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Question About Registering "Enduring Power of Attorney"
My parents have both set up Enduring Power of Attorney with myself and sister as attorneys (jointly and severally) Both of them are still "with it" but my father needs help with paperwork and financial stuff, such that we need to use the powers that the Enduring Power of Attorney will give us to interact with banks, etc.…
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State pension
Hello i am just about to get my state pension so I contacted my pension department to find out how much I can expect ( I have 35 years of continuous employment), I was informed that because I currently receive a small works pension (£2000 pa), my state pension will be reduced. Has anyone else been informed of this and is…
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Alternative to Prufund Growth Series E ?
Good afternoon, a good friend in early 60's has just inherited a modest SIPP investment from a close relative. His good fortune, of course. He has asked me to take a look at the possible ways to maximise his good fortune in the short to medium term. The person is kn a modest salary and pays basic rate tax. The SIPP was set…
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DWP pension enquiry
Does anyone have any idea when the DWP pension enquiry office will re open. Recorded message stating they are only dealing with certain issues, not mine. Nothing that I can do online, I need to speak to someone. TIA
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Final Salary Pension Transfer Advice Required
From an old job I had in the 80/90s at 65 I am due £3.3K per annum until I die. If I transfer this pension to a SIPP, they lump sum that would hit my SIPP would be £133K. Does it sound like a good idea to transfer out or should I just leave it and take the £3.3K per annum at 65(if I make that!)? I am nearly 54 and want to…
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Divorce to reduce pension tax bill?
By the time I retire I am hopefully going to be in a position to have an annual income that will be above the the threashold for the 40% tax rate and I may be hit by the LTA. If I were to divorce my wife and give her 30% of my pension pot (she has a smaller one and 30% would make us about equal) would I be right in…
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Stakeholder pension
I'm self employed and a couple of years ago set up a NEST pot, just so that I had an account building something. But I want to move into something better. Any thoughts on people's experience with Stakeholder pensions would be welcome - for performance (of course this is somewhat market dependent!), fees and customer…
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Early Retirement Goal
Hi, I'm hitting 40 next month and the time has now come to re-arrange my finances and start thinking about retirement. I'm not going to lie the last 20 years has gone so quick it's quite scary and it won't be long before I reach 60 or end up 9ft under. During the lockdown it got me thinking more seriously about my finances…
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Pension Pot £45K for reinvestment
I am in my 70s with a lump sum in a pension fund which matures soon. I have took the tax free cash sum 5 years ago and just left the remainder in a protected retirement plan with LV. I do not need to take an annuity plenty of other pensions. I would like the sum to stay in an investment so my children inherit the cash. any…
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Pension check
Hi all, Saw a similar thread on here and thought I'd see if I'm doing ok with my pension also. I'm 44 this year, have a pension pot currently of £170k approx, single, no dependants. Have a mortgage on a small place, which was due to end when I officially retire but I've managed to reduce it a little by OP'ing and now have…
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Retirement plan
Ive built up and £260k in my DC pension pot and I have about £40k in and isa. I get £16.5k from my military pension which is now index linked and I have about 5k a year from a rental property I own outright. Ive used a few drawdown calculators and they are giving all manner of results. Im not going to take a lump sum from…
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Local Government Pension Retirement Date
My local government pension scheme retirement date is two years prior to my state retirement age. So am I right in assuming that any early retirement would subject to the scheme end date?
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Moved: Placing house in a trust
This discussion has been moved.
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state pension take it or leave it.
Getting close to my state pension . The issue is I work and will continue to do so . I am a higher tax payer as well. So do i defer it for a year or two and hope to live long enough enough to benefit. I now find out that the pension comes off my personal allowance ?? is this correct. . any comments
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Salary Sacrifice
Not sure where to post this but.......... I want to buy my company car at the same price the garage will buy so no benefit value/tax to consider. My question is concerning salary sacrifice if they deduct the value of th car from my gross pay and only pay me the balance of my salary is that OK? I will lose out on the 10%…
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Is there a really detailed online method to check NICs?
This check https://www.gov.uk/check-national-insurance-record only tells you if years are complete or not. This matters when checking your state pension eligibility. I'm going through my & wifes records online and called HMRC about some discrepancies. They don't seem to be able to go into any details but one HMRC helpdesk…
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Retirement Planning Help
Partner and i (we soon to be civil partners) are currently looking to retire 2028. A dep head teacher and social worker with a combined income of about 90k. Partner has a teachers pension which will pay around 18k per annum in 2028 and me LGPS with around 8k per annum same time. The house will be payed off 2027, loan payed…
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Drawdown and tax free calculations
Please forgive me as I feel this question has probably been answered here before and it's a basic question. There's a 25% tax free allowance when withdrawing on pension funds. If, as an example, someone has a £500,000 total pension pot. That person retires from work and now has no other income. £125,000 will be tax free.…
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How am I doing?
Wanted to check that I'm in an okay place with my retirement planning. I think I am but it's also something I think/worry about a lot so want to get a bit of a sense check. I'm 39, partner is 35, on about £21k/£18k per year respectively with about £115k/27 yrs left on the mortgage (interest rate 2.34%). One cat, no kids,…
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UK Pension Paid to EU Citizen?
I read on here some while back that a person who has worked in the UK at some point, and then moves abroad, can continue to pay NICs and build up a full UK pension. My son went to university in the UK and worked here for a couple of years before moving to Germany about 8 years ago, getting married, and obtaining a German…
