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Choosing an IFA
Following on my from my previous threads I am considering investing myself based on information received frompeople on here, but I am also considering IFA. Looking around I am finding that the initial charge of 2% seems normal with on-going advice around 0.75~0.8%. I have paid 1% previously but had that reduced to 0.5% as…
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Retired in NHS pension and needing 1mire year for full state pension
Hi everyone, I know, to count as a full year towards the state pension I'd need to earn something like £3500. While I am very happily retired and have no intention to work again, I have a tiny little job, earning me maybe £300 a year. So, my question is, whether my £12k NHS pension could count as an contributing income…
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Combining multiple pensions?
I have job hopped throughout my career and accumulated approximately seven different private company pension pots. I hit 62 years in June and am now working part time and looking to, potentally, start drawing down my pensions. Is it worth combining these pots and buying a single Annuity (don't really need a tax free lump…
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What order are incomes used for tax code allocation?
I'm thinking of taking a DB pension but also working part time, which still would be eligible for DB pension contributions. The contributions are by salary sacrifice. My thinking is that to maximise the salsac contributions I can make, I'd want my pension income to be taxed first, so it has the "normal" tax code, so I get…
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Withdrawal from SIPP or ISA?
I have a small SIPP of around £18,000 which I have already taken cash from. I also have a fixed rate cash ISA that is about to mature. I am wanting to free up some money and am trying to decide where to take it from. I am retired and receiving my state pension. Any advice gratefully received.
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Pension payments
In a world where we pay by monthly standing order or direct debit the traditional 4 weekly pension payment is difficult to budget with. As all payments are now made by computers surely it would be possible to pay 12 equal payments on a set date each month helping to make budgeting easier and helping those without the means…
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Gmp equalisation top up payment
I’ve received a letter telling me I’m to receive an additional payment from my previous pension scheme ( I’m retired now) as a one off lump sum. How do I know they have calculated this correctly as they say there are no “come backs” after accepting the sum
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Advice needed
I’m 55 in less than 2 years. I had a small fright, a health scare two years ago which changed my outlook on retiral. A scare was all it was, I had tests after which, fortunately, showed me to be in good health. Since then, I’m possibly fitter than any time in the 20 years before. I drink a lot less, maybe once every two…
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Additional pension contributions and Tax bands
Hi I have a bonus payment this year due to working twice the hours I did last year, which puts my gross salary at £190k. I am thinking of putting £90k into a SIPP. I would like to know if this would reduce my taxable earnings to £100k, so that I can avoid the Additional rate tax band, as well as reclaim my tax-free…
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Adding one off sum to SIPP same tax year as taking TFC ???
Hi I am a 40% tax payer and I am retiring in December. I will have earned about £50k in income in the 8 months of the tax year prior to retiring. I will have made about £10k of pension contributions in that time and so have plenty of remaining allowance and have sufficient earnings. I have no plans of returning to work and…
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Should I save or put money into my workplace pension?
Ok im 50 (will be 51 in Nov) so I figure I have 18 years before I can retire pretty much. I have bills covered and I am in full time employment with a company pension plan but that is recent, last 2 years. Before that I was caring for my father before he passed so my savings and pension were nil. I work full time and I…
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Paying tax on SIPP
I have a 1257L tax code and no income other than my SIPP. so far this tax year I have withdrawn £1000, which was not taxed, and £4000 the following month that was taxed. Please can someone clarify how this works? I have only used £5000 of a £12570 tax free allowance for the year
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Large pension contribution immediately before retirement. Tax relief implications?
Is it possible to make a £60k pension contribution in April, start drawing down pension in May with a plan to take £60k plus during the year and get full tax relief on the pension contribution?
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State pension forecast
Interestingly my state pension forecast statement doesn't seem to equate? Does anybody know why this is the case? I was expecting 230.25*52=£11,973
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New State Pension
I retire this year and have received the letter from DWP saying how much I'll get. It's about £20 a week more than the 2025-26 figure of £230.25. Does anyone have an obvious answer why? I haven't deferred and I understand than any extra from SERPS is lost because the new pension is much higher than the old. Thanks and…
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SIPP investment in Property
Hi, I have come across a SIPP investment opportunity that almost sounds to good to be true. This is the reason I am very reluctant to invest any of my underperforming pensions. The company is called Dolphin Capital and the investment returns 12% per annum. The investment will be in Germany in listed buldings. The company…
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What happens if I overpay into my pensions?
I may end up overpaying into my pensions for the 25/26 tax year. Finishing work on July 31st and won’t work again this tax year. Paid about £1,500 more than my taxable earnings into my personal pension so far this year. And I don’t earn anywhere near the £60k required to access previous years’ carry forward. Do I have to…
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advice on regular payments into a SIPP please
hi following excellent advice on here regarding an old DB pension, im now ready to leave that alone and start regular investments into an existing SIPP for the next 5 years when i retire (im 60 now, planning to retire at 65). i have a Hargreaves Lansdown SIPP, its around 7 years old and has grown from £80,000 initially to…
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Maximum tax free lump sum with Certificate for Fixed Protection
I have a Certificate for Fixed Protection issued in 2012 entitling me to a lifetime allowance of £1.8m. I'm not sure whether that affects my Lump Sum Allowance? Any advice would be really appreciated. My details are as follows: * I have unit linked personal pension plans with a combined transfer value of £1,195,000. No…
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Pension transfer refused due to incentive
I have a small defined contribution pension from a prior job. It's sitting with a pension provider that offers a limited set of high fee funds. Hargreaves Lansdown are currently offering attractive cashback rates for transfers so I thought I'd consolidate this old pension into an existing HL SIPP. - less bureaucracy…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
699 discussions
6.1K comments
Most recent: NI Top Up Contributions: Computer Says "NO" (not needed), but mysterious reason why! by 1957DfurdPensionist
7 August at 9:46AM
