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How do I find out that my private pension is growing at a steady rate?
Hi Folks This may sound like a silly question... But how would I find out if my private pension is growing at a steady rate or weather I would be better off switching to another provider? Thank you
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On the home run to retirement - give me your top tips!
Hi everyone I’m 49 and waking up to the fact that my pension and retirement is something I should really focus on. I would like to retire in around 10 years. I am going to seek independent advice but before doing that, I’m interested in educating myself and getting different views.I’m very fortunate to have a pension…
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Most tax efficient income?
With retirement savings split evenly between an ISA and a SIPP and a normal taxable investment account about £300k in each is there a most efficient (for tax but maybe other considerations too) order to take income out from each? Tips for maximising tax free allowances or withdrawing from one to pay into another?
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Wealth at Work - financial advice
Hi, I was wondering on whether anyone has any views on using Wealth at Work for their Discretionary Fund Management services? Had an initial conversation with one of their advisors and all seemed ok but when I asked him about the costs involved he told me that it was 1.5% all in - even when I checked to see if there were…
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Equity percentage in the deaccumulation phase
My investments are spread over a S&S SIPP & ISAs and some unwrapped funds and savings bonds & accounts. Cash is currently at about 15% and more than enough to cover 2 years expenditure. I will receive a full state pension in the future and have a rental property but apart from that I am relying on my investments. I have…
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Rishi after Pensions Tax Relief
Much of the media reporting again that Rishi will be going after Pensions Tax Relief for higher earners , this has been mentioned in the past but now looking more likely , considering how many must be 40% tax payers now it will have a big impact . just curious what posters opinions are of this . capital gains tax also to…
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Pension and divorce
Hello clever people I used to think I was fairly ok on understanding pensions but seem to have lost the plot and would appreciate some interpretation. I am getting divorced and we are still working through the financial settlement - amicably! We are both retired and get state pension in just over a year. I keep the house,…
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Calculation re NHS 95 Scheme Trivial Commutation Help please.
Hi everyone. I have 3 years and 58 days membership, pensionable pay of £9,387,75 apparently this is times by1/80th. I received a tax free lump sum of £1,982,36 and another lump sum of £15,860,55 and 20’/, tax was deducted from this amount. I thought 25’/, of this would be tax free but it was not. Is it because it’s a NHS…
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Independent Financial Advisors
Once upon a time people used financial advisors to pick stocks and funds. The quality of advice was poor, the level of financial education was low, but stock and fund picking required a lot of specialist knowledge and help was genuinely needed. Wasn’t that long ago when financial statements lacked transparency, and mutual…
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Already taken 25% lump sum from one pension. Can I take whole amount as small pot from another?
I have already taken 25% cash lump sum from one pension with the balance untouched in a drawdown account. I have another separate pension, can I use the small pot rule and take the whole amount from this as tax free? I would be grateful for any advice as can't seem to find a clear answer anywhere thank you.
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Pension growth question
After a sub-discussion on a separate thread I thought I would ask the following question, which I hope may also serve as useful guide to those setting up projections. By way of crystal ball gazing what do you use as a long term growth projection for your pension investments, before and after inflation and costs such as…
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Beneficiaries - "Nominate" v. "Expression of Wish"?
NEST state in their guidance that if a Beneficiary is "Nominated" the Pension Pot will "usually" be included in the deceased's estate for IHT purposes. Whereas if the beneficiary is named as an "Expression of Wish" it will "usually not" be subject to IHT. I though Pension Pots were outside the Estate either way as they're…
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Pension provision for part time worker
I'm looking to sort out the pension provision for my wife as she has recently change jobs. She works part time for a small business with only 5 employees. There is no company pension provision. She also does not pay any tax or NI contributions due to the amount she earns. My thoughts are that we should take advantage of…
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Poor Value CETV
My CETV is around £92k based on currently providing £3750 pa (I’m 56 come March 2021) I realise some larger employers eg. Banks are generous with large transfer values. My scheme is administered by Deloitte in N Ireland who are a little slow with responses - is there any benchmark as to how I can interrogate their…
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Is it true? What is a large SIPP?
In the news an article saying that for those with a large personal SIPP it's usually better to take income gradually to reduce income tax. But taking it out as a lump sum may be OK for a smaller SIPP. Is that right? What counts as a large SIPP? It offers no guidence.
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Should I keep paying additional into a pension even though I've taken out some
Hello All. Looking for some quick advice on tax arrangements and pension contributions before my call with Pensionwise. To explain - I'm in receipt of a workplace pension of 11200 p.a. (825 p.m) and I work fulltime on a salary of 40,000. I pay into my current employers pension scheme, 6% employer, and 3% employee. I'm…
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Civil service job vs private sector
Civil service job vs private sector job taking into account pensions
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Answered:How many weeks Self Employed NI contributions make a complete year
Hi Can anyone confirm how many weeks of class 2 contributions would qualify for a full year towards state pension ? I think not 52 but I've looked and can't find the answer... Many thanks Claire
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IFA Fee - Abridged + full advice
Hi All, I will 56 next March and had received some sensible advice May this year to transfer a pot and consolidate my position. 3% fee which I’m comfortable with. Roll forward to this month and I believe based on my history I should move a final salary DB (joined 1/1/ 98 - left 1/7/2001). The IFA carried out considerable…
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Trying to locate a pension
My mother worked for Barclays Bank back in the seventies . She is now retired and trying to locate her Barclays pension but Barclays Bank say they can’t find her on their records and are saying she has to provide her old payroll number which she doesn’t know . How can she locate her pension ? Barclays are being very…
