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Planning for Early Retirement - what do you think?
I last posted back in September 2018 with my plan for early retirement and got lots of interesting views and feedback. I thought it might be interesting to give an update and see whether views have changed. If you are interested my initial thread is here:…
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Can I reclaim tax on pension contributions?
I have two pension schemes one with USS and is a defined contribution (my present employer) and an L&G run stakeholder pension. I pay contribution to the USS scheme directly through my salary before tax. However, I pay the L&G contribution after my salary is taxed. Can I elect that the L&G pension contribution is taken…
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Pension or savings
By my own admission I don't know much about pension planning so I need some advice. I have been paying in to a work based pension for about 7 years, the fund is only worth 62k ( I was late to the pension game so I know this is pants ). I am female, 46, no dependants and a homeowner with about 120k left on my mortgage. I…
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LGPS Help & Suggestions
Hi folks and Happy New Year, I’ve recently joined a LGPS for the very first time and would appreciate some suggestions on the best ways to increase its value. Some info below to (hopefully) help: * I have a SIPP (approx £100k) which I have enquired about transferring in * Current salary around £15k part time (may become…
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In a bit of a pickle!
Hi, long time lurking, 2nd post. Please can people have a look at our details and make suggestions? I’ve been investing for about 20 years now and, to be honest, am in a bit of a pickle! OH is not interested in anything financial and I am obsessed. But now I’m totally confused with the complexity of our options. Here are…
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Employment status question when opening a SIPP
I have a friend who is looking to open a new SIPP, and has asked me to sanity check everything that they are doing. One thing that we are both unsure of is how to answer the "employment status" question that all SIPP providers seem to ask whilst opening a new account. Their status is as follows: * Employed for the first…
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Transfer In Specie Not An Option
Hi, I want to transfer an old workplace pension into my Youinvest SIPP but AJ Bell cannot transfer in specie as the investment is a pooled fund. Is the pensions regulator likely to do something to change this soon? I cannot bear being out of the market. Pensions should have some sort of transfer as an index fund option.…
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Are 60-40 Multi-asset funds dead?
I came across Pensioncraft videos on Youtube. A few in particular suggested that multi-asset funds with a 60%-40% split between equities and bonds were now more or less dead and no longer worth investing in. For somebody planning to contribute into multi-asset funds with this particular split, it does play on one's mind.…
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What happens to old age pension
I will reach my old age pension qualifying age in 5 years time (67). I currently receive approx. £2000 a month occupational pension. What will happen when I'm old enough to receive my old age pension? I seem to remember being told that I won't receive both pensions in full. Can anyone shed some light on this? Thanks.
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Workplace pension vs personal contribution
My friend has a workplace pension where employer pays in a minimum and don’t match their contribution. The pension scheme is not a salary sacrifice, i.e. pension contribution is deducted from salary after tax paid. They want to increase pension contribution. In this instance, does it make a difference if they transfer…
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Finally Dumping my FA and DFM and moving my SIPP to II
Hi Everyone, I would just like your thoughts and comments on my plans just in case I am totally off course. I am 54 and plan to retire in two years time. Slowly but surely I am almost there in moving all my investments away from my FA and DFM. I moved General Investments and ISA last year and now I am in the process of…
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Pension Contributons against Previous Years' Allowance
Hi I was hoping that someone could help me with this query. In previous years I have claimed additional tax relief on my pension contributions. This year I was not working between July and November and will not reach the 40% tax bracket. I also paused my AVCs and put the money aside but now I am working again I want to pay…
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Life time allowance - what do you do when you approach this?
Hello all My DC pot currently sitting in my employer occupational scheme has just hit £900k for the first time, it’s fully invested in global equities and I am happy with the risk level. I am 55 soon, but still unsure when I will retire. Other pots are a small SIPP my wife has of £80k in HSBC global strategy balanced and…
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Update personal pension contribution on gov.Uk site
I logged into my tax account on gov.Uk and see a Personal pension payment section under How your tax is calculated, and there and an option to amend. The number there is incorrect as I made a higher personal contribution this year. Should I amend it? Does anyone have experience in it, how well does it work? I normally…
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Pension lump sum
Please can someone help please I've just cashed in a private pension The pension pot was£ 27168.80 The figures they gave me are tax free £6792.20 Balance to tax £20376.60 Tax deducted £7450.30 Reamaing balance £12926.30 I received a cheque for £19718.50 I get £7500 per year company pension And annual salary is about £20000…
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Buying pension in small pots to avoid MPAA and LTA issues
Hello, I am 56, and would like to make a pension contribution of circa 25K this year. The question I have is - does it make more sense to buy two or three small pot pensions, rather than one larger one so I do not fall foul of LTA or MPAA rules? I’ve not found many pension providers who specifically market small pots? Is…
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Investment Returns 2020
Here is the performance of some popular indices for 2020 Those who bet on the stay-at-home stocks (Zoom, Peloton) did
much better than those who stayed at home with the FTSE. Those who were just into wild speculation, and put £1000
into Tesla and £1000 into Bitcoin returned 7522 + 3602 = £11,124 or +556%
