-
Home Responsibilities Protection (HRP)
My wife who is 75 has suggested I post this question because me, being nearly 80 and confused about whether or not she is entitled to receive Home Responsibilities Protection (HRP) the latest pension payments blunder, cannot give her a qualified answer. Born in 1948 her records show that she gained only 27 of the 39 full…
-
Advice on spouse pension - Vanguard Target Retirement fund (lifestrategy?)
Hello all quick rundown on my Wifes pension provisions Age 56 and hoping to retire in 3 years time (4 at max) age 59 ,sometime in 2026. Currently has a portfolio of about £265k £130k in banks ( i know this is far too much , unsure what to do though) £70k in S+S ISA 60% equity 40% bonds and £66k IN Vanguard Retirement Fund…
-
Fixed Term Annuity - Use Part of Drawdown, Or The Whole Hog in This Product?
We’ll be meeting with our IFA in a couple of days time, and I know this product will form part of the discussion. Whether the advice will be to fully engage in this for a period of time, or do part drawdown part annuity. I am 61, have a drawdown total pension fund of £618k. Within this, £484k is taxable, £134k is…
-
Flexi Access Drawdown
So begining to understand exactly how Flexi Access Drawdown Works So for every £1 of Tax Free Money you take from pot , £3 gets moved to Flexi Access Account and is only taxed when you make a withdrawal ? My questions are - My pot is invested in Royal London Governed Portfolio 2, Charges 0.4% and I also have Profitshare.…
-
Getting the state pension? Don't bin an HMRC letter that may be worth £10,000s – it's NOT a scam
If you're getting the state pension and receive a letter from HM Revenue and Customers (HMRC) in the post, DON'T bin it. It's not a scam, and it could help you boost your pension by £10,000s. Read the full story: Getting the state pension? Don't bin an HMRC letter that may be worth £10,000s – it's NOT a scam If you haven't…
-
Personal Pension forecast
I have a personal pension with Vanguard who have just told me that they do not provide a personal Pension Forecast. I just called ii and they told me the same Can anyone tell me a pension company that does provide a Personal Pension Forecast? Thanks, Secornes
-
Pension-finding tool used 1.2m times - MSE News
There are billions of pounds swirling around in lost pensions and figures released to MSE by the Government show its free Pension Tracing Service tool has been used 1.26 million times in the first nine and a half months of this year...Read the full story: 'Pension-finding tool used 1.2m times - how to track down your share…
-
What is my real asset allocation?
How would you interpret the following situation? Pre State Pensions...If 18% of expected initial retirement annual spend is coming from a fixed income source of a defined benefit pension and the combined invested defined contribution pensions/ISAs is invested 85% equity index funds and 15% cash/money market funds and the…
-
Changing Funds
Hello, I’m currently invested in the Standard Life 10 year multi asset lifestyle fund. A friend who is a little sharper on pensions then me has suggested mixing my current SIPP into the following funds. Just wondering if anyone could offer any opinions on whether these are suitable/decent funds for me to invest in? SL…
-
What do we need? Pension advisor? Financial advisor? Are they the same or different?!
Hi money gurus! We need to get advice on a few things and aren't sure where to start or who to be asking! My wife (aged 49) has a pretty decent company pension from the company whe was with for 12 years until a few years ago, I believe that it's now on hold (as she left) and we need advice on what to do with it. I think…
-
SHORT FIXED TERM INCOME PLANS
I would like a short fixed term income plan for 2 to 3 years. I just want to de-risk what i have for that period while still creating some revenue. This works for me as it keeps me under my personal tax allowance. Having completed a quick internet search legal and general seem pretty good and also seem flexible. Looking to…
-
CS Alpha annul allowance Calc
Am I right today's inflation figure lets us do an annual allowance calc for CS Alpha. (1) Take annual payable amount as at April 23 and uplift by 10.1% (2) Take (forecast) annual payable at April 24 and uplift by 6.7% (September CPI) Deduct (1) from (2) gives annual pension input amount?
-
Cash in SIPP, when to take the plunge?
I've recently paid some inheritance cash into my ii SIPP, up to my annual limit so roughly £40k. Along with some cash sat in an ISA, I wanted to get this invested in a global tracker but with the current troubles in Gaza etc and with Iran now starting to make threats I'm kind of thinking it may be a bad time. I know drip…
-
Can you specify an exact date to claim state pension?
This is hypothetical at the moment as I'm still 15 months away from state pension age but although I know you can defer your state pension, can you actually specify an exact date you want it to start? The reason I ask is because I reach 66 just a few weeks before the end of the financial year (8 ish). Rather than have the…
-
Best date to retire and claim state pension - advice required
I am eligible for state pension early April next year. My question is should I retire exactly on my birthday or after or at financial year end. The ideal for me would be retire mid March but does that have any great effect on payments?
-
Total pension contributions advice- moving from unemployment to employment
Hello I am a PhD student and have been since 2019. I am not employed by my university, so I earn a stipend not a salary and I don't pay tax. Considering this, I can pay £2880 of my own money into a private pension, plus tax relief, total £3600 each year. This is something I have been lucky enough to be able to do, but this…
-
Higher tax payer nhs pension and AVC! Help
Hi:) I work in the NHS and have been working lots of extra hours which is fine as I actually love my job and like the additional money for holidays etc. however the extra hours have tipped me into the higher rate tax bracket (40%) and aside from a large tax bill I know need to pay I started researching how to minimise my…
-
how safe is safe ?
Hi all, as explained in my previous threads, I am approaching 63, still working, and about to access a DB pension (taking the max TFLS) since 63 was the NRA of the scheme I was in (a former employer). I will also qualify for a full SP at age 66 and 8 months, and access a Civil Service DB (Alpha) pension at that time too.…
-
Tax Relief on Pension Contributions
Evening all, I was hoping I could get some advice on whether I am due tax relief on my pension contributions. I live in Scotland and work as a teacher, paying into a SPPA pension which is deducted from my monthly wage. For 2022 - 2023: My gross pay was £60,095 and my pension contribution is 10.4%. It appears to be deducted…
-
Fidelity SIPP tax relief payments
I’ve had a Fidelity Sipp a few months now, my pension relief is pending - no issue - question is will the cash on receipt be automatically invested into the index fund or will I need to manually login and do it. My current strategy is a direct debit, automatic buy and forget.