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Drawdown Pension Transfer Experience?
Interested to know whether a transfer of an existing drawdown arrangement (crystallised and uncrystallised) to an alternative provider would be a relatively simple process please, if at some stage this would be sought?
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Retiring April 2021 - Second opinion on our plan please
I have been following the posts/threads on this forum for many years
and making a small contribution where I can. I have learned loads from this forum. The
clock is now ticking ... finally we will retire in April 2021. Unfortunately,
my simple spreadsheets are in overdrive and we are wearing out the buttons on
my…
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Cost of setting up a pension?
I've recently visited an IFA. Good meeting, and the cost of setting up a pension (with them finding best pension for me) is a one off fee off £500. Does this seem a fair price? This is my first pension, so I'm not sure if this is the 'going rate' in Lancashire. I know you are able to setup so the adviser takes a…
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Phoenix Life Pension
My husband has a small pension with Phoenix Life. He received his annual statement at the end of last year which showed he was expected to have a little under £8000 IRD (which is at the end of this year). We've been n correspondence with Phoenix Life and have been told by them that, although he might want to consider…
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options for taking benefits from old Clerical Medical GAR pension
Enquiry on behalf of a family member who has an old CM GAR type scheme with a seemingly complex annuity guarantee. One option for taking benefits (from the CM scheme booklet) allows for 25% tax free cash to be taken , with the remaining 75% available to buy at an annuity at a guaranteed rate. The full value is c. £42k…
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Teachers AVC with Prudential
Hi, I am considering making AVCs of around 5% of my monthly salary (£220 approximately) with Prudential. I also have my Teachers Pension. I have just turned 30 will reach normal pension age for the AVC in 2058. Can someone please explain the pros and cons to making such contributions? Is it worth it? What kind of return…
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Lifetime Allowance Management
Planning to take DC pension early via drawdown, but am already aware that upon taking DB pension in a few years time that I will have exceeded the LTA, based upon current DC pot, then also projected DB. Present thinking would be to crystallise a small percentage of the LTA at start of drawdown (taking a tax free element,…
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Fidelity SIPP in drawdown costs
After cogitating on some information from Cloud Dog in a previous
post I’m probably going to move my SIPP that is in drawdown from AJ Bell to
Fidelity. My intention is to sell the Unit trusts held in the SIPP with
AJ Bell and transfer the SIPP over to Fidelity and invest in Investment trusts. If I draw out a regular amount…
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Prudential service is causing me real issues (long)
Hi, At this time I feel I have nowhere I can turn to fix a situation that I find myself in with Prudential and any advice would be great. I finished work on the 31st July 2020 after working at a university. My pension provider is Hants. I paid AVCs for several years and the provider that Hants uses is the Prudential. In…
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Transferring into NHS Pension Scheme (Help)
I have been on before asking for some help regarding this so I apologise in advance. I have approx 28K in a DC pension scheme from previous employer. I currently work part time for NHS (only 10 hours per week). Band 3. My gross pay is 5263.20 p.a. I have been trying for months to find out the value of transferring my 28K…
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DC Pension - Am I Investing Correctly @ 24
Hello, I have touched upon this in other threads but just wanted further clarification. I am in a DC pension and my current contribution is 6% with my employer matching that 6% at 24 years old. My pension provider is with Aviva and I am currently investing 100% of my pension in their ‘Global Equity FP’ fund. The scheme has…
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Australian pension transfer back to UK
Hello - I reached my preservation age (58) this month, transferred my Australian pension account back here to the UK - I have just received a letter from the Australian fund stating they have withheld some $30k and I need to submit an Australian tax return. I left Australia over 8 years ago & have not submitted a tax…
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SIPP?
I know very little about pensions or investing but I'm reading up as much as I can although it's a struggle to understand it. I set up an isa with vanguard life strategy 100, due to kick in next month but I'm thinking I should maybe opened a SIPP instead to benefit from the tax benefits. A few questions. Do I need to say…
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Pension in divorce
Hi I am going through a divorce and giving away 3 and half times the equity of my house to my wife via a remortgage (190k). Has any been in similar situation, what is a reasonable amount of my pension pot to give away percent wise. I have 20 year in it so half way through. Thanks
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Salary Sacrifice and Tax Relief
I have a Royal London pension that both myself (7.5%) and employer (5%) contribute to which is through salary sacrifice and I am a higher rate taxpayer When I look at my monthly pension contributions they work out as 12.5% of my gross salary which seems fine (I don't think the employer passes on their NI savings) My…
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When to stop paying into a pension?
I'm 41 and have 310,000 in a SIPP, earliest I can retire is 58 and am contributing 14,000 pa into my company pension scheme (Me 5%, Employer 10%). Using a compound interest calculator, I'll have 1.1m by the time I'm 58 at 5% interest per year. I'm not sure 5% is realistic as I've doubled my funds every 4 years even with…
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DHL Voyager Pension - any help or advice welcome!
I will try and keep this short. I cannot believe how stupid I have been. I held a small DHL Voyager pension and I attempted to transfer it to another provider (Friends Life) at some stage between 2011 and 2013. It didn't get done but I don't remember why. In early 2016, after moving house, I decided to try again. The…
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AVC to purchase LGPS additional membership or additional LGPS pension
The council I work for is moving from AVC to SSAVC scheme, no problem is that. The question is do I move to the existing AVC pot to the new scheme or leave it where it is.Because the AVC was started before 2001 (late 90s), it could be used to purchase additional council pension in the old scheme, but will have no effect on…
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LGPS Teaching Assistant pension
Need a few pointers if anyone knows please, My wife is a TA at a small school, 44, has been for 5 years. She contributes 5%, employer contributes substantially more - great if you can get it! She's allergic to knowing about pensions and doesn't want to be bothered, i however am 53 and will be semi (16 hour minimum wage job…
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so the plan now is..............
as some of you may know I was a little concerned as to whether i was doing the correct thing with my pension fund. the plan now is to retire at 65 but can not draw state pension till I'm 67. so I will draw on my private pension 18k a yr. then when the state pension kicks in I can reduce my private pension withdrawals…
