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Pls help me to retire early - DC pension - 3 years later
Hello wise MSE Forum people, My 1st ever post and lots of naïve questions (please be gentle). I'm 49 and it recently hit me hard that I absolutely hate my job - the pressure that comes with it, lack of time to spend with family etc etc. etc. WFH & lockdown put another perspective on importance of "little" things and made…
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Several Queries (UK/Ireland Work)
Hello, if this is not the right Forum apologies - I couldn't seem to find one and this seems the closest. I have a number of queries if anyone can make any contributions to. I am a UK citizen who has worked in Ireland since July 2007, with periods in full time and part-time employment. I lived in Ireland until Jan 2015…
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CS Alpha Additional contributions
I have a pension and I am about to get my state pension. Since retiring I have been working for the CS and I am in the Alpha pension scheme. My combined income puts me in the 40% tax bracket. I really enjoy my job and although I will shortly be 66 I may continue working until 70. I am considering additional Alpha…
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LTA and Pension Pot Meaning
I just got my annual pension statement which gives my Lifetime Allowance Used - is this figure the same as my 'pension pot'? (I only have one pension.) Many thanks.
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Value of Benefits calculation
How is the "Value of Benefits" calculated for a Civil Service Pension ?
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Looming LTA
A few years back I thought LT was a problem for other people and I would never be impacted. However after a few very good years for investments it has dawned on me that if things were to continue at the average growth rate I have experienced over the last 10 years My uncrystallised SIPP will exceed the LTA in only a few…
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Advice at 33
I have a Employer Pension scheme where my employer pays in 10% (I'm a director) and I dont have to contribute anything. This equates to £750 per month. I currently have £40K in my pot and I'm 33 years old, my aim is to retire at 60 (ish). I'm not putting contributing anything at the minute myself as I think £750 a month is…
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Pension contributions- Reducing tax
Hi there I am pretty new to the concept of retirement planning etc. I will be contributing to my pension pot through a workplace pension scheme where my employer pays 5% and so will I as a minimum (or maybe more after this). my question is about tax relief on pension contributions… I earn 26620 a year and tax code is…
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CLASS 3 NIC for six months after PAYE for 6 months
Suppose someone is employed at a salary of £600 pcm , i.e. above the lower earnings limit but below the primary threshold , and therefore paying no NIC. If she is employed for the first six months of the tax year and leaves employment at the end of September, can she pay Class 3 NIC from October to the end of tax year and…
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Any Chart Experts who can figure out what is wrong with the values in this chart
Hi - When I review the historic chart data of one of my investments the values don't match with the actuals, it's not $ / £ exchange rate, I checked The price of this ETF was £21.56 on 17 June 21, this chart is telling me it was £9.94 Regards John
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NI contributions/pension
I have a few questions as I'll be claiming my pension soon. Can anyone answer them for me, please? 1. Is it right that NI contributions are automatically given if you stay at home to look after a child under 12? I started work in1974 and left to have my first baby in 1976 and another in 1979. Went back to work when the…
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Transfer old DC pensions?
I currently pay into my workplace DC pension with Royal London, a balanced lifestyle strategy. That transfer value is at 55k currently and I’m paying 25% of my salary into it and that includes my employer’s maximum contribution. I have two older DC pensions both with Scottish Widows. The last statements show transfer…
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NHS 1995 v 2015 anomaly on taking benefits
I have been in discussion on a recent thread regarding
flexible retirement options in the NHS pension scheme. To my mind, there has
been a longstanding anomaly between the 1995 Scheme and 2015 Scheme which needs
to be addressed. Workers in the 1995 scheme have built up benefits to which
they will be entitled, without…
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Tax and my Sipp
I have retired from work with no intention of working again and I will be 63 in February 2022. I have an income of £8400 from my ex works pension I am Married. I have a Sipp with AJ Bell current value £40,645 As a Basic rate tax payer what would be the most Tax effective way for me to access my Sipp fund ? I intend to move…
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TFLS from two pensions that exceed my LTA ?
I am 58 and I have two pensions to take at 60, one is a final salary the other is a SIPP which over the years has done VERY well, the combined value take me well over the Protected lifetime allowance When I take the pensions would it be better to take the tax-free lump sums from both pensions to ease the tax burden, than…
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Defined Benefit 25% Restriction
My wife's DB scheme does not allow a full 25% tax free lump sum to be taken when she decides to take her pension, its something more like 15%. Would there be a 10% tax free allowance on the annual pension after taking a 15% lump sum?
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AVC to existing work place pension or add to SIPP?
Best option please Currently contributing 6% to work pension, employer double matching with 12% making total 18% My payment is going out salary sacrificed. I am not best happy about the option of funds I have in this standard life pension. I did the best I could with the available options to me moving away from life…
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Pension Check
I seen a government website on here regarding how to check your pension, but I forgot to take note of it at the time. Does anyone know what the website is?
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Can I Freeze NHS Pension?
I shall be 56 soon. Most of my pot is in the 1995 scheme, rest in 2015 scheme. I'm on band 6 role. Can I do this - after I reach 56, resign and freeze my pension, with a view to taking it at age 58 BUT take a part time role as, say an nhs healthcare assistant (lower band)? This would be about a month after I resign. (My…
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ii SIPP
Hi I am considering moving two defined contribution pensions from their current location to a SIPP. I already have a small ISA shares and some non-ISA shares with ii and keep seeing a SIPP ad saying no charges for 6 months. So I was considering opening the SIPP and getting a look around the platform before moving any…