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37 years old - My current situation and savings/retirement plan
Hi, I wanted to make this post about the journey I've been on in the last 15 years and how throughout the journey there are many times where I've felt off-track and wondered when will be the day I can see that my saving/retirement planning is beginning to work for me. It is a long thread and is meant to help others who may…
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Private Medical Cover
I had AXA private medical cover through work, apparently I can continue that cover without having to declare any pre existing medical conditions. Anyone done that and have any views on whether it provides a useful discount over separate cover? I only used it twice when working but my creaking bones may need a little help…
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Deprivation of Assets before going into a care home
My uncle has a 6 figure savings amount but his total assets are below inheritance tax levels. He recently went into a care home though hated it & has returned to his flat - a costly exercise bringing home the reality of saving for old age & passing some of that on. I'm realistic that he may have no alternative at some…
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Fidelity SIPP 'Service Fee'
Hello, could someone clarify whether the Fidelity SIPP service charge applies if I only hold an ETF within the SIPP? For example, if I had £100,000 invested in VWRP (ETF), I understood that I would pay just £7.50 per month (capped at £90 per year). Would this be the only fee, or would I also need to pay their “Service…
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tax allowance cut
Asking for a friend - no really. He has one pension which brings in over the personal tax allowance but not over base 20% rate. one very small one as well. combine would be well below the 40% threshold he has received notice that his allowance has been reduced from £12570 to £9991 "Allowances allocated to other earnings…
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SW Annuity Payslip
I took out a Scottish Widows annuity some months back. Although I got a P60 (printed) at the end of the tax year, I'm not receiving monthly payslips. Is this right?
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Accumulation vs distribution
I think I understand the core concepts here that accumulation reinvests dividend to focus on growth and distribution pays dividends to focus on income. But can someone explain how this works out as an example giving say Vanguard life strategy 100 with £500,000 in a SIPP within interactive investor over a 5 to 10 year…
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Ready to press the DB pension button... but what about the AVCs?
I'm acutely aware of the time people take to help others on here, and am grateful for every single bit of advice I've had. Thank you. However, I have one more question, please: I'm ready to press the button to trigger my BT (where I no longer work) pension to begin paying in December. I'm going to take what appears to be…
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Self-employed NI contributions and state pension
Hi, I'm hoping that someone can
provide clarity on the following please. I worked full-time up until December 2021 and
paid NI through PAYE. My pension forecast on HMRC indicates that I can
claim my pension in July 2026, and it will be the full amount of £230.25 per
week. It states that I cannot improve my forecast any…
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Pru to ii
So I’m 54 and will be accessing pensions in a couple of years. I have 3 small pensions, and am considering moving one with prudential to ii. The value is just short of £20k. My reasoning is that prudential don’t seem to offer drawdown. I should save on fees as I’m paying roughly £8.50 a month to pru and ii is £5.99 a…
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Pension - Tax Free Lump Sum or Not?
I will be 70 soon and have to decide about a company pension (final salary) that has been left untouched from a previous company I worked for. At present I get the state pension and two other very small company pensions. I am still working part time but likely to retire within the next year or so. These pensions were…
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Impact of Married Women's NI stamp versus HRP
I would like your comments on my circumstances which I describe below – I
cannot believe that I am the only retired married woman to be in this situation: * I was born in May 1949 and started working in 1966 * I paid the reduced married women’s NI stamp from 1977 to 1985 * Only now do I understand that the reduced stamp…
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NMPA changes - taking pension at 55 before 2028
My husband was planning early retirement aged 55 (born November 1971) on 1 April 2027 - he would be 55 before the changes to NMPA in April 2028. However his employers pension provider have written to tell him those born after April 1971 cannot take their pension until age 57 even before the government changes come into…
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Cashing in one of my pension pots
Team, I have two pension pots, an old one I no longer contribute in and my "normal" current pension pot that I am paying in to at the moment. The smaller of the two I plan on taking the 25% lump sum at the start of March next year when I turn 55 and then looking to draw down the balance of that towards the end of March…
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LGPS transfer question
Apologies as I know this question comes up regularly but I would welcome your thoughts. I have LGPS membership from 1995 to 2024 (some gaps due to time out and maternity leave but all joined together). I have approx 9 years pre 2008 and 4 year pre 2014, the rest CARE. I changed jobs in 2024 and moved straight to another…
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Civil Service Alpha - just joining at 53 and need some advice
Hi, I'm looking for some advise around my pensions (and whether finding an independent financial advisor would be any use) I'm 53 I have 4 different pensions from the various companies I've worked for over the years in total these hold about £200k in total (two have around £10K and two have around £90K) there's nothing…
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HM Forces contracted out pensions.
Does anyone know how to locate where my Royal Navy contracted out pension provider might be? I have had nothing but useless info from UK Veterans AFPS at the moment.
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Will my work pension be backdated when first paid?
I have a deferred
Final Salary pension with my current employer. The scheme was closed down over
a decade ago, and replaced with a Money Purchase one, as so many schemes were. I am considering
retiring soon and drawing this deferred company pension, but not the subsequent money purchase one for now. The work pension…
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Which annuity provider? How to select one?
I'm 75, retired, 50% of our investments are in S&S ISAs and 50% in my drawdown SIPP. Overall around 65/35 equities/fixed interest. I'm considering transferring some or maybe all of my SIPP into an annuity as a means partly of risk reduction and partly to reduce the need to constantly monitor performance & fiddling. I'm…
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Starting a pension fund for adult children
My children are both in their early 20's and are currently both undertaking postgraduate study for at least the next two years. They both work part time, one on a "Bank" contract and the other in a small company, to support their studies. They're both back at home for another year at least, and we already help them…
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715 discussions
6.3K comments
Most recent: Delays for P55 tax refund from HMRC by Fishingtime55
22 October at 8:39PM
