-
Which month is best to retire in
Just been playing with my spreadsheets to work out when I meet my combination of requirements: namely retiring a bit early, having something to spare by not draining my SIPP completely before I can access my DB and State Pension. On some conservative assumptions it seems like July to October in a couple of years would be…
-
Pension fees
My OH has a personal pension with Royal London, which he was sold when he contracted out of SERPS - Royal London United Assurance Managed Fund 1. I have looked at the unit price/performance on this, which looks pretty good in the last year, at least. I am not great with these things but the stand out is that the annual…
-
NHS Pensioner increase 0.5% from April 2021 - calculation error.
I am waiting to hear from NHS Pensions and they are taking a long time to get back to me. My pension notification says my new pension rate from April this year increases by 0.5%. I did the calculation and the new annual rate on my Advice of Payment for 2021-2022 was less than 0.5%. (My tax code and details are correct.) I…
-
nhs pension at 55
Hi, how does the tax free 25% work with nhs pensions? When we get a calculation each year, it says 'this is what you'll get at age 60, this is what you'd get at normal pension age and this is what it is valued now'. I'm very close to age 55. Using one of their calculators gives a pension now of approximately 6k yearly and…
-
SIPPs and Payroll Giving
Does anyone know of a SIPP provider who offers Payroll Giving? The HMRC website states: "If your employer, company or personal pension provider runs a Payroll Giving scheme, you can donate straight from your wages or pension." This seems to mean that you can give money to a charity without first paying tax on it and then…
-
Joining the public sector and transferring in pension - what are the rules?
SO obviously it isn't as easy as just deciding to work for the public sector just long enough to do a pension transfer from a DC pot into a DB scheme and it just happening. However I was wondering if on joining the public sector (NHS, Civil Service, Local Govt) one is able to do such a transfer, what the terms are, what…
-
What happens on death?
I am updating my mortgage etc this month and wondered if people can shed light on what actually happens on death if next of kins are siblings vs partner/children. 1. Mortgage/House 2. Level Life Insurance with CIC 3. Income Protection 4. Civil Service Pension with Life Cover & Old Pension Schemes 5. General Assets (Car…
-
Do ages affect projected pension value statement etc on an old DBP/CETV Value
If I request a statement, is it best to request after a birthday for the most up to date figure/projection or is that irrelevant? Old closed DBP Scheme
-
Contributing to SIPP when in receipt of DB pension
Morning all I am looking for some advice for my father. He is in his 50s and in receipt of a public sector DB pension. Is he able to open a SIPP and contribute up to the maximum relevant earnings he achieved in the year? He had a SIPP from a few years ago - it only had £50 in it so he withdrew it - obviously taxable. I am…
-
The plans of men (or women)....
https://www.retireeasy.co.uk/news/will-decide-retire-body-boss SO we can plan all we like but half of us will not be retiring on our own terms. Grr - I checked out the original research and the proportions are 'of those who stopped working earlier than they planned' not of everyone as the not entirely without an agenda…
-
Why does relief at source pension include tax relief rather than extra?
My pension is with nest and is relief at source. My contribution is 10% but it only works out that I pay 8% then the rest 2% tax relief. I understand how it’s worked out but I’m confused as to why with some pensions you’d get 10% + 20% tax relief yet with relief at source the tax relief is calculated as part of the 10%…
-
Please delete
please delete
-
Inheritance tax on pension in excess of LTA
I have exceeded my LTA by £5,000. Are pension sums in excess of the LTA (sitting within the uncrystallised division of a SIPP) protected from inheritance tax?
-
State Pension Query
Hi, I turned 66 in April and am now in receipt of my state pension. I was claiming Carers Allowance for my disabled husband. Of course that has now stpped. My husband is 66 in August and will get his state pension then. I think I am entitled to an Underlying Entitlement due to his disability (he in in receipt of PIP). I've…
-
How US and UK pension interact
I’m aware we will probably need specialist help with this, but we were wondering whether some of the very well-informed folk on here either had some knowledge or could point us the the right direction. My wife is a US citizen but has been resident in the UK since 2004. She has both state and private pensions in both…
-
National insurance yearly update
Looking to see how if I earned a full stamp for last year 2020-2021 and it’s till not updated Are they slower than normal, thought I would be able to check by now
-
Autoenrolled, looking ahead...
Greetings, from a newbie. I'm still working, pretty much full-time, but the day is looming for decisions. I've only been in current post for three years, and will probably be encouraged to stay on, past my suggested retirement. With salary sacrifice, I've variously been paying in, with the employer contribution, £60 to 70…
-
Private Parking Solutions
WESTERN AVENUE JUSTPARK SITE people be careful those scammers I just went to deliver pizza and food as I work for local fast food shop as deliver driver, the man watches on CCTV comes quickly takes your pictures and runs away just for 3 minutes, but appealed it twice via blue template so they send me POPLA Code: I just…
-
Carers credit
I'm 39, work full time but also have carer responsibilities at home for a parent with cognitive impairment. Carers visit but I am certainly covering more than 20 hours per week helping with other aspects of their care needs. I am not eligible for carers allowance but am eligible for carers credit. I likely have gaps on my…
-
Where would you focus?
Morning all, looking for some insight and views please I am looking to semi retire in 2 years time at the age of 55. My semi retirement will see me earn c£10k pa from what is currently my side hustle. We have two children 17 and 15 who are catered for financially based on investing for them since birth. House valued at…
