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how much tax will i pay
I wonder if anybody could answer my question please.....I have an old tiny pension pot sitting there doing nothing and i want to withdraw the cash from it..its tiny...just £3,200 (i am currently paying into another pension with work). My wages are normally quite modest at around 28,000. however my work load and etc has…
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Pension tax raid being touted again
I read that Rishi looking again “at pension tax relief for higher earners is another possible target, with the Treasury reviving concerns about whether the 40 per cent rate offered to the better-off is justified. Cutting pension tax relief to 20 per cent would raise £11bn, the Institute for Fiscal Studies says.“ according…
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Long term pension investment funds - Aegon workplace pension
Hi all, I'm looking for some opinions on my long term pension investments that I plan on holding within my workplace pension fund. My current pension is held within Aegon of which I believe I pay a 0.45 per annum management charge on top of any fund charges. I have just turned 30, and currently invest 20% each month (15%…
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Higher risk vs Shariah fund pension
Hi, My company nest pension is, currently, in the higher risk pot and is performing well. I'm 35, so have a while, before I reach retirement, yet. I've noticed the Shariah pot seems to be performing, massively. Is there more of a risk, with the Shariah pot, than the higher risk? Should I consider switching from the higher…
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My Dutch state pension
Have tried to find the answer to this from the Dutch side and the UK side and nobody can help. I have 20 years missing from my British state pension. 20 years of no national insurance which can't be paid in hindsight as too long ago. From 1982 to 2001 I lived worked or had children in Holland. How do I resolve this so the…
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Transfer SIPP from Hargreaves Landsdown to Cavendish (Fidelity)
I have been reviewing Hargreaves Lansdown charges and have a self managed SIPP with them. I think the charges are more than I want to pay for the service. Also I am no longer so happy with the guides they provide after I bought some of the Neil Woodford funds that they promoted. I don't rely totally on HL fund promotion…
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Only 10 years of NIC's?
On the MSE website under the question How many years can I buy? it says those retiring after 6 April 2016 can buy up to 10 years' contributions. It also says Already at the maximum number of years? If you try to buy further years that would take you over the maximum number allowed, you'll normally be prevented from doing…
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State Pension forecast vs years of full contributions.
Hi all Apologies if this has been asked loads of times before. I've just delved into my State Pension Forecast for the first time & am a bit confused (to be fair that's not difficult). It says: Estimate based on your National Insurance record up to 5 April 2020 £157.16 a week Forecast if you contribute another 4 years…
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Managing pension investments during retirement
Hello. I am planning to retire at the end of the year. My strategy is to maximise withdrawal from my pension whilst minimising tax payments. I am looking as how to best structure investments with my SIPP whilst retired. My plan is to have 1 year in cash, 1 year in wealth preservation (PNL) and 1 year in mixed 40%equity/60%…
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Planning for the future with 2020 vision
Hi all I am 45 and so is my wife. We suddenly realised we should be planning for our retirement, and should start sooner than later. I have two pensions, one from the civil service that I paid in for 10 years, one from Tesco that I have currently been paying in to for 12 years. My wife has several pensions from a variety…
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Pay into partners DC pension or my LGPS AVC
Hello all, Partner and I (not married) are both 51. I am long term member of Scottish LGPS scheme, part time earning £28800. He is also part time earning approx £17500 and has only been paying into SHPS DC scheme for 18 months auto enrolled, he and employer pay in 3%. We have 2 kids, aged 14 and 17, both thinking of Uni.…
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Is it mandatory to take the 25% lump sum from the pension pot when you retire?
I see it always accounted in website to plan your retirement, but I don't understand, why someone wants to do it? Just is because there the tax relief? (so all cash free of taxes) Or because the people didn't plan well their lifes (or something bad happened), and they use this cash for paying the mortgage and other things?
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Multiple jobs, workplace pension and salary sacrifice. Help!
Hi, I work as a personal care assistant for 3 different employers (job breakdown at the bottom), I would rather all my contributions went into the same pot, the payroll company have advised me that they can only manage payments into NEST as that is the local authority's preferred provider (and the LA provide all the money…
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Pensions and paying for Covid
It seems the Sunday papers are speculating on how Rushi will pay for Covid and Pensions are being mentioned, along with tax hikes and second home payments. I fully understand that Triple Lock might go for the State Pension but wondered what else he might have in store? Is it likely that those already on Pensions (except…
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Thomas Cook pension
I worked for Thomas Cook back in the 80’s and they have recently contacted me offering me a trivial commutation lump sum of £16260 - I am 58, so could take it but I don’t need it now and would like to either leave it when it is, or convert it into an annuity over 10 years. It’s not possible to speak to willistowerswatson…
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Current value of USS income builder scheme
I’m trying to gather together all the paperwork related to multiple pension schemes from multiple jobs I’ve had over the years. One that is really confusing me is the several years I spent working for a university in the USS scheme, a job which I left in April 2018. My understanding is that the USS scheme is split into two…
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Balancing savings v mortgage
Hello we are in the process of moving house. For the past few years we have maximised our pension and ISA savings, saving at least £60k per year. However, we have kids and they go to private school, jobs and income have changed and I suppose priorities have too. We are moving to a bigger house to hopefully give us a better…
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Scottish Widows refusing to let me transfer my pension to a SIPP - What can I do?
Hi all, First time poster on this forum. I have dormant pension with Scottish Widows that was funded by myself and previous employer for 12 years. When I left that job, the pension contributions stopped (obviously). In the pension I have 4 funds: * SW SSgA North America Equity Index Pension * SW Schroder US Smaller…
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Virgin Glidepath Stakeholder Pension
I put some money into a Virgin Stakeholder pension a while back as I liked the idea of a passive fund tracking the FTSE. Just got a letter saying it's being moved to 'Glidepath'. Anyone else got this and wondering what to do? My feeling is to stick with what I'd got.
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Early draw down <55 due to Covid
Considering the dire predicaments that Covid 19 have put us all in we are all looking for ways to find funds. I am 51 and have a state, government and a couple of private pensions. I am aware that the private ones cannot be accessed before 55. However I would have thought that the government would have relaxed these rules…