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Worked abroad - buying qualifying NI years
I thought I'd post this in case anyone else is in the same situation. We worked abroad between 1989 and 1999 so paid no NI contributions and claimed no child benefit etc. We decided not to buy any NI years when we returned as I started work at 18 so will have no issue with getting enough qualifying years and my wife didn't…
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Is this the right pension investment ?
Hi, Using this forum I have finally decided to invest in a personal pension. I will be investing in the region of about £50-60k but i may invest a a few chunks rather than all in one go. I am 53 years old and intend to retire, from my current job at least, sometime in the next two years. I have been looking at my own…
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Policy Exchange attacks pensions with "Help to Save"
The conservative Policy Exchange think tank today made a range of proposals that undermine pension investing: 1. Mandatory purchase of an annuity with half of a pension pot's value. 2. With the remainder, mandatory purchase of one of an approved range of funds that prohibits capital drawing, so you're forced to die with a…
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pension question
hi I have a railway pension that I have been paying into for almost 40 years I have a choice at 40 years to stop paying into the pension with no loss of rights but can my employer reduce my pension by 10% each year If I leave before the age of 60 I am now 56 if I have paid max contributions any help please thank you
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Small Funds Lump Sum ?
I'm wondering if someone could offer me some advice on this subject please? I've received some paperwork today regarding a pension fund I had, outlining various options. One of the options is to take the entire fund (£17269.57) as a lump sum, subject to a tax charge. I meet all of the eligibility conditions. I would like…
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Advice
Hi All, i have 3 pensons.. one with standerd life think i have bout 2k+ not paid any in for 5 years, A final salery one with the company im with which also no longer get paid in, due to them stop it or something cant rember and a new one with this company being paid in to friends life... just want advice without having to…
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Going back to college - Mature Student - Pension?
Hi All, I'll try keep this short and to the point. * Completed college at 19 * Been in full-time employment for 3 years + payed into a pension since I was a glass collector at 16 years old * Going back to College this Sept' 2014 * Then going to University 2015-2018 From now until September I will continue in full-time…
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Self employed Pension, House investment or ISA?
Hi, My partner and I are 30yrs and know it's about bloomin' time we had some sort of Pension! We are self employed, and have a house (with mortgage) which we rent out, which will have paid for itself within 10yrs, and will be generating income well before we retire, but currently only £7200 per annum. We are wondering…
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Pension planning
I need to guesstimate the value of a pension "pot". I think it's a " "how long is a piece of string" type question, but the number I've come up with is £450 per month for a £100,000 pot. A few facts and assumptions: Normal retirement age Married Good health Survivor gets 50% It's just to get an idea, does that figure sound…
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Saving my pension
Can some one please advise I receive my state pension this year. I wish to pop it into some sort of savings, any advise please ?
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Young, self-employed, starting pension...
Hi there, I'm 26 years old and wanting to start a pension as I'm self-employed. It all seems pretty confusing, and as I don't know all the ins and outs I don't want to make any key decisions about when and how it's paid out, and all the other options. I want something pretty safe but with half decent growth to it - and…
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Two pensions
Just started a new job, the only reason they have a pension scheme is down to the governments new pension policy (thank you government) However, the max I can pay in is £45.83 them £75 per mth. Then after a year of working there the max I can change this too is me £90, them £165 per mth...... As this is such a low amount…
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Workplace Pension question
My OH got an e-mail yesterday regarding auto-enrolment into his workplace pension. Now he is due to retire in 18mths and has been told he can of course opt out if he chooses but would it not make sense to stay in even for this short time as his Company are going to pays in 1% and he will also contribute 1% in effect…
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Pension drawdown
Hello longtime lurker here just a quick one, I have the opportunity to take my pension before long age 55, and if anybody has taken their drawdown are they happy with the performance with it after taking their 25% so far ?. I hope I make sense as I am a bit scared about what to do and have read and read over the last few…
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Management fees
I'm not sure if this post is in the right place. My parents bought a bungalow last year which is on a retirement complex. They may a management fee of about £1400pa. On top of this they want a consent fee for things like putting in central heating or asking for permission for a cat or dog. It did go to Peveral before but…
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actuarial reduction buy out
I am 53 in civil service classic pension & have been offered voluntary exit. My compensation is £90000 & I understand amount over £30000 would be taxed at my highest rate (40%). Buy out figure for unreduced pension is £110000. If I use my compensation & £20000 savings what are tax implications? My salary is £50000 so I…
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Scottish Widows Governed Investment Strategies
http://www.scottishwidows.co.uk/extranet/literature/doc/45422 Why are the charges only 0.1% ?
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Frozen Pension
I have a two Prudential Pensions which are worth £80,000 between the two. I froze these about a year ago due to financial difficulties. I am 53 years old and used to pay around £200 per month into them. I am just wondering whether it worth restarting these again or just leaving them until retirement and investing the £200…
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NEST Pension
Apologies if this has been mentioned many times but I don't know where to start. My employer sent me a letter regarding investing in the company government pension(NEST), is it worth doing & are there any dis-advantages of not signing up?
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Advice by IFA to switch pension funds
My work pension is currently invested in the Aviva Mixed Investment fund (40-85% shares) S2 fund. I have ~£17,500k in the fund. My employer pays in 10% and I pay in 5%. I recently met with the IFA who manages our work pension schemes, and he's suggested I switch funds in order to "increase your diversification and increase…