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LGPS pension - what do do with it?!
Hi, I'm hoping someone can give me some advice as I'm quite lost! I joined a LGPS when I joined local government in June 2008. I moved Local Authorities a couple of times but always joined the pension scheme and transferred previous pensions to the new LGPS at the new authority. I left Local Government employment in…
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Money Purchase Benefits Transer - Help!
My company pension has been transferred to the Pension Protection Fund (PPF) However my pension includes a pot of £11k Money Purchase Benefit which has to be dealt with separately. The Trustees are advising transferring this amount to a Trustee Transfer Plan provided by Blackrock Life Ltd. The other option to this is to…
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What to do?
What with the pension changes happening, my OH is wondering whether to take the voluntary redundancy package his company is offering. Two years pay and then he retires early - only four more years to go until he reaches retirement anyway. I am useless with reading his 'Information Profiles' on the redundancy and the new…
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Combining pots
Hi, I have recently joined a new employer, have enrolled into their pension scheme and now have three pots with three different providers. They're all defined contribution, Standard Life (~£24k, 2006-2013), Scottish Widows (~£6k, 2013-2014) and the new one is with Aviva. I'm 30 so still a long way off retirement. I've been…
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Pension Options
Hi, I had a DB pension with a previous employer for ten years (now frozen), then moved to another employer where I had a DC Pension for 2 years (now frozen) and have now re-joined my old employer and enrolled in their DC pension scheme (2 yrs ago). I requested a statement and transfer value for the original DB pension…
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Pension lump sum advice needed
I have a pension with the LGPS (service commenced in 1982), some savings, ISA's etc. but I may need to take early retirement at the end of next April. My question is 'Is possible for me to build up a small additional lump sum within the next few months to help me delay taking my pension?'. After reading numerous posts on…
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Annuity - can I reverse my decision ?
I took my Personal Pension on June 2nd 2014 and decided to take 25% lump sum and an annuity from Standard Life. At the time I thought that was the right decision for me but since have realised Id rather have waited until April 2015 and been able to either withdraw all of my pension or maybe take drawdowns. My pension pot…
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Contracting out calculation
Hi all If anyone was contracted out (as many people have been in company/government pension schemes) how does that work in regard to calculating State Pension? I rang DWP to ask for a pension forecast, which I know will be based on the rules as they stand now. I realise next year it all changes, but is there a calculation…
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Annuity Surrender Value?
I have held a Annuity Growth Account since 2007, value £25,509 which pays an income of approx. £1200 annually. My 3 year review ends in Feb 2015 and I would like to cash it in under the new rules April 2015, as it would help to pay off all my debts etc. I have been informed by Canada Life that there is no surrender value…
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Transfer of ACV's
I currently have £600 of AVC's with Scottish Widows, that I paid into from 1996 - 1998. I am not allowed to transfer it into my local government scheme as its passed the year transfer date. Any tips on where to transfer this sum, as I am currently being charged £1.50 a month for SW holding it. I all ready pay into the LG…
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Nhs pension , defer or not?
I am currently in Nhs pension scheme I have 7 years to go until I am 60. I have been looking for a while for alternative jobs outside of the Nhs but to date have always been put off because I did not want to lose the pension scheme. However it now looks like that our pensionable salary will not increase for at least the…
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Moving my SIPP to my NISA is this a bad idea?
Hi all. Have read this stuff until my head spins so grateful for anyone who could explain if my thinking is wrong-headed... I am living off final salary pension, not yet receiving SP and pay basic rate tax. I also have £100k + in flexible drawdown SIPP with HL. My intention is to withdraw £18,750 per annum from SIPP, pay…
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a compromise crystallisation for a pension fund?
Would this thing be any good for someone who wants to avoid the constrictions of a conventional annuity, but also doesn't want to manage his own pension fund in drawdown? http://citywire.co.uk/money/guaranteed-income-and-money-back-the-annuity-offering-it-all/a776459?ref=citywire-money-latest-news-list
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Opposite of an LGPS question...
Hi, a quick question about defined benefit versus defined contribution. I recently joined a government organisation which offers a defined benefit final salary pension. Prior to this I had built up £12K in the University Superannuation Scheme, and £17K and £67K in two separate defined contribution schemes. I have left the…
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New intestacy rules and inherited pension pots
https://www.gov.uk/inherits-someone-dies-without-will/y/england-and-wales/yes/yes/yes "The husband, wife or civil partner keeps all the assets (including property), up to £250,000, and all the personal possessions, whatever their value. The remainder of the estate will be shared as follows: the husband, wife or civil…
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General question re LGPS and early v normal retiral.
Male, 55 years old - middle management throughout - been in since 1989. Not desperately keen to work till I drop - my job is stressful and I work long hours (8 - 10 hours more than I should each week all unpaid). So the energy is very gradually waning - or is it the enthusiasm - I suppose that is for a different thread.…
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Pension Rate - Civil Service
Hi All, I interested in knowing what type of contributions the employer would make if i were to have a civil service pension? Currently i work in the private sector and make a tiny contribution (2%) myself therefore my employer also puts in 2%. I wanted to know the % rates offered as part of the civil service scheme. I've…
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Merge all Public Sector pensions into one major investment fund?
A very intereting proposal being floated by Boris Johnson in the newspapers today, suggesting that the 39,000 (:eek:) seperate UK public sectore pension funds should be merged into one super investment fund, able to invest in large capital projects along the lines of the Canadian and Chinese sovereign wealth funds. Would…
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Possible to avoid Walls Street & The City ?
I have just read "Inside Job" by Charles Ferguson and "Treasure Islands" by Nicholas Shaxton. It is apparent that ethics, morality and treating the customer fairly went out of the window a long time ago. The dice is loaded against anyone but the investing elite. Well, for Wall Street and City of London based investing…
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Pension confusion
Hi, A few years back I got a pension with work through Norwich union (Aviva) which my company also contributed to. A couple of years ago I was in another job and eventually a few months ago I was auto-enrolled into a pension with Scottish Widows, which I elected to opt-out of as I knew I would be leaving the company soon.…