I went on…
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HL cash SIPP
Reading their website it seems you can hold cash in a Hargreaves Lansdown SIPP and draw it down for free. They even give a small interest rate. Am I missing some hidden catch here?
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Financial Advisor's ongoing advice or just advice at key times
I transferred out of a DB scheme approximately 2 years ago. I am paying 1% for ongoing financial adviser servicing fees quarterly, approximately £1800 and product charges of £500, So approx £2300 a quarter which is £9200 a year of which £7200 is for the financial advice. Plus 1% to Old Mutual Wealth. I have a meeting once…
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FT - pensions mis-selling article
I can’t access the online article so had to google it , again about mid selling out of DB pensions. https://www.google.co.uk/amp/s/amp.ft.com/content/8fa5b5cc-5309-11ea-8841-482eed0038b1
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Civil service pensions - inflation adjustment of pensionable pay?
I'm in Premium, approaching retirement. As well as suffering pay restraint for 8 or 9 years, I've been at the top of my pay band for the last few years too, so I've been getting 0.5% rises for a few years. My salary has risen by 5 or 6% since 2012. Inflation has added maybe 20% to prices in that time. Pensionable earnings…
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LISA vs SIPP
Hey folks, My fiance is about to go on maternity leave for a year and will get the basic Statutory Maternity Pay - no deal from employer (runs for 39 weeks I think, then nothing for the remaining 13 weeks). There is a good chance that she won't go back after that year so as to be a stay-at-home mum for the next ~2-3 years…
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Pension payments for a couple
Hello My husband is self employed and pays into a stakeholder pension each month. He pays in £245 and gets £61 tax relief in top so approx £306 is added. I have used my full employer contribution but I can do additional non matched contributions on salary sacrifice which give me tax and NI savings. So by my calculation I…
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Company pension vs SIPP
Hi all,Pension noob here. Been paying into my company pension at 3% since I started working as an apprentice back in 2012. As of this month I've upped this to 10% as after bonuses I might be creeping into the 40% tax bracket now. The company contributes 8.7%. I'm contributing via salary sacrifice.The pension provider is…
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Starting a pension at age 60
Better late than never? Neither I (age 55, UK national) nor my wife (age
60, not EU/UK national but UK resident with indefinite leave to remain) have any
pension provision beyond the minimum UK state pension. (Before the arrows fly, there
are valid reasons – e.g. a long time ago I was diagnosed with an uncurable…
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Asset Allocation
Hi - i am 50 and investing into a SIPP to bridge the gap from possibly 57, definitely 60 to getting my DB pension at 65. So, I will draw it all down until 65 then use the DB pension. Vanguard suggest an asset allocation of 65/35 equity/bonds split. Anyone got any thoughts on this? Sounds quite conservative, but i guess…
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Vanguard pension vs HL pension vs Others
Received an email today from Vanguard stating that their pension has now launched (yey) I am sure others will have this question so apologies if duplication but if someone was to invest solely in vanguard life strategy products what is the most economical way to hold them in a SIPP; would it be with vanguard direct or HL…
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Should I reduce my salary sacrifice
Hello, I've received a one-off capital gain this year, and as I understand it (due to this gain) my pension relief limit will be 10k for the year due to tapering. So far this year I have made salary sacrifice contributions of £7500, there have been employer contributions of £2200 and I have paid £3000 into a private…
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Pension advice.
Hello, Im 40 years old and only have modest retirement provisions. My plan was always invest in my house instead. I have 4 policies from an old firm I worked for up until 24 years of age. The policies are split into 2 main polices each with a personal and group policy within them. Benefits include Return of all funds on…
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Non contributary State pensions
Do these exist anymore.? If a British citizen returns from abroad to the UK after many years and does not have 10 years contributions is he or she entitled to any pension or social welfare if he or she is of pensionable age?
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SIPPs and Tax (not Tax Relief)
When I pay into to my Workplace Pension, my contributions (Relief at Source) are not taxed on the way in (I understand it will be taxed in the future on the way out). But to my understanding, if I pay into a SIPP, my contributions have in effect already been taxed, as they are not being taken directly from my pay (and then…
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Inheritable parts of pre-2016 state pension please? (More detail available than previous thread)
Many thanks for the help received so far on the other thread I posted: https://forums.moneysavingexpert.com/discussion/6104739/advice-to-help-retired-relatives-in-crisis-please-state-pensions-etc#latest To follow up, I now have a breakdown of how my Dad's state pension is comprised, and my main concern is to find out how…
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How to choose a SIPP/Pension provider
My partner and I have a SIPP each as we are self employed but i also have a couple of small pension pots that I have got through employment over the years. We got our SIPPs through an IFA and when i have asked him what to do with my small pension pots he has always recommended that I put the pensions into my SIPP. Do I…
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NHS v LGPS
I am 52 and looking to a moving roles. As well as wage & conditions, company pension scheme is high on my list of considerations. So I am wondering which has the best pensions scheme - NHS or Local government? I have a small pension pot worth about £80k and 4 year contribution to a NHS Pension from my current role. The…
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Where to put additional contributions
After an inheritance we plan to maximise Mr Stoodles' pension contributions this year. He is currently paying into a workplace pension (Peoples Pension) and an Aviva Personal Pension, and has two more personal pensions he is not currently contributing to. These will probably all be transferred into one pot, but not before…
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Financial Advisor Advice Incorrect
Several years ago and knowing next to nothing about pensions I took advice on 3 pensions I had, 1 company and 2 private. The advisor took details of all 3 pensions and came back some weeks later with a detailed breakdown on all 3 and the approximate annual salary, he also advised quite clearly that the 2 private pensions…
