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Know nothing about pensions - advice appreciated
Hi I'm hoping someone can point me in the right direction. Myself and OH run our own business. I have a small (approx £1k) pension from a previous employer with Scottish Widows. We're looking to start saving regularly into a pension. I'm not sure whether I should just start saving into mine and set OH a completely new…
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Yet another State Pension query
Hi all. My family relocated to the UK in the fall of 2015 for my work. I’ve been working full time, my husband has been taking care of the children. We’ve never claimed child benefits as my salary was over the maximum so he didn’t accrue any credits. Now that we’ve decided to settle here, we’re looking into starting to pay…
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LGPS guidance (not advice) when can I walk? Silvertabby and others please guide me, thank you.
Hi, Silvertabby and
others, I need a little bit of help with LGPS and working out when It is doable
to walk away please. My LGPS statement should arrive this weekend coming, is this
statement showing what I have as at 31/03/21? I want to retire next August, 4 years 5 months before state pension, I Get
state pension on the…
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Returning expat CGT on PPR
I have lived and been taxed abroad for 20 years. I'm planning a return to the UK at some stage in the future but may not be able to sell my PPR for some time until after I do ( it's attached to a business which has been leased from us for at least 3 years). My question is how long after I return to the UK will I be free…
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Few small pension
My husband has changed to his 3rd job within the last 3 years. Prior to this he was in one job for 15 years. With each employer he was paying pension contributions. They are all with different providers. Is he best asking his now employers pension can he transfer them all Into it? If you don’t or can’t transfer…
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Trf a £10k Pru AVC With Profits to SIPP?
Afternoon all I have just turned 54. I am a deferred member of the LandRover DB pension scheme with a pot of £295k which I have no plans to touch at 55 years/forseeable future. At some point during my 12 years at LR/Rover Group I must have started a small AVC and this is with the PRU in a with profits fund - valued today…
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additional state pension - pension credit
Hello, Wondering if anyone has experienced this before. I am 70 years old (state pension year was 2011). My husband died a few years ago and I am wondering if I can apply for Pension Credit. I do get a small amount of his pension added onto mine, on a form I have it shows mine separately but then underneath, additional…
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Retirement
Now retired (after just giving up part-time semi-retirement role) and thinking about decisions as to how to take my pensions in the next year or so (living off savings for now). Would be interested in views: DB pension - approx £20000, with inflation protection but subject to various caps - 2.5% CPI, 3% RPI, 5% CPI. Could…
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Retirement Saving
Background - I am currently 52. I used to work for the doomed Equitable Life, I had a reasonable pension scheme and had transferred previous personal pension to them. They went down the pan shortly after I left to start my family - my pension is currently projected at around £500 per annum! After leaving them I was a SAHM…
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SIPP contributions and tax return
OH’s employer has lazily chosen Nest for employee pensions. Employer contributes the legal minimum and no further matching contributions. We are thinking of contributing the minimum required and investing the rest through her SIPP. Does the contribution to SIPP need to be declared on tax return, assuming basic rate tax…
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Short Service Refund Lump Sum
In what circumstances can someone claim back their pension contributions? Is there a template letter available? I fully understand the implications of what I am asking, I have a teacher pension. This was a scheme I paid into for 17 months from January 2020 to April 2021. Many thanks in advance.
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HMRC carry forward calculator - net or gross contributions?
Hi I’m trying to use this calculator for the first time and come a bit unstuck. I’ve used carry forward allowance in previous years but never been anywhere near maxing out contributions so it’s not something I’ve monitored closely, but after ‘pension stuffing’ for the last 2 years I think I’m now nearing the limit and I…
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Pension recycling after 5yr rule ?
Hi all, I cant seem to find an answer to this, or I'm not looking hard enough :/ Is there any rule for recycling any amount of the TFLS up to £40K in the 3rd tax year after taking the TFLS if I haven't gone into MPAA yet?? If all the rules 2yrs b4 + after the tax year when the TFLS is taken are met, can I recycle any…
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State Pension: Paying off gaps/shortfalls in record - worth it?
Hi, I have 2 annual shortfalls/gaps in my state pension which I have 1 and 2 years left to decide if I want to fill those gaps with payments of £450 and £500. I am almost 37 and have 18 more years to contribute to get the full state pension. This means I'd reach this target at age 55. I understand people typically work to…
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Final salary pension
Hi, I have a very old final salary pension plan which ended many years ago but is now worth around £60,000. It always seems to be recommended to keep these schemes instead of transferring them but the annual income from it is stated as a bit over £1,000 which appears to equate to living at least 40 years from retirement…
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Pension drawdown advice
Hi I have read through a few threads and articles to try to get an understanding but of course every situation is different so I thought it was time to ask directly. While my husband waits to get his appointment with the pension wise adviser we would be very grateful for your experience and knowledge to help us with any…
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opening pension account to take advantage of age extension loophole?
I have come across articles in many places that indicate that if you open a pension account that has a "baked in age of 55" before April 2023 the extension of the retirement age to 57 which will take effect in 2028 does not apply (I'd post the link but the forum does not permit that). With this in mind, I just opened a…
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GAR or lump sum
Hi, I’m 65 in October and have a with profits personal pension with Aviva. I started this pension in 1986 with NM of Australasia and have kept up the premiums through all the new companies since, ending now with Aviva. There is a 9.35% gar and I would like your thoughts on whether to take this or take 25% lump sum and the…
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New PT job - what pension considerations?
My husband is starting a new PT job having been a house husband for around 10 years. It's going to be around £105 per week so not into auto-enrolment territory, below Tax & NI thresholds also. We have paid into an Stakeholder Pension for him for maybe 15-20 years, currently £200 a month. With the change in circumstances,…
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State Pension top up advice
I am 65 and have only worked for 5 years paying National Insurance. The last 5 years. I am trying to find out whether I can top up the 5 years before that so that I have 10 years and can claim a state pension next year. I have tried the pensions service and others and everyone says No. I find that hard to believe as there…
