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Backdated State Pension
Does anyone know how far back State Pensions can be backdated? In this case the person was receiving Pension Credit but was not aware they were not in receipt of their State Pension.
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Semi retirement at 46
Hi It has been just over 7 years since I posted on here with my plan to retire at 50. A lot has happened since then, the most dramatic was me having a cardiac arrest at the age of 39 in 2020 (not sure what caused it but I was with people that knew cpr and was incredibly lucky to survive), we have moved house to one worth…
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Drawdown Planner Spreadsheet
Hi All, Does anyone know where i can get (or share) a drawdown planner, I've looked at many online but they seem fairly basic and cannot be customised for individual circumstances, plus quite a few don't not allow for inflationary effects, other income or income variation. I'm happy to pay for something that works. The…
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Minimising lifetime tax with drawdown
I have been retired for 2 years now and have been fortunate to see my SIPP increase significantly whilst drawing down my personal allowance via an UFPLS and we have also done the same with my partner's SIPP. (We are aware there is a fair chance her SIPP won't fill PA for the whole time until SPA) We have topped up to our…
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SIPP reducing income for tax purposes
I pay into a Aviva SIPP that is uplifted by 20% by the provider. I also pay into LGPS a with my employer. The contributions added together leave me with around 6000 a year. In addition to this I have interest from savings of around 7000 per annum. I have realised that I am paying tax on some of the interest. My tax code…
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Derisking SIPP
I’m 59 and looking to start drawdown from my SIPP (my only source of future income other than the state pension) next year when I’m 60 (I’ve already taken all the tax-free cash out). It’s currently spread across trackers and investment trusts and is roughly 60% equities with the rest in bonds, gold and wealth preservation…
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ishares ibonds?
anyone using or have looked into these? I haven’t checked what platforms provide them but they seem the closest I’ve seen to buying individual bonds but trading as ETFs. You could use them to generate a bond ladder for example and potentially buy and manage fairly easily within a SIPP platform?
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S&s isa or private pension?
Unfortunately my husband was made redundant at start of april- he volunteered as he had secured another job, which thankfully will start Monday. He has a pension with legal and general from his previous employer. He was paying in to the share save scheme although currently the shares are worth less than what he has put in.…
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Have we reached peak annuity rates?
Now that the higher interest rate medicine appears to be working and gilt yields are slightly down, does it look as though annuity rates have peaked for now? OH had a surprisingly good annuity estimate from Legal and General via moneyhelper, but when he went to the L&G website he got a slightly lower estimate using the…
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Retiring Early SIPP access advice
My wife has retired early and has no income at all, she wants to access her SIPP (£380k) to provide a modest income and also make use of her unused tax allowance. I cannot fathom whether she's better off with flexible access drawdown or an annual lump sum of £16,670 each year. Any advice would be most welcome. TIA
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Which provider to consolidate to
Hello All, I'm a newbie registered but have been reading this forum over many months. I can't get my head around consolidating my pensions, my wife has four, one main personal and three from previous employers. I want to bring them into one so that it would be easier for her to deal with if I'm not around. The question is…
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Time From Requesting Part of Tax Free Pension Money to Receiving?
Hi, I have a two pension pots (previous employer & current job) with Standard Life. I've been logging in checking the pot size, because I'm in the early stages of potentially reducing working hours or even leaving the company I work for (via a redundancy scheme). The total amount in the pension changes on a daily basis…
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State Pension forecast £1.5k above the 35yr New State Pension max?
My wife is in the process of applying for her state pension, after well over the max 35 years contributions. She'll be taking it at normal retirement age, which for her is 66.25 years old. The forecast confirmed by the Gov't Gateway, paid monthly (I thought it was paid 4 weekly?) works out at just over £14k per year. But…
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Fiscal drag and withdrawal strategies
Hi all, Interested in the discussion on another thread here re. fiscal drag (freezing tax bands) and how best to get money out in retirement. My current thinking is start DB at 56 (about 12k, covers essentials, a sort of annuity feel…) and top up with SIPP (front loaded) until SP starts at 68. Aim is to empty SIPP (spend,…
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Uncrystallised DB pension reduced in value
Hi, i was made redundant exactly 4 years ago and at the time I asked for a pension illustration on my DB scheme with the Company I had worked at for over 15 years. At the time the offer was £97k lump sum and £14,800 pa. I chose not to take it but 4 years later I have just asked for a revised figure and they have said £90k…
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85 year rule
Hi, I would like some advice on the above. I qualify for the 85 year rule when I'm 60, currently 53. i understand that any contributions made before 2008 are protected. I have used the LGPS pension calculator and it makes very little difference whether I retire at 59 or 60, just the usual increase that you would expect to…
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State payment pension payment date
My Husband reaches state pension age on the 15th July this year. He applied for the pension in March and has received a letter stating when payment will be made, but can't make sense of the dates. He rang the DWP and spoke to two different advisers, neither of which who are able to explain the significance of the dates in…
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Pension Carry Forward
Hello all. Looking for some input on understanding pension carry forward. Have just started a SIPP last year and paid £60k i have just discovered I had a PRU with profits pension from workplace some 30+ years ago ( whole other thread!) Now I understand I could carry forward 3 years as I did have a pension open. Currently…
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Pension advice
I got a pay rise in April and want to start putting the extra amount I get a month into the pension I am paying into at work, if I add extra money in manually will I still get tax relief on this money or do I need to get my employer increase the amount I pay in via my wage to get the tax relief? Many Thanks for any help
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Pension higher-rate tax relief
Last month I submitted a claim for pension relief, for the following contributions: 2023-4: a one-off additional contribution of £6500 to my Nest workplace pension. I also flagged that I didn't receive higher-rate relief on regular contributions of c.£1400 2024-5: a one-off contribution of £13,500 to my Vanguard personal…
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: Guide discussion: Voluntary n… by Haydn_T
22 July at 9:34AM
