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Belgian Pension: trying to get e-ID card to work on the Belgian pension site
Good evening. Can anyone please give me any information on this? I live in the UK. I am just applying for the Belgian state pension and I think I am eventually going to have to use the mypension.be website. As I have Belgian citienship through marriage, I acquired the e-ID card. And I have the PUK number and the PIN…
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Pension Tax Relief.
Good evening all, I'm a new member on here and this is my first post so hello to all... I'm looking for and would appreciate any help on this as it's a new situation for me which I am trying to understand fully. I've always paid into pension schemes since I started work many years ago. I started to become a higher rate tax…
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auto-enrolment criteria
Are we missing something? DS has just had a letter saying he can't be autoenrolled as either he is: 1) Under 22 (he isn't) 2) Over pension age (he isn't) 3) earns below 10K (he doesn't) presume this is just an error but is there is something else that is needed?
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Crystallising a sipp
Hi Im looking to crystallise my sipp to get the 25% tax free lump sum, but I don't intend to take the remaining amount for several years. I will continue in my salaried job until I retire. What options do I have with the remaining 75% for investment until I need it.
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State pension
I will get my state pension in 2022. I have 48 years NIC and no gaps so I can get the full amount. If I give up work before then will that be affected?
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How to pay back a Taxable Annual Allowance breach
I am looking to find out how a breach in the annual allowance is paid back in practical terms.I am a member of LGPS in Scotland. My salary is approx. £90k and I have been paying AVC's to the linked Prudential scheme to take advantage of tax relief and make the most of all my carry over allowances. I have not quite…
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Pension Forecast question
My wife has just received state pension invitation and I have looked at the forecast on the gov.uk website. The current forecast for her retirement date (5th May) is £167.91 a week which is stated as the most she can get is she contributes to 5 April 2021 . However the estimate based on NI contributions to 5 April 2020 is…
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Workplace pension -cancel or leave?
Apologies if asked before. I am paying in far more monthly than I think I'll ever see back out, so I'm wondering whether it would be better to cut my losses now and stop paying in, and what to do with the funds in the pension currently. Age 56, intend to retire at 60, probably won't have a job too much longer in any case,…
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Crystalisation questions...
I'm not there yet, but wanted to know what happens after you cystalise your pension. I realise the crystalised part is separated into 25% tax free and 75% taxable elements and some aspects maybe platform dependent... 1/ Do you have to liquify before crystalising. 2/ Once crystalised but not actually drawn out, can those…
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Old 'with profits' pension fund - worth keeping?
I have an old Friends Provident (now with Aviva) pension fund from 1991 with the last payment I made being in 1994; in round numbers the current fund value is £2300 with a final bonus of £560 and an exit charge of £20. There is £10k of life assurance with the product for which they take out around £20 a month. There are no…
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Stakeholder pension transfer to SIPP
I currently have a Scottish Widows stakeholder pension invested in a balanced fund. I have had the pension since 2006 and left the UK in 2013 to live in Australia so have not been contributing since then. The current balance is approx. £18000 and the AMC is 0.37%, the fund apparently has no additional fees although it's…
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my AVC is placing me under the minimum wage threshold
My company has stopped my tax relief on my pension contributions stating my AVC is placing me under the minimum wage threshold. Yes, if I take out the pension contribution from my basic pay I would be under the minimum wage. This does not take into account my night shift premium that takes me over minimum wage. If true,…
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Still working and receiving gov pension advice
I am 66 and still working and I maybe will continue for another 12/18 months. I have started to receive my gov pension of approx £800 a month. I am in the 40% tax bracket so this is going to be taxed accordingly as well. Is there a way I can get some of this tax back by paying into a personel/private pension scheme ( ie…
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2021 Budget Changes To Pension Allowance - How Likely To Be Applied Retroactively to 20/21 Tax Year?
I have only very recently started to familiarise myself with Pensions, and I know that some of you have been following the topic for years. Thus, I kindly wanted to ask you the following: I am a higher rate taxpayer and want to use this year to pay a lot of money into my pension (~100K gross) by using my unused allowance…
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Added voluntary contributions - AVC
Hi,a few year's back I decided to join an AVC scheme ran by the Prudential. As I was a little sceptical of their claims about the benefits I only paid in an extra £20 a month. I recieved my first statement a year late & my suspisions where confirmed, I'd payed in more than I would get back. I immediately cancled the…
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Defined Benefit Pension
I received a valuation of £8950/year for my defined benefit pension in November 2020 and just asked for a quotation today and it is now £8790/ year I am only 48 is this possible that a DB yearly pension can drop, I thought it generally went up with inflation It is a BT pension
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Sipp drawdown to ifisa
Hi I would like to take my 25% tax free lump sum from my P2P SIPP in the next few weeks and pay the money into my IFISA However the money is locked in for the next 6 months, so I can’t touch it until the loan is paid back Is it possible to transfer the lump sum (on paper) from my SIPP into my IFISA , they are both run by…
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Can somebody help explain in simple terms..
Hi all, I am currently looking for a simpler way of controlling my pension plans. A way that allows me to easily understand and view what's happening on a daily basis and am considering Pesionbee as something that is more transparent and easier to navigate. I am invested in a Collective Retirement Account - Uncrystallised…
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Need advice on SIPP (Self-invested personal pensions) for self-employed
I wanted advice on SIPP (Self-invested personal pensions) for self-employed people, let's say if a self-employed person earns £20K with an expense of 5K then they pay Income tax and NI of £1,154 for 2020/21 My question is, as one of the option to save tax - can I start SIPP and what is the max I can pay? Also, while doing…
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Capital preservation options SIPP
Hi, I wanted some advice on the best capital preservation options for my SIPP. Having hit the lifetime allowance I am feeling it may be sensible to notch down the risk and preserve capital. With 10 years to go before age 60 I may need something lower risk to preserve capital accepting that returns will be much lower than…
