-
Newbie pensioner here
Hello. I have recently retired and currently receive a state pension and a small amount from a private pension. I will also be receiving (when they stop dragging their heels!) a LG employers pension (worked in a school for 29 years). I have been on the Government website to ask about tax payments I should have to make but…
-
LGPS Regulation 10
A ex retired colleague has suggested I might be legible for regulation 10 when I ask for my retirement figures in about 12 months time. A bit of background, about 5 years ago the department was restructured where some people ended up with lower salaries, my basic stayed the same. However standby was cut by £50 per week,…
-
Retiring after self employment
I have reached state pension age and I am still working as a self employed carer in England. I need to retire soon, work is getting harder to do as my mobility is getting worse and worse, i am hoping to retire November or December. When I retire i will need have my state pension and pension credits. I plan on moving to…
-
Mechanics of tax rebate for SIPP contributions
Dear all, I was wondering if anyone could explain the mechanics of how I get the tax relief cash on SIPP contributions. From being self-employed (where I could just use pension contributions as a taxable expense) to being employed, from what I gather, a provider (Hargreaves Landsdown in my case) will add a basic rate…
-
State pension award
There's often a lot of stick for DWP, but I'm impressed with their speed and efficiency of my state pension. I received the invitation to claim letter on the 8th August. Applied online same day. Today, 16th August, received the state pension amount letter. £34 payable on my 66th birthday, then exactly £952 every four weeks…
-
Delays to handover from Capita to Tata of Teachers Pensions
Retired member in Aug 2022, TP have until end of September to raise the affected members' RSS statements. However, a front of house call handler told me this week that there are delays to the handover from Capita to Tata. Does this mean there will be more delays to statements and payments? Does anyone know anything about…
-
Pension Guaranteed Annuity Rate
Hello, I have a couple of (old) UK based company pensions managed by Ageon and Rothsay. They quote projected annual annuity amounts in my annual statements which seem alright - even based on an "average" market performance, although one seems much higher than the other. One is £6300 p.a. with a current transfer value of…
-
Pension situation sense check
Hi all Would greatly appreciate a sense check on situation and plan for early retirement. Me - late 40s with: * DB pensions currently worth £6500 a year at retirement age, increases annually with inflation. * Current contributions to DB pension will add approx £1100 a year income to it, increasing with inflation. * Three…
-
Question on adding £2880 to a SIPP
Hi, In this tax year I have so far paid £1000 in to my SIPP, which at the time was covered by earned income to get the tax relief. As I now no longer have any relevant earned income, can I still add £2880 this tax year, or do I have to remove £1000 from this total, i.e. I can now only pay in a further £1880? Hope that…
-
Best use of wifes SIPP
Hi FolksI am retiring at my DB Scheme,s NRA of 63 in Feb.Will then have a combined DB income of £50k and a TFLS of over £200k.I have been taking an old DB for the last 18months and using it for AVC contributions, hence the large TFLS. If I die, my wife gets 2/3 of my present scheme and 1/2 of my old scheme.My wife is…
-
Pension position for overseas tax resident
I am a UK citizen, resident and tax-resident in Japan. I hold a pension with Vanguard UK from which the 25% tax free amount has already been withdrawn. What would be the tax position if I were to withdraw some or all of this pension fund, eg is it liable to income tax and/or capital gains tax, and in which country? NB: I…
-
Annual Allowance Calculation - Classic, Alpha and AVC
Trying to get my head round my Annual Allowance before
during and after Partial Retirement Here’s my thinking: Pre retirement year Classic: Classic Pension at end x19 minus Classic Pension at
beginning x 19 r evised upwards by CPI* Classic pension value devised by multiplying by 16 and
adding LS (effectively multiplying by…
-
NHS Pension - Taking Pensions Early
I am hoping you can help, and tell me if I am missing something. At 57 my partner has had her NHS pension updated, and with the McCloud options : Scenario 1 - McCloud 1995 Scheme - Pension at 60 yo £7000 2015 Scheme - Pension at 67 yo £2100 If they took the 1995 and 2015 (reduced by 31%) at 60, they would get a combined…
-
Take tax free 25% lump sum triggers MPAA
Hi, I am thinking of taking 25% tax free lump sum from my pension. Does this trigger MPAA where mine (or my employer's) contributions cannot exceed 60K/annum or be taxed?
-
Should I start planning to move money from my SIPP to ISAs?
Some basic facts and figures. Age – 59 Recently early retired DB Pensions (just started receiving) - £26,500 / yr fully indexed
linked SIPP - £500k approx. SSISA - £350K My number – I need about £35k / yr Cash – c.£70k for emergencies and such like. Mortgage free and no debt. SP – full amount expected. My objective is to…
-
Cashing in Pension Pot
Hi if your in your 70s and still have an invested private pension pot of £85K not used whats the best way of getting it out esp if your in poor health.
-
Third State Pension age review: independent report call for evidence - published today
The government announced the launch of the third review of State Pension age in July 2025. This review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. As set out in the Pensions Act 2014, this review will consider evidence from 2 reports:…
-
How much can I put into a SIPP whilst receiving a salary and two DB pensions?
I'm 60 and I started receiving two DB pensions (a Civil Service one and a Local Government one) both from previous employments. I'm working reduced hours in my current job (4 days a week) and that comes with a DB/DC pension (USS - Univ's Superannuation Scheme). I earn £35K a year from my current job but pay AVCs via salary…
-
Its like Groundhog Day....
Once again the press are saying Reeves will tax the 'tax free lump sum' Will they ever stop.... or Apologize for previous LIES???
-
LGPS Scotland - Ill Health Retirement
Hi all, newbie here, so go easy on me ! If I can, I'd just like to gauge the thoughts of anyone on here who has some knowledge of LGPS Scotland and their Ill Health Retirement process. My wife is 58 on her next birthday in February. She has been an employee of the Local Council working in the pre-school nursery environment…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
708 discussions
6.2K comments
Most recent: Retrospectively claiming NI credit for a carer? by molerat
20 September at 8:31PM
