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Pension pot decision query
I just want to see if I understand this correctly and it is as simple as I figure. I'm removing any consideration of 'can I afford to support myself on retirement ...' etc to make it a simple example: I am 60 retired, no income except interest from savings. I have to decide on various options with pension pots. One has a…
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Pension award letter
Hi Thanks for everybody's help over the last few months with trying to help me understand my pensions. I have now received the award letter from the DWP and it is as follows: Basic State Pension - based on National insurance contributions £115.95 Additional State Pension - based on your earnings between 6 April 1978 and 5…
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Choosing a Personal Pension
I am 25 and one of two directors in a small business. I have made some small contributions to a teachers pension over the years, however I feel that it is time to start getting in place a pension that I can make more significant contributions too. I am also interested in this as my understanding is that the company can…
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Should I top up my NI contributions
My state pension start date is Dec 2023 and at present I have 31 qualifying years, my estimated pension is £147.11 a week (£115.95 pension + £31.16 additional state pension and graduated retirement benefit). I contracted out of SERPS in 1990 and do not think I ever contracted back in. I have not made any NI contributions…
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pensions: new rip-off from taxpayers
http://citywire.co.uk/new-model-adviser/news/steve-webb-how-to-boost-new-state-pension-payments/a827032?ref=new-model-adviser-features-list
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SERPS and New State Pension
'How to top up your New State Pension if you are retiring from April 2016. If you do not have the full record of 35 years of National Insurance contributions or credits, or have contracted out of Serps, you will not get the full New State Pension of at least £151.25. But there is a window of opportunity for people to pay…
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GMP - Can I opt out?
I'm afraid I haven't given my pension arrangements the attention they deserve in the past, but now I am approaching the age where I need to do so! Firstly - apologies if this question has been asked before - I did search, but couldn't find quite what I was looking for. My situation is that I have a Section 32 Buy-out…
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Annual Allowance - DB Pension Accrual
Hi there, I wonder if any knowledgeable souls might try to help me with the following please? I am currently maxing out my DC pension contributions in order to breach the new reduced LIfetime Allowance by 5/4/16, with the aim of applying for Fixed and (possibly) Individual Protection 2016. I am fortunate to have a military…
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Afps75
Hi I left the army after 15 years back in the late 80,s... im now 58 and have just been notified by the army that I will be paid my pension and lump sum early due to ill health and being unable to work permanently.. I applied for this 2 years ago and have been refused it and have been constantly appealing the army…
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Redundancy company avc or new sipp?
I intend placing some of my due redundancy payment into my pension. I have the option of making a payment into my co Avc before I leave and then draw this as a tax free lump sum at age 60 which is 9 years away. Happy to wait this long as have other investments. Alternative is a new sipp which I know I can draw down in…
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Converting a Defined Benefit scheme
I am 56 years old. I have got a £105K pot in a Defined Contribution pension, and a Defined Benefit pension, which, 2 years ago, on enquiry, had a transfer value of £130K. I stopped working (hence contributing) in the company providing the DB pension 13 years ago. I stopped working 3 years ago due to health issues hence…
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55 next April - can I access my pension?
Hi. I will be 55 next April and understand that I will be able to access my private pension? How do I go about it please, do I contact my provider or do they contact me to let me know my options and when should I do this? If I can access it is is paid on my 55th Birthday and is that into a nominated bank or will they send…
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Aviva stakeholder pension help
Hi I have an Aviva pension - it was called a stakeholder now something else but the charge is 0.8% and its invested in Aviva's UK and Global equity funds 60/40% What do people think of these funds and the charges- should I transfer it elsewhere? maybe a SIPP? Reading cavendish website I could do a transfer and re-position…
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Contracted out. Help please.
Could anyone offer some advice? My husband has a couple of CIS personal pension policies one of which was contracted out of SERPS from 1987 until 2002. The policy doesn't seem to be doing much in terms of performance. It has a transfer value of £50,000. We are unsure whether to just leave this alone or to transfer it into…
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Starting in civil service - which pension?
I've just graduated from university and started my first job in the civil service. I now have to decide what pension scheme to go with - nuvos (actually it might be alpha now, I got the nuvos leaflet together with a note that alpha was introduced at the beginning of the month) or partnership (Scottish Widows or Standard…
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Redundant at 48 - when can I take pension
think i posted this in wrong place to begin with. SWIM had worked in Council run leisure services from his early twenties until age 48. the year before the running of the council was taken over by a different council due to tendering out. All redundancy pay was paid as normal. now 53 he was checking his pension and it…
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Cash payout, 3 month delay, so far!
Hi, I have a small pension pot, not worth keeping as a pension, so being over 55 decided that taking it all as a lump sum would be the most practical option for me. It has now been three months since I contacted the pension provider to initiate the process and as yet they have still not paid out. I have a stack of letters…
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Pensioned off - Have an outstanding IVA
Hi, can anybody please offer any advice. My mum has been diagnosed with Lupus and has been off work sick with the illness for the past few months. She works within the NHS & has recently had as meeting with her boss & HR who have informed her she is being retired on medical grounds. She has an outstanding IVA that still…
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Pension overpayment refund request - anything I can do?
My father passed away in Janauary, today I received a letter saying his pension was overpaid by a week (about £148), the thing is the estate he left, what there was of it, is gone with most of it going on his funeral and other expenses. The DWP were notified of his passing the day after he died, and I was told at the time…
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Pension and benefits
A family friends situation The story goes... I've worked all my life away from home only coming back on weekends and i am now 62, my wife also has worked all hers but the past couple she had to stop due to illness, my wife was told she was not entitled to any benefit due to my incoming wage, it came to a point where she…