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Am I missing any tricks in my retirement plan
Hi All, I plan to retire this Sept aged 62.5. I believe I have a robust plan but do not want to miss anything simple that adds value to retirement income. I currently have a DB of £16,400 that is in payment with the usual RPI/CPI built in and my DC is currently at £370k and I have another 6 months of payment of £3550 to go…
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Transfer from wtw taking ages
hi I have started a transfer from wtw to another provider more than 8 weeks ago and still has not been completed wtw says my funds were sold on 7th April but the new provider still has not received the funds. Since then, the fund has grown around 5% What can I do here? Is that timeframe reasonable? Am I entitled to a…
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Basic SIPP starter advice
Hi All, I was wondering if I could get some basic advice on a SIPP please, as i'm getting totally confused with what I am reading and want to make sure i'm not missing something obvious before I open one. I'm also confused about the pension follow through. Firstly, my main reason for opening one is a mixture of tax relief…
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UFPLS regular automatic monthly payment possible?
Triggered by a recent Diane Sullivan video - warning that some providers aren’t flexible with UFPLS and often FAD is simpler as its a more embedded setup in slow moving pension providers. I don’t know that I’m needing to take a monthly withdrawal but I’d like the flexibility to choose. But trying to understand how the…
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Government control of pension pots
Lots of headlines today (and paywalled stories) about the government 'grabbing control of our pension schemes' If true how will these powers affect the average person in a company DC scheme, will it affect existing contributions or just future ones? Are we exempt from any powers if we've opted in to something other than…
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WillisTowerWatson slow admin
After some advice here please. Our employer pension scheme is held with WillisTowerWatson, and my understanding is it is just a holding company, not a pension provider? (terminology may be way off) Ive heard several stories of ex-employees who've retired, and its taken them 6 or more months to access their pension after…
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The Ten Year Plan... How does this compare to others?
I think I have a plan and wanted to test it against the great minds on here, if you don't mind. We are due to re-mortgage in Nov 2026. Borrowing will be £240k, I'm hoping our new deal will allow us to repay £1500/month for the next ten years. Currently at 40% LTV. Also for the next ten years I'm also going to put…
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Annual Pension Statement
I am retired and resident in Spain. For 7 years my tax advisor has requested the annual statement from the DWP for my pension. I have, so far, NEVER received such a letter and have been able to provide a summary of the payments into my bank. This year, however, the personal statment is not being accepted and I am being…
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Taxed on my already taxed savings
Middle manager, putting an extra £50 per week on top of my pension for the last 3 years, taken from whatever wages I had left after Tax and NI. So long story short, loose my job due to ill health, reach 55 years of age (I'm now 58 tomorrow) and decide to take my pension lump sum to take family on holiday to the states.…
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Aegon takeover
For info https://uk.finance.yahoo.com/news/standard-life-strikes-2bn-deal-072550360.html
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Maximising BR headroom while you can, vs mortality risk pre-75.
playing with optimisation strategies at the moment. Planning to retire at 58. If things go well, we should hopefully have some excess we can use to gift to kids while we’re still here and while they’re not too old. Some can be likely left to inheritance but with pensions going into the estate we want to avoid any massive…
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slow pension admin
hi all can anyone help im 57 and have a db pension with avc's i signed all the paper work off end of jan to start claiming my private pension for start of the new tax year i dont have a passport so i had to send a copy of my driving licence and 2 bill inc bank statement the id is now still the hold up ive been on the phone…
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Bridge to state pension - ringfence funds in lower risk or just draw from overall pot?
Not sure there is necessarily a ‘right’ way but would like feedback. target is to retire in 3 years time. I’ll be 58 and a bit, wife will just have turned 59. 8 years for her state pension to kick in, about 8.5 years for mine. Have a DB pension that should pay £15.5k from april 2029. Income needs - 40k net initially,…
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Tax code for SIPP withdrawal
I just made my first crystallised SIPP withdrawal (I made a PCLS one earlier) of £13,700 but only received £9156.80. On a tax code of 1257LX that seems to make sense, albeit that my online HMRC account shows estimated tax for the year of £226. My question is whether every SIPP withdrawal will be taxed like this, and if not…
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ii website?
I just tried to login to the ii website. It says: "Due to planned maintenance work, this service is currently unavailable." but it doesn't say how long it will be offline and they didn't send me any warning in advance. How often does this happen? And is it acceptable?
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Cancelling tax free lump sum application (before payout)
I’m aware that once paid then then paying back the tax free Lump sum doesn’t negate the tax impact and can lead to negative tax consequences. My question is can you cancel the application before the amount is paid out, with no tax consequences/recycling impact? Many thanks.
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Confusing / contradictory Standard Life terminology
I have a Standard Life Personal Pension Plan (Personal Pension One). Part of this is invested in Standard Life With Profits One Fund. In the annual pension statements, under the heading 'Your with-profits guarantee', the first paragraph reads: "Your plan guarantees a minimum payment from any part of your with-profits…
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Tax Liability Regarding Terminal Illness
Just for the record..............I haven't got one but this subject came up during a recent discussion with some 'fellows' of a certain age :/ :/ I suppose there are 2 scenario's, before you die of a terminal illness diagnosis and after. My personal situation...... I have a state pension which i understand ceases when I…
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Old defined benefit pension choices
Hi. I'm about to retire and amount a few old terminated policy's I have a replacement policy for an old Norwich union now with Aviva. It's a defined benefit occupational pension with a guaranteed pension of 5 years and a death - after - retirement spouses pension and also an inflation increase of 3% compound a year. It's…
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Deferred Civil Service Pension
Hi - wondering if anyone has intimate knowledge of the civil service classic pension scheme as were not getting much sense from Capita. My better half took redundancy from the civil service in 2006 after 18 yrs and became a deferred member of the classic scheme. The retirement modeller available under MyCSP showed options…
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