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35 years contribution
Hi Sorry if this question has already been discussed but I am doing a bit of a financial health check. I have looked up my state pension which tells me that my ''forecast is £175.20 if you contribute another 2 years before 5 April 2036''. It also tells me that ''If you’re working you may still need to pay National…
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Planning
I’m 45years old. Mortgage free, dependent free, I’ve £135k cash savings. I can afford to save per month £1500 Any advice on a retirement plan should I plow my monthly savings in my pension should I put a lump sum into it should I invest in stocks abs shares I just don’t know what to do
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Pension fund.
Does a pension fund require an independent financial advisor or can a trustee act as the advisor?.
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Auto enrolment for nanny - any pointers?
Been searching for an article or forum that helps me decide what company to use for setting up auto enrolment for our nanny. I have a nice and simple Vanguard Lifestrategy route for my pension and was keen to do the same for her but I don't think this will be possible for auto enrolment. Can anyone offer any points in the…
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Late parent private (employer) pension
My parent passed away aged 65 and had drawn their private pension and was receiving monthly payment. There was no spouse and I am only child but non dependant. There was very large amount money in pension pot at time death and I was advised as non dependant not eligible for any of it. Have I been advised correctly? Thankyou
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Income Funds within L&G Pension
I was considering my pension drawdown retirement options. If this was an ISA, I would buy some income funds paying out the dividends from the companies held every quarter, etc. Can this be done within a pension? If so, what do the pension administrators do with the dividend cash payouts? Thanks for any feedback.
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Choosing a Sipp Platform?
So my pension is invested through my company DC scheme into a default fund which is an equity heavy, slightly UK biased general investment fund which I think probably charges about 70 basis points all in. I reckon I could leave my money going into this fund but regularly move the majority of funds into a sipp with a…
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Is a no deal brexit likely to adversely affect pension savings in short term?
My pension pot is currently worth approx. £35k and I plan to take this as a cash lump sum spring 2021 at the latest. I can move the money into a cash fund to ensure the value doesn't decrease but I wonder if this is necessary and I would lose out on any further gains in the next 6 to 9 months. On the other hand I don't…
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Defering my state pension
Hello, I defered my state pension last July 2019 when I reached pension age, as I am still working. I am wondering what to do this July 2020? I will still be working. When I finally decide to take my state pension, I am wondering if it is financially better to take the defered years as a lump sum or as an increased monthly…
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Possibly leaving LGPS, under 2 years vesting period
Hello If I were to leave my current local authority job with under 2 years service, what exactly happens to my LGPS contributions? I also transferred in a defined contribution pot into my LGPS, the rules say I will be refunded any contributions. Ideally I could just transfer the whole lot (with current value) into my next…
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Inherited Pension Pot
My sister and I have inherited a pension pot of £450k. Our late mother's Wealth Manager is offering to look after the money and we take out an flexi drawdown product. My share of the pension pot would be useful as I can pay off my mortgage and other debts. Am I right in assuming as my mother died before 75 and never drew…
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Trailing carry forward?
Hi, I’m trying to understand how exactly the carry forward rules work and hope somebody can give me some clarity, please :smile: My earnings and pension contributions from the last 3 years were as follows: 2017-2018 earnings £40k. £5k in total paid into stakeholder pension. 2018-2019 earnings £40k. £10k in total paid into…
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Worth paying NI is SP passed on?
Paying voluntary NI for many years to ensure a State Pension, now have 35 years contributions and online forecast shows the maximum SP and 10 years to state pension age. Is there any extra benefit in paying any more NI (I think not)? Does a surviving spouse inherit all/part of a SP if it has/hasn't started to be claimed?…
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Notify other pensions?
Back ground, i am in the process of cashing in three pensions pension A is the biggest and B and C are both a lot smaller, pension A has already paid out, but they told me that I have to notify B and C within 91 days or risk the wrath of HMRC, now I haven't made contributions to B for 30 years and C for 23 years, the…
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Lump sum into pension?
Hi there, we have 20k to add to our long term savings and are just exploring some options. My husband is a higher rate tax payer. Is it possible to put a lump sum into his pension and some how get the tax relief? Or would this need to be done out of his monthly pay? Kind of drip fed? We can’t quite get our heads around how…
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Voluntary contributions State pension?
Hi, I’m 27 and plan to move abroad in two years time probably for the remainder of my life. I have 6 qualifying years and as I’m working for another two, I’ll have 8 qualifying years by the time I leave. Is it worth making voluntary contributions? I have checked and I am able to do this. However I’ve been told that UK…
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'Diversify' cash holding
I have a cash/equity portfolio, and am wondering if there is a simple way to reduce currency risk on the cash part (or even if it's a good idea!). I have an Emergency fund in NS&I index trackers, which i probably will not use unless really pushed. For some of the rest, what would be the easiest/cheapest way to get some…
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Possibly redundancy - LGPS AVC
Hello everyone I have been in employed local government since late 99 and in the LGPS throughout Currently earn £42600 and have been contributing to an AVC steadily increasing this to the current £670 per month before tax and NI savings - cost to me is £455.60. It’s a salary sacrifice scheme. The value of my AVC is…
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I think I'm being a bit thick, need help working a Gross figure out.
Hello I have a question about claiming HR tax relief on pension contributions- HL sent me a template letter to send to the tax office so the relief can be claimed via payroll- Dear Sir/Madam I hereby claim higher-rate tax relief in respect of contributions made to personal pension plans.
Please find the information…
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IFA Sanity Check / Fund advice.
Hello all, Could you offer some advice please. I recently spoke to an IFA about moving a mothballed Pension from Aegon / Retire Ready for better performance / better charges. Its currently invested in the External Balanced Collection (ARC) Fund. Approx £70k His advice was it was a below average Investment with moderate…
