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State pension and deceased spouse pesion
My hubby and I are both in receipt of state Pensions and serps. He has full (old) state pension I have 60% state pension If he pops his clogs I know I can claim some of his serps but Do I get my state pension put up to full state pension. I am hoping so as I will be on about £400 a month to live on or is it a case of…
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SIPP on benefits
Can you start a SIPP while on ESA long term and would it go towards your £6 to £16k capital which affects benefits? For example, could you have £5000 in savings then another £5000 in a SIPP which wouldn't affect how much you get paid weekly?
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State Pensions on the death of a spose
My husband receives old state pension plus serps I receive only 60 per cent of pension plus serps. I know I can claim some of his serps but will my 60 percent change. I am hoping so, my total income would be about 450 pounds a month
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Less than max state pension.
My wife and I reach 66 this month, and we get different pensions. We were both contracted out, and had a gap of 5 years NI conts. I paid to fill them, and both records now show 50 years full payments. I am entitled to £178 per week, but for some reason my wife (same 50 years), is only due £164.71. Why would that be please?
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Contracted Out SERPS - Can i make them work better
Hi I currently have my contracted out SERPS invested with Royal London. I receive an annual valuation statement but because the figures are so small, i have never really taken much notice of it. Recently ive been looking at my finances in more detail and im wondering if i could get my investment to work harder, possibly by…
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USS annual profile update
Hi, I was wondering if someone knows when USS updates user profiles (i.e., the money we build up). I believe these happen annually at the end of March, however, I can only see entries until 31st March 2020. It is August 2021 now, should it not show until 31st March 2021? Does it take so long? Thanks.
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Tax free lump sum
I am sure this must have been asked before but I can't see it anywhere so apologies if so. Basically I am unsure how the 25% tax free lump sum on my pension works. I am due to retire in 15 years time and expect to have a pension pot of around £300k. My understanding is that on my retirement date i would be able to pull…
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Bill Bengen (4% rule) interview with Michael Kitces
#FASuccess Ep 198: How The Creator Of The 4 Percent Rule Applied It For His Clients And His Own Retirement, With Bill Bengen from 13 October 2020. Likely to be of interest to anyone interested in safe withdrawal rates.
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PensionBee
Anyone heard of these, say they can find my old pensions and invest them. Any thoughts on their funds and which would be best for anyone using them?
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Cash in SSIP, de-risking and lifetime allowance
OH and myself are both 51, plan to retire at 55. DBs and SP will meet all our income needs from 67/8 and cash lump sums from the DBs will fill in the gaps between 60-67 as the DBs start between 60-65. I also have DC and SSIP of £450k which will be the majority of our income 55-60. The 25% tax free will be used towards…
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Pension EDCs
Could someone tell me what EDCs are please? Is this simply my contribution to the pension? or is it something else in addition ? I'm trying to fill out a form! "Employee Directed Contributions
(EDCs) EDCs are made by Salary Sacrifice and must be a whole percentage of
your pensionable salary. If you wish to
pay EDCs in…
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Newbie pension question
I recently started a pension fund with Penfold (I'm self-employed) and an investment ISA with Wealthify, I was just wondering how often you will generally see fluctuations in the value of either of these? No changes as yet but only registered them during the week so no surprise there.Thanks
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Does the pension tax free lump sum count as income?
When I retire in a few years time, I know the tax free lump sum is not taxable, but does in count as income (but taxed at 0%)? I am asking because I am hoping to stay below the notional 60% tax band, which isn't going to be easy, and obviously more difficult if the TFLS counts as income? I suspect that it doesn't, but I do…
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Working out % Equity allocation
In common with most in retirement, we have money from various sources making up our monthly income. It includes :- Drawdown, State Pension, A small annuity, rental income and even Solar panels. We also have ISAs and unwrapped funds - mainly cash & PB. I have tended to consider my "paper" investments as a whole rather than…
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I'll health pension
Hi, we are both coming up to 57, my wife is not well.She has been diagnosed with cancer, it is not clear what her life expectancy is, but I cannot see how she can return to work regardless of how well she responds to treatment. As I understand it, treatment will extend her life but not cure her condition. My question…
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Does overtime count towards yearly pension contributions?
I believe 100% of hour earnings count towards the total you can contribute to a pension But can anyone clarify as I’m not very well clued up if overtime counts towards the total you can contribute. Say for example your basic earnings were 18k and with overtime 22k so I’m guessing that 22k is the max you can pension you can…
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Co-Operative Insurance Society Limited (CIS Insurance) - Company Pension Tracing
Hello I worked for this company for a few years and had a pension with them. I am now trying to trace this with no success. I understand CIS got taken over by ROyal London, but they cant find anything I then got put onto the CoOP Pace scheme people and they have nothing I then tried the Gov pension tracing scheme who have…
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Completing National Insurance record when not working.
Reposting this discussion here, as suggested https://forums.moneysavingexpert.com/discussion/6287637/completing-national-insurance-record-when-not-working#latest Here's what's been said: Me: "I reach the age of 67 in October 2035 which I believe that will be the state retirement age for men at that time. I currently have…
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Survivor's Pension
Hi, I'm in the unfortunate position of having to look at pension benefits after a spouse dies. My wife has stage 4 cancer. She has a final salary pension with her employer, and her statements show a lump sum payable on death, and also a survivor's pension. I'm confused about the survivor's pension. My wife is only 44 and I…
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