-
Voluntary Class 2 Ni Contributions
I have been self-employed for over 30 years. I wish to fill in gaps in my national insurance record. I retire next year, and due to changes in the state pension, can top up gaps up to 2006/07. I have contacted National Insurance Helpline to fill in gaps with Class 2 contributions. I have been told that usually an…
-
SW SSgA International Equity Index Pension
I was planning to move out of my SW workplace pension as I now need to drawdown and wanted a better fund range. My main target asset in Global equities through an index, coupled with a conservative pension fund such as my Portfolio 3 and 4. I've just come across this on my platformSW SSgA International Equity Index Pension…
-
Financial Advisor - how to find a good one?
I have a couple of pensions which I'd like to get a Financial Advisor to look over and advise accordingly, however I'm unsure how to find a Financial Advisor who is particularly good.Where would be the best place to start?My wife recently had a very poor experience with a financial advisor which is why I'm being overly…
-
What does "the pension was compounded in 2016" mean?
Well, exactly that really. My mum passed away in the summer and, as administrator of the estate I am trying to round up any pensions she might have had in place. I wrote to her previous employer and was told that the pension was compounded in 2016, therefore there are no benefits held within their pension scheme. Does this…
-
Small pot into DB
A friend’s wife has been looking at her pension and ran the following scenario past me. She is paid £14k pa and has been paying all her salary above her tax allowance into her LGPS AVC and then most years has been paying £8k (made up to £10k) into her SIPP. Rather than taking the £8k from her savings, she was thinking of…
-
Early retirement planning & IFA/FA
We are in the middle of settling up my In-Laws estates, they both sadly passed away within 4 days of each other in August. We’re not sure what the final figure may be yet, due to wills and 30 day clauses, but we have a ball-park figure. We feel we would like to take early retirement (each 57 and looking at 60), and are…
-
How to access pension (not state) ?
Hi I think I must be spectacularly obtuse and therefore need a lot of help! I now live overseas. I am 58, so not eligible for state pension yet. When I worked in the UK I paid into my various employers pension schemes. I have recently read that after 55 one can access this money? Not sure if this is true. I have no idea…
-
PENSION PLANNING WHILE NOT WORKING DUE TO ILL HEALTH
Hi, I currently have 9 years of a Civil Service pension and 9 years of a company pension, but since stopping work about 7 years ago due to ill health and now aged 44 and living solely on benefits I want to try and put some money away for the future. Should I start a pension even though I don't have much spare? If I managed…
-
Advice on what to do with the money from our house sale
We are in the process of downsizing. Our house was always going to be part of our pension savings. I am 51 and hubby is 58. We both have self employed pensions that we are still paying into. Hubby is thinking about starting to draw his pension from 60? We are wondering what is the best thing to do with the profit from…
-
Paying into SIPP from ISA...Good idea..?
For someone over 55, who is very unlikely to be bothered by the LTA, is there any drawback in paying the maximum permissible into SIPP from ISA. I can see the immediate 6% SIPP benefit (25% pension tax free) benefit.. the same investments are available in both SIPP and ISA. (basic trackers and ITs in Interactive Investor)…
-
Pensions. Is an IFA really worth it?
I have a simple savings requirement, not a huge amount of money to invest. Just need a pension, and to invest other finds in a mix of high, med and low risk. Could I do this myself or is it worth paying an IFA? Would they get higher returns to make their fees worthwhile? Nothing complicated about my requriements. Thanks
-
Final Salary Pension
Hi would love some advise I have got a final salary pension which finished in 2007 (20 years ) I would get 9 k per year at 65 the company have told me at 55 years old I can have tax free 30k plus pension 6K a year my dilemma is do I take the annuity at 55 ? Or could I get financial adviser to move my final salary pension…
-
Getting pension early
Hi I am interested in getting my pension early. L & G have told me I have to wait until I'm 55 (I am 51) so I googled and contacted a firm which can release it or some of it early. They then rang me from a mobile number (called Delta pensions). He explained that I can get 10% of my pensions fund and it's invested into a…
-
Paying lump sums into works DC Pension / annual allowance
1. for this coming financial year I am paying in extra high contributions (and employer 16%) , have worked out that with the govt tax relief that automatically gets added by end of March 21 the amount going in should be about 38k , so will be 2k short of the annual allowance . Question I have , is it worth paying in a lump…
-
National Insurance shortfall
Hello, i took early retirement in 2013 aged 57. My National Insurance record states I have 42 yrs full contributions, 3yrs to contribute before April 2022 and 5yrs when I did not contribute enough. Those 5 yrs are the following full yrs after I retired and suggest that I could increase my pension forecast from £136 per to…
-
35 years for full pension?
When I rang the Givernment Department to check my state pension I was informed that although I had 40+ years as I had stopped working before retirement age I would receive a lower amount if I didn't either claim for looking after dependants or pay the missing years. Can someone check and confirm this. The Man at Deot if…
-
rpi to cpi
hi all i hope someone can help me the co i used to work for i was in a db pension, the co closed it and also no further payments allowed in from 2013, moving onto 2018 it was agreed with the co to change from rpi to cpi due to costs, then suddenly the admins for the pension with trustees agreement have backdated the cpi…
-
Self Employed - Entitled to a Pension?
I am a self-employed teacher. I visit a number of schools in my local area every week. All admin including; invoicing, collection, timetabling, promotion, customer queries etc etc are dealt with by the company I work for. Myself and all other tutors are self employed and operate under a licence agreement contract. There…
-
CARE vs. DC pension
Is someone able to explain if and why a CARE pension is better than a DC or personal pension? At the moment I pay about £100 into a CARE pension. The way I understand it, every year 1/49th of my pay is put into my pension account which is about £400. However, if I put that £100 a month into a DC or personal pension, at the…
-
Pension for my child
I am trying to set up a pension for my 17 year old son. For the time being I would like to pay into it and once he has a job, he will. Can you please give me advice which one to go for? I have tried Virgin Money but they are not interested. they are not taking new customers and are not interested for the time being (word…
