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Pension calculation help to get me to 25k pa
Would really appreciate guidance on what is needed in terms of future investment by me to get me from my current position to my goal of circa 25k pa pension excluding state pensions. My wife and I spent yesterday looking at our spending patterns and determined - in todays money - that in order not to impact lifestyle too…
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Final Salary/Defined Contribution One Pot
Many years ago I started work for a company who had a final salary scheme. I joined and transferred in an amount from a private pension I had previously. After a couple of years we were taken oven and the Final Salary Scheme was closed and frozen. A new DC scheme was offered which I joined. Up until earlier this year I had…
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winding up a trust
Hope this is the best place to post this: 20 odd years ago my mum made a Settlement in trust form for her 2 grandchildren. I am one of 3 trustees. Over the years we have used income to pay for education/university etc. The kids are now in their 20s and employed. We (3 trustees and 2 beneficiaries) all agree the trust has…
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Had a pension for 4 years. Can I take the money out?
Hi there. I started a pension when I was 19. I'm paying £80 a month in and the government puts £20 in. I'm wanting to buy a house so will I be able to take the money out that I've put in? I'm thinking of stopping paying it until I get back on my feet after I've bought a house. I'm sure the financial adviser said they will…
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To estimate a joint-life annuity rate?
Can anyone suggest a method for estimating joint-life annuity rates? It's fairly easy to get an indication for "standard" couples, where, for example, the second life is three years younger than the principal insured -- these can be found for various principal-life purchase ages. At 65, a joint-life, index-linked annuity…
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any body got any advice on using charles
any body got any advice on using charles derby as I have asked them to see if the charges are to high on my 2 small pensions I have have with friends life and aviva and they will show me if anywhere else can do any better and aviva have warned me against predators stalking my pension help much appreciated.
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Pension tax relief
Hi, I have paid a substantial amount directly from payroll into my occupational pension last tax year via salary sacrifice and this year as part of a redundancy package (42K each year). In both cases my P60/P45s shows taxable earnings under the 40% threshold. Does this mean I am not a 40% earner for both years in terms of…
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Pension forecast
Hi all, I have a pension through work with Hargreaves Lansdown and is the Vantage SIPP. Just had a forecast through and am after a bit of quick advice if worth continuing. I contribute £80 and my employer about £90 a month so roughly £170 going in a month. (I can't afford to contribute anymore). Fund stands at £13k and if…
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Pension Tax refund
I pay into NHS pension but i have also opted in to topping it up and pay extra monthly to do that. For various reasons I have to do Self Assesment Tax form which I do myself. I am a higher tax payer - 40% I am wondering if my extra payments through PAYE are actually taken into account? I don't declare on my self assessment…
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pension credit
I am in the process of applying for pension credit and want to know what will happen to my partner who is 10 years younger than I.Will she stop signing on the same time as I as we have a joint claim for JSA and we will be claiming jointly under Pension credit?
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Time to see an IFA
5 odd years from early retirement and have decided I should get some 'expert' advice on my investment strategy/plans. I like to think I am pretty clued up in the area of pensions, investments and tax but its time to make sure I am on the right track and have not missed anything I will regret later. First step is to find an…
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pension at 55?
I have 2 pension funds that i dont make cont.to one worth around £3k the other £20k,i havent been able to work for 15 years and have a number of health issues Q. would i be able to take the tax free 25% when i`m 55 next feb but not the pension(in other words leave 75% to continue accruing?)
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Annuity v Buy to Let
I would like to purchase a buy to let property rather than an annuity. To do this however I would require virtually all of my pension. I understand that I can only take 25% of the value tax free. Is there any way I can use the full value of my penion to buy the property without paying tax at that point? Obviously I would…
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ABI interested in retirement information.
https://www.abi.org.uk/Insurance-and-savings/Topics-and-issues/A-new-retirement/Call-for-evidence https://www.abi.org.uk/Insurance-and-savings/Topics-and-issues/A-new-retirement/Consumer-survey
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National Insurance in Early Retirement
If someone semi retires at 55 and earns £25k from employment plus £15k from pension drawdown, is the pension income subjected to National Insurance or only Tax?
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Any tips for my sips??
Hi everyonejust after some opinion and views on where all ofyour smart money is from 2014 onwards.... Basically i have a workpension with sl where I put 80 into a month, my employer puts 40 and I recieve around 20 in tax relief to a total of about 140. I wish to keep this in there managed fund as the returns for the 2…
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The Pension Guys
I've recently been contacted by a company called The Pension Guys, who are offering me a free pension review. They seem legitimate but just wanted to check if anyone else had experience of using them? On the paperwork they sent me it says: The Pension Guys is a trading style of ACL Consultancy Ltd (Company No 07865881)…
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Pension Planning
I'm looking to retire in 3 years (55). I have a personal pension, fund ,should be around £200k by intended retirement age. I'm looking to obtain an income of £1500 net per month, so current annuity rates should give me around 50% of my target. I have £120k in bld society but also both cash & S&S ISA's valued around £70k…
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Annuity Investment for an 85 year old - yes or no??
An 85 year old relative has been offered (by an 'independent' financial advisor) a SunLife 5-year Certain Single Annuity. My relative is considering a large up-front investment in this product on the basis of the returns. I'm very wary of this, so can anyone help with the following questions: 1. Is this a good idea given…
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Pension Guarantee
Hi , I just found out that I have a guaranteed pension payout rate . I am 58 , and at age 60 I can recieve £97 per £1000 and at 65 it will be £109 as long as I stay at the Pru for my annuity. If i'd realised this earlier I may have increased my premium. This is equivalent to earning 10.9% on savings ! I am wondering if its…