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HMRC is TAXING certain Pension CONTRIBUTIONS
TL/DR: HMRC is withholding 10% of Pension Contributions made by Higher-Rate taxpayers using after-tax income to contribute to a registered pension plan (incl. workplace pensions). Not withstanding the tax-free lump sum rules, it's my understanding is that for Registered Pension Plans, HMRC taxes withdrawals and on that…
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Salary Sacrifice vs Personal Pension
I am planning to retire in 6-7 years and I’m currently enrolled in a salary sacrifice DC scheme (employer paying 10% and myself 8%). With the restrictions due to be implemented in April 2029, is it worth making hay whilst the sunshines now and increase my contribution. Or would I be better off starting a personal pension…
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Self Employment and NI/State Pensions
My wife and I have been in a business Partnership for many years but whilst for the last 5(plus many more) my NI contributions are showing as 'Full Year' my wifes are not.....I should mention that I started recieving my State Pension in July 2025 and my wife is due hers from May 2026..is ther any reason why there should be…
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pensionnd
i have a pension pot worth £232000 after i took the 25% tax free limp sum i am closing a business which will have a small amount of money left in it after tax for 2026-2027 i have had advise that an annuity offers low yield per year (max 15000/yr) but if i was to die the unused pot stays with the provider and would not be…
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General pension advice
I am hoping to retire on my 65th birthday about 6 months away, so time to get a bit more serious about my pension. I have a very general idea about how to use my DC pension, but the more i look into it the more confusing it gets. Why does it have to be so complex I have narrowed my options down to either a fixed term…
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Max withdrawal amount to stay out of higher rate tax
Assuming you haven't taken any of your tax free lump sum and you have a £2m SIPP and have now hit retirement age. Due to size of pot and assuming a strong desire not to die with a big pot.....what is the most you could withdraw annually WITHOUGHT going into higher rate tax, this number would be mix of the 25% TFLS and…
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Is there a relationship between "Full pension" (as % of LTA) and Transfer Value of a DB Pension?
I have a DB pension due to me that has IFA approval to transfer to my existing SIPP. The transfer value quote from the Pension company is approx £83,000. In the paperwork from the Pension company a figure of £175,000 is given for the "value of your full pension", being 16.4% of the standard lifetime allowance for the…
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What happened to this Aviva Pension Fund..?
Hi, just checking if anyone has info on why this fund is no longer recognised by MorningStar, TrustNet etc. when I search for it using its ISIN or fund name: Aviva Pension Schroder Managed EP S3 - ISIN GB00B0Z0LP65 Might save me hanging on-hold for days with Aviva's helpdesk... :)
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Help me pick a pension fund, please
Hi all, I’m working for a new company and I’m wanting to see what pension fund you think would be best for me (I’m not overly clued up on this sort of thing). I’m 40 years old, would hope to retire at 62 latest and obviously want to grow my pension pot as much as possible by then. Could you give me your thoughts on what…
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Annuities
Would I be correct in thinking that if someone aged say 70 applied for an annuity with a guaranteed period of say 20 years, that would remove any benefit of asking for a health based enhanced one? Many thanks
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Small pensions - any advice
I will admit I don't know much about pensions, and up until now haven't needed to worry about them. Having left my main employment in 2021, I have had two employer pensions since. One with my current employer and one with a company I worked for 18 months. I am currently 52, and in receipt of a non-contributory pension…
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Advice regarding my wife pension and drawdown strategy
Morning all , hope everyone is in good health and not impact too much with this snow. My wife is hoping to retire at the end of March, she is self employed and the work can be quite tiring, she will be age 58.5. I know share prices are high at the moment. Her current retirement portfolio is £142k cash (I realise this is…
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Adding to stakeholder pension once retired
My wife is considering adding to her (untouched) stakeholder pension, even though she's now retired. The money to add would come from her savings. She currently has income from a small DB pension and some income from savings (none of this is above the income tax or savings tax thresholds). Obviously there would be no…
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Timescale to move from SIPP to drawdown AC with Hargreaves Lansdown?
Has anyone submitted an application to HL recently to move money from their SIPP account to their drawdown account? I am trying to get an estimate of the timescale it is taking. I made an application on 6th Nov, got a confirmation email saying 20 working days. That has now passed and I have messaged and called them for an…
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Asset allocation 10 years from retirement.
Hi all, l consolidated my pensions into a SIPP on Vanguard, where l am currently 70% Global Equities and 30% Global Bonds. I pay £300 pcm into the SIPP from my post-tax salary. The SIPP current value is £275k. I also have a pension with my job which is salary sacrifice and l invest £1500 pcm solely into Global Equities. My…
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Rebalancing My SIPP Portfolio
In the process of drawing-down a lump of tax free cash to spend on a number of specifics in February 2026. Although my SIPP is already balanced 60/40 in favour of equities, I have large sums (eg £300,000) in particular Vanguard funds.Although the specific funds are hugely diversified, my whole portfolio is with one…
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DB pensions (in particular Teachers' Pension) and Annual Allowance
My wife is a teacher and enrolled in the Teachers' Pension Scheme. She doesn't make any AVCs or anything but she does have a SIPP and is considering adding a reasonably large additional amount to it this year. I mentioned to her that there is an Annual Allowance for how much you can add to pensions (without incurring a tax…
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IHT - Potentially Exempt Transfers
My understanding of the “7-year rule" is that all gifts made by the deceased in the 7 years prior to death must be declared to HMRC The total of all gifts (excluding specific exemptions) are then subject to IHT albeit taper relief may apply. It has been suggested to me - albeit I cannot find this stated anywhere - that the…
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I am finally there. My Plan.... Please comment
Hi Everyone Sorry for
the long post…. After years
of trawling this forum (Many thanks to everyone who has helped along the way) I am
finally at the point where I will properly start my retirement. I retired
18 months ago (was made voluntarily redundant) and have lived happily on my
redundancy and small DB since. I am 65…
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Best method for validating strategy?
As I’m entering retirement I’ve realised I’m generally a low risk capital preservation investor rather than a growth investor. I’ve found the typical annual cost of 0.75% of total fund value that IFA’s charge for changing or setting up investments, wipe out any small gains. This means the picking of funds, percentage…
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