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Can someone give advice on Dads pension
Hi guys, So my Dad has no clue about his pension and I’m trying to sort these out for him. He has 2 private pensions that have very little in them (under £1000) but when I was enquiring we came across a pot with about £47000 in it. Turns out that he opted out of the earnings related portion of the state pension in the 80’s…
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How do I set up a SIPP for someone who does not speak English and can’t use a computer
Having a nightmare here. Please help. As part of a pension sharing order for a divorce. I’m helping my mum to set up a pension. We called aviva to help us through it but they were not able to help as my mum can’t use a computer. They wouldn’t talk to me. What pensions companies have branches to go in to? Are they all…
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Pension benefit projection, how long do they think I'm going to live?
Hi. I'm slightly confused and wondered if someone with a little more knowledge on this forum could set me straight. I've just received my annual pension review document from Royal London. The document shows what the final fund value could be and underneath it shows what my annual taxable pension could be. Assuming I retire…
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Pension contributions and Self-Employment Income Support Scheme grant
Hello.I'm self-employed. Since COVID my self-employed income has dramatically fallen. I'm fortunate in that I have received the Self-Employment Income Support Scheme (SEISS) grant. If my self-employment income recovers later this tax year I will want to make some contributions to my private pension policy later this tax…
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Am I On Track?
Hi, I just wanted to ask as a general consensus if you think I am on track with my pension ? I have a db pension from the civil service which pays around £4000 a year currently with a lump sum of around £17,000. I also have 18 years on my state pension record so far and for the last two years, have been working for the…
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L&G Pension Funds
I've just got buying a house out of the way and now looking to take a more active role in my pension and a S&S ISA.. when searching for better performing L&G funds with more risk on HL etc I'm unable to find them when I look to change my investment within my account.. I'm only given a list of 132 funds to choose from. Do I…
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Annual Allowance Pensions Saving (NHS 1995 Scheme)- some guidance please?
I requested a AA Pension Savings Statement to try to work out what if any AA I had to carry forward to save as much as I can into a separate SIPP. Brief background- I reached Scheme NRA in October 2018, my anniversary date is 13/09 annually- I joined the scheme in September 1985. I had a brief break in service May 2011-…
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DB transfer of less than 30k
I have an old DB pension with a CETV of just less than 24k which I am considering transfering to Pension Bee along with 3 smaller workplace schemes with a total value of 3k. The trustees of the DB pension, despite the value being less than 30k, want me to provide evidence of "Transfer advice would be a statement from an…
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SIPP when not working
I’m looking for advice on the best way to create a lump sum to pay off a mortgage when the fixed term ends in 4yrs. Option one would be to make additional payments (to 10% of the balance per annum) or put that cash in a SIPP. I’m not working and have a small DC pension in place already, so can I take out a SIPP and benefit…
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Approximate value of pot?
Hi guys I've got a final salary pension quote which includes a transfer out option. I'm trying to get a very rough idea of what sort of income this pot could provide. If it's in the ballpark I'll go forward and get formal quotes, but if it'll only likely get me 50p a week then I'll not waste any more time on the exercise.…
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Pension query on behalf of my partner
She has a Legal and General pension (WORKSAVE PENSION SCHEME A2). She has now left her job and wants to know whether she can access the money in any way before she is 55. Is this possible? She is aware that she has the option to make a fund switch request, but which one would the best to switch to? Here’s a link to the…
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Where to start re pensions and retirement?
Husband is thinking of retiring in the next 5 years. He has built up a good amount of savings but we currently have high outgoings. These should reduce significantly when the kids leave school/home within the next 5 years. He is 58, so over the pension age and I am 52. Some basic questions (and apologies that these are so…
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Fund Ratings and Research.
Hello all, My company Pension is run by Fidelity, we even have our our Fund ( well in name ). We also have access to multiple other Funds.The 'Company Fund' appears to be performing poorly compared to the rest of the Funds available.While I understand the circumstance we all find ourselves in , Im interested to research…
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Dream Retirement Property - but can we afford it?
I need a sense check from MSE wise heads please. Apologies for long post. First world problem and, yes, we are lucky… We have the opportunity to buy our dream (early years of) retirement home but the finances are complicated and a bit of a logistical nightmare. I am pretty confident we can afford the upfront cost but it…
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A couple of SIPP questions
Forgive me if these are basic questions but I am only just learning about SIPPs, actually don't have one myself but asking on behalf of a friend. * There seems to be a rule with the existing pension provider that taking out the over 55s 25% tax-free allowance can only be done if an Annuity is purchased at the same time. If…
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My Tax code:
Hi I have contacted the HMRC regarding paying tax on my private pensions. I have just started to receive my state pension. I have noticed that I am being taxed on my private pensions. My wife has no income and asked about recieving her tax allowance as I believe I can. They said yes and have issued me a new tax code. My…
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AVC - Taking 25% tax free for over 55.
Hi, I’m in the enviable position of being asked to come out of retirement and engage in full time employment at the age of 56. As part of the employment I will be on a contract and work via an umbrella company who will pay me a salary after NI and Tax is deducted. I expect the contract/employment to last approx 18 months…
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PENSION B
Can anyone tell me if they have used Pension B, where you combine all your pensions into one? is it a good thing? Any feedback would be appreciated. Thanks
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paying pension and tax credits
ive just set my pension up at 7.5% with my employer , how does this work with tax credits? my overall take home pay is less, but with tax credits you enter you over all pay before any deductions. will my tax credits stay the same or go up slightly? 7.5% is around £160 every 4 weeks of my overall money before deductions.
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Coronovirus scams and phishing etc.
Royal London have put 4 short podcasts up on their website to address this.Probably nothing new to regular posters here, but in the interests of those who may not be so familiar with the issues . . .
