Pensions, annuities & retirement planning

I retired 5 years ago and as I am not yet state pension age have been living off Pension Drawdown (as has my husband, both with separate pensions). Every year when the new tax allowance comes in my husband draws out the maximum within his tax allowance and a couple of months later I do the same. This means that each year…

If you had a FP policy now Aviva perhaps you will read this. Bonuses have not been added to my policy. I questioned this on a telephone call and was told bonuses were not applicable to my policy. I checked back and FP used to pay them annually. I then got a letter in the post in June from Aviva saying sorry, you were given…

Hi everyone, I’m 62 years old, still employed full‑time, but rising costs are really stretching my budget, so I’m considering starting to take money from my pension. My situation: Still working, receiving regular salary Divorced; paying maintenance for my 16‑year‑old son Concerned about how drawdown will affect my tax…

https://www.gov.uk/government/publications/reforming-inheritance-tax-unused-pension-funds-and-death-benefits/inheritance-tax-on-unused-pension-funds-and-death-benefits#general-description-of-the-measure Key point of departure from original announcement, the liabilty has shifted from the pension scheme administrators across…

I thought I was reasonably switched on with this stuff but my tax codes and predicted income on the HMRC site are a bit all over the place. Do I just keep an eye and hope it will sort itself out or should I be more proactive? Pension 1: Tax code 578T - my NHS pension made up of two elements, a smaller 1995 pension which…

Fixed Term Annuities - I don't need advice, I am looking for an execution only service. I have been using Money Helper calculator to get some figures, I suspect these might be reasonably accurate, but i need to go to individual providers to get accurate quotes (where they deal direct with individuals), or go through a…

I have been claiming Marriage Allowance for the last two years. My wife is now receiving her State Pension and I assumed that as she is about to reach the Personal Allowance threshold, then the allowance would cease and that I would receive a revised Tax Code. I understand that this will result in me paying more tax.…

there's a few pension video inc Ai junk or is it.I've not watch any of them. I get a state pension as my wife do. I get a small pension on top but not much. need we worry or is it just scaremongering.I don't see anything in the news or papers. HMRC Pension Shock: New 2027 Tax Projections Reveal Bad News For UK Pensioners

I retired 5 and a half years ago at 60. Since then I've been drawing on a private pension for income. Looking at purely numerical values my pension and savings have increased by a little over 31% in that period. I decided to see what impact inflation has had and…wow. Using CPI I'm worse off, using CPIH I'm treading water.…

My wife and I are planning on retirement in the next couple of years. I am quite financially literate and set up a Sipp for my wife after she wound up her own business and also transferred one of her old workplace DC pensions into it and I have managed it for the last ten years. I have already taken some DB pensions at age…

I got a quote through HL. I'm not sure whether to go the annuity route or not, I'm just looking into it. It would use the money in the HL sipp. The highest single life, no increases, no guarantee figures are Just. £9374 L and G £8654 Scottish Widows £7581 Aviva £7105 So, there's quite a variation. I'm not sure why anyone…

Hi all, I’m new to this forum but would like to ask if anyone has any experience with GAR pension policies. I have a relatively small but > £30k pension policy with a GAR, which I would like to transfer to a drawdown arrangement. I am in the fortunate position that I will not be reliant on this money to live on as I have…

I am interested to hear if anyone is thinking about de-risking their current pension portfolio in light of current speculation around a potential pending market crash? I am obviously aware of the dangers of doing this, not timing the market and also leaving investments as a long term project, however, i doubt people will…

been playing with bridges. I do plan to have this money mostly in fixed income. slowly moving into IGL5 with the view of maybe some CSH2 before retirement to fund the bridge each year as needed with low volatility funds or a bond ladder to lock in yields. However, the question then is ‘when’. playing with ChatGPT and…

Thanks to encouragement and sound advice from the lovely people over on the how much to live on thread, I have decided to retire sometime between now and April 2027 next year aged 61. I already have a DB pension in payment, I pay tax on this via a BR tax code. I work part-time, earning £15Kpa and will take my small LGPS…

Hi everyone, I’m sure this would have been asked a thousand times before so I apologise. I’ve recently started a new job that has a workplace nest pension. I have 2 older workplace pensions that are both with different providers. There isn’t a great amount in them but the amount is large to me, question is what to do with…

Hi All, I am trying to transfer an old pension of mine from Aegon to my ii SIPP. ii have requested that I fill in a Financial Advice declaration form because the transfer is over £30k. The pension has section 32 buyout protection, which grants me more that 25% tax free cash. As I am NOT going to take any tax free cash and…

hi all can anyone help im 57 and have a db pension with avc's i signed all the paper work off end of jan to start claiming my private pension for start of the new tax year i dont have a passport so i had to send a copy of my driving licence and 2 bill inc bank statement the id is now still the hold up ive been on the phone…

I've got something in my head and am convinced that i'm going to diddle myself out of money. I've tried googling and AI-ing it but can't locate a sufficiently clear answer. I wonder if someone can help? When the assessment for premium scheme entitlement is undertaken it assesses your final pensionable earnings as part of…

Hi i had my pension quote from royal mail im in section C - my understanding is that theses are the figures if i decide to take my pension at 55 My RMPP pension shows the following Option 1 regular income £1503 pa tax free cash none tax free cash from cash balance none leftover benefits from cash balance none Option 1A…