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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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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, 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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Transfer of personal pension?
I have been paying into my personal pension since 1999. It was originally with Legal and General but this was later moved to ReAsssure Now, for reasons I still can’t understand. Long story short, in the past three years have suffered an enormous amount of stress from the apparent mismanagement and incompetence when…
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Tracking workplace pension
How can I find a workplace pension that I had with a company I worked for.i have tried pension tracker and I'm not getting anywhere
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Private Medical Cover
I had AXA private medical cover through work, apparently I can continue that cover without having to declare any pre existing medical conditions. Anyone done that and have any views on whether it provides a useful discount over separate cover? I only used it twice when working but my creaking bones may need a little help…
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NEST Sharia pension - stick or twist?
I have a NEST pension scheme through my employer, and a while back I moved my investments from the standard fund to the Sharia fund, as it had much better performance. Now I know that they changed the fund last year to include Sukuk and make it no longer 100% equities. This was annoying, but my expectation was that while…
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Drawdown quotes
I have a pension pot worth just over 100k. I have adequate income from savings/pensions/investments to live comfortably without this. Is there a site which will provide a list of the best drawdown pensions and their charges? I do not want/need financial advice as all i want to do is take the 25% tax free sum in chunks and…
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Another drawdown question
A specific request and getting my ducks in a row. I'm not looking for other options (I know how threads meander!) and have a clear pathway to meet my overall needs/desires. £140k pot, taking £35k TFLS. A desire to take the remaining £105k as efficiently as possible, whilst remaining under the 40% band. This will be c£20k…
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Transfer Advice Complaint - Do I have a leg to stand on here?
Hello All I recently transferred my DC pension that had some guarantees which meant I needed to take advice to do so (technically it was classed as a DB for transfer purposes but in reality it was a pension consisting of several normal funds that I could buy and sell at will). I paid for the advice and the transfer went…
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Life Plans-Pensions, Work and Health issues
Hello, I have never posted before and just wondered if anyone can be give me advice re: Pensions, Work and Health issues. These are my circumtances: -I had quite a difficult upbringing due to trauma and have had physical and mental health issues from age 17. I had Saturday/holiday jobs from age 14, but from 17 things were…
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1973 baby dumb question
Morning all, Pension’s, definitely time to start trying to learn. Let’s start with the most basic lack of knowledge question So have about 5 different pension pots, 1 from early 20s, 3 since Covid through workplace. My main pension started in 2010. So my question, Not sure if the change from 55 to 57 means I have to wait…
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Poll: Pre vs post retirement disposable income (actual or planned)
SO pre retirement our post tax, post mortgage, post retirement savings income was about 30k pa. Now I have retired, have paid off my mortgage, no NI and less income tax it is likely to be closer to 55k. Not that we are likely to spend it all. Anyone else finding their planned / actual post retirement 'disposable' income is…
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LGPS – Two Jobs, Semi-Retirement at 60
Hello, I currently work two jobs and I’m in the LGPS for both. I’m in my mid-40s but only started paying into the fund around 10 years ago, I don’t have any other pensions outside of the LGPS. At the moment I’m working around 58 hours a week, but I’m starting to think about semi-retiring when I turn 60 — the plan would be…
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Maxed out TFC what to do with small uncrystallised pot
I have maxed out my TFC from my SIPP (moving funds into drawdown) and have a small uncrystallised pot left over. I am wondering whether to move that into drawdown or leave as is? Is there any difference? It seems to me there is not on basis of current rules, but I suppose gov could decide to fiddle with the laws in a way…
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New CS - Advice for future planning with spare income each month
Hello, I have recently joined the civil service and am looking at the options for a few hundred pounds I have spare each month. I am 40+ years from NPA. I have built up an emergency fund and have a S&S ISA with a global equity fund. Can anyone explain the pros and cons of buying added pension, EPA, AVCs linked to the Alpha…
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Home Responsibilities Protection (HRP) payment - How Long for Update?
Hi All I wanted to ask what peoples experience has been with claiming HRP? My mother ( who is 75) received her letter from HMRC within 3 weeks to say she was owed HRP on her NI Record. This was back at the beginning of March and has since heard nothing else about what she is owed or if her pension is going up. Should we…
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Pension pot and annuities
Hello everyone My Husband has just resigned from his job, he is 64 and half. He had worked for the same company for the last 30 years and contributed to the workplace pension. He now wants to retire and get his workplace pension. Originally it was Scottish widows, but company decided to change to Scottish Equitable,…
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early retirement reduction factors CS pension scheme - different for active/deferred members?
I have a mix of Alpha and Nuvos pension - thinking of leaving the CS next year after 17 years. Checking my account and MyCSP doesn't have the retirement modeller on it any more? From memory it would be more advantageous for me to take Nuvos/Option A but I am still working things through. Are there any differences in the…
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AJ Bell pension
Anyone here already taking payments from an AJ Bell pension, I’m due my first regular payment from this month (was expecting it today) but have just noticed it’s paid by BACS today and expected to hit my account in next few days. just wondered if anyone has experience of this, what date does the money usually hit your…
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Taking HL draw down
I have started the process, but it didn't complete. Moving from an Hargreaves Lansdown SIPP to drawdown. I assume that you can hold shares in a drawdown account, just like a SIPP. Can shares be moved from a SIPP directly into a drawdown account, without selling the shares? Is a drawdown account very similar to a SIPP,…
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Trying to find a SIPP platform and fund that can be essentially hands off in retirement?
I think I'm looking for something that may not exist, any pointers or signposts welcome please. I'm about 60, have stopped paid employment, no debts, house owned outright, plus an good DB pension indexed linked to a maximum of 5% PA and a full state pension at age 67 and don't need any extra income to maintain my lifestyle…
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Grandparents specified tax credits
Hi If a grandparent claims Specified Adult Childcare credits,say for looking after their daughters son who is 7 . Daughter work's full time and claims child benefit.Dose the daughter loose out on her pension National insurance credit that goes towards her pension? Hope this makes sense. Thanks in advance.
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: How long before your state pension increase actually comes through? by molerat
12 August at 2:31PM
