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Shall I put money in my LGP pension pot or invest in ISA
Hi I have 7,000 that I had in opted out serps pot...is this better used for an ISA or better in my work pension scheme. It's time I did something with this money as it's earning nothing . I am 60 with 16 years in local government pension pot . All advise welcome .
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Pension benefits
Hi I am shortly taking voluntary redundancy. I have been asked to fill in a series of forms relating to my final salary scheme which was finished a couple of years ago, and I had to join a money purchase scheme. My final salary scheme was fully paid up. I have only paid a fixed percentage of my wages into the scheme from…
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Pension tranfer - what would you do?
I know this type of debate has probably been done to death but I am keen to get other's views on this matter. Ok so the long and short of it is I am 44 yrs of age, I have two pensions - a DB pension (from a previous employer) and a DC pension (with current employer). The scenarios are as per below: DC Pension- Contributing…
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Potential portfolio analysis
I've been working on a potential investment portfolio for my £190k pension drawdown pot - I will not be touching this part of my portfolio for at least 8 years. There are 7 funds in the portfolio, two passive and the remainder active. Five are Mixed Investment (2x 0-35% shares (35% of portfolio) , and 3 x 40-85% shares…
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Multiple trivial (very) pensions
Hello, I've searched the forum and can't quite find an answer to our query. My Wife (63) has worked for a variety of employers over the last 10 years or so since leaving her local authority job, (from which she currently receives a small pension). Consequently she has a number of very small pensions, (each having a…
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Have I Overpaid into my SIPP?
In 2019/2020 Tax Year my gross pay was £9,529.34 and I paid £9,529 into my SIPP and received £2,382 tax relief. My understanding was I could pay 100% of earnings into my SIPP and receive tax relief, but having just read another thread I think I may have been mistaken and the maximum I could have paid in was £9,529…
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Ethical Personal Pension Funds
Hi Everyone I am looking to transfer my current personal pension to a more ethical pension fund as having looked into more detail at the companies that my current pension is investing in, some are questionable from an ethical viewpoint in my humble opinion. Unfortunately I am not knowledgable enough to take out a pension…
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Corporate Finance Bonds Issues 8 and 10
Has anyone experienced this:- We invested our Pension with advice from Huntsman Hawkes Managing Director, who despite us asking for flexibility to draw down our money as and when we saw fit placed our money into Corporate Finance bonds which unknown to us were tied up until 2022. This then changed and the bonds were…
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Superannuation or pension fund in Australia
I moved to Australia in 2001 but returned to live in the UK in 2009. Whilst living in Australia, I transferred my UK pension pot to a managed fund in Australia as I fully intended to remain there and retire there. Things changed! I got divorced and returned to the UK where I've remained since 2009. I do not intend to…
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Over-contributing to SIPP?
I'm currently drawing my (small) Teacher's Pension, and I'd like to contribute to a SIPP. I can afford to contribute £20000, due to a gift, but my self-employed earnings this year aren't likely to exceed £27000. Can I put £20000 into my pension or will I be contravening the regulations?
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LTA and PCLS vs UFPLS
I am 55 and am looking to take income from a SIPP invested with AJ Bell. * Value 1,5M * LTA of 1,4M ie a 0.3 enhancement certificate from HMRC courtesy of time spent overseas * additional BTL income of 15k pa net , in wife’s name Full state pensions , a small DB scheme in 5 years for wife. * outstanding residential…
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Lifetime allowance
Hi all Just received my 19/20 statement and want to be sure I'm reading it correctly. It says I've used 42.48% of my LTA and the standard allowance was £1.055m for the tax year. Does this mean that I've got £448k invested in my pension? Thanks
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lump sum at age 55
I will soon be 55. NHS worker since 1990 and in that pension scheme. Some years ago I bought AVC through Standard Life and paid in for a few years. Nothing paid in for maybe 25 years or so. Got a letter Standard Life recently - says my pension pot is £6,500. Retirement date is 2030. Booklet mentions taking some/all of the…
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Is a DC derisking/"Lifestyle Strategy" worthwhile if I intend to drawdown?
Morning folks My various (former & current employers') DC pension funds all seem to plan a lifestyle strategy of derisking - moving out of equities and into bonds/cash - on tapering basis in the 10 years before my selected pension age. This seems a reasonable strategy for people intending to buy an annuity but not for my…
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Income drawdown benefit review
I see that my SIPP is being charged a substantial sum for an "income drawdown benefit review". Is there any way that this pointless review can be avoided ?
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GMP pension estimate and revaluation in deferrment
I have a deferred pension from employment between 1990 and 2000, and am having problems understanding a recent estimate of benefits from the pension scheme. The employment was initially Civil Service, but was privatised about half way through.I received a letter from the scheme in 2013, saying that on leaving the employer…
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Transferring Teacher's Pension to LGPS?
Hi, I started teaching in 2008 and have 8 years of Teacher's Pension saved. Following a career break I started a Local Authority role last September. I have 10 days to decide whether or not to move my teacher's pension over to the Local Government Pension Scheme. I have no idea how to even begin to make this decision. I…
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Can't get IFA advice to transfer a small DB pension short of 12% fee. Ideas?
I am 18 months off being 55. I have tried for 3 years - every time the 3 months 'free transfer window' opens - to transfer my small (£36 pw at age 67) DB Universities Superannuation Scheme pension to a DC pension, without success. Short of the quoted 'industry standard minimum' £5,000 fee for FCA-compliant advice - which…
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'Cashed-In' Pensions
Hi there Can anyone tell me if I need to keep any of my old Pension paperwork once I have cashed them in & am now drawing it? [FYI - I had 3 that were added together. I took my 25% tax free lump sum & the balance was transferred to a single provider from whom I now receive a pension.] Thank you!
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Shall I use tax free pension draw down to clear credit card debt?
Hi, I'd really welcome any thoughts... Due to corona virus I can no longer service my credit card debt of £55k. And I can't be certain that situation will improve. I have no other debt (that's enough!). I have sought advice from a number of debt management organisations and have been advised with a variety of possible…
