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DB pension - take now and invest, or wait....?
Hi all, Looking for some views on options for a couple of small DB pensions I have from previous employers. In short, trying to decide whether to claim now and invest (currently plan to retire at 67) or leave them in place and claim later. I'll turn 57 in September, and am still working, self-employed, basic rate taxpayer.…
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£45k pension offer OF £2014Pa
My wife has an old pension value of £45k but has a small underpin which prevents her transferring to a SIPP without advice as its over £30k. She is age 67 and been offered £2014 pa indexed linked up to max 5% a year. Is this reasonable? It seems poor to me but there are little other options.
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DB pension planning
I am about to retire at 60, having been considerably helped in my thinking by the good folk on this board. I've been taking another look at my pension plan - I'd be interested in views on where I've got to and whether I have missed anything. I'm lucky in having 3 DB pension schemes. My original plan had been to take…
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State Pension & Occupation Pension
I am currently on the State Pension at £1,004.48. I had also been receiving a small Occupational Pension at £98 per 3 months until receiving a letter this morning, details below.. Receiving a letter this morning, my occupational Pension changes have been made as follows. Gross Annuity £98.31 Per 3 months. Less Taxt £43.60.…
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P55 and savings interest
Hi, I need a little advice regarding filling in P55 with regards to interest. Each year I take the maximum amount permissible below tax £12,570.00(+25% allowance) via UFPLS and this is my only income with the exception of savings interest. I normally earn less than £1k in savings interest although I believe I could earn…
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Teachers Pension Help
Hi, new starter in the TPS and very confused! I am 45 and would like to retire at 65. I would like to contribute additional payments to enable me to do this with a reasonable annual pension. Having looked at the TPS website I have read about ‘Buy Out’ and ‘Faster Accrual’ but am still none the wiser about my best way…
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Pensions Vs ISAs and fiscal drag
Pension £400, ISAs £400 Retire in 15 years. Full time employed. Will get 100% state pension at 67. Hi, my plan for next 15 years was to slowly use the ISA cash and contribute an equivalent into pension thus adding 25%ish tax relief into it However if the 40% tax rate keeps at same level, in 15years I'll be paying 40% tax…
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Pension funds
Is there a figure that you should go from workplace pension providers to independent financial advisors... I've got 350k in a closed Scottish widows pension.low costs....doing ok....probs 5%…taking the 5% every year so pot isn't shrinking…should I look at ifa,s and take more... really like to here views..
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oh no, its a ‘which SIPP provider’ thread
frustratingly I just found out Fidelity (who I’m with) don’t offer individual gilts. I was planning to set up a gilt ladder for a part of a bridge fund. I could probably work around it, but the point of the ladder was certainty, so relying on an MMF or short/intermediate bond funds isn’t exactly the same. so I guess the…
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National insurance query
If still working and have paid over 35 years national insurance contributions can you ask to stop paying. A friend of mine has received a letter from hmrc she is self employed and has been told she does not have to pay anymore. Does anyone know if that is the case?
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Aegon has paid out both 25% tax free and 75% taxable
I requested 25% tax free and the balance to go into a drawdown pension, but Aegon has paid out £7,000 and I've paid £2k in tax (with a note, "take it up with HMRC") Can this be reversed? I am still paying into a pension through my job.
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Invigilator and class 2 national insurance
I invigilate and I am short 3 years National Insurance contributions to get my full state pension so I thought I would register to pay voluntary class 2 national insurance contributions. General advice is that you have to register for self assessment. I did that but annoyingly I couldn’t get it to calculate correctly…
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Best remedy with early Classic, deferred Alpha
Can Alpha in remedy still be better when taking Classic around 57 (NPA 60) and Alpha (NPA 67) at 60? I get the feeling that the lower Classic figure will be generally evened out by Alpha when Alpha’s taken at 60. The higher Classic figure with Classic in remedy is tempting but the Alpha element starts off from a low base…
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Is retirement boring?
After counting years/ months down, I find myself thinking retirement will be boring - I get bored when it's a long weekend like this one (Scotland got an extra public holiday for the football). I've therefore decided to stay on for a year or so. After renovations to the house and travelling, what else do retirees do? I…
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Making most of personal allowance in year of retirement
Hi All My husband is planning to retire on 7 June 2027. The aim is for him to utilise his personal allowance of £12570 before he stops. He is particularly keen to do this as he is currently 52, and will be affected by change in national minimum pension age so will miss out on a few years of tax-free cash as can’t access…
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Sipp transfer Help
Hi, I decided to transfer my AJ Bell Sipp , cash and stocks, to interactive Investor as there recent new platform charges were attractive, especially fx charges on US shares. Application started in mid May, and progressed well with equities transferred by 02 June, and cash settled on 10th June. I now need to take benefits…
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11 years of pension freedoms
So assuming people turned 65 11 years ago and took their pots, they're now 76, so approaching their eighties. I'm wondering how people plan to manage their finances in their 80s? Assuming they have reasonable assets then purchasing an annuity could be an option. I'm just not sure that in my 80s I'd want the hassle of…
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When to switch a Gilt ladder from nominal to index-linked?
Hi everyone, I’m looking for some thoughts on when it makes sense to choose index-linked gilts over conventional nominal ones within a retirement ladder. I currently have a 9-year gilt ladder. I love the peace of mind and calm it brings me. Even if I’m foregoing higher equity returns in the long run, it mitigates sequence…
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Funds for a short term sipp
Going to open a sipp for o/h. Hoping to get around £30k invested over next 3 years & then draw down probably around 7k a year for 4 yrs, until state pension arrives. I know options for investment over this short of term are limited. But does anyone has any thoughts on what to do? I use Hsbc GS balanced in mine, which has…
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IFA to restricted adviser
Having spent many years as an employed Independent Financial Adviser (IFA), my employers have sold their business, and in three months' time I will become a Financial Adviser (FA). For a long time I have told clients, prospective clients, posters on these boards, and indeed anyone who will listen that if they are going to…
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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6.5K comments
Most recent: Delays for P55 tax refund fro… by dobbers
2 September at 2:34PM
