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USS Growth Fund performance vs Vanguard passive global fund performance
Hi, For the past 2 years Ive been making big monthly AVCs into my USS pension scheme (USS Growth Fund). Ive also been making much smaller monthly contributions to my SIPP (Vanguard LifeStrategy 100% - Accumulation). I might be wrong, but it seems the LifeStrategy 100% (and many other passive global trackers) have performed…
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Self Assessment: Baffled by State Pension figures
I am attempting to complete my Self Assessment for 2024/25.The State Pension figure on the online form is already filled in by the system. The figure given is £13031.I may be being stupid here but I cannot understand where that number comes from.The HMRC website only gives weekly figures for the state pension.…
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Am I better off making AVCs salary sacrificed or not?
Hi all, I have my pension with USS. At the moment I pay monthly £2.4k AVCs into the USS scheme. I also pay £17k pa into my SIPP. (Im aware this tips me over the AA. I know this removes the tax incentive, but my thinking is that at least I know Im using my AA, and the few K Im contributing above this, I would only invest in…
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Pension recycling query
I apologise if this has been asked many times before but I tried searching the forum for "recycling" and it came up with a lot of non-pension related threads! Anyway, I am rapidly approaching my 60th birthday and have a small pension pot with Scottish Widows that is due to be available next month and I need to decide what…
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Civil Service Pension Tax Code means I'm worse off?
I can't understand why my civil service pension has increased this month, but I'm worse off because my tax code has been changed from 194L to 3L? My State Pension has gone up from £921 to £943.10 - is it to do with that? What's the point of increasing the pension but then making people worse off by changing the tax coder?…
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Paying £2880 into pension when retired
Jamesd wrote in another thread the following: "She can make £720 a year tax free by paying 2880 net into a pension, having it grossed up to 3600 then withdrawing it. Can only do the withdrawing part from age 55. Can only pay in for this until age 75." I have just retired at 60 and have transferred my DC pension to a new…
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Vanguard SIPP - Timescale for drawdown
Due to the increase in the Normal Minimum Pension Age from 55 to 57 in 2028, I’ll only have a 3 week window after my 55th birthday to move my pension into drawdown. My current workplace pension provider can’t guarantee they’ll be able to process this within that timeframe. I’m considering transferring to Vanguard, as I…
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SIPP and IHT
I am still baffled by the new IHT on pensions that will come in next year. I have inherited a SIPP, which allows tax free withdrawals. I have written in my letter of wishes that this passes on to someone. It seems if I die before 75 this will also be tax free. But, as of next year there will be 40% IHT on the pension pot.…
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Pension Schemes Bill passes through Parliament and in to law
https://www.pensionsage.com/pa/Pension-Schemes-Act-comes-into-force-in-landmark-moment-Bell-says.php New phrases we will hear more of include, the pension dashboard and mega-funds. PPF and FAS members whose original pension schemes offered pre-'97 indexation will get the max 2.5% uplift - likely to start from 1st January…
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Question about planned SIPP transfer
Hello, To take advantage of a 1% cashback offer offered by a platform called Freetrade, some time ago I initiated a SIPP transfer from my current provider, Interactive Investor. I just got a secure message from Interactive Investment informing me of a particular limitation which Freetrade imposes on SIPPs held with it…
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Royal London Income Tap
Has anyone used the Royal London "Income Tap" to use as taxable income withdrawals. I am understanding that you can allocate a portion of your fund from your main investment portfolio into a deposit fund where it is protected from stock market fluctuations. I was looking to move about 12 months of monthly income payments.…
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Pension transfer with GAR
I wonder if anyone can help me with a query. My partner has 2 policies with Royal London (ex CIS) they both have GAR. One is listed as a personal pension plan the other says appropriate personal pension plan, the former has a transfer value of approx £18500 the latter £40,000. She enquired about transferring the £18500 one…
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A German Pension for an Englishman who finds out he can be German?
I am born and bred in this fair land and have worked here all my life. My mother is German. The Germans have changed the law so that I can now become German via my mother. Now here is my question: do my contributions to the UK state pension entitle me to a German pension. If the UK was still in the EU I think the answer…
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70 and wanting pension advise please.
Hello, I would be really grateful if anyone could give me some advice on the best way to proceed with claiming my pensions. I have been on the pension wise website and completed the questionnaire but am still confused with options. I have 3 pensions that are with one provider and I with another. My aim is to take the 25%…
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Lump Sum Allowance and Death Benefit Allowance Certificate queries
I have a pension managed by Phoenix Life. The pension plan was originally with NPI. The pension was made up of four identical plans (just because that's the way it was set it up originally in order to provide for future flexibility in drawing pensions). In November 2020 (for each of all four plans) I took the 25% Pension…
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Teachers Pension Scheme and CPI increase
Hi, My wife will be taking her pension this Friday (10th April) which is obviously after the 6th April when the 3.8% rise applies. I understand that any rises when the pension is in payment will have their first increase apportioned. As her pension was NOT in payment on 6th April 2026, and I assume she was still a deferred…
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The time has come!
Tomorrow is my last working day in my current post after a very very long time 😊and then, on Friday, I have my farewell section lunch and official celebration. Fortunately no problems with claiming my pension from SAUL. Lump sum is due early May and first pension payment later in the month. I have things organised for the…
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Pension Bee - honest experiences sought
I'm thinking of using Pension Bee to consolidate my pensions. I am aware of my main public sector one but I have a number of small private ones that need tracking down, which I could probably do myself - but seeing a recent ad for Pension Bee made me think that it might be easier for someone else to do the legwork. Most…
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PCLS recycling
This FOI request may be worth keeping an eye on for those interested in this subject. https://www.whatdotheyknow.com/request/pension_recycling_investigations#incoming-3391967
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SW (old) Work Pension plan
I have 4 funds on my SW pension plan: 1. Scottish Widows Global Equity CS8 2. Scottish Widows Pension Portfolio Two CS8 3. SW SSGA International Equity Index CS8 4. SW BlackRock ACS World ex UK Equity Tracker CS8 On my SW online account there was a £32.54 cash balance, when I queried it SW said that it was a fee and later…
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