-
State Pension is NOT paid on your 65th Birthday-the truth
My 65th birthday falls on 21st November 2014 and yet I will receive no state pension for 21st, 22nd, 23rd and 24th November. My twin brother is in a worse position, he will receive no pension for the dates 21st to 26th November inclusive. This means that my first pension payment on 1st December will cover the previous week…
-
Contracted out of serps, broke neck 15 yrs ago
Hi everyone, I've never really thought about this I've never been much of a forward planner! Many yrs ago a 'friend' of mine went to work at friends provident. He told me it'd be a good idea for me to contract out of serps. I really had no idea what he was talking about, on his advice, put it all in 'high risk - pacific…
-
Is it worth joining a company pensions scheme for just a year?
I'm shortly going to be starting a years maternity leave cover on a contract which makes me eligible to join the company pension scheme. The company I'll be joining are very ethical and I believe their scheme will be a good one and not front loaded with fees as would be the case if I were to start a private pension. I…
-
Silly question about pension unlocking + pot options
Hi Guys I've been reading about the new pension rules and am slightly confused, I realise you can unlock 25% tax free as a lump sum however if you do not want to buy an annuity with the remaining what are the options? e.g. can you take a certain amount from the pot tax free per year? e.g. in 2 years time if the personal…
-
Getting pension after april 2015
Hi can anyone help me, next May I will be 55 can I take all of my pension pot (65k) I was wondering how much I will loose by taking this 10 years early, can anyone give me a rough idea of what I will loose by doing this? I know the rules are changing, and I am just considering my options. Many thanks. (on behalf of hubby)
-
Deferring State Pension
I am planning to defer my SP for a few years. I have questions regarding the way extra pension will be calculated. Is the 10.4% simple or compound? Is the second year of deferral calculated on the figures of year 1 without any uplift from annual rise, or using 2nd year entitlement? Will the rate payable drop from 10.4% to…
-
Define Permanent
Define Permanent, my wife was retired from work in 1993 on health grounds, and and is thill unable to work due to her health and both Doctors and specialists feel that she that this is never lightly to change. My wife gets a part pension£80 a month pension from her old employer, back in 1998 we asked if she should not be…
-
Lgps APC actuarial reduction
When ACPs in the LGPS are actuarially reduced for early retirement, which is the figure that is reduced? Is it the value accrued at the time of retirement or the forecast at the time of SPA? Sorry if this is a stupid question!
-
Take pension early to create annuity
With the recent pension changes, is there any value in taking my final salary pension early, continuing to work and putting the pension into a new SIPP to build up a lump sum? I could then use it to buy an annuity to spread the risk. I am not expecting the pension fund to fold but who knows. My circumstances: I am 57 and…
-
Pension contribution / Tax in final year B4 retirement
58 and getting comp redundancy at end of 2014. I'm in LGPS - have been foe 3/12 years - and pay into AVC (max I can pay is 50% of my salary). As I finish end of December is it worth opening a SIP and what is the maximum I can pay in? I was thinking that with the new pension changes all contributions might be getting 20% on…
-
What to do with a small pension pot?
Any thoughts would be most welcome. My wife has recently become a full- time mum. Her previous job had a private pension scheme with Scottish widows and there is a fairly modest sum of 17k. I have a public sector scheme which is significantly higher. We are wondering what to do with her scheme. She is not planning to…
-
Working early retiree
I am shortly to take up employment on a fixed-term contract of one year. I am already drawing a pension from a previous employer, having been given an early retirement package. My new employer operates a defined-benefit pension scheme (public sector). I don't see the point of accruing a year's service in this scheme if I…
-
Pension at 55 whilst still working.
I have a frozen final salary pension of 31 yrs, and a new money puirchase pension. I know colleagues who took retirement, and draw their final salary pension, and then come back as contractors. What are the drawbacks to this? can the company stop me from drawing a reduced pension. some colleagues had the pension with no…
-
Scottish Widows poor service
http://www.moneymarketing.co.uk/news-and-analysis/pensions/scottish-widows-under-fire-over-pension-transfer-backlog/2009671.article "Sources have told Money Marketing Widows is taking 23 working days on average to carry out an Omo pension transfer. The provider is also taking 25 minutes on average just to answer telephone…
-
Pension contribution help please!
Hi. I currently have a stakeholder pension which after a few years gap I am paying £100 per month in (before tax relief) but I am getting concerned about how much I will get when I retire. I will be 42 in November this year by the way. The total value at the moment is about £8000 and I can afford to increase my monthly…
-
Found in attic!!
No really ! - I have found an old pension document in the attic when emptying some boxes - it is mine and although I haven't seen or thought about it for over 10 years I was, in the back of my mind, aware it was around somewhere. In 1992 I set up a self employed pension with Barclays - I paid into it for a year before…
-
Excising pension
Hi can anybody advice me. I get payment from a pension that was my late husbands. He died young and I have been getting his pension monthly for the last ten years. It is a small amount monthly but I wanted to know if I can get it in a lump sum as I have children or what is the best advise to do.
-
Avc in equitable life
Hi I have just retired from the NHS At age 55 and will be receiving a pension. I also have £8300 in an AVC With equitable life and want to take all of this as a lump sum. Am I correct in assuming that from next April 2105 I will be able to take 25% as a lump sum and the remainder as taxed cash. I have to let equitable life…
-
Transfer money to children
Hi Apologies if this is in the wrong thread. Looking for some advice : I'm in my 70's - own house & have decent amount in savings Have pensions that are more than adequate for my needs. So I would like to help my children out. Whats the best way to transfer some of my money to my children? Can i change the ownership of the…
-
Pension Advice Please
My son is 18, just started an apprenticeship but the employer has no pension scheme for employees to join, he was told he can get a personal private pension if he wants one. I've advised him to get one as soon as possible, the earlier in life you start these things the better. So, where should I be looking to get him one?…