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Success Stories - Pensions
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.…
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Pensions Planning: The NUMBER
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…
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Acronyms 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.
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Pensions, Annuities & Retirement Planning Sticky
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…
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Third Party Pension Contribution to Daughter
I want to make a regular Third Party Pension Contribution to my adult Daughter's SIPP. The SIPP is with one of the major providers. The contribution would be a regular "gift" out of my excess income, so would not be affected by any IHT issues. I do not want to make the contribution direct to her own current account, as I…
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Paying more into employers pension scheme?
Is this a sensible choice to make…? My 19yr old son is doing an apprenticeship and is joining his employers pension scheme, His contributions default at 5% of earnings with his employer matching them, but he can increase his contributions and his employer will match them. He wants to pay 7.5% but I want him to pay in more,…
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Sipps with 3 years to go
Are people holding their nerve in the current climate? When only 3 years to retirement? I am thinking of switching to dividend paying funds , not selling, and hoping things will change in the next few years . I have a 60/40 split. Equities/cash etc. Others??
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SIPP help - urgent!
Hi there, My partner is receiving a large bonus with the end of March salary, which will land in the bank account tomorrow. It was expected for April payment initially but employer decided to pay out this tax year. My partner is on a salary sacrifice scheme and the pension provider is Aegon. The issue is she missed the…
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PCSPS members annual increase letter question
Ever since I retired eight years ago I’ve received (in early March) a letter from civil service pensions informing me of the details and amount after tax of the new pension payment for the forthcoming tax year in April. For some reason, this year I have received no letter or information!! Have any other PCSPS members…
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TFLS age
I am a few years from retirement. But could be looking at a redundancy in the next couple of years. Just looking into options, with nothing firm. But I have been researching when I can draw on my TFLS. My current age puts retirement at 67, which means I can't access my pension until 57. However, I have read that the age at…
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Bold leap into retirement
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…
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Any point in invsting in a SIPP after 75?
With the loss of tax relief on contributions and SIPPs being brought into IHT scope, assuming providers even accept contributions after 75, is there any point? It would seem the best option would be to redirect any available funds into an ISA / give to family / paint the town an appropriate colour!
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Financial planner to test my retirement planning?
Hi everyone, I've been planning for my retirement for a long time, but especially in the last 4 years. I'll be 52 in May and always had an ealiest retirement date of 53 years old based on my numbers. So I'm getting very close to pulling the trigger. In the back of my mind age 53 was always the earliest I'd finish but I was…
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Transfer from HL to II
I am going to initiate my transfer this weekend I have been reading the information about transfers on both of their websites. However I have a couple of questions that I could not see answered in their FAQs. I will be doing an in specie transfer If I hold a OEIC with a different share class to that is available in II, do…
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Portfolio tracking app
Any recommendations for a good portfolio tracking/budgeting app? I have Life strategy (formerly MoneyHub) which is great, but it doesn't drill down on your investment portfolio by region/sector etc. Snowball does this and also has dividend tracking/forecasting which is great. Snowball doesn't have the bank account/spending…
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Gilts - pricing
Folks Bought a heap of ILGs via Bell in a ladder and one that matures in 5 years. Put me right here please. The value of the gilt fluctuates with the price and the change being the difference over what I paid for them. I assume should I wish to sell them before maturity, then it is advantageous that change is positive -…
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Missing NHS pension.from the year 2000.
I was a nurse at a london hospital. I worked there for two years and I joined the NHS superannuation scheme in 1999 ish. Fast forward to today and I am trying to locate my NHS pension. I contacted the NHS pension tracking system in Newcastle and they said, they have NO RECORD of me being in the scheme, even though I showed…
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Yes I know these are basic questions but......
I can't for life of me find the answers already on the forum. I was auto enrolled in a Nest pension with my employer. I’m paying the basic 5% of the qualifying amount and the employer 3%. If anyone is able to answer it’ll be bound to generate a few more questions. 1.I understand that I’m not paying income tax on my…
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New Capita-run Civil Service Pension Scheme - problems (what a surprise!)
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…
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LSDBA calculation
Unfortunately I'm in the position of looking at a quote for serious ill health commutation of a DB pension. I'd appreciate help in understanding the LSDBA calculation. The quote has 3 elements to it: (a) Commutation of the DB pension that would have been received if service had contined to retirement; (b) the standard lump…
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Personal Contribution to Pension
Hi everyone, I just wanted to sense-check something. I’ve been looking at a few online sources and think I understand it now, but it’s taken me quite a while to wrap my head around it, so I’d really appreciate someone confirming whether I’ve got this right. Goal: Reduce the amount of 40% tax I pay. Context: I earn…
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Employer from 2014-2016 did not pay into pension for 2 years
Hello I have a query about an old employer who I only just realised, after trying to track down old pension providers, did not enrol me or pay into any pension scheme for the entire 2 years I was employed - even the government state pension. I know the law has changed a bit since this period of employment (2014-2016) but I…
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High risk, high reward: A pauper's dream of early retirement.
As regulars on this forum will know, I am trying to retire early while working part time, with a current salary of about £21.5K. Five years ago (after the loss of a loved one) I started to take my life and my finances a bit more seriously. I was 43 at the time, with a combined pension and ISA of £73.5k. I decided to make…
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Unauthorised Digital Signature
Have spent over a year attempting to get justice due to Pension Advisor using requested digital signature for access to my Pension accounts only to sign Client Agreement, open SIPP Pension and start transfer of 6 Pension accounts without my knowledge or permission. Complained to company and to Ombudsman who backed up the…
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