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Salary sacrifice pension / pension or mortgage overpayments
Hello all, I have two questions if I may? 1. My pension through work is a salary sacrifice scheme. My question is, according to HMRC what is my actual salary? Is it my full salary before my pension is 'sacrificed' or the amount once I have sacrificed my pension. For example, for ease of maths, if I were on £20,000 per year…
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SIPPS ,the LGPS and other questions
Good morning,I have a few questions about a possible retirement this year for myself and my wife - henceforth known as Mr and Mrs X.Mr X: Age 55, Full-time employed, salary c.£50K LGPS DB pension which will pay around £30K at SPA, and about £12.5K if taken this summer (not going to even inquire about CETV)LGPS AVC worth…
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Using civil service added pension calculator (its screwed)
Hi, can anyone help me please? Looking at the CS alpha added pension calculator on their website and the guidance page is blank. It asks 'what sort of pension do you want to buy', 'how would you like to pay for your added pension' which look like they require text answers. I really want to find out how much it would cost…
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First pension for self-employed 47-year-old
Hi, I’m a 47 year old self-employed dog groomer and looking for a pension. I’ve never had one before so I have no clue what I’m looking at or what to choose. When I started dog grooming 2 years ago I began to save in an ISA for my retirement. My husband had a really good Final salary pension so we thought we’d be ok on…
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Options with additional private pension
Hi everyone, I have a private pension with Aviva (mixed investments) that I've not paid into for years. I have been working in the NHS for around 5 years and have been contributing to the 2015 scheme since I started age 30. I don't have much built up in Aviva fund, and its predicting a yearly estimate of only £80 per year…
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Perspective IFA
My local IFA is selling up to these. I've spoke to my usual contact and have been promised keeping on the same terms, no tie-in, full IFA status/whole of market and no exit fees if I should decide to leave. I've yet to receive the paperwork to review it Anyone have any experience with these or knowledge of them?
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Query about lump sum payments
Probably a bit of a stupid question but how do pension lump sum payments work? I’ve only ever had a work based DB and a DC pension where I have salary sacrificed money every month so don’t quite understand how any lump sum payments work. I’m watching with interest any potential change to pension policy from the UK…
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Retirement planning advice needed I'm absolutely CLUELESS!
So I have spent the last 20 years saving as much money as possible to buy my own property in London, literally nothing left to spare and well I did it. However now I'm faced with no future savings plan, so that is my next task. To somehow start something, anything. I know I'm very late but I'm hoping doing something late…
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58 years old. Any point in starting to save for a pension now?
Hi all and Happy New Year!!!I've had issues in the past & lost all of my pension contributions a few years back - long story, but basically I now don't own a home - we rent - and don't have any money put away. We've got ourselves back on track & I've a job that offers a pension scheme (Company is called Nest, if that makes…
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POA question
I hope this is not too off topic for a pension forum.. I realise to apply for POA the donor has to be of sound mind. For a slowly deteriorating mind this date can be hard to specify Is this date the point when the POA is registered with the Office of Public Gardian...? ...or when the completed/certified POA is registered…
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Please sanity check my knowledge of AVC's benefits
Hope someone can inform me if my somewhat limited knowledge in respect of AVC's is correct before I consider changing my current investment plans such as they are. For the past eighteen months I've maxed out my DC work pension to 20% of base salary, with my company adding in another 10%, this is about 30k per annum. In the…
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Extra tax free cash lump sum - too good to miss?
My wife took voluntary redundancy a few years back. Under the terms of the VR she is able to draw her final
salary /defined benefit pension at age 55 (instead of 60) without any reduction. She also has an AVC fund of circa £90k She’s now approaching 55 and has just received a ‘pack’ with
her pension options. Her mindset…
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Basic Pension Question - sorry!
Hi all, I'm a self employed (sole trader), married female, 45, on a low income. I'm paying voluntary NI contributions to keep on top of my state pension levels and I have a small nest account which I pay £100/month into, on the basis that anything is better than nothing! I'm looking at increasing my contributions to…
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About to release 25% of private pension
I have had an initial phone call to release 25% of my private pension ( my choice). The next step is another call which apparently can last up to one hour. As far as im aware Scottish Widows need my bank details plus what i intend to do with the remaining amount. I have not recently contributed and no longer wish to…
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Barclays bank Pension
I worked for Barclays Bank from July 1974 to July 1978 after I left school. I am trying to trace whom I should contact to find out what happened to my pension for that time. I have been on the government website and found it confusing.Thank you
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Tax on private pension .
My wife was a 41% tax payer in scotland until she took early retirement in august 2020 . We had done the calculations and choose to take a pension of 12k annually plus a lump sum . We also knew until she wass 66 she would not get oap but planned to use lump sum now and again until this happened . She gets £850 per month…
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Starting SIPP with 20% uplift
Hi I want to put a lump sum into a SIPP or similar pension and get the 20% uplift. I earned £7000 in the year ending March 2020 and can put that in if I can, I paid in £2500 pension contributions from my salary and employer paid in £3500.Does anyone know a suitable lost cost SIPP or drawdown pension and how much maximum…
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HL SIPP
I have set up my bank details and the monthly amount, £600, but will this be like a direct debit, or do I need to add the money myself.There is a helpline, but always busy.So the cash to be held on account pending investment is £600; but surely it will remain as cash untill I buy shares or unit trusts with it?
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L&G workplace fund
Further to a previous thread I have been thinking about my pension investment fund quite a bit but still unsure of a couple of things. I'm 49 with £60K salary, currently no mortgage or debts. I have a Legal & General workplace pension L&G PMC multi-asset 3 (Fund ID NTW3) current pot value £112K (started pension late). This…
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Should I change SIPP provider?
Hi everyone. New member. I took advice from an IFA and pooled two pensions into a Standard Life SIPP three years ago - with their Myfolio pension fund as the sole investment. Gradually I started adding my own additional investments, which performed much better than Myfolio's steady but slow gaining slogger. This year the…
