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Auto enrolment tax relief
I am already using my maximum tax relief with my private pension payments, will I be entitled to Auto Enrolment tax relief with my NOW Pension which I intend to take up in April? I believe you can ask for 3 years of unused tax relief to be used. Is this correct?
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MSE News: Hidden pension costs must be revealed, Government says
"Pensions Minister Steve Webb says it's crucial employers' defined contribution pension schemes are transparent..." Read the full story: Hidden pension costs must be revealed, Government says Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to…
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Why do you hate income, and love capital?
I was listening to the BBC Radio 4 MoneyBox Live programme on retirement-income choices. It's available here for a limited period: http://www.bbc.co.uk/programmes/b03vgf4h The show hosted a group of technical experts who fielded calls from members of the public, on the topic of retirement income. What struck me is how many…
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My wife doesn't pay tax but I hear that there is still a tax gain to be found.....
Am I right in thinking that you can make a small pension contribution and get some tax relief? My wife has a few old pensions - very small - and doesn't earn much now - we save for her via ISAs. But I have been told that you can save a small amount into a pension and get some form of relief. Can anyone clarify?
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Retirement planning for dummies
I am in awe of those on this forum who have so much knowledge of financial planning. I have to be honest and say that so much of what is talked about is way over my head. Is there a book that folks would recommend where it assumes you know nothing? Sorry, there is no doubt threads asking the same but I am also rubbish at…
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Pensions are very risky?
Hi I've dug out my paperwork for my stakeholder pension. I am a pension newbie, and I don't understand enough of this to properly digest the paperwork, but I am learning. From the bits that I have read, it seems to me that all pensions are bad and risky. I used to think that pensions were safe and secure and could…
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National Insurance contribution on pension
I have just retired at the age of 60, I don't intend to work again (maybe a small part time job). I have worked full time for 44 years so I see no problems with my contribution towards my state pension. If I do not work again will my pension have NIC deducted from it? If so at what rate? Help please?!!!
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Should I get a pension?
Hello, I'm a 26 year old currently without any form of pension. I'm wondering if it's something I should start looking at now even if I can only afford to put £20 away each month? I always led myself to believe that if I got on the property ladder early and bought more property the elder I got then I could use these as my…
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Aging relative - pension, ISA, investment advice please
My aunt, who we look after, has in the last 18 months taken it upon herself to sort out a new will, arrange a funeral and nominate myself as PoA. All good and very sensible.:) The other day she gave me a couple of carrier bags full of correspondence to sort out and look after. This process has revealed that she is sitting…
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Small Pension Pot
Hi, My MiL has a small pension pot (approx 5k) after working in a shop for the last few years. She is 67 so looking at giving up work but I'm not sure it is worth her buying an annuity with this amount. I understand based on the size of her pension pot and age that she could take this as a triviality payment but was trying…
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Buy an annuity for £100 @ Cavendish
Have been refunding commissions on ISAs for a while now.....about to disrupt the pension market now with £100 flat rate annuities. https://annuities.cavendishonline.co.uk/page/details Potential to save thousands.......you need to know exactly whats right for your circumstances as I doubt theres any advice included.
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How to advise son on workplace pensions?
My son, 25 yr old, recently started his first full time salaried job in a small company who have said they are not, I believe initially, enrolling the staff in a workplace pension scheme. Am I correct in thinking that they will have to, but not until 2017? Should he start saving into his own pension now, or would this have…
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TXU energy pensions.
I'm in the process of sorting my aunts financial affairs out, I have LPA. She had a pension after working for years for Eastern Electricity. The only paperwork I can find is dated 2002. Anyone know who this company may be under now.
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MSE News: Pensions firms face competition probe over annuities
"The FCA is to investigate the annuities market amid concerns it's depriving many pensioners of a fair retirement..." Read the full story: Pensions firms face competition probe over annuities Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to…
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Friends life pension funds
I'm looking for a fund that I can use to put some money into agriculture as part of my pension but can't find a fund that does this. Does anyone know of any investable through a friends life pension? I've looked through their funds lost but find it quite confusing!
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Question on loan against house
Hi, My grandparents who are 93 took a loan out a few years ago at fixed 7% rate using as a guarantee their house.. of course every year the loan is bigger as it is accumulating interest and therefore costing them more and more.. At the same time they have some investment in bonds which is giving them hardly any annual…
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Are my pension contributions enough??
I previously read a comment from Martin saying at age 30 you should be saving 12% of your wages towards a pension/ retirement. I currently pay 6.5% into my local council pension which is matched by my employer. My question is, with my work matching does this count as the 12% or should I be aiming to save an additional 5.5%…
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UK pensions
The government of the UK must prioritize pension and initiate reforms such that senior citizens would benefit more and enjoy their old age
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Invest heavily in pension for future?
Hi all, My heads in a bit of a spin trying to work out the best investment, and I think my pension is the answer. can I bounce this idea off you? About me: age 32, salary is £45000, I work at Tesco which is a defined benefit pension scheme. I joined 4 years ago, and pay 5%, which tesco , then add to to to make 16%. This…
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Section 32 policy
I have an executive pension plan from a previous employer.The trustees of the scheme are about to wind the scheme up.I am being forced to lose money by being forced to transfer the funds .I understand that I can at least protect my enhanced tax free lump sum by transferring the funds into a Section 32 fund.Is there a…