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25% tax free from one of two pensions trigger MPAA
I’m 55 and planning to use my 25% tax free lump sum from ONE of my pensions. As a scenario, consider I have two pensions: Pension A, current value £100k, DC, old workplace stakeholder pension no longer paying into. Pension B, current value £400k, DC, current workplace pension being payed into by employer and me. I wish to…
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Looking to retire next year (62)
I'm looking to retire next year - I currently have a DB pension playing out - about £11k PA - so that will take up most of my personal allowance. I also have a Civil Service pension, but rather than take that 5 years early ( and take the hit of only getting 0.76 of it's value I'm going to leave it where it is. Instead I'm…
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Non-resident landlord pension
Hi, I'm a British citizen living overseas (with no double taxation treaty). My property portfoilio has grown and the net income is now past the tax free allowance, hence I'm paying UK tax. I'm wondering if I can open a UK pension and pay into this to offset the tax liability, but I can only find info for UK residents. Does…
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Teachers' AVCs with Prudential
My Prudential AVCs are modest but have ten year's worth of savings in there. I wanted to draw 25% lump sum and leave the rest to crystallise until I have decided what to do with it (combining with other pensions into a final annuity for example). I was sent the options pack and called the number and shared what I wanted to…
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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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Should i stay or should i go
Hi everyone I'm looking for advice if i should stick with Quilter or transfer to HL. I have 320K in Quilter and 47K in HL. My HL is doing far better than the run by Quilter. If i had all my pension in HL i would be 24K better off and that's for this year alone. Quilter have invested my pension in stocks and shares and some…
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Take DB pension early,
Am I missing something here I'm 57 next month and plan to go at 60 In the mix I have a small final salary that's forecast to pay around £4kpa at 65 But found out if I take it next month they will pay me £3k pa so that's £24k before I get to 65 Yes it's taxable but would just pay 3k it into my current DC pension for the…
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Capita gets final approval to take over admin of civil service pensions
Saw this article earlier today: Capita gets final OK to run Civil Service Pension Scheme It may just be me, but there certainly seems to be quite a bit of "if all goes OK" fingers crossed in there ... !
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Pension investments/Global crash
Hey I've been reading a lot about a potential stock market crash due to A.I. stocks being overinvested to the extent that a crash could happen (as suggested by the gold price surge). This has got me concerned, as my pension is heavily invested in the BlackRock Global Equity fund, which has large holdings in US tech stocks.…
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Annuity or take the CETV
I have descent DC pot which I intend to use drawdown income from and together with partners DB income and ISA interest and State Pension we will be comfortable during retirement. we are both 56, and retiring in the next year. I also have a DB pension from an old employer which is worth to me £4500 per annum as an annuity…
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NEST Sharia - changes to fund.
Just received this email. Any thoughts on what this might mean? —————— The Nest Sharia Fund is for anyone who wants their pension savings invested in line with Islamic principles. It’s open to all Nest members, regardless of faith. You switched to this fund in xxx xxxx. Until now, the Nest Sharia Fund has only invested in…
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Using an annuity to reduce IHT ?
Googling indicates it can, the capital used to buy the annuity is considered spent so is no longer subject to iht. So far so good. But when you die, the annuity stops, or passes to spouse which is iht exempt anyway..... So where's the annuity/IHT benefit...?
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Interesting TEDx talk on the 4 Phases of Retirement
Just come across this interesting 13-minute take on retirement 👍 (apologies if this has been posted before) The majority of threads here focus on finances, & whilst that is clearly very important, perhaps not enough time/thought is spent on the other elements of retirement 🤷♂️ His topics cover vacation, loss, trial &…
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Pension Help
Help looking for some advice. I have 3 small private pensions, 2 with ReAssure and 1 with Nest. The 2 are worth around £30K each and the other £16k. I am 72 and claim a state pension as well already receiving a private one. (I left my job this year in May) I want to withdraw the tax free lump sum, (sorry if this sounds…
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YouTube recommendations for investment advice
Hi, I'm 5 years off retirement and am now going to divert future contributions towards building a near cash buffer. I'd like to explore a bond ladder but wondered if there was a YouTube video that anyone would recommend as trustworthy. Many thanks.
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Moving from Alpha to Partnership - tax code change question.
Hi all, I’ve switched from Alpha to Partnership. £2,800 a month is deducted by payroll. L&G add £700 for basic rate tax. My Department pays £1,500 direct to L&G. Total is £5,000 or £60k per year. Perfect. Total contributions are £2.8k x 12 = £33.6k, so I think I’m due an extra (40%-20%) x £33.6k = £6.7k refund. Ie my tax…
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SP Bridge Strategy
I have ear-marked a sum in my SIPP as a low risk (largely in STMM) basic expenses bridge to SP pot. My original thinking was to draw this using UFPLS from the SIPP topped up with some ISA income for tax efficiency. While pondering this it occurred that my OH has some headroom in her annual allowance so it might be better…
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Tide business current acct-Vanguard
Hi im trying to set up a payment to Vanguard from my Ltd company Tide acct, however not allowing me as states the card is not a debit card but a credit card. Tried all ways however doesn’t seem to allow me- any ideas?
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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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Maximum contributions on pension
Hi all So does any1 know how much i can contribute to my workplace pension. I cant find the answer online it just says cant go below minimum wage a really dont understand it. So i Earn 32k and really want to put as much as possible as i am playing catch up as i have never had a pension before. hope someone can help thank…
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: STATE PENSION FORECAST ERRORS by Papa_Roo
3 November at 5:45PM
