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NHS pension, but want to save more to retire early
Hello all. I'm a 42 year old Scottish nurse that is just starting to think about how I can use my wages more wisely to hopefully allow me to work less in the future. Unfortunately like most people I probably didn't think about pensions and investing until far too late as I was putting every penny before into getting…
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4 days of pension paid in next tax year reducing personal allowance
I started getting a full state pension in March 2025 and had a income below the personal allowance for that financial year. The last 4 days 2nd to 5th April inclusive were paid on 29th April with 14 days for tax year 25/26. 4 days at the rate 24/25 is £126.40 and would now reduce my personal allowance by that much and…
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What am I entitled to on Divorce
I am a 69 year old woman planning to file for divorce. I only receive state pension, but do get a full one, due to NI contributions. It will be a big drop in income for me as my husband has 2 work pensions. Will I be entitled to any form of credit to help me pay bills please?
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Pension v ISA after age 75
I am aged 73 receiving state pension. I have previously cashed in a small personal pension pot and I also have an untouched DC pension which I no longer pay into worth about £110,000. I understand that if I’m lucky enough to die after I turn 75 (2027) this will be part of my estate for IHT purposes AND my spouse will pay…
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Nest (workplace pension) V alternative with surplus funds
Evening, I have roughly 20 years until I retire and starting starting to plan ahead now.. ( late I know) My Nest workplace pension currently stands at 27k.. 9k paid in by me, 11k by workplace 7k profit.. Now my question is... if I was going to add an extra monthly payment of £200 would this be worth just adding this to my…
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Optimising for early retirement - mortgage, S&S ISA, cash ISA etc
hi would appreciate some thoughts and advice on optimisation of pre-pension savings to fund early retirement (or at least stepping back from serious work)... Brief situation i am 45, partner 40 - our pensions are pretty much sorted with well over £1mil+ in DC pensions / LISA's and my partner is in the LGPS. We both have…
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What about inflation?
Hi I do the calculations (with compound interest etc & regular payments) and plan to have £1 million saved by the time I am 55 to retire. But! This is 12 years away, so £1 million will be worth quite a bit less. If I was younger & projecting my future savings plans further into the future, the inflation would be even…
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DB Pension revaluation for deferred members, early retirement calculation
Having just became a deferred member of my Final Salary Scheme (one of the few still open private ones), I am checking my expected pension if I chose to retire early. I have a copy of the early retirement factors for both Active and Deferred members, Active is just a straight 4% per year, however deferred is more…
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GMPE Past Transfers - GMP equalisation claim form
Dated January 9 2024, I received a letter referring to my transferred out benefits on 21 May 2007. 'Mercer' identified an underpayment in relation to the transfer value being undervalued as it did not take account of GMP equalisation. I duly completed the claim form on January 12 2024. The amount is relatively small.…
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Paying into current LGPS AVCs after taking pension from previous LGPS employer - am I recycling?
Hi all, Following an investigation by the Ombudsman, I may be receiving a TFLS of approx £30k along with my regular LGPS pension (backdated to 2021) from a previous job. I didn't think I'd be receiving this and I've been paying into my current employer's LGPS scheme since 2022. At the beginning of this year, I began paying…
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Civil service premium pension
I'm doing some forward planning looking into my pension prediction. I've recently checked my ABS for my civil service pensions and the premium calculation seems to be incorrect. Can anyone help me with the following questions? The premium pension value is based on: (1) Pensionable earnings in last 12 months(2) Best…
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Civil Service Deferred Classic pension
Hi, I’m after a sounding board here if I may. Some of you, I know, are very knowledgeable on these matters. Are there any advantages/disadvantages to buying out (or just claiming and not buying out) my deferred Civil Service pension 2 years early, whilst still working for another 6 months in a non Civil Service job? I’m…
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Is this pension performing poorly or not?
Hi, all I have a pension with Scottish Widows ( shows up in my Halifax app ) which is frustrating me. It's crystalised as I took the 25% tax free withdrawal a couple of years ago. I don't contribute anything to it. For years now it's just seems to hover at the same level (around £110k). It just doesn't grow, but maybe I'm…
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drwa down
HI Hope all are well can any one hlp as not sure what it means as had halixf poly taken over by scotish widiwds moved other policy in th scotish widows one now get this
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My Annuity Purchase
I have just
purchased an annuity. I thought I would post the story in case it helps anyone
considering one for themselves. I am 60 and
retired. I have a good sized diversified portfolio, sufficient to provide for
my needs and reasonable wants for the rest of my life. So I took a look at some
of the things that could…
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civil service DB increased lump sum
Hi all. New to this site, but not to MSE. Is there a simple answer to the question of whether or not to take an enhanced lump sum (80% increase) in exchange for a 20% drop in my monthly pension in my DB pension. I wasn't aware I could get an increased lump sum, so I'm in a quandary. I am approaching 60, when I can take my…
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MyCSP - deferred member or not?
Looks like another myCSP saga in the making. Just after a bit of advice. My wife applied for her pension back in December last year through payroll as she was due to retire in June 25. Having heard nothing by the start of May we chased myCSP and they could find no trace of the application. So we got on to payroll and had…
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Any viable options or suggestions please?
Update: Just a “thank you” to everyone who responded, certainly responses and pointing to related threads provided different ( & broader) perspective 🙏 Given the unearthed DB also has an embedded widows benefit I’m coming to conclusion I’ll not get IFA support for moving to a SIPP, therefore receiving SIPP scheme also…
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Teaching assistant pension
I worked as a TA for local authority from 2000 to 2012. Should I have been offered a work based pension?
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Gifting from excess income as a couple
My wife and I have a joint accounts and a joint credit card. As well as that we have our own ISA’s which produce some income and we also make small lump sum withdrawals from a SIPP (approx £10k per year but generally for one off spends over the last couple of years - e,g. Daughters wedding, special cruise) By far the…
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Most recent: HMRC call back wait times by molerat
29 August at 10:37AM
