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Annuities and IHT
Is anyone looking at annuities which leaves a balance on death to a spouse and potentially avoids IHT ?
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Tiny pension from previous employer
Hi there, I have a tiny pension pot from an employer I was with for about 2 years. The sum is only about £200 so far (estimated to be around £400 at retirement age). As I've found I cannot withdraw it, what are my best options please? I was hoping to withdraw and put it into a savings account but from the little I've read,…
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HL 2880 to 3600
Hi i paid 2880 into sipp which has been increased to 3600 and i am now trying to withdraw it I have been unable to set up a Nominated Bank account on line I rang them and they said i had to decide how i want lump sum before they send me application to withdraw. crystalizes something I am so outta my depth , i have small…
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Can I buy a deffered annuity now?
I've researched annuities a lot and have finnaly finnaly decided to buy one in the next few weeks and definitely getting it locked in before before the next budget. I've decided the amount of cash I'll use from a DC SIPP to fund it and picked RPI with Value Protection VP of 75% as 75% just felt like best balanced value, I…
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Royal London GPP - Entire pension re-invested into higher risk fund without consutation.
Hi all. Quite a long post, so please bear with me (I also have to spread this over multiple posts as I only seem to be able to add one image per post.! Before giving Royal London a call (which I don't feel hopeful about getting a sensible answer out of), I was wondering if some of the pension experts on here can explain to…
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Defined Benefit Pension...buyout in 2001. Compensation received but query of terms on lump sum.
Hi...I had a company DB Pension during the 1980's that I transferred to a Buy out when I changed jobs. I then received a letter from the Pension company saying they might have missold and do I want to claim. I did and the Pension company transferred the pension scheme into one that had the same rights as the original…
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Any point to choosing UFPLS?
The main difference between UFPLS and Drawdown would seem to be that with UFPLS you have to take both tax free and the taxable income straight away. With Drawdown you take the tax free and can leave the taxable portion invested and can withdraw from that amount at any time - even the next week if you wanted. As you have…
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have I missed something?
Thanks in advance I have taken early retirement at 55 I have approximately £700k in 2 pension funds I currently have an income of around £30K I am assuming once I take my state pension and private pension I will be paying tax at 40% I don't need to take my tax free lump sum yet I want to make the most of the next 17 years…
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Basic state pension
Posting for a friend Hi I was wondering if any of you guys could help me. I am 80 years old and I received the basic state pension, the old style pension.
I also get savings pension credit on top. Around £12.
If I make money in addition to getting my basic state pension, would my pension be affected or compromised in…
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Withdrawal Spreadsheets ?
Does anyone know of any Excel withdrawal spreadsheets available for forecasting pension withdrawals using different scenarios or any online services?
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SIPP beneficiaries
This also applies to the auto-enrollment pension provided by my employer at the minimum 5%/3% level and operated by "Creative". I'm over a decade off state pension age so not looking to drawdown any time soon. My SIPP (with HL, though I don't think that matters) asks me to nominate one or more beneficiaries to pass the…
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Taking flexible retirement from a LGPS while still working
Hi there, hoping to get some advice on behalf of my partner
who is a member of the West Yorkshire Pension Fund (Local Government Pension
Scheme). She’s 55 and has recently been looking to reduce her hours
from five days a week to four. When she requested this from the HR department,
she was offered the option of taking…
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Pension fund tax free lump sum then drawdown.
I have two finals salary pensions and on death my wife will get 60% of them. My wife will also inherit my pension fund of £270,000 (current valuation) that is untouched. This will be tax free as I will die before age of 75 unless there is a medical miracle cure to my blood cancer. We have own house worth about £500,000…
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Lifetime Allowance to Lump Sum & Death Benefits Conversion??
Would appreciate some guidance as to how the conversion factors work as I've had a strange message from HL having just converted £300K of my crystalised pension pot into an Annuity. I retired in 2015 and fully crystalised my pension pot in 2021 taking the full 25%. On reaching 75 HL published the following figures…
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Civil Service Pension - Alpha - Added Pension Limit explained
Hello, Please can someone explain the Added Pension Limit for the Civil Service Alpha Scheme? I have read other posts, articles, and the guidance on the scheme website but I am still utterly confused. I know the limit (in terms of value) for 2025/26 is £9200 and for 2026/27 is £9600. However: 1) How does the limit apply -…
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Pension, Final Salary - My Brain Hurts!
Dear pension braniacs, I`ll try to keep it brief! I am teacher 63 and could have claimed a final salary (1/80th) pension and lump sum at 60. But TBH I am not a big spender, dont really need any extra income just thinking about retiring in 4 years at 67 ie. just ticking over ... (the odd beer, holiday etc. ie. not a big…
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Effect of Civil Service Pension on Private Pension
Hi I'm unsure as to how a civil service pension can affect a private pension or are they classed as completely discreet? I have asked the question to the CSPS but they have not answered. I left the Civil Service 10 years ago draw my CS pension with lump sum at 60 next year but I'm still working in the Private Sector. Will…
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Life Expectancy Calculators and Prediction Tools
I know most of the regulars on here are fully aware that life expectancy is much longer than most people think. For an average person with no other information this is probably one of the best…
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IHT 403 and use of capital
Looking at IHT 403 I need to declare all expenditure and income. If I spend £3000 on a holiday and I pay for it by taking money from a savings account does this need to be reported in the Income and Expenditure sections and if so under what category?
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Civil Service Pension Forecast Query
I have submitted a query to MyCSP but they are currently taking months to reply, wondered if anyone here might know the answer. My Annual Benefit Statement shows my classic pension to be worth £406 less than it was last year when my P60 and Earnings as at end of March both show increases as would be expected due to a pay…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
721 discussions
6.3K comments
Most recent: Guide discussion: Voluntary national insurance contributions by JimTheseus
14 November at 10:10AM
