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Company goes bust - pension options?
Hi, looking for advice re the possibility of my company failing due COVID19 economic downturn. I am in a position to draw my company pension now (approximately 1 year before NRA) - would this offer any additional security if the company went bust, or does it make no difference?
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Moving abroad
Can anyone help? We moved from the UK to New Zealand in 2009. I have 3 personal pensions- which are still in the UK. I was able to contribute to two of them for up to 5 years from 2009 to 2014 and then had to stop. I have now been allowed to start contributions again with one of the providers. Dilemma! I am 64 ys of age…
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DHL PENSION
I’ve got a dhl pension which as been frozen for some time, it’s taken a bit of downward roll with Covid 19. i rang them up & was told it’s a final salary pension (DC) to cut a long story short I’ve been in touch with a financial advisor who told me that final salary schemes don’t fluctuate as they are not connected to the…
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Retirement Plan - currently aged 31 years old - Thoughts?
Hi Guys. Just would like to hear your thoughts regarding planning for retirement - I've never really done a plan before to try and plan for retirement, so the below is the "first draft". I'm 31 years old. Wife is 28 years old. Pensions: Me - 2015 Police Care Scheme. In current value, assuming I retire at 60 & no…
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Pension at 50
When I was 19. (1998) I took out a personal pension plan. When I had my children I stopped paying in to it. So I know I won’t get the full value. However it was supposed to be 50k when I was 50. Now that I am 50 they say I cannot have it until I am 55. But that is not what I signed up for. Can they do this ? I have a…
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Investments in crystallised and uncrystallised parts of pension
I was wondering what happens to your pension investments when you crystallise part of your DC pension pot and your pension provider is one that keeps the two parts separate . If you say crystallise half of the pot , but want to keep the same investments ( for now anyway ) in both the crystallised and uncrystallised pots .…
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SEISS and retiring
My father has claimed the first lot of SEISS in May..Can he claim the second wave of SEISS in August even though hes retiring in October?
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Confused by annual allowance carry forward rules
I'd be very grateful if someone could help me. I'm completely confused by annual allowance carry forward rules. My understanding is that you can only pay in to a pension the equivalent of the maximum gross income/salary in one year. My confusion comes by seeing on a forum thread that you can only make use of the carry…
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with profits annuity low compared to fund value
I have just got my with profits statement and don't understand how the annuity value relates to the fund value. For ease of maths the projected fund value is 47k and the annuity is £960 to be taken at age 60. To me it looks like I'd have to live to 109 to get the money back. If I manage the local average for men (81), I…
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Tax relief question non tax payer
Hi everyone, My wife works self employed part time. We’ve recently opened a SIPP for her which is mostly funded by my wages. Some years she might earn above the income tax threshold and others she may not. How will this work in regards to the tax relief going into her pension? If she’s not going to receive tax relief we…
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How to carry forward annual personal allowance when exceeding £40k limit?
Morning All It appears I have exceeded my £40k annual allowance by £7k and have been warned by my pension provider that I will now be liable to pay a charge/not receive tax relief on this extra £7k. I have never come close to touching the £40k threshold before so am hoping I can take advantage of the carry forward of the…
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Where do I begin to start saving at 36 towards Pension
Hi Everyone, I have never opened a pension before and I want to start at the late age of 36 as im worried about the state of the current economic climate. My situation: Single, I dont own property but would love to soon, I have recently for about a year paid into the standard government pension where monthly I would get…
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Death in service
Hi, does this part of the forum know about Death in service? I’ve just had a relative die recently and I’ve been told they had death in service at there job. I have emailed someone from his HR but he’s not very cooperative. Probably wouldn’t even have told me if I didn’t find out. Just any info on it would be grateful.
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NHS pension.
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Contribute to SIPP and then commence drawdown in the same tax year?
Just finished self-employment but still 3 years off State Pension and small DB pension. Will be using 2 small DC pots, small SIPP and savings until pensions kick in. My question is can I pay into my SIPP up to my income this year, get the tax relief credited, then later in the same tax year commence drawdown (either TFLS…
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National Insurance Contributions Gap
Hi,I
have been reviewing my online record of National Insurance contributions and
was somewhat surprised to see that for 1984-85 the year was not regarded as a
full year. It showed: Paid employment: £11.97 & National Insurance
credits: 28 weeks I
was still in full time education studying A levels from Sept 1983 until the…
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Aviva Pension Funds
Hi all, Please bear with me, i'm very very new to the language of pensions/bonds/equity so looking for some beginners advice. I'm currently getting my finances in a better place as a whole with nothing else to do on furlough, and have started a little reading on investments. I'm currently 29 and have a small but growing…
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NHS Pension
Hi, my wife worked for the NHS for a number of years and we would like to get a quote to see how much she will be entitled to when she retires. She spoke to a very grumpy lady at the Gov helpline who said she would have to log into the ‘Post office verify’ app, which requires a QR code (whatever that is) before you can…
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Tracing old pension
Hi Does anyone know if it's possible to track down an old personal pension plan when you can't remember the name of the provider? Surely HMRC must have details as I was contracted out but the pension finding service requires you to know the name. Thanks!
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Defined contribution pension fund - Drawdown
Hi - I have several final salary pensions and a pension pot via contributions worth £200,000 approx. Im 57 years old and living off savings until pensions kick in when I’m 60. I have asked about taking 25% tax free lump sum from pension pot and I find the options a bit confusing in reply. To go straight to the point ; At…
