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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…
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Tax assessment for Belgian State Pension: how they did it
Good morning everyone. Facts: Single Person. Non-resident in Belgium. Resident in UK 1) Has a small Belgian state pension of around 2000 euros in 2021. This is the first year I received Belgian state pension payments. This is declared for "Belgian assessment year 2022" which covers income for 2021: 2000 euros is reported…
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LGPS Final salary
Hi, I have been receiving an honorarium (non contractual)since September 25 and will continue to do so till my lds on 30th June 26. I have pre 2008 service, should this be included in my Final Pay calculation? As it would make a difference to my pension and automatic lump sum? Thanks
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Using savings or taking pension funds in early retirement.
Hello, I am 61 years old and have two pension pots. Both are Defined Contributions type. One (personal pension) I do not pay into any more so is only growing through standard portfolio investment and time, current value approx.£185,000. Whilst the other is a workplace group pension scheme which I contribute to via a salary…
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Preparing for moving to withdrawals. Help to simplify, consolidate and avoid tax traps
Hello. I am hoping that someone can help and advise (in the non technical sense) regarding starting withdrawals on investments. I am 66 years old & am asking about a SIPP currently held with Best Invest and valued at about £150,000 and an S&S ISA with Iweb valued at around £250,000. These sums have been accumulated over…
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Standard life staff pension CETV
I am looking for any help that someone might be able to give on standard life staff pensions. My ex partner was employed by standard life circa 2006. Does anyone have any idea how the CETV value for the pension is sent out as what I’ve been sent through the solicitor doesn’t like anything like mine from my employer. The…
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Cash buffer dilemma
afternoon all , #i have often read that on retirement you should have a cash buffer within your "portfolio" so can ride out any market crash when you may need to access cash instead for say, 2 years. My query is as follows.. My wife has just retired her overall pot came to £400k (albeit high share prices at moment), it is…
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AVC help
just after some advice. I have a part time job and a pension which push me into the high rate tax bracket. The 40% tax is taken from my pension. I am on a BR tax code for my part time job. I took out an AVC a couple of years ago to reduce my tax which comes out of my pay obviously. I therefore get the 20% tax relief on the…
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state pension payment date
I live abroad, have claimed my UK state pension, and just received a letter of confirmation. It explains how much I will get (exactly what I expected) and how it was worked out, but it (oddly to me) doesn’t state the date when the payments will actually begin other than explaining it is paid in arrears at the end of 4…
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Found forgotten Workplace Pension
Hello. I have recently tracked down a workplace pension that I had paid into for a few years from some while ago. Long story short- Age 55 , self employed sole trader ( for a long time) and only just (rather late) started a SIPP following some great insight on this forum so literally just late navigating & understanding…
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My Wealth Private (Wealth At Work)
Does anyone have any experience of moving their savings and/or DB pension to My Wealth Private for them to manage? I'm approaching retirenment in BT. Their seminars and individual advice has been very good so far, but I'm undecided about transferring everything to them to manage, as I can find very little around their…
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Protected Rights pot (contracted out of serps)
I joined the nhs in the late 80s and stupidly didn't join the pension scheme. I took out a private pension in the early 1990s, with which I purchased nhs pension years in mid 1990s. A colleague told me she found an old contracted out of serps pension. Could I also have a similar pot from the early 1990s? Checking on…
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First SIPP with 100K lump sum allowed?
Could anyone clarify a question on SIPP contributions please? I would like to open my first SIPP and pay in a lump sum of about 100K I have my Nest contributions directly from salary which were approximately 2K last year. This is the only pension scheme I have been contributing to and it started 8 years ago. Given tha, am…
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Pension Commission (interim) Report out today
https://www.gov.uk/government/publications/pensions-2050-evidence-and-future-priorities-interim-report The interim second Pension Commission report has come out today. This Commission is exploring the long-term questions of adequacy of pension provision and retirement outcomes in the UK. The Commission will publish and…
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what percentage of equity do you hold in your retirement pension ?
https://global.morningstar.com/en-gb/personal-finance/how-make-your-money-last-retirement i know some posters on here say they have 100% equity , and 60:40 seemed to be most common, but this gives food for thought , for once retired , if your exposure should be lower Mick
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Withdrawals from consolidated dormant Pensions
My husband and I both have old dormant pensions that we do not contribute to but are still increasing due to investing. We were thinking of withdrawing a lump sum from our from this pot to pay off our mortgage; as we both still are working and both are in the 20% tax bracket and contributing into work place pensions. If we…
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How is ill health efficiency worked out in CSPS (Nuvos/Alpha) ?
I have a link to the various CSPS guidance Notes but I am struggling to see how to work out my reckonable service from the guidance notes. Edit - removed identifying detail
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Pension Transfers
My wife is 68 and has a Personal Pension with Octopus (formerly Virgin) called a Self Drive. . Octopus do not permit the taking of a 25% tax free lump sum and also only pay out as lump sum. They suggest she transfers it to a company that does. Do anybody know of a company that permits transfers in - then a 25% She has her…
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Small pots £10k rules - the latest mse email
Just read the latest email email explaining pensions. Read the low incomes tax reform group website too. What's to stop someone who is age 55, working and in the 20% tax band from starting a small pension say £6000, getting 25% tax relief making it £7,500 Then cashing it in. Getting 25% tax free £1875 and paying 20% tax on…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
751 discussions
6.5K comments
Most recent: Guide discussion: Voluntary n… by Haydn_T
22 July at 9:34AM
