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Feasibe option to utilise pension funds?
Hi I have a pension fund which is currently at £120,000. I took 25% previously when 55. I do not expect to work up until 67 and want to retire around 60 to 62 years old. I'm type 1 diabetic and most figures sent to me go up to 95 years of age. Not being funny but on balance I'll never get to 95. What I am keen on doing is…
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Foolishness of the 4% rule
Interesting discussion of withdrawal strategies in this podcast from Rational Reminder. https://rationalreminder.ca/podcast/164 This includes Moshe Milevsky’s entertaining demonstration of the foolishness of picking a spending level and blindly increasing it by inflation each year without any regard for how your portfolio…
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Voluntary Class 3. Fine Detail Questions
Asking for a friend. They paid 30 yrs NI, but that was a long time ago. They have paid no NI for more than 10 years. Not on benefits; not caring for children; really, no NI. Pension forecast says currently £139.94/wk with a maximum of £179.60 I make that 8 years of NI to make up, but they hit SPA in 2.4 yrs. Seems to me…
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What would make you consider DB to DC transfer
I know there are an absolute multitude of discussions on here about transferring pensions out of DB schemes, so I am coming at this from a different angle. Let’s be honest for lots of very sound reasons the general consensus on here is to keep monies that are in DB pensions there. I understand the rationale for it and can…
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Transferring old DB scheme into a Sipp without a positive IFA recommendation
Should anyone be wanting to do this, it appears PensionBee is the place to go. There are possibly 1 or 2 others, but this seems far the easiest.
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Additional pension contributions or savings?
Apologies if this is a very naive question. I am currently paying into the USS pension and am paying an additional 10% monthly - I will be 55 next year. I am undecided on final retirement age but it could be anytime between next year and 60, depending on a few variables. I have approx £100K in the Investment Builder to…
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Gold
I have never invested in gold. Any reason to add gold to my portfolio at this time? If so, should I buy a gold ETF, Krugerrands (or similar), or gold miner stocks?
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Pension has finally landed - As an insistent client acting against advice -*DOORS CLOSED 03/09/2021*
EDIT 03/09/2021 - PensionBee door has been closed Well as my pension has finally landed from my DB scheme I can finally reveal who accepted me as an insistent client - PensionBee. I am not saying you should do this lightly, I weighed up everything before doing this and I believe it is the right decision for me. How long…
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£40k into pension?
Hi All A very naive question, so please be gentle I am 61 I already receive a small pension from a previously deferred Superannuation pension.. £6.5K pre tax I also have a current pension at work with Aviva currently worth approx £75k I have approx £40k sat in a bank languishing at nearly no interest.. I have considered…
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State Pension Annual Increase
Still working on my "NUMBER" and constantly changing forecast... With the state pension There is an annual increase of... Whatever is highest... The rise in Consumer Prices Index (CPI) measure of inflation, increasing average wages or 2.5% So therefore no matter what happens, the state pension will always increase by at…
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Lars Kroijer - Rational Portfolio and Government Bonds
I have been reading Investing Demystified by Lars Kroijer and spending sometime on the section about Government Bonds as a low risk investment for a rational portfolio. I can understand the fundamentals as to why its low risk but I am struggling to see the benefits when compared to keeping cash. I was thinking of UK Gov…
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Taking My First TFLS from Fidelity SIPP
I'm about to take my first TFLS from a SIPP I have with Fidelity. Browsing their website, I don't want to incur any "advice" fees and all I want to do is take a proportion of my 25% lump sum (not all of it). I don't want to drawdown any further income at the moment. I just wondered if anyone else has done this and if it's…
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55 in 2 weeks - need to know my best option
hi, i have two pensions - very small ones - one is approx £7500 value, and the other bit better £16,700 approx - best suggestion 25 tax free lump sum and leave? i dont pay inito these pensions and havent done for many years . we claim working tax credits so cant put money into these pots and i am only in the lowest tax…
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NHS/Personal Pension Quandry
I'll start by saying that I've got no real clue about pensions so my thoughts may be completely wrong here... I work in the NHS and have been a member of the NHS scheme for about 15 years, part of it is the old 2008 scheme and the remainder in the 2015 scheme. While sorting out a load of paperwork during a house move I've…
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My SIPP switch is complete - investment timing question
So my funds arrived on my new platform. I've placed a purchase order for a blend of Vanguard LS40 & LS60 acc funds so that I get close to 50% equity those orders should settle after the bank holiday. I've currently kept back about 25% in cash and, although I am not trying to time the market, simply because everything seems…
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NHS pension value
Hi, I’m going through a divorce at the moment and I’m just trying to get my head around pensions. We’ve been asked for our pension values and in my wife’s case I’ve filled out a cash equivalent value request for her Nhs pension. I have a pension at work through Scottish widows and I pay 4% per month and the company adds…
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St James Place Wealth Management
https://www.sjp.co.uk/charges/pensions-charges There is a lot of negative press about STJP, specifically in the Times, how true is it. A close friend is a bout to get her 1 Million £ DB scheme transferred to STJP. Should she be worried? Her husband already transferred his a few years ago, similar pot
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Retirement in France
I have 2 private pensions fund with 2 different uk companies (I am not sure I can mention them here) which I contributed to while working in the UK from 1995 to 2017. I moved to France in 2018 and I received a letter from both pensions saying that I was not allowed flexible drawdowns because I live in France now. So…
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How many years NI needed for full payment
Im 61 and apart from a couple of years spent studying in my late 20's I have paid full time NI from 16 until being made redundant in 2015. Do I still need to be paying full NI to hopefully get a full pension at some point in the future. Thks all
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Tax and my pension pot!
Sorry if this is a bit convoluted but I cannot seem to find any info anywhere. I have a £250000 pot. If I take the 25% and leave the remainder for a couple more years it might make 200K. Annuities aren worth anything so would I be able to dip into the 200k say at 20k pa and only pay 20% tax per withdrawl. Thks all.
