Pensions, annuities & retirement planning

anyone registered for this The MoneyHelper Pensions Dashboard can help you see your pensions (including your State Pension) together in one place. https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-dashboard/research-panel Just registered it found all my pensions apart from one,some of the values were a bit…

The NUMBER is how much income you need to "live comfortably" So What's your number? Very important for pensions planning, to know what you are aiming for. My Number? (for a couple) I calculated: £22,000 based on Food £5,000 Car/transport £5,000 Bills/Utilities £4,500 Holidays/Leisure £4,500 Clothing/Cash/Xmas/Other £2,000…

This is a bit of a light topic where the idea is to highlight what successes you had with your pension pots. Example - I contributed X and accumulated Y by Z year. Total appreciation was 'x' percent. Just trying to learn the following that could inspire a range of people - those with no pension, those who started late etc.…

Hello to all. As a fairly new forum user I would appreciate someone posting a key to the acronyms and arcane terms used when discussing pension issues. Thank you in advance.

Welcome to the new Pensions, Annuities and Retirement Planning sticky! 👋 📖 Here are some Forum threads you may find useful (if there are any you think have been missed, please do let us know): * Can I cash in my pension? * Early-retirement wannabe * It's time to start digging up those Squirrelled Nuts!!!! 📝 And here's some…

A smorgasbord question for those who planned retirement and have retired. How well has your actual expenditure matched your modelling? Did you use your expenditure just prior to retirement to estimate your retirement expenses? I understand most research indicates that people spend a bit less, but similar than…

Following earnings data published today we know that subject to a possible minor adjustment in October (see below) the triple lock state pension increase for April 2027 is likely to be based on the average earnings increase figure of 3.9%. This would mean the headline new state pension figure would increase from the…

Hi, I met with my boss this week and said I was going to retire early. It was a surprise. I am highly valued in niche role, there is never going to be a good time. They would like me to stay on possibly 4 days a week. I am in turmoil. Have a meeting Monday to give response. Financially would be ok. Once I step off there’s…

10 year targets are set and I'm aiming high and dreaming big. :) A bit of background. When I was young I grew up with a family of 4 children, Dad worked and Mum stayed at home. We had very little material things or new clothes and I remember I was always dreaming of how I could possibly become a millionaire. So why not…

I know this topic has been discussed at length… but there are definitely pensions I cannot trace because the old employer is not signed up to any of the trace schemes. I have got all the information - employers and dates I worked there and have used .Gov, Gretel, Pension Lab etc etc but to no avail. I have contacted one…

Trying to get rough idea of how much my husband would receive from my lgs pension if I die first. The info on their website is very confusing, any advice

Well, after many years with Aviva, from Scania Life through Friends Provident to Aviva, on logging into today I see this message: Over the next few weeks we'll be closing our Membersite. If you want to: switch funds redirect contributions research funds you'll be able to action these within MyAviva. Please speak to your…

Can anyone help me please? I've today (2nd October) been told by my employer's pension scheme that I have exceeded the annual allowance for 2025/26. I have no carry-forward available, so I will need to pay the tax charge. I understand I need to declare this via tax self-assessment (even though I intend to use the "scheme…

I'd appreciate some feedback from people with experience of retirement planning on whether I'm in a position to retire now at 45, or whether I should continue working for a few more years. My current position is: Age: 45 S&S ISA: £450,000 SIPP: £460,000 Total invested: £910,000 Final salary pension: £15,000 a year from age…

I would like to invite thoughts on whether it would be beneficial to open a SIPP for a short time as part of a bridging strategy just to benefit from the tax relief available. I mentioned in an earlier post that I was sitting on too much cash and the intention was to use part of that in the bridging to other pension access…

So, Capita have taken over the admin for the CSPS and their new website and members portal went live this week. I have just registered on the new portal and am not in the least bit surprised to find that the information available on the new portal is very scant and incorrect in terms of my length of service. With…

Hi, I'm not really sure what to do with MyCSP. I am retired, living on the Isle of Man. I gave MyCSP the four months notice of my impending retirement on the 17/11/2023. They sent me forms to fill out which I did and sent them back on the 12/10/2023. My retirement date came and went and I had heard nothing. I emailed them…

So I increased my personal contribution from 3% to 12 or 15%. Company pays in 3%. Is this a good idea. Think might be stopping me saving cash which I may need if I get injured. Anyhow this equivalent pension type to my friend who works for council and council pay in 15% ? What I mean is, is it an accumulated pot type…

Hi, I transferred out my pension 4 years ago into a True Potential Managed Pension Fund. It's doing OK and has gone up circa 40% over the last 4.5 years (it's a Balanced risk fund). I have always wondered how it would have performed had it been invested with AJBell or any other company. Is there a comparison tool that…

For some reason I’m not getting the ramifications of this so if anyone has any thoughts, I’d be grateful. What are the implications, issues, upside or downsides when it comes to taking a monthly annuity in advance against in arrears. Is it simply a matter of a slightly ( very slight ) difference in income or is there…

Here's my question i need some guidance / help with. I had 3 pension from different employers, cashed "one in" with the normal rules of 25% tax free everything else at Standard Rate. So does the same rules apply to the others do i still get the first 25% Tax free Or because i have cashed one in do i have to the tax at…

Morning all, I hope you have managed to find some time for yourself in what can be a busy period. We have enjoyed spending time with family over the last 3 days, it’s a quiet one today, then off to visit more family tomorrow. I’m not planning anything wild for NYE, but have been really starting to think about what I want…

I've had to delay retirement due to issues with sppa. While waiting for the ombudsman to review matters, I'll take partial retirement starting in June of next year. I've reduced hours by 33% (edit - reducing by 50% not 33%). Forms with manager and HR. Still to send NHS:ret form. Am I correct in thinking I can take all my…

i've worked at the same place for 19 years but for long period have opted out of payments to the pension. i'm now 45 and want to catch up, and benefit from tax relief. However, it says you can only pay in up to your total gross salary per year which mine is around £30,000 give or take. However, the last 3/4 years I have…

I'd welcome some advice if I may. I have an ILG ladder with Bell. It is all uncrystallized at present. To tie me over until SP kicks in, I'd like withdraw an annual amount of cash - for the sake of argument, let's say 30K - to pay for day to day expenditure. My thinking is to drawdown/crystallize 72K, use the 25% tax free…