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Clarification on Pension Contributions
I'm confused on whether tax relief counts towards the £40k pension threshold and on how this is calculated. I will be making a £10.4k contribution via salary sacrifice throughout the current tax year and my employer will make a contribution of £18.2k. I have also made a contribution to a SIPP of £5k net, (or £6.25k gross…
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Fees - Financial Advisors
Just had a quote from a financial advisor for moving a frozen pension to a new provider, 4% of total transfer for the initial set up/transfer, then a yearly fee of 1% of the pension value ( paid monthly ). That’s works out at £4000 & £1000 per year respectively Question is, are these rates pretty standard across the…
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recycle
I don’t earn enough to
pay tax so can I recycle my pension money to get tax relive I tuck my tax free
cash in 2018 which payed of my mortgage the pension I get is less than
12500 pound allowance my wife has not retired and still
gets a good wage that we live on I am 63 so won’t get state pension till I am
66 I what to live…
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Retiring at 62
I intend to retire next month at the age of 61 ( will be 62 Feb 2021) .I have my state pension forcast of £164.16 per week as of April 2020.Made up from 46 year Full contributions I do not intend to work again and I would like to keep contributing to my state pension to achive the £175.20 per week max.in 2024.I have heard…
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LGPS, SIPP & tax
hi im aware if I don’t take a TFLS from my SIPP I can withdraw annually £1666 and not pay tax but what I’m puzzled is if I’m receipt of my LGPS can I still withdraw from the two to total 16666, I won’t be any taking any TFLS on LGPS other than the pre 2008 (which I have to apparently) thanks
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Stone dent in campervan roof
We have had a quote of £2042.00 to get a small dent fixed in our campervan roof. Is that too expensive or about right?
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Nearing LTA + salary sacrifice
Hi all, Currently , I am paying approx £20K p.a into my DC pension salary sacrifice to reduce my 40% tax to 20% , and my employer pays in 9% on top. I also pay child maintenance to my ex, and I save approx £2K p.a this way because I am not earning as much in their eyes. I have transferred my old DB pension into a SIPP ,…
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IVA & Pension
Long story short, my husband and I are in an IVA with PAYPLAN 2 half years in, my husband has been laid off work due to an illness, our IVA payments have been reduced slightly for a short time, so money is very tight, however my question is , Can my husband pull 25% of his private pension, I understand this is tax free !?…
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Breach of Data Protection
I have discovered that my employer has incorrectly informed my pension scheme that I have changed home address; so for the last 2 years, my pension statements have been sent to this random address. The pensions scheme have admitted this breach of data protection in writing to me. I have only discovered this mistake as I…
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Pension Charges
I have a pension with Nest. Not huge but I have started making contributions and notice they deduct a 1.8% charge on any contributions I make. Albeit I haven’t paid that much money in but if I did make a larger contribution in future it would be a fair amount. My question is how do NEST charges compare over all with other…
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II - fees removed for drawdown
Seems from October II will no longer be charging fees on drawdownhttps://www.ii.co.uk/changes-october-2020?utm_source=IBMW&utm_medium=email&utm_campaign=Test - Terms of service update - VIP version - 250820&utm_content=&spMailingID=10347257&spUserID=NDM0OTQ0MDQzMDc5S0&spJobID=1575475429&spReportId=MTU3NTQ3NTQyOQS2 They…
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25% tax free
Hello...I am planning to take my tax free lump sum from from my DC pot leaving the remainder to hopefully grow. Question is,is any future growth 25% tax free or is it all taxable
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LGPS or other
Hi, i pay into a LGPS which im quitr happy with, it looks like a good scheme. By the time I retire I will have paid in for 35 years. my husband has only ever contributed recently when it became compulsory. He paid an extra £100 month for 2 years. hes now at a new job and he pays 5% and employer 3%. We would like to overpay…
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What is savings credit please, when attached to a pension?
Hi, please can someone explain about savings credit. I have Googled and Googled and I can't make any sense of it, I have also searched posts on here etc. My Dad is in his 80's and was widowed a few years ago. He has no other income apart from his basic pension and this 'savings credit' bit extra on top of it. He has no…
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Fidelity SIPP fees?
For anyone who has a Fidelity SIPP, can you please tell me where the fees are taken from?I know they have a cash account, but is that inside the SIPP? Can you deposit cash that gets uplifted with the tax relief to pay for the fees, like you can with HL?What's the minimum deposit, can you pay in £20 to pay the fees to start…
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Pension Bee
Has anyone got any thoughts about PensionBee? Need to amalgamate several pensions.
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Spreading risk between funds....
I currently have the following investments in my SIPP: £65k in VLS 80 £65k in HSBC GS Dynamic £40k in Blackrock Consensus 85 £30k in Blackrock Mymap 6 From what I could see there wasn't much difference between consensus and Mymap as they are both an active management of index trackers. However the Mymap had cheaper fees so…
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Old DB pension query
Hello all, I have an old DB pension from a company that I left in 1998. I have received an estimated retirement option from them this week stating a full pension of £5,753 at aged 60 (next year) Now, I have a Preserved Pension Certificate from when I left the company which states the following details GMP (at date of…
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How much pension will I have with this...
Hi, Having looked at pensions & re-evaluating life following covid lockdown, I have finalised & got figures on current pension situation and wondered how do I roughly work out what pension I will receive from this, aged 40 retiring age 60. TPS 2015 Scheme 3 year-buy out, to receive it all at 65 without reduction. Currently…
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How do I find what pensions someone receives?
I need to find out what pensions/pension credit my grandfather receives. Let me explain the situation: all my grandfathers finances, pension, etc were looked after by my uncle (my uncle was my grandfathers carer as my grandfather is immobile). My uncle died suddenly this week and we cannot find any important documents…
