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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…
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NI contributions
Hi . New to the forum so apologise if my question has been asked before. I read on the site that I only need 30 years contributions to receive a full state pension. I have worked all my life and am now self employed, do I still need to pay national insurance contributions. I retire in 2018.
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Using Solicitor as POA.
We have two kids neither of which we can rely on to act for us finance wize when we need to. So we are really down to a more formal arrangement with a solicitor or similar. Has anyone had this experience we can draw on? Thanks.
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Don't put of your Annuity tip
Martin says in his excellent guide not to put off buying your annuity, So for example: Single life, level, no guarantee Age 60: £5,382 Age 65: £6,020 So to gain £638 per year when your 65 you give up £26,910 (£5,382*5years). Now here's my money boosting tip: Put your pension payments into a Cash ISA until your ready. So in…
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Scottish Widows Pens 2 & 3
I'm in a group pension that is with Scottish Widows. I'm 50 y/o and contribute a total of £1k/month. The contributions go into the Pension Portfolio 2 and some of that has started to drip feed into the Portfolio 3. I spoke to my IFA about moving some of my pension into other funds to try an increase growth, but I'm told…
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ready to retire
hi all, I dont retire for another year but I am thinking of getting used to it and trying to live off my works pension for a few months does anybody have any idea what my NET monthly pension would be on 20K per year and then of course I will have the state pension :) if I struggle I will keep on working !! thank you P M
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Annuity purchase advice please
I'm due to retire at the beginning of April this year. I have accumulated 2 pension pots: approximately £72,000 with Zurich and approximately £42,000 with Canada Life (as a result of opting out of SERPS). I assume my best bet would be to use one of the comparison sites? Can anybody recommend one in particular please?…
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State Pensions
How much of my state pension would pass to my wife if i died first
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Living abroad
I am planning to take early retirement and move abroad (we have a house in the Philippines) I will have pension income plus rental income from a uk property.will I be able to still take advantage of my and my wife's uk tax code against this income.our total income will be less than £10000 each so would we therefore pay no…
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Cristallise a pension - options
Hi, My pension is likely to be greater than £1.5m when I'm 57, so it seems to make sense to go for fixed protection now to lock in the £1.5m rate (I'm 52 and will not likely get a company contribution to my pension after April) and then crystallise the pension when it hits £1.5m. My question is - what then? I won't need…