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PensionBee plans
Hi all I am in the process of transferring two very small pension pots into PensionBee. I do not know which plan to choose. I cannot afford a broker. I do not know how to decide which of the plans will be best according to e.g. low to medium risk etc. Any advice will be appreciated. Thanks.
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State Pension
My state pension is due from my 66th birthday which is in March 2021. I intend to retire from work so my final pay day will be 31/03/2021. If my SPA date fell in the following tax year I definitely have would escaped the effect of having been in an occupational pension scheme and get the full state pension but I'm unsure…
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Should i join TPS
Hi, I have a part time job that entitles me to Teachers Pension. I can afford to put 100% of this part-time income of approx. 10k p.a. into a pension, and wonder if its worth worthwhile putting it into TPS in my position ( would be 7.4% of salary into career average TPS and the rest in a DC AVC with prudential) or just use…
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Self employed and bank work
I wondered if someone could help. I have had a lot of jobs over the last 20 years and I'm trying to sort out my pension. My current contract is ending soon and I'm thinking of doing bank work (in care) and also some self employed work. For the bank work, does the care company contribute to my pension pot with the…
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Which pension company should I stay with?
Hi there, I have a large personal pension which started off with the HSBC and has since been moved to ReAssure, I get yearly statements for this one. I also have one with Standard Life, which was a company pension, there's not a lot in it really, but I have since left the company, so there's no more contributions going in.…
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Pension Lump Sum
I have a pension fund which is just over £30,000. I want to cash in the full amount in order to complete a property development. I understand that I am legally required to take advice but I cannot find the relevant legislation on this. Can anybody point me in the right direction?
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Cheapest DB transfer advice
I have a very old DB pension. In fact I had actually forgot about it, because I was only in it for 3 years in the 1980’s when I was 21-24. I receive a very high injury benefit for life. I do not need this extra pension. The transfer value is £86,000. I want to transfer it to a DC scheme and draw it out with 25% and £12500…
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Can I claim
My father retired 12 years ago and was given advice by his financial advisor to put the fund into the stock market and take a “salary” from this, the advice cost him £140,000 and has significantly reduced his retirement income. After a few years of seeing the fund get smaller and smaller and his financial advisor…
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How to ask for estimate of benefits from deferred GMP pension
I have a deferred pension from an employer I worked for between 1990 and 2000. The employer was initially a Civil Service employer, privatised around 1995. I believe most of the pension is a GMP pension, and I have a benefits statement from 2000. I'm male and currently 50. I recently wrote to the pension scheme asking for…
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Eligible for HRP NI Credits?
If you were registered for Child Benefit and received it but
then later choose not to receive it when the rules about High Income CB Tax
Charge came in does this also stop your entitlement to HRP / NI Credits for State
Pension from when you stopped claiming? Or are you still eligible to have recevied HRP / NI
Credits until…
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Railway Pension Scheme Website - BRASS Payments/Tax
Hello all, A quick summary. Currently in the Railway Pension Scheme and pay additional contributions into the AVC section called BRASS. Previously whenever I made any changes to my contributions I filled out a form from the pension website and sent it to our payroll dept which was nice and easy. On the new updated website…
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Pension providers allowing active management of investments
I'm looking to start actively managing my pension investments and try and grow it better than leaving it in a fund (bearing the risks at the same time). At the moment, my pension is with Scottish Widows in one of their funds and SW do offer self-management functionality on the online account allowing buying and liquidating…
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Is retiring abroad still a popular option for people?
By my username you can probably assume I would love to retire as early as possible. At the moment I'm early 30s but the dream was always to retire full time abroad hopefully by 50 ( although my username is abit optimistic). Out of boredom I was reading about the cheapest places to retire abroad and the pros and cons. South…
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State Pension letter?
Had my letter today and nice surprise, since I knew it is paid in arrears and was not expecting anything until April. Have a query, it is due from March 6 and letter tells me it will pay me £152.37 for 6-12 March on 12 March and then £609.48 on 9 April. On the online info that I had before the letter it says £152.37 is the…
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Retirement Plan & Dummy Portfolio
Deleted personal details
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Universal Credit and Pension Draw Down
Just in case this is of use to anyone. Though the topic bridges both benefits and retirement planning. I am in receipt of Universal Credit LWCRA + DLA. I am able to access my DC pension under ill-health rules. It transpires that lump sums can be drawn down from the pension fund, and are viewed as capital not income, and as…
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HL SIPP for tax relief
Hargreaves Lansdown have now removed the SIPP closure fee, so there's no need to leave £1000 in there to ensure the account is kept open. Is any minimum balance required now? Do they just leave accounts open for use each year where the balance is a nominal pound or two?
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Near retirement age
I'm 60. Work part time, income under £5k p.a. I have a private pension putting £50pm in to it. Only started 6 yrs ago. I need to decide whether to make a £2k lump sum into it before the end of tax year or just keep it in a savings account with 1.4% interest rate. i only have about £9000 pension value which will not give me…
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Defined contribution pot options
I am 57 and have approx £100,000 in a DC pension pot and am considering taking, firstly 25% tax free, and then the rest out bit by bit over the next few years in order to only pay 20% tax on the amount I withdraw. I have no income from work this financial year but will have had about £16K income from property and a small…
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34 tomorrow, terrified I'm not on track
It's my 34th birthday tomorrow (thank you, thank you) and for the last 4 years I'm terrified that about what my future looks like. I currently only have a pension pot of £30k as I only upped it from the minimum contribution a few years ago, after not taking saving seriously. I pay in £211 per month, and my company pays in…
