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Nest Pensions - Transfer out not possible
So I have a Nest pension from a job a couple of years back. I see that the contributions fee is a bit expensive compared to another option I'd like to go with, so I'm never go to contribute again. I think I'd rather just transfer it to another scheme. Here's the kicker - you can't.. Didn't read that before I signed up for…
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deferred pension
Hi I reach retirement age ( 65) March this year. At the moment I receive working tax credit. If I defer my state pension will I still be able to claim working tax credit ? Thanks
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cashing in pension to pay off mortgage?
ok so ive been looking at my my pension statement and is says "value of your personal account is..." does this mean that amount is the actual value? if so i would like to cash it in and pay off the rest of my mortgage with it. how do i go about doing this i have no idea. Please help
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It is Single Tier, not "flat rate"
Ok, Lots of ranting today about not understanding the new State Pension. The press and government have not exactly covered themselves in glory over this. The new system is a "Single Tier" it is not "flat rate". So why are people on this formum who should and do know better still refer to it incorrectly as "flat rate".
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Changes to pensions
I im sitting here wondering . What is exactly the change to the pensions April 2015 As I thought you could already take out 25% of your pensions.
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Will my wife's pension rise ?
My wife and I will both be reaching retirement age before the new rules come into force.However we seem to remember that the wife's pension would increase once the husband has reached retirement age as long as the husband was fully paid up with NI? Does this still apply?My wife was paying the married woman's contribution…
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How much money have I lost on my pension?
Hello, I recently requested a transfer into my work's occupational pension scheme. For various reasons, due to my incompetence, and I have beaten myself up about this already, I didn't complete the transfer in the three month period. My initial quote (and these are rough figures for illustration purposes) was something…
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Pensions & Savings Advice Needed
Hi folks! About me: I'm newly debt free. I am now in a position to save and prepare for my future and I'd like to make sure I set myself on the right track. I have 35 years to save. I expect my employment earnings to be in the low to mid £20k's for the foreseeable future. Savings & Pensions: I started a Scottish Widows…
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can I take 25% under old and new rules
last year I took 25% of my pension pot tax free, with the changes this April can I take another 25% tax free or am I stuck under the old rules as I have already taken a drawdown.?
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Was I contracted out?
Just a quick question. I need to find out if I have ever been contracted out. I have a statement from DWP dated Feb2014 which indicates an additional state pension of £32.91, payable on retirement, but also says that this could be lower if I was contracted out. I don't recall contracting out and I don't have any funds…
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Rubbish BBC article - "Pensioners could run out of cash"
Here it is. http://www.bbc.co.uk/news/business-30750179 Age UK are mostly to blame but the BBC have printed this low grade data without any worthwhile comment. "The charity based its calculations on a 65 year-old who has built up a pension pot of £29,000." Hmmm, so a very small pension pot. What's the average, closer to…
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Tax on Flexible Drawdown with no other income
i've had some great advice from here in the past so I' hoping you can help again. I plan to take my 25% TFLS in 2016 age 60. If I have no other income until 65 but decide to draw yearly upto my tax free allowance from the remaining pot, will those amounts also be tax free as the allowance suggests? Thanks.
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Retired, pension too small, top up from equity in house?
Hi there, my parents have both retired over the last year but have discovered that their income from their pensions isn't enough for them to get by on. They own their house outright and I was wondering if they could somehow draw an income from the equity in their property? Or what might be the best option for them in this…
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Pension for overseas UK citizen
I'm 36 and a UK Citizen who worked in the UK for 11 years before moving overseas to Vietnam three years ago. I've always had company pensions since graduating at 22 years old in the past (4 different companies) but now do not have a pension and my company does not offer one. I don't see myself returning to the UK any time…
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Bills VS car with 457
Here is my story I got in way over my head after my last child my wife came off payroll way earlier than expected and I lived on CC until I could arrange a second job. I racked up about 35000 in debt in a real short time losing a second income really hurts. So here is my question MY wife has finally left her job to be a…
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Should I transfer my LGPS funds to the NHS scheme.
Hi, I am age 49 and left my local government job and pension scheme to which I had been contributing to for over 20 Years (final salary scheme) and moved to NHS employment last month for a lower paid job. (but more fulfilment and hopefully less stress!) My LGPS pot is now sitting, obviously with nothing being added and I…
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Local government pension scheme
Hi there could somebody help me with something,my dad has a pension at work and i handed his expression of wish form and covering letter to the appropiate person a couple of weeks ago and was just told to wait to hear in a letter how long does a death lump sum take to pay out?? Ive no idea on things like this Thanks
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Rpi
The threat to abolish RPI or tinker with how it is measured amounts to more government interference in pension. It seems that government would reduce various liabilities by down stating inflation. http://www.theguardian.com/business/2015/jan/08/scrap-flawed-rpi-says-ifs-boss A move to CPI would cause a huge headache for…
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enhanced annuity
Can anyone advise a good company to select an enhanced annuity based on poor health/life style. I have previously used annuity direct, but they are now part of fidelity so I have no confidence in their advice.
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NHS to USS penion?
Hi all I have a NHS pension (pre 1995) and USS have offered me Just under 13 years as a transfer based on a leaving salary of 24k. I have 10 yrs to go until I am due to retire when I'm 66 and am now earning more than double the 24k Does anyone have experience or knowledge to say if this is a good idea or not?