-
How can i benefit from pension if i work only few years in UK
I am a 29 years old Romanian, and i am not sure for how long i will stay to work in UK, i understand you need to need minimum years to benefit from pension. If i will work here for let's say 5 years i pay for basic state pension and nest, what happens with money from the pot pensio nest and basic state if i stop working?…
-
My pension - thoughts and feedback
Hi all, I’ve spent many years reading this forum and
have taken some great advice over the years. I feel I am now at the point I
need a sanity check from the forum as I don’t feel my retirement strategy is on
point and needs some changes. In short – 35 years old, married with 1 dependant.
Limited company director so take…
-
Who will accept a DB pension transfer?
Hi All, First time post but long time reader. I am considering a transfer out from a final salary pension scheme I left the company more than 20 years ago and have a CETV of around £150k. I understand I need to take professional advice from an advisor and am well aware of the benefits and the pit falls that come with a…
-
Retirement\Saving Planning
Hi, I am posting to seek tips or advise in relating to saving and planning for retirement please. I have two children and I intend to retire at 65 or sooner if possible and would like to ensure I am investing spare cash in the right places to support this. e.g Should I invest more into stocks shares isa or pension etc? * I…
-
Savings and pensions
Hi all, another new one here asking for a bit of advice. We are looking at saving for our retirement and hope to have about £350000 by the time that day comes. The problem I am having is that it means I wouldn’t be entitled to a state pension, but it’s not enough for us both to live on if we make it past 10 or so…
-
Retirement planning, shortfall between 60 and 67
Me and my wife both have full workplace pensions that payout at age 60 and if possible we would like to retire then. Our state pension is payable at age 67. The two combined are sufficient for us to enjoy a good retirement. We also own our own home without mortgage but plan to sell and move to rented or seriously downsize…
-
New workplace pension provided by Aviva Mercer
Our workplace pension is to be transferred shortly to a new provider - the Mercer Master Trust. My company will have its own section within Mercer, and it's own selection of funds to choose from (including a default fund of course). On first analysis at looking at all the funds available (about 40 to choose from), I'm…
-
40k annual allowance
how long has it been capped at 40k ? for those who know lot more than me on this subject, is it likely to increase over the coming years ? cheers mick
-
Defined benefits scheme, 2 questions
Hi all. My OH has NHS scheme memberships in both the final salary (1995) and CARE (2015) type schemes. I usually help with admin relating to these, and have spotted a couple of anomalies that I didn't think were possible, can anyone help with seeing where my logic is flawed? 1) Annual summary of annual pension accrual in…
-
How do I find any/all of my pensions
Hope someone can help or advise please. I have a small pension plan that I feel has moved around a fair bit and I have lost track of it. Can I please ask how I can find out where all of my pension money is, preferrably for as little cost as possible? Thank you for your help F x
-
Very basic INC vs ACC question
I have a
small drawdown SIPP that I’ve been running for a few months. It is pre-loaded
with various funds (long story), a few of which I’ve switched out for some
favourites. Many of the funds are INC as opposed to the ACC
that make up my S&S ISA. I have been getting a small income from the INC funds but they are…
-
LGPS ill health retirement vs Capabilty
Hi, someone please help me to wrap my head around this. i am 42 with a serious spinal injury I have been an LGPS member for 20+ years Im pretty sure I will qualify with Occ Health with a Tier 1 / Tier 2 retirement ill health decision. (Easily provable medical evidence) The issue is my employer, they will walk through fire…
-
Best SIPP for cashed in DB pension
An IFA is currently going through the motions for a small DB pension I'm cashing in. It will be worth about £100 k. I want to spend some, stick some into our VLS60 ISA's (we have about 15K left of this years allowances) so would look to top them up and next years within taxable allowances of course... and basically have…
-
Life's swerve ball ..how to correct it?
Hello All, I posted on here a couple of years ago as I was looking to get info on routes to increase pension provisions following my better half's Parkinson's diagnosis. Good news.... I received fantastic help from forum contributors, to the point that I was able to make the jump and 'retire' at 54, to become a full time…
-
Cash in pension
hi everyone. I am an OAP and want to cash in my remaining pension pot to pay bills. Pension company has said this is illegal due to government rules in 2016. But they cashed one of mine in in 2018. Any advice please
-
Drawdown - 25% Tax-Free Options/Rules
I have a SIPP and am at an age where I can commence drawdown. I don’t envisage finding any more work, but haven’t totally given up on this and for that reason, I’d like to access part/all of the 25% tax-free element first in order to avoid the £4000 limit on further contributions.If I understand my IFA correctly, I have…
-
Is it worth paying extra into state pension?
My partner reaches state retirement, aged 66 in March 2021. To get an additional £10 a week on his state pension he needs to pay £2336 (three years NI). He has quite a number of missing years due to opt out and retiring early but the only years he can pay are 2017 - 2020. His opinion is that it isn't worth it as either his…
-
Take DC or DB first
Just turning 55 so can access my pension pots and need a lump sum to clear a Mesher arrangement but want to be able to continue to maximise payments into the DC schemes without recycling limits. If I access the closed DB scheme from a previous employer now I would have a much bigger lump sum than I needed but as I…
-
10 year pension plan
Hi everyone, complete newb here, but I’ve been reading and digesting for a while now and I think I at least know which questions i’d like to ask your help on if you don’t mind? Background.I’m 52 my wife is 47, both rounded up.We have a 53k mortgage with no other debts outside regular bills. Half the mortgage at 2.6% ends…
-
When should I stop paying voluntary class 3 NICs
On taking early retirement I had 37 complete years of NICs but starting with the year the NSP was introduced I have been making voluntary class 3 NICs to increase the pension I was forecast to receive.My pension becomes payable on 29th March 2023 Am I correct in thinking that contributing after 2021-2022 would be pointless…
