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Opt out/in
Employer suggested stopping pension to help through COVID as a suggestion to help. Few did including partner. Went to opt-in as I explained a gimmick of pretending to care but actually saving themselves money. Three months lapse of asking in writing to starting paying in- no reply. Can the employer refuse to opt back in up…
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I need your thoughts please on NHS transfer
Forgive me for coming back again. This may be long. I have two pension accounts from my past employment. The two total approx 30K. I now work for NHS, for one year but only part time, basic wage is £5263 p.a. I have for months been trying to get the previous employers pots moved into the NHS scheme. NHS have unofficially…
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Covid, NHS 95 Pension and McCloud.
I thought I had everything sorted regarding my pension provision but this year has thrown a few curve balls to say the least so looking for some advice if possible. I'm 53 and work for the NHS, entirely in the '95 Pension scheme, have special class status and, up until the McCloud judgement, was protected from being forced…
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Redundancy / early retirement
I am going through the redundancy process, with my final day with the company being 31st December. i was 55 in August, and hadn’t thought about retiring so soon, but now with redundancy it is looming. i have worked for the company for just over 24 years, and have a DB pension which ran until the end of 2018. Taking the…
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Universal Credit and Pension Subsidy
Like many single working parents, I get some help through Universal Credit. Due to the taper rate (for every £1 earned, UC decreased by 63p - or for ever £1 lossed, UC increases by 63p), increasing my pension contibutions by an extra £100 a month only costs me £37 as only my 'take home pay' after pension contributions…
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Another (but different) DB Transfer Topic
Hi, I am 60 years, just been made redundant after 45 years with the same company on a DB pension. My CETV is over £1M. For unfortunate personal and family reasons my preference is to transfer. As required I have already held discussions with IFA and they agree with my proposal, also discussed partial pension options (I may…
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Pension to Mortgage Deposit
Hi,Im curently in reciept of an Armed Forces Pension and for the last 9 years I have been paying into my employers pension scheme. Now that I'm 55 I would like to use my employers pension as a depoit to buy our own home. Is this allowed and what penalties would I incure.Kind regardsChris
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Using up a DC pot
The basic question is, if I am happy to plan to use up my DC pot by say 85 what are the ways to maximize the income? I’m 55 in a couple of months. My partner is 69 and already retired with a DB pension paying £9K a year which I would get half, and old style basic state pension. I have two DB pensions that will between them…
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Transferring a DB (Final Salary) Pension – Cheapest Option of obtaining ‘advice’
Hi there, I
want to transfer a deferred Defined Benefit (Final Salary) pension into an
existing SIPP that I manage myself. The pension
CETV is over £30k so I know that I have to seek financial advice before trying
to arrange it. My own
circumstances are such that I currently have no need for additional pension
income as I…
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Household aids when old
Not sure where to put this, I guess it comes under retirement planning.I look after a 93-year-old relative who is starting to need more help.I went to his house, he didnt have his earing aid in, he couldnt hear me knoacking on the window, telephone no on receiver correctly, key in door. I ended up getting through the…
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Change of Pension Provide
I have a substantial pension fund with a defined provider and wish to reinvest with a flexible provider such as Royal London. But the law required me to take expert advice but I have been quoted over £20k to include the transfer, anyone know of a reasonable financial expert in London? Seems a lot for a few hours work?
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Deferred State Pension Interest Rate
Currently deferred state pension lump sums attract a guaranteed interest of 2% above Bank of England base rate, with this tumbling at a great rate, is it wise to sit tight at present or look for another fixed rate interest paying savings account in case the current rate disappears?
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Legal and General now ReAssure pension - what to do?
Many years ago i paid very little into a Legal and General Pension now with ReAssure. It's current value is £8,258 and the projection is that i could buy an income of £346 per year if it took it at age 60. I am 53 and have paid into a defined LGPS pension since i was 25 so have a decent pension from that. Is it possible…
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Private pension - can I cash it in
Hi I have a private pension with Zurich that I set up years ago which I don’t pay anything into anymore. It’s worth over £7,000 and I’m not 55 for another 2 years. Can I cash it in? Thanks 😊
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Pheonix Life question
My sister-in-law is in her mid-50s and is starting to look at retirement options - so I'm asking a couple of questions on her behalf. She has 2 small pension pots semi-abandoned over the years, and well as LPGS at her current job. SiL is wondering if she could use the small pots to retire before 67 - the larger pot is with…
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My pension pot
Hi Just wondering how my pot compares with people elsewhere on this board. I am 58 Private pension to date £120k contribute £200 per month Stakeholder pension £6k £30K stocks and share Isa £15K in bank not earning much. No mortgage now 2 grown up kids Work vehicle for private use. Been made redundant a couple of times in…
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When does a fund manager fund of funds make sense in a pension ?
I am a novice at the investment game in portfolio building. I am struggling a bit with some more complex (to me) fund structures as I work through the selection offered to me in my drawdown offer - L&G Pension Access Scheme. I don't like things I don't understand the purpose of - certainly not enough to invest in them on…
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NHS Pension 2015 Scheme and Part Time Work
I’m a member of the NHS Pension 2015 Scheme and I’m looking to find out the impact reducing my hours would have on my pension. There’s an earlier thread on this topic from 2014 but this is related to the 1995/2008 Schemes and I understand the 2015 Scheme is different in this regard. The official literature for the 2015…
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Athora Bond - clarity needed
Over 10 years (when my father died), my Mother turned to her bank (HSBC) for advice on some of the money she received. Approx 80K was put into an Offshore Athora Bond, where she thought the Capital would remain, and that a small monthly top up to her pension could be achieved,. However HSBC today confirmed that the Capital…
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Salary sacrifice, PILON and pension
Hello. I work for a company that operates a salary sacrifice pension scheme. I am about to leave and have been given 12 weeks PILON plus holiday pay owed. Payroll says I can put the lump sum, approx £8000,into my pension. The question is, as this is a salary sacrifice payment, is it classed as earnings?.I ask as I am aware…
