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3 year carry forward allowance (40% tax payer)
Evening, I am aware that the annual allowance is 40k (including govt tax added and employer conts ) , and that you cannot pay in more than you earn for that year. i have a query though regarding the 3 yr rule. using this handy calculator https://www.hl.co.uk/pensions/tax-relief/calculator if key in annual income as £80k…
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Merge two small pensions
Hi all kind people I have about 1.5k each in People's Pension and Aviva pensions thanks to two last employers. Can I merge them into one and would you prefer if I merged them in to PP or AP or a third party? Lastly I believe I cannot withdraw this till retirement age. If I die before would my spouse have any access to…
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Change of details for state pension
I have an uncle who is moving to another home and he is also changing his bank account. Is there an easy way he can get this changed with the pension authorities. He is hard of hearing so it would be quite difficult to do over the phone. Ideally a form of some sort which I could download for him would be easiest.…
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Prudential - PruRetire Portal
Bless Prudential's little cotton socks.... They took their portal down on Thursday evening (if memory serves me) and expected it to be back up at some point on Sunday (this bit may be incorrect), then Tuesday 17th. Ummm, whilst the portal page exists and you can log in there is nothing there, apparently it has encountered…
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Take Tax Free Lump Sum to reduce Buy 2 Let Mortgage... or not?
My partner and I own three Buy 2 Let's bringing in Rental Income, with Interest Only Mortgages on them at a low LTV. I'm "retired" although I haven't yet started taking anything from my "paid up" DC Pensions, although I'm now of an age where I could if needed. We currently just about live off my partners income from full…
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Aviva Funds
Hi, I have a standard Aviva My Future Growth Fund currently valued at £134K, which is just the default fund for a company I used to work for (can't therefore add to it), and is the type which de-risks over time. Firstly, my retirement age is listed with them at 65 - I am currently 50, and it has already moved some of it to…
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LGPS Combine or not to combine?
Hi everyone, I am after some advice please on whether I should combine my LGPS pensions. I started in local government as an apprentice in 2002. I left that authority in April this year and started straight away at a new authority. I now have the option to combine my contributions. I have read all the posts on here and it…
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Pension recovery from covid
Just thought this might be interesting to some..... my pension has just recovered to pre-covid days - took a while!
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SERPS & company pension.
Back in the day when SERPS was still running I was opted out by the firm that I worked for. It was a final salary pension. My question is did they have the right to opt me out with out my permission... Thanks in advance........
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HMRC imposed DB Pension Cap?
Can anyone confirm whether HMRC imposes a cap on the maximum pension payable from a DB scheme and how that is calculated? My company scheme's administrators have stated there is an HMRC imposed Scheme Maximum of 2/3rds of "Final Remuneration". Several years ago, they told me the Scheme Maximum was the greater of 2/3rds or…
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Thoughts on this fund.
Fund in question- Standard Life Ishares Global Property Security Equity Index Pension Fund (S/L code BBEC). I’m quite pleased how my portfolio has performed this year however this fund has dropped quite a bit. It makes up only 10% of my portfolio so the damage is limited. What are peoples thoughts on not so much the fund…
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Is there a maximum reduced NI contributions via Salary Sacrifice limit?
Is there a maximum amount on which I benefit from reduced NI
contributions if I’m salary sacrificing? Since the beginning of the tax year, I’ve been sacrificing 75%
(c.£4.2k p.m) of my salary into my workplace pension (the remaining 25% ensures
I am paid over national minimum wage). With
employer contributions added, that…
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Help with contribution calculation
Wondering if someone would be so kind to help me calculate how much my partner should contribute to his pension to avoid higher rate tax, resident in Scotland. Gross Salary: £46,450 Employee DC Pension Contribution: 5% Employer DC pension contribution: 10% I believe Scotland’s higher rate tax kicks in at £43,431 so how do…
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Pension Fund With Royal London
I have a large pension fund with Royal London, clearly I can withdraw 25% tax free but how can I legally withdraw the remainder or transfer to another fund avoiding legally paying tax. I would imagine the answer is can't but does anyone know?
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Limited company Director - pension setup?
In my limited company, mywife is director and i want to start the pension contribution to her and how to signup the pension provider? When i called AVIVA pension, they said i need to contact the tax consultant for signup. Any advise how to start the pension account, preferably aviva pension.
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How to generate an income from a cash ISA
Can anybody help with how I can generate an income from a
£42k Virgin Double take ISA? OH and I have both have decent final salary pensions, both
will get full state pension, both have enough in SIPPs and we have ample cash
savings for new roof , boiler and holidays. However, now that we are retired, we would somehow like…
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LTA protection certificate
fortunate enough to IP2016 protecting my allowance at £1250000 - i'm now in the process of crystallising my SIPP with HL which will use up approx £120000 of my protected allowance - i've printed out the certificate from IR website and sent it off to HL - was wondering what happens now as my allowance will now be about…
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Belgian State pension and tax
I am a UK resident in receipt of a Belgian state pension. Every year, I declare this income to HMRC. Last week, I received a request from the Belgian tax office to let them know of my total income (for me and my husband) for tax purposes. I thought there was a clause betw3Belgium and the UK where no duplication tax could…
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Scottish Widows Workplace Pension Review
I am 36 years old and have a workplace pension with Scottish Widows. The fund value is approximately £160,000 and I would like to see if I am on track to have enough for a comfortable retirement. I would like to retire by about 60 with a monthly income of approximately £2,000 after tax. I have a stocks and shares ISA worth…
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Pensions MOT
I recently posted a thread in the savings/investments section and it was highlighted that I should be putting more effort into understanding and optimising my pensions...it was a valid point as I've buried my head in the sand for years when it comes to pensions. So am hoping that I could get some input here, nothing needs…
