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USS Flexible Retirement (pros and cons)
I'm now within a year of the magical 55, and having said I'd work until 60, I've started to explore the USS Flexible Retirement option. I've had a chat with someone from USS, so I think I've got my head around most of it now (apart from the TFLS, see below). I really like the thought of being able to go down to three or…
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Did You Blow Some (or All) of Your Lump Sum?
I know we're all relatively prudent on this board, but I wondered how many people took some of their Tax Free Lump Sum and just blew it on something nice? A new car? A mega holiday? A new kitchen? I'm thinking of a new car and then I tell myself to go and lie down. I wonder what others have done with theirs? Confess below…
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DB Pension Transfer Advice
Hi, I transferred my DB pension around 12 months ago and the process was relatively straight forward. I was 38 years old and I was informed before I even started the process that I would receive negative advice based solely on age. I had already fully investigated the risks and for me the Pros of an early retirement…
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Another 'feedback on pension fund allocation' please
Saw another poster on here and thought it a great idea. Hope you don't mind. How does this spread of funds look, all in my SIPP: (20% in each). Age 44 Fundsmith Equity I ACC TB Amati UK Smaller Companies B Vanguard FTSE Dev Wld ex-UK Eq Idx £ Acc Vanguard Lifestrategy 80% Equity A Acc VT AJ Bell Moderately Adv I Acc I have…
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DB Pension considerations before rejecting transfer
This has probably been asked and answered many times before but when I tried to search, the system threw a wobbly and gave me all sorts of unrelated results. Anyhow, I've got a deferred DB pension with Peugeot and have always thought DB pensions are like gold dust and should be hung onto. A few years ago Peugeot paid for…
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JLT Transferred my fund
I recently asked JLT (Mercer) for a pensions update as I'm approaching 55. My DB is still there (modest at 5k), but they have transferres my DC (roughly 28k in 2015) to another provider. I have no recollection of asking them to do this which they did in October 2019. I've asked for details which they say will take 10-15…
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Feedback on current Pension fund allocation and pointers for improvement
Hi everyone, I was after some feedback on my current pension investments and
the funds chosen. Please critique below and maybe give me some pointers where I
can improve. Thanks Overview: Age 33 and in fulltime employment with a Salary of £48k. State Pension: 16 yrs full contribution thus far Work Pension: Provider Aviva…
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Any other US citizen / UK residents here?
My first post! I’ve gone down an absolute rabbit hole trying to figure out how to create an account on SSA.gov without a US driver’s license or a US mobile number. By any chance has anyone figured this out?
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Transferring a Gibraltar based QROPS to a UK SIPP
I have a QROPS which is based in Gibraltar and already in
drawdown. As I am now retired and resident back here in the UK, I would like to
transfer the pension to a UK SIPP. But because the QROPS is Gibraltar based the
existing trustees will not allow me to transfer it to a SIPP offering flexible
drawdown. However, I do not…
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pension
i have a reltive hows partner has just died will she get his privet pension she is 61 and her partner was the same age or dose she have to waite to what would of been his retierment date
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Pension and Divorce
I have been awarded a large percentage of my partners large company pension on our divorce. It is a final salary index linked pension. 4 years ago the company wanted to buy her out. On consulting the independant company they had to appoint to give us advice it turned out it would cost 480k to buy a product that would give…
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CIVIL SERVICE ALPHA PENSION
Hello all, With the great information that I receieved on a previous post I am now looking at purchasing additional pension on my Alpha scheme (Percentage of monthly salary) I am 38 and live with my partner only (not married and she is 12 years older). I have had the question put to me 'Added pension for myself only or…
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Will I loose out in a transfer from an old company pension to the new one?
My employer has changed pension firm to a new one. Old one is frozen in a fund with an AMC of 0.46% New Generation Group Personal Pension Plan. There is only about £1800 total as I haven't been there long. New pension is on the default L&G target active managed retirement fund - has an AMC of 0.15%. I also have a vanguard…
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SIPP Transfer - Information transferred?
Has anybody done a transfer of a SIPP between the main platforms? If so, what information was transferred? By information I mean crystallisation status, current LTA, % of LTA used, buy price of funds etc. The reason I ask is that I have (hopefully) nearly completed a transfer from iWeb to II. II say they are awaiting…
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Tax code for DC pension
I start drawing my DB pension, circa £16,500 pa, in a few months. I also have a DC pension pot of about £170k which I will take UFPLS withdrawals from, probably about £10k pa, until my SP begins in 2029. As the DB pension takes me above the £12,570 personal allowance my DC pot withdrawals will be taxable (apart from the…
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Higher rate tax relief on pension carry forward
Is it possible to reclaim the 40% tax paid in previous years if I am using up pension allowance as carry forward entitlement? Or is any higher rate tax relief only based on what higher rate tax has been paid in the most recent tax year?
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Ufpls or Flexi Access Drawdown
My wife and I are 59 and retiring fully at the end of September. We will be taking income from Sipps, Isa's, Cash savings and we also have a small BTL income. For the next 7 years (up to State pension age) we would each like to take £16,760 per annum from our Sipps. (Tax free allowance plus 25%) I know that we can do this…
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How to buy back specific weeks NI to create full years.
I want to buy back some NI contributions to fill up gaps in recent years NI record for state pension entitlement. I understand you can pay by direct debit but how do I tell the powers that be which weeks/years these voluntary contributions are for?
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When to diversify a pension?
For the past 23 years when I was self-employed I was paying into my Ltd company's executive pension scheme.At the age of 50, I've now got a permanent job with its own pension scheme and closed my Ltd company, therefore can no longer contribute to my previous Ltd company pension scheme which is fine.The self employed Ltd…
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Pension 'relevant UK earnings' and Job Seekers Allowance
Anyone know if contribution based job seekers allowance income counts as 'relevant UK earnings' for the purpose of determining how much I can contribute to a pension? (You can contribute up to 100% of your 'relevant UK earnings'). I think it should as it is taxable but I expect it isn't as it isn't 'earnings'. My earnings…
