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Retirement planning
Hello good people , just having a think about retiring early. I know it's a bit of a how long is a piece of string question but how much would a couple need after tax for a comfortable retirement. Mortgage paid , 1 hol europe a year eating out once a month, small 3 bed semi to upkeep small car and dog to run just rough…
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Partial DB transfer tax query
I'm considering a partial transfer out of around 33% of my DB pot based on a current CETV My query is how is the 25% tax free aspect dealt with? (will it be only 25% of the amount transferred?) If so,as no further transfers will be allowed from the DB scheme, will I have to take further lump sums from the DB pension to…
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Pension freedom
I’m looking for some advice please. I’m 55 next month and I’m due to receive my pension. I wanted to take it all but because it’s over 30 thousand I can only have 5 thousand and so much a month for rest of my life. I’m disabled and I would like to enjoy it now as the amount there offering me monthly I’d have to live for…
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Plan closed to further accrual
Hope this hasn't been posted previously, if it has sorry I couldn't see it. I've recently had a letter to say that one of my dormant DBS pensions will stop accruing March 31st. Its Total Cash Equivalent Transfer Value is £60,611.54 and I have 2 other pensions which, with all three values combined take me to about 85% of…
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Time to decrease?
I don’t know if this is the right forum for this but here goes. The basic figures that I need to give are Salary: 130k + 10k bonus (worked hard, at points got lucky. Very secure job in stable industry) Age: 45 Dependants: Wife and 2 kids. Wife has a part time job that gives her enough cash to make her financially…
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Yay - Found pension pot
I have been trying to find an old pension pot from years ago and had no success at all. Out of the blue I got a letter yesterday from Standard Life to update my details. I'm fairly sure Alexa did the legwork, how else would they know?Anyway, the upside is the pension pot that I stopped paying into back in 1999 is now worth…
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USS Investment Builder
Hi, I am quite an aggressive pension saver. I am in USS, but tend to pay additional contributions into a SIPP. Apart from fees, would paying into into the Investment Builder give me more options are retirement? Any views appreciated.
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Defined Benefits transferred to SIPP then transferred to Work Place Defined Contribution
Hi All, I am thinking about transferring my Defined Benefits pension. The CETV is over £30k so I need to engage an IFA. I would like to transfer it to my Aviva workplace Defined Contribution pension scheme. The problem is Aviva will only accept the transfer if the Financial Adviser says its in my best interest. I know…
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Clerical Medical Customer Service
Has anybody experienced the appalling standards of customer service being delivered by Clerical Medical of late ? I would be interested in gathering a body of affected customers with a view to achieving a satisfactory level of conduct by Clerical Medical. In response to my recent experiences I have been told that Clerical…
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Workplace pensions
Our daughter has two jobs is run off her feet and so has asked me to sort out her pensions for her as she has no idea about them. She has the following Nest with ex employer and current employer Smart pension with ex employer Teachers pension Can anyone advise me if she can or even should combine these into one scheme i.e…
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Choosing between different AVC funds
Hi I'm after a bit of pensions advice - I work in the NHS and am looking to take out an AVC to provide additional savings I can take in 11 years time at 55y. I'm hoping to save an additional £10K a year into the fund through monthly payments. I have been overpaying this amount a year on my mortgage for the past year but…
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Sense check needed - very rough estimates
I'm after a sense check and to understand if there is anything else I need to think about as pensions are a bit of a mystery to me. I'm 44 next month, considering my options for retiring at either 57 or 60; my mortgage should be paid off by the time I'm 57. I am ignoring the state pension (as I am not counting on it being…
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What are special NHS terms on AVC?
I currently work as a Pharmacy Technician and on top of my NHS pension and additional pension payments I am also paying AVCs into Prudential. The NHS state that "We have negotiated special NHS terms for these arrangements. We review these regularly and there are no commission charges." I am not sure what these "special NHS…
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Auto Enrolment Deferment
My wife does ad hoc work via a couple of childminding agencies of which she is an employee (PAYE). She doesn’t get paid much, but has been informed by one that she is “eligible for automatic enrolment on to a qualifying pension scheme.” They have deferred it by 3 months, at which point the default will be to enrol her…
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UK Pension Entitlement for French Resident
Good friend of mine is a UK citizen, born here, educated though Uni here, and worked here for maybe 5-10 years, but now working and tax resident in France (last maybe 15 yrs). No intention of returning to UK. Next time I get out to France (fingers very crossed, for 12wks time) I was going to ask him what he had done about…
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Death of spouse
My Sisters husband died in 2012 age 56 Is she entitled to a widows pension . She is 63 now .
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Transfer of IBM Pension Administration to Legal and General
In January 2021 the IBM Pensions Trust transferred the administration of my IBM pension to L&G since then the vale of the pot has dropped by 4.5%. 80% of the money is in the IBM PP Pre-retirement Bond Fund and 20% in the IBM PP UK Money Fund. I have pensions of similar values with 2 other providers which have shown…
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Pension plan
Hi I've changed jobs recently which has a local government pension. With roughly 14 years service calculator estimates c19k pension. Wouldn't take it until 4 years later at state pension age. I've 3 personal pensions total value atm is c£190k. Thinking of retiring in 14 years, taking 25% tax free then drawing down on…
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i.f.a.
hi all i know this has been on the forum but cant seem to find it ,im loking for website or linkfor juddgements pending on i.f.a.
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Contracting out and back in, SERPS, S2P and New State Pension
Another question please to those who know: In 1993 I contracted out of SERPS into a approved Personal Pension. I was paying a fair bit of NI, in fact between 2000 and 2004 the max as I overpayed and HMRC NI would send me a refund cheque. Over 11 years from '93 to '04 NI diverted to plan was about £14.5k. From about 2002…
