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Retirement
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What to do with an old stakeholder pension
I'm seriously useless with money, and I've been badgered into doing something about it. I have a stakeholder pension from a job years ago that has about £10k in it, sitting there doing nothing, and I'm utterly baffled about what I'm allowed to do with it now I'm self-employed. I've not touched this pension in something…
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Illustrative income from Pension funds ignores inflation?
Generally speaking - do the "projected" examples of income after retirement remain non adjusted for inflation?
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DB AVC as a saving
I am drawing 2 previous pensions having taken max lump sums from both and now have about £800 per month after 40% tax. I still work and pay into a DB pension and would like to open a company AVC as a means of saving towards paying off my mortgage. my questions are 1. can I draw 100% of my AVC savings including tax relief…
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Pension Confusion - FAS
My mother was a member of a defined benefits scheme that was put into the FAS (company went into receivership and hadn't been paying into the pension scheme). She currently gets £25 per month from the FAS and reckoned that she paid in about £36,000 so well short of what she might expect from annuity. She retired 15 years…
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Smart Pension
My company is introducing a smart pension scheme. Were as it will reduce your salary by your pension contribution stating that net pay should be increased. Has any one else any experience of this. And do you think it is a good idea. Thanks Youngy31
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over 55 tax free lump sum
Hello, New to the forum so bear with me, I have a deferred pension from NILGOSC and reach 55 in July so I want to find out how to avail of the 25% tax free lump sum. Can I arrange this myself without going through an agent? Any help appreciated
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Advice Please is it worth it
I am thinking of starting a SIPP through Fidelity just to top up my pension from work. However I would only be paying in for about 7 years. Will it be worth it? I am not able to pay in a great deal around £150 a month (as I already pay 13% of pay into my pension) Any advice gratefully accepted.
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Additional State pension
Been looking on government web site to find more details of additional state pension. I do understand the principle but how do i check what i have recieved is accurate. The are so may different small parts to it some going back to the sixties. Any advice or links appreciated. Did think of asking dwp for a full breakdown,…
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Trivial pension encashment
Ideas as what to do with a trivial pension would be welcomed. A friend has a very small defined contribution pension with a 'leading' provider through her workplace (now redundant) that is now no longer contributed to. It's value is just a few hundred pounds and is not improving! She will rely on a full State pension when…
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Pensions/Tax free/cash,, next year
"If it really is a "pot" rather than (say) a final salary pension, then if his current provider won't let him take it he could transfer to a provider who will. However only 25% is tax-free = £16.25k: the rest, £48.75k, is exposed to income tax - some of it no doubt higher rate income tax. So he'd probably be a mug to take…
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Re think on deffering state pension
I am undecided on deferring my state pension due to commence in November 2014 I had decided to defer at one stage as drawing my state pension would have brought me into paying tax, and deferring for a few years would normally be of great benefit !! I am now considering drawing my state pension knowing I will be paying tax.…
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avoiding income tax on pension deferral lump sums
Now chaps, will this wheeze work? Matilda is thinking of stopping her deferral of her State Retirement Pension and is due a lump sum of £40k. Naturally she would rather not pay £8k income tax on it. Her taxable income for this tax year (including her newly started SRP) will be £20k. What to do? On her taxable income she is…
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deferred/tax/ISA???
I deferred my SP on 6/1/14 as I am still working and a basic rate tax payer. I know that the interest I will get on my deferred pension at the end of the year is taxable. I understand that I will get a letter asking if I want to defer for another year or not. Is it financially better for me to take the deferred amount in a…
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Retirement Plan
Hi I will be 50 next year and was wondering about the best way to plan for retirement and would like some advice. I have a couple of old pensions that I have not put into for a few years. (not worth much) I did enter my company pension this year as we were entered in to it. I have 4 rental properties that I expect to be my…
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decision time on pension
Both my wife and I are about to make a decision on our pensions. We both have smallish pots she £88K me £150K. We have read all we can and have both decided to go with a level annuity with 50% spouse payment and a 5 year guarantee period, with no tax fee amount as free cash is not currently an issue. We have an offer from…
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Company Pension Contributions 'Holiday'
Our company offers a workplace stakeholder pension scheme to which it contributes between 6 & 10% of salary (depending on service). The scheme operates on a 'salary sacrifice' basis. They have just announced that they intend to stop paying company contributions for a period of four months, as a cost-saving measure. Can…
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Need to transfer DC Pension Scheme quickly
Hi All, I'm hoping someone can give me a little advice. I left my last job in July and have just received a letter to advise me that if I want to transfer my DC Workplace Pension Scheme to another provider, I need to notify them of my new provider by 18th October, otherwise my only option is to have my contributions…
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pensions
hi all can i claim my half my husbands pension ,we was married for 37 years ,,and the seperatered ,we are still married but not living together ,we have been serated for 5 years
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Choosing which employer pension scheme to contribute to
I recently changed jobs and the pension benefit is significantly reduced at the new place compared to what I had previously. My new employer will match a 1% contribution paid by salary sacrifice (increasing by 1% each year, but only to a max of 3%). I can sacrifice more than this, but it won't be matched, and they don't…