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Transfer overseas scheme to uk
Hi all - anyone know a SIPP provider that’s will allow transfers in from guernsey. HL (after doing most of the work) now won’t. It’s not massive but there are two of them thanks in advance
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Any suggestions for pensions less than £10,000 transfer value, what can i do with them please?
Hi I've 3 small (under £10k transfer value) private pensions, ideally I'd like to cash them in to help towards buying my ex out of our family home, but I gather this cannot be done? Can I transfer them for a deposit to buy/mortgage a property via a SIPP or SSAS. I am female aged 53 with kids 16 and 18 (at uni). Any ideas…
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Meaning of deferred pension value
Hi all, My DB scheme recently closed and the scheme sent a value of the defined benefit on closure (I am still with the company moving to DC scheme). It is 20 years to my normal retirement date (although I hope to stop work earlier). I just wanted to ask what the value means (Total pension £7k), is it the actual amount I…
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Child Benefit - Pension Contributions
Just wanted to check my understanding for this tax year whilst paying into SIPP.My employed income after my workplace pension contributions should be £62,050.We currently getting child benefit for 2 children = £1,820 in the year. Just checking my understanding is correct. If I contribute into my SIPP £9,640 this will…
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Take pension at 55
Hi, newbie here on this site but hope someone can give me a bit of advice. I am thinking of cashing in an old DC with a value of £40,000. I have two other pensions of £40,000 and £90,000 but both are DB so don't want to touch these. If i cash in the DC pension will i just get £10,000 tax free and if so how much tax would I…
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Early Retirement Plan
I work in IT and hope to retire at 60 later this year. This is mainly due to stress at work and with my age no doubt a deal could be had with my employer to leave early, perhaps 6 months’ salary. I would look for contract IT work but doubt I would be lucky so the plan is ideally then a small local “non stress” part time…
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Tax treatment of DB pensions
I understand how DC pensions are treated, I have already drawn the 25% tax free lump sum and have the rest waiting to draw when I want to which will be taxable income.But I am unsure of how tax is dealt with on Defined Benefits pensions.One I have, that I have been drawing since the age of 50, gave me no lump sum, just a…
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NHS Pension - Tax relief
Hi all, I am currently a member of the 2015 NHS pension scheme. I am currently a basic rate tax payer (20%) but it is likely in the next 12-18 months I will be pushed into the higher rate of 40%. From what I understand, currently the tax relief on my pension is relief at source so I don't need to do anything. But after…
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What should i do ...?
I am 57 years old and in employment and I have a smallish (?) local government pension, deferred from my previous employment in local government 1983-1994. I could take this now (with a 4.6% reduction) or leave it to mature in 2022. What should I do ? It doesn't seem as though it will go up much in value the next 2 years.…
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Sovereign Pension Services - dealing with my deceased husbands affairs
My husband passed away suddenly on March 30th this year. Generally everything financially has been very easy to deal with and most pension funds are already sorted. Sovereign however is another matter...going through my husbands paperwork ( he was fastidious), I was able to contact them and advise of his passing on the…
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Journals and magazines with statistics on company pensions affected by the 1995 Pensions Act.
The 1995 Pensions Act deprived some members of company pensions of the same annual pension increase others in their company received. I am looking for information on how many companies as a percentage of all companies used the 1995 act to deprive their employees of an annual increase to their pension. There other matters…
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Married to a foreign wife state pension
Hello all I'm British born married to a lady from the Philippines. Marriage is certified, and recognised in the UK. I live in Philippines but am still here in UK due to covid 19. I will be living in the Philippines permanently, already have house, visa etc etc. I retire in 3 years state pension only. When I pass away, will…
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Best Online Pension Calculator / Tool
Is anyone able to recommend a good (free) online pension calculator / tool? I've tried a number but none seem to be able to give me exactly what I'm after. I want to model drawdown of my DC pot, my 2 DB's and SP all starting at different ages. I also want to be able to vary the projected amount of drawdown year by year…
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Teachers pension - missing!
So I started teaching way back in 1999 and just being out of university, and pretty skint at that, I made the decision to opt out of the pension scheme so that I could get a few extra pennies in my wage slip. A year or two later I changed schools, and started to pay into the pension scheme once again. The problem was, I…
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LGPS - how long for retirement documentation to be issued?
I handed in my notice five weeks ago, I'm 60 and the pension fund administrator is aware I wish to draw my pension based on salary from a number of years ago. Prior to deciding to leave, I received a pension quote, subject to actual salary details being confirmed by my payroll administrators. I've received no documentation…
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Pension VS Lisa for retirement in terms of overal profit
Used a Compond Calculator for a cash fund pensionLump sum £0Monthly Payments £333Government contribution 24% (knocking off 1% to cover any fees or management fee) Duration 30 YearsOk so it said you would end up with a Pension Pot of roughly £148,651.0Lets call it a nice round figure of £150,000Youve put it £119,880 This is…
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Pension contribution refund
So i was in temp employment for a few months, until last May. I was on auto enrolment with Nest pensions. I only contributed around £700 whilst there. I would really like to take this money out, and have it back (i know i would have to pay tax on it), and not transfer it to my current employers pension. Is this possible?…
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Shortfalls in your National Insurance record
My mothers' state pension forecast says: There is an option to fill in years: What are the pros and cons of doing this? She does not work and has been making £2,880 (net) of personal pension contributions. Should she make voluntary contributions if she can afford it? If she got the full state pension she would still have…
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Embark Platform
Alliance Trust Savings have emailed to give notice that my SIPP is to be moved to Embark Investment Services Ltd, with fees being approximately the same. The move will happen no earlier than the end of July 2020.I hadn't heard of Embark before this. The fee levels should be fine but I would be interested to hear comments…
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NHS pension commutation
My father is retiring from the NHS. He is a member of the 1995 section and there is an option to commute pension for additional pension commencement lump sum.The commutation ratio is 12:1, therefore assuming the retained pension is taxed at 20% I expect commutation is only preferable if you expect to live for less than 15…
