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The day after my state pension qualifying age, nothing heard from the DWP
I completed my state pension application online on 9th April 2021. Since I received the attached email acknowledgment, I am certain that the application was duly received. It is now the day after my 66th birthday which was my qualifying date, but I have received no communication of any type from the DWP since the email…
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Move stakeholder to SIPP?
Hello I am wondering if someone could answer a few questions for me about SIPPs? I have a (very) small stakeholder pension (about 12k) which I intend to keep on adding to by putting in the maximum I can each year (not currently working so this is limited). I am in my fifties and hope to build this to about £40k. I have…
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Extra annual pension management fee for changing employer
In short because of the new IR35 rules in the private sector,
I’m having to close down my company and move to an umbrella company. I have an existing pension which my company paid into but
the umbrella company is now paying into (via salary sacrifice). So, I’m not changing the pension strategy in any way, only
where the…
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AVC and standard employer contributions
Hello, I have a second job where I pay 80% of my income into a NOW Pension scheme as an AVC. I do this as I don't really need the income now and I want to reduce my tax/NI bill. I also didn't start saving into a pension until I hit 30 a few year's ago so I'm a few years behind :( My employer seems to be basing their…
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Another LTA question
I'm very confused about the LTA. Please can you help me to understand with this simplified example. Imagine the LTA is £1,000,000 I have a DC pension worth £1,000,000 I move it into drawdown at 55 with 25% tax free £250,000 (£750,000 in drawdown)At 60 I get a DB pension worth £1000pa Which of the following tax scenarios…
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Temporary high balance - FSCS
I am in the process of opening a new SIPP before selling down and transferring cash into it from my existing SIPP, prior to reinvesting. I've read a Telegraph article regarding FSCS temporary high balance protection - though the context in the article was someone selling a house before buying another or perhaps two. Can…
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DB to DB Transfer
Hello, I am new to MSE and the pension forum and wondered if anyone could please help me to understand a DB to DB transfer? I have worked for various Universities in a low level administrative capacity since 2001 and have always had a DB pension. When I left one University to join another I have always just left my pension…
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Add to sipp or Isa
Bit of background 55 and still working and I have my main pension in a sipp that I have not started drawing from yet The sipp value is £500000 and with interactive investor I have £20000 to add to either my sipp or my sticks and shares Isa which has a value of £1000 I like the thought of adding money to the sipp and…
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Fidelity Freedom funds in the UK?
I've just been listening to an interesting podcast about investing. It's called Investing Insights and published by Morningstar. In the latest episode, they were discussing targeted retirement funds and mentioned the Vanguard Target Retirement range but also an equivalent one from Fidelity called Freedom which Morningstar…
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Claiming French pension contributions
Looking for advice on what I could/should do with regard to French pension contributions (Assurance Retraite and Ircantec). I worked at a French University for a couple of years in the 1990s and paid pension contributions - I wasn't on a big salary. I'd not really given it much thought until recently but have all the…
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JIMI NHS MNTHLY A
I have received a payment into my bank account with the above description but I don’t know what it means. Presumably something to do with my NHS pension? Also got a payment from NHS TAX I’m guessing it’s related. Does anyone know what it means? I don’t mean to look a gift horse in the mouth but I don’t want to spend it for…
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Crystalised funds and Lifetime Allowance
I'm approaching my LTO after crystalising my
main pension to pay off my mortgage with the 25% tax free allowance. I have a
couple of smaller pensions, one of which was crystalised at circa £16,000 a
couple of years ago to release the 25% tax free for home improvements. After
taking the £4,000 tax free from this drawdown…
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Tatton Investment Management
Having decided to use an IFA, the one I picked (out of 3) uses a DFM; Tatton Investment Management. Does anyone have any experience of them and/or any comments? I'm not adverse to using a DFM to me it all depends on the total charges which all in I'm expecting to be c1%. I'll be consolidating 4 DC pensions and am weighing…
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Pension overpayment
Good morning, I have had a Bank pension being paid since Sept 2007.I took the cash lump sum of £8461, spent on a bathroom refurb. At the time I was sent a form detailing the lump sum and a reduced pension of £1250? per year. I signed the form and returned it to them.I do not have a copy of the form. I am divorcing, had to…
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USS - General discussion
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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State Pension date seems to varies
hi May be a silly question but here we go. when I checked on the gov website when I can get my state pension the date given is wrong. It is 7 month early. I thought it should be 67 years but for some reason it is 66 years and 5 months. Since you can type any 'date' I tried few dates. Most is 67 years, but for some the…
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DEFINED BENEFIT 25% Tax free.
HiQuick question im a defined benefit member ( no longer working for the company) . My heatlh has now detoriated which means that I will never be able to work again. I claim benefits. The rules of the scheme allow me to apply for my pension to be taken early at reduced terms. I'm currently following this route right now.…
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Synthetic ETFs
I am considering investing in a synthetic ETF that tracks the US markets. Also considering the various world geographies for other ETFs to diversify. Using the US as an example as plan on holding the majority of my investment here. The idea being to avoid Dividend Withholding Tax in the US. Are there any risks with these…
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State Pension Forecast states I have NI gaps but I have 40 years of full contributions
I wonder if anyone can help with my query. The Gov website says I have a pension shortfall but also says that I have 40 years of full contributions. Isn't that enough qualifying years? It also states that I have 4 years to contribute before 5 April 2024 and that I have 6 years when I did not contribute enough. How can it…
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Selling DB partner benefit
Supppse you have a db pension with autimatic benefit for a surviving partner but no partner coild you not sell the partner benefit for a tidy sum to someone looking for an annuity. Obviously you would need a suitable prenup to protect other assets but basically it would allow the seller to realise sone of the value of an…
