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General pension advice
I am 39 years old and have two pensions with a combined value around £81k; £27k in a previous employer 'defined contribution' plan and £54k in my current employers pension plan. I left my previous employer more than 3 years back and the pension ceased allowing any further contributions after I left the firm. My current…
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Help - hitting 55 soon - any major flaws in my pension thoughts?
I was made redundant by my second employer in my early 50’s, a few years ago. The terms were quite generous in that they allowed for me to draw my DB pension
early at age 55 without any reduction. The pension scheme wrote last year to
advise my pension pot was c£400k and my annual pension from age 55 would be
c£20k At the…
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Vanguard LS80 v HL ISA?
Hi, I have a S&S ISA with HL, which is nowhere near the 20k limit, and I also have a general account with Vanguard in their LS80 fund (acc). I only have a few £100 in this, and contribute approx £100 p/m, which I intend to increase next year. Even so, this will not take me over the ISA threshold. The aim is to retire in…
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Moved: Equity Release
This discussion has been moved.
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NHS Pension lump sum x 3 different figures
I intend to take my pension this year on my 55th birthday. I have received my statement of benefits but for each section (1995 an 2015) there are 3 different lump sum figures. I have no idea why there are 3 different ones and which ones I can choose. Could anyone explain ? Many thanks
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Any Civil Servants Out there using MY CSP?
Hi all, I've decided to stop ignoring my pension scheme and actually look into it. The thing is, I have NO idea where to start. I'm hoping beyond hope that someone on this forum is on the same or a similar pension scheme to me and can advise me. Otherwise I'm lost as the pension website (MY CSP) is an absolute minefield of…
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Tax free lump sum and ongoing tax on balance
Im starting my retirement planning and need to clarify the tax situation. Im aware that I can withdraw a tax free lump sum amounting to 25% of my pot. If i want to take a flexible drawdown on the balance after I take the lump sum, is that whole remaining balance subject to tax and will my annual PAYE personal allowance…
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LGPS tapered protection
I flexibly retired at 60 (September 2017) taking all my 37 years’ pension to date and an AVC as a tax free lump sum. I started a new one and a new AVC to be taken as a lump sum again. It would have been silly not to have done, even though the amounts are very small as I work part time now and I understand I need to keep…
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Lump sum pension
Please could someone help I have £26000 in a pension fund I'm interested in taking all of the money please can someone tell me what I would get in total in cash from this pot at the moment I get £16000 per year work I'm part time I also get £7000 from my company pension so my income is around £23000 I'm 61 years of age
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Help! Unsure what to do about my pension
Hi all, I am new to the site and I’m a little stuck about what to do with my pension. I have 17 years nhs pension and 2 years private pension. I no longer work for the NHS and currently I’m not contributing to any pension plan. I am 44 so have a lot of working years ahead of me. I was thinking about transferring it all to…
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A sense check on de-risking approach please
I’m 50, planning to retire at 55. OH same age. I have a DC pot currently at approx 400k in a previous employer’s DC default plan, which assumes drawdown from 65 and is in a multi asset fund. So far I haven’t changed the retirement date to 55 so it won’t have started de-risking, and if I do change this I have to move out of…
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Very short final salary pension
I have a final salary pension from my first job back in 1999. My salary when I left was a hefty £17,500 and I was only in the job for about 2 years. I've requested a statement from the plan as I want to see if it's worth transferring into my main pension pot. My understanding is that final salary pensions are usually worth…
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Paying voluntary NI contribution to then pay tax on income...Thoughts please
Hello I'm due to receive my State Pension next year. I'm currently due to get £158.63 per week. If I pay 2.8 years voluntary contributions I can get £173.65 per week. (payment total approx £2153) I already get 2 small teachers pensions Totaling £8843.28 pa Paying the NI voluntary contributions will give me an annual…
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SIPP Tax Relief and Giftaid
Hi, If you are adding to a SIPP and wanted to contribute the maximum to match your annual taxable earnings and receive the maximum Tax Relief should you also be factoring in any charity Giftaid tax relief as well? So if there is a "pot" of tax relief I'm able to claim based on the earnings for one year, am I correct in…
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How is tax taken from first annual allowance lump sum
Hello all Regarding a SIPP that my wife is about to access for the first time can someone tell me how tax is applied based on the following. The 25% TFLS is obviously easy and will be free of tax, however she is also taking an additional £12,500 one off lump sum which will be her personal tax allowance for this year. She…
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Contribution thresholds
Hello, I've always been a member of an employers pension scheme and when I went self employed I set up a SIPP. Unfortunately, my work has pretty much dried up as a result of the pandemic but I have been lucky enough to get a part time job, for which I'm very grateful. I asked to join the employers pension scheme but when…
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Pension - which provider?
I've been looking to change my pension provider. I've narrowed it down to Fidelity, Nutmeg, Fisher, and Nutmeg. Now I'm totally confused! I guess what I'm looking for is reasonable fees with good service and performance. My present one charges high fees, has not performed very well and not good customer service. Does…
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Defined Benefit Pension and LTA Calculation Clarity?
I have a defined benefit pension, which has a normal retirement date of age 60, a few years away. A relatively small amount of temporary pension (in addition) would be paid from the age of 60, but only until State Pension age of 67. When it comes to crystallisation and the test against LTA I understand that the pension…
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state pension looming, but my wife is younger and disabled
hi, i am due my state pension next year at 66 yrs old, but my wife will be 59, i am currently in a joint esa claim with her, she gets the support group package and disability benefit from ESA, also she claims enhanced care from PIP. I will get full state pension as i have 35 yrs of stamps, currently we also get housing…
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Basic Investment calculator
Does anyone have a basic Excel investment calculator with variable return rates, charges & inflation they could share with me please. I'd like to be able to calculate my own without using the one on Which , as that's not variable. I have one that's a basic value now, interest rate, term, compound periods, withdrawals, etc…
