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Scottish widows options at retirement
Hi all. Well it's my last week at work - exciting and scary! My workplace pension is with SW and I've looked at the fees vs other platforms and they seem reasonable compared for the sum I have invested. I'm sticking with their portfolio funds. I will need to take out £25k this tax year to cover expenses and then plan to…
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Which AVC provider?
Looking online, at my local government pension, it lists contact information for The Prudential and Scottish Widows for the AVC.So I am learning more about AVCs, its like a bank account for your AVC payments, that you access once you retire. Is the AVC money then invested in the stock market?Can you choose any AVC provider…
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Voluntary redundancy from LGPS (Scotland) at age 54
Hi, my wife has the opportunity to take voluntary redundancy from LGPS in Scotland, but is only 54. Am I correct in thinking if she does take voluntary redundancy, as she is under 55, her pension will not be paid immediately without actuarial reduction, and will become deferred? If she then decided to take straight away,…
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Percentage of savings into my pension and isa
I have searched the forums and found lots of useful information regarding both pensions and ISAs but not an exact answer to my query. I am 49 years old and have a small pension pot and a small amount in a stocks and shares ISA My aim for both is to save for retirement (naturally). I currently split what I save in the…
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SIPP contribution confusion
Hi there I have just transferred my old style personal-pension to an online SIPP provider. The transfer was done as cash, not in-specie. Now I have a cash lump sum (over £40,000) credited to this new SIPP account from which I can chose a portfolio in which to invest. My question is: For tax purposes, is this lump sum…
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Selling funds in a SIPP
I have a SIPP with Interactive Investor, solely composed of several funds (actively managed and trackers). Given the recent volatility of the market I have been trying to at least stabilise the SIPP value by selling funds and holding in cash for a while. However, it seems I have little control over the price I sell at. On…
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Tax return-calculating gross pension input?
Apologies, its been asked many ti,es but just checking, for the tax return for my sipp,what figure do i need to be putting in there and how do i work it out? Maths is not my strong point.. thanks
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Pension questions
Hi, pensions are most definitely not my forte and I have some things I am unsure of. I'm female. My State Pension forecast is full pension at age 66. Every year I get pension info thru the post about a pension I had many years ago. I decided that at the age of 63, I should really try to get some understanding of it so last…
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Pension questions
Hi, pensions are most definitely not my forte and I have some things I am unsure of. I'm female. My State Pension forecast is full pension at age 66. Every year I get pension info thru the post about a pension I had many years ago. I decided that at the age of 63, I should really try to get some understanding of it so last…
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Over pay pension
If I exceed allowed annual allowance by £50k lump sum payment, but did not claim tax relief, is there additional tax to pay. Assume tax relief would have been 40% if claimed, and 40% would be the rate paid if a tax charge was due.
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First Year State Pension Tax Code
Although I retired early and have been drawing down regular amounts from my Private Pension, I have just received my first State Pension payment. This appears to have triggered a change in Tax code which has resulted in me being put on an emergency code because they have coded in a full years State Pension although I will…
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Best investments for a drawdown account?
In theory, the idea of maintaining one's pension assets in a drawdown setup seems to me to be a good one, assuming that your capital can generate enough income to meet your ongoing withdrawal requirements. With that in mind, would it not make sense to use Inc type units rather than Acc? Then the 'natural yield' would be…
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Late son pension benefits
HelloWe lost our son last year.My son died on 25th January 2019He was estranged from his former partner with whom he had my 2 grandchildren and paid nearly £700 per month in child support.He worked for Alliance and paid into their retirement and death benefit scheme for approx 16yrs before leaving the company.I have been…
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Buy to let as a pension booster
Appreciate any advice on the following please. I am 52 and my wife is 50. We have a mortgage with 13 years left (£195k left) and a company pension where I submit 6% and they match it but pension pot is forecast to only give me an annuity of £6k a year at 65. My wife has a small pension from a previous job (45k) but has…
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Shortfall in national insurance contributions
Hi all, I have 30 full yrs of NI contributions & need 35yrs to get full state pension, I have been on gov pension site & can see 8 years where I could contribute, can I choose 5 of the lowest payments out of these 8 & if so who & how do I do this as unable to contact due to covid. anyone any idea please.
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NHS Pensions dilemma
As a high earner I was put off by the tax bills due to the lower annual allowance. Left the Pension scheme two and a half years ago, having received a 16% salary uplift from my employer. I am in the 1995 scheme and my normal retirement age is in a year’s time. My salary has increased by about £7000 since I left the scheme.…
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SIPP Transfer - Tax Relief
Hello, I'm at the point where it makes sense to transfer from Vanguard to II to benefit from their fixed fee. As I contribute to my SIPP monthly, will VG transfer the tax relief when it comes in or will I need to do a mini transfer in a couple of months when the last government payment arrives? Thanks, G.
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Savings & Pensions
If someone has money in savings in preparation for possible care home fees, will that effect their state pension?
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SIPP Investment query
I have just opened a Halifax SIPP account - i have everything with Halifax and content with everything i have with them so far hence my choice. What do you focus on in your SIPP or anything to look out for investment wise? Theres a few funds etc ive been looking at
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SIPP proposed move from Equities to Gilts and Corporate Bond
I am 69 and probably 2 or 3 years from taking this SIPP, which is with Standard Life. 2020 was the first year it lost money, my advisor quoting the stock market volatility. He is proposing a switch from 70% equities, to a 16% equities and 74% Gilts/Corporate Bonds, based on my reduced risk profile. (proposed product is…
