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LGPS Pension Cash Transfer/Refund
Hi all,I received a letter in May from the London Pension Fund Authority regarding my pension, as my contract was not renewed with my then employer (and I have remained unemployed since March for obvious reasons). I did not reach the 2-year point with my previous employer, so I have now been given the option to do a cash…
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Direct benefit pension transfer
Hi I’m looking to transfer a defined benefit pension to dive s more flexibility. The laws is that as funds are over £30K you must get IFA advise. I have contacted a couple of advisers so far any they are wanting to relieve me of a sizeable portion of my pension for the privilege of giving advise. Does anyone know of a…
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Difference between regular and lumpsum contributions from salary
My employer allows us to change pension contributions around Feb / Mar as it times with bonus payout. I am a higher rate tax payer. Is there a difference between (a) regular monthly pension contribution of say 15% and (b) lower monthly contribution initially of 10% and increasing it to 25% in the last 3 months? Am i…
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NHS Pension gone down, why?
I have just noticed that my NHS pension has gone down, although my state has increase. is there a reason for this, i do not understand why. on-line it mention something to do with my state pension increase the NHS will go down. i am waiting for call back. In the mean time, any ideas?
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Is this compensation offer fair?
My partner has received a compensation offer for a mis-sold pension transfer out of the NHS in to a private pension back in the 1980s. Whilst the amount sounds sizeable (£80k), it is based on the almost 6k a year pension she's missed out on since retirement (5 years, so almost 30k) plus 10 years of that same pension going…
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State Pension & NI Contributions Query
Hello, Forgive me for what may seem to be a daft question, but - having checked my SP forecast on the HMRC website. It tells me that I currently need to make 3 years worth of contributions, before 2027, to receive the full SP of £175.20 per week. The current estimate is a little over £163 per week as at 5.4.20. I opted for…
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National Insurance credits for spouses of Her Majesty’s Forces Personnel
I have been given this site details by WASPI, who felt that you may be able to offer help and guidance regarding my situation as the wife of a retired member of HM
Forces. I gave up full time work in the UK to accompany my husband to the Far
East during the 1970s and 1980s. In those
days information regarding the impact of…
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DB Pension Advice
Hi, I will be 60 in a couple of years and will be taking A final salary pension of around 12k per year. I will also get a lump sum (25% of fund value, achieved by commuting some pension plus AVC's). I also have around 20k of AVC's which my scheme allows me to take as part of my TFLS, so I wont need to commute so much…
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Medically retired
I am new to this, so please be gentle. i am currently medically retired and in receipt of two work pensions. my question is, is there anything that would stop me taking on a suitable job if an employer was to agree. Or will this not be permitted due to me being medically retired. I am 40 years old. any advice would be…
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Pension Income
A colleague has a private pension and recently took the tax free lump sum of 25%. She does not want to buy an annuity but draw income of 5% monthly from the pot and remain invested. I believe this will be tax free. She is 60 years old. Any other options available?
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Pensions in our 30’s
My wife and I are both 35 and I would kindly appreciate others opinions on whether we are missing anything / making any obvious errors in our pension planning and if we are likely to reach our goals (crystal balls at the ready!). I am 35 and earn 50k plus an annual bonus, so I am now a higher rate tax payer. I have an…
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Civil Service Alpha EPA vs Added pension
My current age is 40. My NPA is currently 68. Current salary is £72,206 I have been in the Civil Service Alpha scheme since joining the Civil Service on 18 July 2016. Alpha provides a defined benefit worked out on a Career Average basis. For example, in year 1 April 2018 – 31 March 2019 my pensionable earnings were…
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National Insurance Gap
My online tax account says I have a gap in NI for 2018 and can pay a voluntary contribution of £278.35 to top it up. It says to call before paying but the recorded message says they are only accepting calls from people within 6 months of state pension age and I should check my record online. I can pay online but it…
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How fast should I assume my pot of money will grow?
Hi All, I am 49 this summer and I am hoping to retire at 55. I have been actively planning my retirement for the last 8 or 9 years but haven't taken professional advice as yet. I have a couple of questions that I would really appreciate peoples views on. 1) How fast should I assume my DC pot will grow? I have based all my…
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How to get a private pension (Not employer)
Hi All, I am wondering if it is possible to have a second pension, in adition to that one provided by the employer. My employer HR is based abroad, with solicitors normally being subcontracted to do the local UK taxes and what not - and I have historically found it very hard to have any sort of agreements to change the…
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Eligible for backdated payrise?
I am planning to retire from a local government job in March 2020. Nothing has been agreed yet re: annual local government pay rise (due to Covid19 we might obviously not get one at all) if we do though and it is not agreed until after March but is backdated to this year will I still be entitled to it even though I have…
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State pension benefits
Hi all, I had a few questions about our UK State Pension. In particular, is the current weekly pay set in stone for each individual given their DOB? Is it due to increase with inflation? Or is it subject to change by any government that comes into power? thank you!
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DC Pensions - How do they work?
I was reading up about defined benefit pension schemes on behalf of a family member. I found lots of very good information so got a really good understanding of how they work. However, for some reason, I'm struggling to understand exactly how defined contribution pensions work. Let's say (numbers out of a hat) a person has…
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Withdrawing from UK pension but living abroad
Hi, I'm a Brit that was born and lived and paid taxes in the UK until the late '90s, at which point I moved abroad and de-registered from the tax system in the UK (naturally). I've been working and paying my taxes in Germany since then and am still doing it and paying top rate tax. With age 55 arriving soon, and having a…
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Advice on Choosing a Pension Provider for a Self Employed Web Writer
Hello all, I'm recently self employed need a pension provider and I really don't know where to start. I'm a content creator/web writer/blogger right now with a good income. Ideally I would like a pension that I put a fixed amount in per month and then top up a little extra if I have a good month or year. I want to continue…
