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…

Apologies in advance if this is a much answered query and I've just not got the terms right when searching the forum. My SIPP is almost entirely invested in Vanguard Life Strategy 100%. At a point in the current tax year when I think the fund is reasonably high I sell an amount equivalent to what I want to take out in the…

I am 57 years old and want to retire now due to hating my workplace. I have a pot of 640000 invested in a smoothed pru fund. I need around 35k a year from now to state pension at 67 then drop it to 20k a year plus SP. Mortgage free. Is this viable to go NOW !!

Hi I am looking to take an extended sabbatical (1-2 years) which probably lead into early retirement at 52 years. I was planning to take this March /April next year. Before I give any notice to my employer and I am currently still receiving a salary. Is there anything one recommends that should be applied for or…

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 following excellent advice on here regarding an old DB pension, im now ready to leave that alone and start regular investments into an existing SIPP for the next 5 years when i retire (im 60 now, planning to retire at 65). i have a Hargreaves Lansdown SIPP, its around 7 years old and has grown from £80,000 initially to…

Earlier this year at 55 I cashed in a small pension of £13k as I am out of work.Having trouble with finding work, i got some jobseekers allowance which the nice people at HMRC said is taxable and have now said I will have to pay some tax on as it has taken me over the standard personal allowance which I understand. I am…

Hello Retiring next year at age 58 DB Pension at 60 of 8k SIPP value at 58 will be about 330k ISA value £200k Amount needed per year £20k Full SP at 67 My initial plan was to take the £16,760 from my SIPP for 58-60 then £8,760 for 60-67 with the aim of not paying any tax until I get the SP and using my ISA to top up to the…

I am 55 in January 2028. I believe that in April 2028 the age will increase to 57. I want to understand what I need to do in order to not miss out on claiming my private and local gov pensions. Where can I get advice. Thank you

Hi everyone My LGPS fund are saying that the pension age to access your pension will rise to 57 in 2028 however they are awaiting guidance around who is protected. The government consultation read that anyone in the scheme in November 2021 would retain the 55 protected age. My calculator still lets me put 55 into it…

I want to take a tax free lump sum from my pension now. I believed it would trigger MPAA but I am confused after reading everything my pension provider sent me! I have not retired yet and will continue to work and make pension contributions for at least 2 more years. I want to withdraw approx. 20% of my pension now, tax…

The market is going to be very volatile, it already is. I need to get my money out of a very highly managed expensive SIPP and into a self managed one, the trouble is when I’m going to be able to do this without suffering a major loss as I know nothing will happen with my funds for weeks in limbo.. is there going to be a…

Hi, I'm a long time lurker, first time poster. I have been enjoying this forum immensely over the last few years, especially since I saw the road to retirement end date in sight. So last week I am pleased to say I handed in my notice and triggered early retirement (ER) commencing in just over 3 months time. I have a…

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…

Lots of coverage on incentives for current account switching, but none that I've seen for pensions. I kind of get it - bank accounts are a well oiled process, don't involve long waits, differing paperwork requirements, and potentially large sums needing to move. But given that the demographic of this board is made up of a…

Back in the 90s my wife was persuaded to take out a pension with an insurance company rather than join her DB pension scheme. A lot of this was going on then the poop hit the fan as these companies were considered to have mis-sold their pension policies by giving bad advice to their clients. Many of you will remember and…

I am self employed and opened a stocks and shares 'Fully Managed' Lifetime ISA 5 years ago (risk level top/10), as a pension fund with JP Morgan (previously Nutmeg). It seems to be doing well, but so do other options. I have 17 years left before I can access it. I am wondering if anyone has any experience of using this,…

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…

Hello, After 27 years with BT I have just left and will be taking my BTPS shortly. As part of the paperwork to take the BTPS it states that at the age of 67 (state retirement age) my BTPS will reduce by £1,349 pa due to something called the State Pension Offset. I certainly dont remember agreeing to this? Is there anything…

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…

I have little confidence in the accuracy and reliability of the information displayed on the workplace pension website. Please offer any advice what to do. In my workplace pension 5k was added to my pension account - this was clearly a mistake. I notified my pension provider. No answer from them. For 2 weeks the higher…