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Salary sacrifice 40% or 20% tax
Hi Currently have two pensions, one through my current employer which is a salary sacrifice and a second one from a previous employer from 25 years ago which I make additional monthly contributions to. If I’m a higher rate tax payer but my salary sacrifice reduces my sacrificed salary to under £50k, am I classed as…
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Trailing, Rolling, Annualised, Discrete?
Could someone please explain what is the best way to analyse a fund's past performance. For example looking at a fund's history on iweb, they usually give discrete, trailing and annualised percentages for 3, 5 and 10 years. I sometimes see the word 'rolling' also, so I wondered what is the best way between these 4 sets of…
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Saving for pension vs saving for children’s uni fees or property down payment
Can people share their thoughts on how to strike a balance between saving for pension vs saving for children’s uni fees or a down payment for them buying a property? would you maximise pension and let the child take a student loan until you retire and then you can help them repay the loan? Helping for property purchase…
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Cashing in portion of my annuity
Hi I have fallen on hard times and yet have a substantial annuity which I am trying to cash in a small percentage. However the company who hold my annuity are telling me this is not possible. Where do I stand Regards
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Retirement Pot From Nest Pensions
I retired at the beginning of December 2020. I have been making payment in to Nest pensions for a few of years. So I went on to their website. Pension pot was only around £2,500 with meant I would only be getting about £10 a month. So I decided to take the money has a lump sum. Now I'm not an idiot but I could not work out…
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Retirement age
Hi..I am 63 years old and been employed by my current employer for 10 years..just read through my contract and note that it states I will be due to retire in the month of my 65th birthday.question is will I be able to claim any benefit for the year until my pension becomes payable on my 66th birthday? Many thanks
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Portfolio changes
Hi Just had my porfolio review with my ifa which has resulted him in recommending a number of changes now proposing , 14.29 brewin dolphin mps income 14.29 fei hybrid standard life risk level 2 medium term 14.29 hsbc global asset mgt conservative portfolio c acc 14.29 lion trust fund passive moderate s acc 14.28lion trust…
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Analysis paralysis - do you think I could stop working soon?
Hello - this is my first post so please be gentle. I've really enjoyed reading the threads on here for the last year or so - particularly the Marine Life, Sea Shell and Number threads so thank you for all your insight and sharing your experiences. I've learned lots! As the title suggests I think I'm suffering from analysis…
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Pension Tax Advice
I will be drawing my State Pension later this year on my birthday and my DBS pension will also start at that time on my retirement from work. My query is with regard to how my tax will be deducted. I will be a basic rate payer. Will my pension provider deduct both the State and DBS pensions tax from my monthly payment with…
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government pension HRP
hello forum I am short on my pension, after talking to NIC & pensions people I was told I could claim for my youngest child til she was 19 because she was in approved education. So I wrote tos NIC for the missing 3 years I am using HRP ( home responsibility protection ) for parent who reared children and did not work. they…
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Civil service pension
If returning to the civil service is there anyway to avoid the Alpha pension scheme?
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Goverment Pensions Woman
I am70 years young Why all though I worked on and off up to retirement, taking jobs with small stamps but for the last 20 odd years I paid full stamp, but when I retired, i got the £98.pension. I took time out to look after my children ,then only worked were i could fit it in with school holidays. I am married,51 years…
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Accessing private pension early
Is it possible to withdraw a private pension early? I currently have a private pension with Aviva that was built up by my previous employer making salary deductions and adding their contributions to it. It’s a relatively small amount circa £10000 at present and I haven’t added anything to it for some years and I now have a…
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CIS Pension Royal London GAR
I
contracted out (SERPS) with CIS about 30 years ago and my policy is now managed
by Royal London, it’s currently worth £97k. I have moved several policies to
Aegon where I can view performance on a daily basis and switch funds whenever I
like, however with Royal London I get one annual statement and there’s only one
fund!…
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Max pension contribution (gross vs net) and taxes above max
Hi,I have couple of questions about how to calculate the current contribution and about taxes for contributions above the maximum. I invest in a SIPP. 1. How to calculate maximum contributionIf I top up, say, £10,000 the government adds 20% and this additional contribution is automatically added by my provider so my actual…
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Where can I find out what my father's state pension is made up of?
Hi guys, hope you're well at this time (sorry, that's the habit of seeing all my incoming work emails :D ) I'm trying to find out what makes up the value of my father's state pension. I know he's on state pension, and attendance allowance, but I'd like to get to the very bottom of what else makes up his monthly payment…
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Should I max out pension before ISA?
Hi all, I am a pension newbie, and very confused by pensions generally. I have been auto-enrolled in a pension plan with my employer, whereby I pay 10% of my gross salary into a pension plan every month. Having just started a new role where my income has increased, I considered maxing out my (stocks and shares) ISA…
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Pension credit
Can I work part time while I have pension credit guarantee
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Pension provider messed up the tax when I cashed in Pension Pot
Hoping someone can advise me on this worrying issue. I cashed in a DC pension in April / May 2019, to pay off my outstanding debts, as I was approaching retirement in September 2020 and wanted to clear all unnecessary outgoings. I also had another pension with a different company which would supplement my State Pension. On…
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Options for Early Retirement Plan
Hi all I'm an unsophisticated saver looking for inspiration and ideas about making early retirement work please. Status I have various defined contribution pension pots worth about £248k spread roughly as follows: * 11% low risk fund * 75% med risk fund * 15% med/high risk fund Additionally on the pension front I have an…
