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USS - Early retirement ERF and NPA
Hi, USS age related query to do with the ERF I’ll be subject to at early retirement. I’m 57, joined USS in 2015, retiring in Mar (just shy of age 58). Looking at Pg 3 of this: https://www.uss.co.uk/-/media/project/ussmainsite/files/financial-advisers/mfuss-for-ifa.pdf?rev=dc0aa6054b8a49cda8fc0400f76295cc It looks like my…
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Is there a Pension Provider that will open a pension with a CarryBack lumpsum contribution ?
I'm looking for a pension provider that will open a basic pension with a lumpsum 'Carryback/Carry forward contribution', which I'm entitled to make for tax year 2019/20. Such a 'basic pension' could , I suppose, be a stakeholder or something similar. Not Vanguard's sipp, they only take current taxyear contributions. Any…
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Please could I have a Noddy guide to drawdown?
I have a DC pension that I would like to put into drawdown in the future and want to be sure I understand how it works. Every time I think I have got there, I see comments from posters on the forum that I don't understand so it's clear I have more to learn. An example is this from JamesD (hope you don't mind James): "Say…
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Pension & drawdown query
I started a pension quite late in life whenever workplace pensions became a thing but after having a chat in work yesterday could someone confirm I've got this exactly correct. Say I retire early at 60 with a pension pot of £100k and don't have any other income. Am I correct in thinking I can put that money in drawdown…
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LEL credit
I increased my part time earnings in the 20/21 tax year to above the lower earnings limit but below the primary threshold for the last 4 months in said tax year which if I understand correctly means I qualify for NI credits. For this year to count towards the state pension will I now only have to pay 8 months of voluntary…
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Pension advice when not enrolled.
Hi, I've been in a job for small company, coming up well into the 4th month but with no sign of a pension being set up. Late 30's, work full time, salary 20k. I get the impression an accountant manages payroll. I have never knowingly opted out and I'm sure my contract doesn't mention a pension. Not confirmed in writing…
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Pension Transfer with GAR.
Hi, This might be an easy question but a quick google couldn't give me the answer. My partner and i are looking to transfer a pension with a value of approx. 20k but after a phone call Royal London say that we need to take advice as she has 2 separate policies that combined total 45k. Is this information correct ?Thanks
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NHS I’ll health retirement
Hi can anyone please help me with a query? If you get Tier one ill heath retirement under the 1995 section , can you work for the NHS after your normal pension age? If so, would there be any penalties? My situation is I am now 4 months into long term sickness and will be 59 in 2 months but it is looking like I will not…
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Late state pension
In February 21 I received my state pension invitation letter for
which I duly completed online and received conformation also
informing me I would receive a letter within 4 weeks of my pension
date which is/was 17th June 21. Today 13th
August 21 I have not received any communication whatsever and no pension for 2
months.…
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Understanding new state pension???
I am 65 and have looked online at my state pension info. It says I have 37 years...great! However due presumably to contracting out I don't get the full amount. I no longer work but it says if I continue to contribute till next April I could get more. why if I already have 37 years? Wondereing if I should buy a couple of…
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SPPA Mccloud judgement
Nhs nurse pension scheme.. I've been reading the latest consultation in response to above judgement. To be frank I don't understand it, the language used completely baffles me. Does anyone know are there plans or any suggestion the changes may lead to the lump sum on retirement being taxed. Also special class status is…
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440K investment dilemma
Looking for some advice with my 440K pension pot on whether to use a financial adviser or invest the money myself. I am considering using a financial adviser to invest my money with an annual charge of 1.4%. Another option i am considering is investing in the ready made portfolio's ( Hardgreaves Lansdown ) that have a low…
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Life Time Allowance (LTA) tax
I am 65 and have, following an unexpected event, exceed my LTA. Let us say that I have £350,000 crystallized in SIPP and have £10,000 uncrystallised (exceeding LTA). I understand that 25%, if taken as income (i.e. this is the case if you buy an annuity or take a regular income via drawdown), or, 55%, if taken as a lump sum…
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Parmenion SIPP Provider
My wife is talking to an IFA who has recommended this company as a SIPP provider. https://www.parmenion.co.uk/ What do they do differently than say AJ Bell, Interactive Investor? My wife has 200K in AJ Bell at the moment and the IFA said AJ Bell are expensive, I did the maths £239.00 per year including 12 trades in ETF's.…
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SIPP drawdown
I have shares to the value of £13k in my SIPP. When the time is right in 4/6 months could I sell some shares and then withdraw £3k to help pay my monthly outgoings and mortgage and then start another SIPP before the next tax year and contribute a few thousand?Would the shares left in the SIPP just remain as shares within…
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Drawdown Options
Hi I was discussing the subject of drawdowns with my wife last night and realised that I know very little about our drawdown options from our SIPPS. I looked at the AJ Bell guidance today and I am a little more informed but not 100% clear. Some questions..... When I want to move to drawdown can I move part of the pot into…
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40 year old Expat - Pension Recommendations?
Hi All Can anyone recommend a pension scheme that accepts non domiciled UK residents? I paid into UK pension from age of 20, value of this is not great, I paid into it until I was around 30 when I departed UK to live abroad. My plan was to remain out of UK for 5 years, however, stuff happened and I’ve remained out of UK…
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Vanguard - Pension Financial Planning
My situation The company i work for was recently purchased by a third party. When we were part of the larger company there was a 'discount' on the AMC with Standard life who managed the master pension trust, based on my fund selection i was paying 0.38% With the removal of this discount, the fees are around 0.9% of the…
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Adviser fined £1.3m after pension transfer failures
Telegraph article - ‘Seriously incompetent’ adviser fined £1.3m after pension transfer failures Adviser Geoffrey Armin pocketed millions after failing to warn savers about pension transfer risks
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Should I use pension drawdown to pay off debt?
Hi, I'm a 55 and a new user here - and would v much appreciate advice on the merits of drawing down up to 25% of my pension to pay off debt. I have approx £85K debt as a mixture of loans - with rates of approx 3% - and credit cards, currently on 0% rates from balance transfers). I have a pension pot of approx £350K with…
