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Pension at 30
Hi all, I'm coming up to age 31 in a couple of months and am thinking it's time I got my pension sorted out. I previously had a pension for a year or two in a part-time job in my early twenties but nothing since then. I'm not too hot with the whole issue of pensions and my question is this - I have a considerable amount of…
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Company paid my pension twice
Hi, 1st post on here so hope you guys can help! I recently left my job at a bank after just shy of 2 years, I was in the company pension and they matched my contribution monthly. When I left I had a letter saying I could cash the pension in but as i had left within 2 years ( the matter of days less) I would lose their…
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Transfer old pension into new or not?
Hi, basically I am working for a company that is being split off and floating separately and we are being tuped off. As a result the new company is setting up new pensions for us and old ones are being frozen. However the new pension terms and provider is exactly the same as the old one. Therefore will have two pensions…
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Free Standing Pension matures this month
I'm 59 this month, in full time employment (and good health) with around five or six occupational pensions lined up for when I do eventually retire - hopefully around the age of 65. I owe around £87k on my current mortgage and by the time I retire, it will still be around £66k, so I plan to use some of my pensions lump…
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Isa or Pension?
hey guys well i have recieved a letter from work about the auto enrollment to the pension scheme at work and i was just wondering it its better do to a pension or stick with putting all my spare money in to my isa? i have saved 20k now, i have spoken to people before about this and some people said go for the pension and…
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Nuvos or refund?
Hi everyone, any advice on this would be greatly appreciated. I'm a member of the civil service Nuvos pension scheme (defined contribution 2.3% annual salary). Before the 24 month mark I have the option of opting out and taking a refund. Am I being silly even considering this? I've paid in around £2.5k so far. I realise if…
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Co-Op pension problem
I rang the Co-Op pension service on the Monday before the budget,requesting the forms to claim my lump sum under the trivial rule,they said it would take 5-7 days,I still have not got it,I have phoned them several times,each time a different excuse,Is there anything i can do to make them post it????I need the forms and…
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Using a pension scheme as a shortish term saving account?
I’m a pensioner aged 52 (took very early retirement) paying tax at the basic rate. My net pension is currently more than £12k per year. I’m looking at ways of getting a better return on my savings which currently give an overall annual return of about 2.25% after tax. They’re invested in various savings accounts, including…
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NHS Pension
Just need some advice. My wife is a part-time nurse in the NHS. Many years ago she was in the NHS pension scheme (over 20 years ago) and didn't work for several years when we had small children. That money just stayed as a pot in itself that never got topped up. She has just signed up to a new plan within the NHS scheme,…
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Pension tax relief
My wife & I have recently opened SIPPs with lump sum payments, both with different providers. On checking our statements, I see that the tax relief has been added to my pension (Scottich Widows) but my wife's hasn't Hargreaves Lansdown). This was only done just prior to the end of the last tax year so am I just being too…
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LGPS 2008 AVCs - still worth it?
I'm trying to work out the best options for my OH's LGPS AVCs. We set up a standard Pru AVC policy in time to beat the rule change. We can therefore take 100% tax free cash by linking to the main scheme benefits. This seemed like a good idea at the time. A few days later, of course, George dropped his budget bombshell and…
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Pension Credit and Private Pension
I receive pension credit and have recently had a 'phone interview' to check for any changes in my circumstances. During this conversation I was told that as I have previously paid into a private pension scheme I must now start taking payment from my private pension. My plan was to start taking the payments in 9 years time.…
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Basic query
I had always assumed that I would get my basic state pension irrespective of other pensions. A colleague has told me that her father gets his state pension reduced by the amount of his private pension, or, say a private pension of £200 a month means his state pension is reduced by £200. Surely this isn't right? She's…
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Who to contact regarding a PSA pension
Hopefully somebody can point me in the right direction. A friend of mine who is not familiar with computers or the internet has asked me for help. He worked for the Property Services Agency from 1972 to around 1983/4 and needs to contact whoever is responsible for their pension provision. Does anybody on here have any…
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Spanner in the Pot
I am 55 next month. I have a pension pot invested in bonds and equities with a current value of around £280,000. I also have a final salary pension that I can access when I am 62 that will pay me an income of approximately £13,000 per annum. I was made redundant last year following 25 years with my employer and have been…
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pension tax,
I am getting a lump sum from a pension, as it was only going to be about £100 a year. The amount is £2106, does anyone know how much tax ii will pay on this ? Thanks
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Retirement annuity contract in bankruptcy
I had one of these pensions when bankrupt in 1997 with retirement date this year aged 60 years. As it was before 2000 it was part of the bankruptcy estate. In April 2006 the rules changed and certain personal pensions could be accessed at the age of 60 years. Does any expert know what the rules specifically said about RAC…
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Pensions with previous employers - what is best?
I have a pension with my current and each of my former employers (4 currently) and want to know if it is better to keep them separate or bring them all together. Can anyone help please?
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State pension forecast query
I am 65 (66 in June 2014) but have deferred claiming my state pension to date. I have a full NI contribution record as well as contributions under SERPS (until contracting out in 1987) and 42.5 Graduated Pension units. I got a State Pension forecast in May 2011 as follows:- Basic State Pension £102.15 Additional Pension…
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Pension auto-enrollment
Hi all, Situation is as follows. We all had our meeting explaining what auto-enrollment is etc. We were then told that we would be provided with all of the details about how to un-enroll via e-mail within the next few days. This never came. I chased for the information but nothing was forthcoming. April's paycheck rolls…