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what do i do
Hello everyone i really need help, I`m 47 years old i have not work for over 20 years due to health problems and it looks like i will never return to the work place . I have got a pension for where i use to work at £2950 which is nothing , what i want to do is pay into a new pension and transfer the old one... is it worth…
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National Insurance contributions query - “qualifying years” for self-employed people
Can anyone help, please? For tax year 2013/14 my National Insurance
contributions record says “year is not full”: so tax year 2013/14 is not a “qualifying
year” towards the 35 “qualifying years” I need for a full state pension. From 6/4/13 - mid-September 2013 I was a
student in full-time education, doing no work, paying…
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Pensions and remarriages
Will I lose my part of the pension pot of my ex that I receive if I marry again?
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Scottish Widows drawdown - any good?
I've fair sized SIPP in Interactive Investor and my current company "personal pension" at Scottish Widows (about half the size of the II pension). I'm planning to retire soon (probably at the start of next year) and wondering what the drawdown experience is like with Scottish Widows or whether to move elsewhere. Clearly I…
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Pre retirement advice.
My wife is thinking of retiring at the end of September.Is there anything we could be doing to take advantage her being a higher rate tax payer.Possibly investing a lump sum in a SIPP perhaps,to take advantage of the 40% tax relief.Any suggestions or advice would be greatly appreciated.
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NHS ill health retirement
Hi all. I am 31, and have a genetic hypermobility condition that means my hands and arms are becoming weaker and more painful, and have been for around a year. This is a major problem because I’m a dentist. I’m thinking of trying to get ill health retirement, and have two questions you may be able to answer: 1) what do the…
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DB Transfer thoughts
Good evening, have been a regular to the pension forum and the MFW site too. Just looking for some thoughts on my current situation. I’m 53 years of age and my current role will become redundant in Feb 2021. I have requested a CETV from a previous employer for the last 3 years. The most recent figure has risen by £86,000…
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Inheriting state pension - calculation
Can anyone please explain how the basic inheritance procedure works pre 2016. my understanding is when first one dies, if their NIC were more than spouse's they would transfer over to the surviving spouse, plus the relevant % amount of serps, and 50% of 2nd State pension and graduated retirement benefits However someone…
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peoples pension
hi I am now 57 and my employer has enrolled me in the pension scheme as i have only about another 10 years working life left is it really worth it at my age I pay around £9ish and my employer around £12ish as if i get a little more than the state pension with this one would that then stop me claiming certain benefits when…
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Untouched Pension Pot
I have a pension pot of £1.45m protected. I will not be drawing this pension as I have sufficient income including, state pension, a small pension and rental income. I am aged 73 and assuming I reach 75 a massive chunk of the £1.4m will be taken in tax but if I die before 75 the letters of wish beneficiary's (two sons) get…
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Voluntary contributions - confusion!
So sorry if this has been asked before - I did try a search before asking. I reach retirement age this October and find to my horror that despite having paid NI for 48 years, 28 of those years are deemed incomplete and I won't be getting the full state pension. It looks like they didn't count any of the 28 years that I was…
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Advice on NI Contributions
Hi My OH (SRA 2030) has down shifted and now has a community based job earning just over £400 gross a month. There is no chance of additional hours. As I understand NI (which is slightly,but not completely) this is not enough to earn a full years contribution, and part years don't count (except possibly to reduce fees to…
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Pension UFPLS then move to Tax Free cash in stages
I gave up work in March and was in the process of moving to drawdown (very bad timing). That's now on hold until the markets sort themselves out. But, as I'm not working I would like to use my tax allowance this year and do a UFPLS of around £15k, then claim the tax back. When the markets improve I then plan to use Flexi…
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The demise of the triple lock.
Rishi Sunak will have to end the triple lock IMHO, average wages are going to take a dive this year, of course this doesnt affect state pensions, but then next year (I hope) average earning will bounce back.To be fair I never agreed with the triple lock, but I suppose it attracted a few million votes.
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State Pension question
Just trying to get my head around where exactly I currently sit with my state pension whilst pension planning, after some advice on the below: I have logged into the Government Gateway site tonight and this is what I am currently showing: I can get my State Pension in April 2043 (I'm 44 years old), £175.20 a week Estimate…
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LGPS vs Civil Service Alpha
I've just been offered a new job with the Civil Service and am currently weighing up my options, one of the big considerations for me is around the pension. I'm 33 y/o and have been in the LGPS since 2004. At my current employer I contribute 9.8% of my salary, and they contribute a further 25%...which I think is unheard…
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Overseas, non tax payer wanting to make pension plans
This message is on behalf of my son. For the last 4 years he has lived overseas working as an aid worker in trouble hotspots. He lives in accommodation that is provided for him. Each contract lasts for either a year or two then he moves to another posting, usually in another country. He visits us in the UK for a couple of…
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Tracing old pension pots and consolidating into one pot
My husband has old pensions swirling around from the 1980 through to 1990s and maybe up to 2000, resulting in probably about 7 or 8 different pensions. The tricky thing is companies move, sell out, get sold or go bust and my husband was never good at keeping in touch, keeping documentation, informing of change of address,…
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Missed national insurance payments
Hi there, Can anyone give me some advice? I have recently found out that my self employed 53 yr old husband only has 7 years class 2 national insurance paid. He has 14 years left to work which takes him to 21 years but according to the gov website we can only buy 6 years back at £795 per year giving us a trial of £4770. My…
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Best interest rate versus paying into a pension
i am 65. Still working. Have not topped up my private pension for 10 years. The best instant access interest rates is NS and Investments Bonds at 1.1% . I have been advised that if i invest my whole profits for my last business year,which i can afford to do, the government will top it up by 20%. Could i then withdraw the…
