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Is the Civil Service Capita problem stopping coverage of other poor schemes.
(sorry - just a rant) Are the problems with the civil service pension scheme causing so much noise that other less bad schemes are not being looked at? My NHS 2015 pension is now 3 months late. I received an email apologising for the delay and assuring me that 84% of recipients in December were paid within 30 days of the…
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Which annuity provider? Where does the commission come from?
Thinking of annuitising a portion of my SIPP. Looking at the Hargreaves Lansdown annuity calculator/quote tool. Example being used is: £100,000 purchase, no tax free cash, 50% spouse pension, 5year guarantee, 3% annual increase. Some enhancements due to health issues. Quotes coming back at £7,150pa highest from JUST, down…
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Pru Fund Performance - fund value confusion
I am posting on behalf of a friend who is not tech savy or pension savy. The information I have is limited so bear with me. He has had a Pru Fund pension since 1988, and has drip fed contributions since then. I don't know how much historically, but currently £50/month. There is no mention of what fund he is invested in…
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Soon to retire
Hi, recently moved my sipp into a safer deposit account as it was in a high risk plan ,as planning on retiring soon,also have a small nhs pension and some cash savings,whats a general tax efficient way of withdrawing from any of the three above. I was thinking of taking the 12750 a year from sipp and a futher 5000 from the…
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When Can you Pay Into a SIPP
I’m working for a few months at the start of the new financial year, after which my salary stops and my pensions are my only income. Won’t be going in to high tax bracket. Currently receiving workplace pension and state pension, but not drawing down on my AVC. Thinking of opening a SIPP to transfer my AVCs into. If I…
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Freetrade - has anyone undertaken a Uncrystallised funds pension lump sum (UFPLS) withdrawal?
I've been trying from the start of February to get a UFPLS withdrawal from Freetrade. The process is ponderous with every step by Freetrade taking a week or more – and that’s with chasing via the “calling into the void” that is its on-line messaging system. Things aren’t helped by Freetrade misplacing my application nor by…
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Stepped Pension
HiI had to
stop work due to ill health and am due to take a small BAe pension this year
aged 65. The pension has a stepped option which makes sense for me because my
analysis shows taking the stepped option pays the most over 12 years which is
probably all I have got. The figures: Basic
pension £5000 Stepped
pension £12000…
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Survivor Pensions
I am just starting the process of tying up my fathers estate and needed some advice on pensions. He is survived by his wife (my mother) - he was receiving a local Government scheme pension - I read online it has something called survivor pensions? I just want to know what questions should I ask and what should I keep in…
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SIPP for holding cash (interest bearing?) for last minute 25/26 contributions
Helping a family member. They are winding down with work, likely to have a final tax year of earning salary before retiring permanently aged 61. They have never really thought about pension and have paid in modest amounts to a DC pension. The plan currently is to withdraw as much as possible within personal allowance/basic…
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State Pension Explanation/Help please?
I have been in receipt of state pension for a few years now and have just had a letter about the increase. BUT I don't understand how it is made up and why it differs so much from my OH's when we have both worked continuously since the age of 16. No Home Responsibility payments due or included. He is a little younger than…
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Is the maths of my pension planning correct?
I wanted to walk you through my pension planning calculations to see if there is anything incorrect or missing about my calculations? Background I'm 40, and pay into a direct benefits pension scheme and have done for around 15 years. I have no other pensions. I'm a basic rate tax payer. I have a partner, who cannot work…
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Any tips for selecting an IFA for pension retirement
I’m looking to book an appointment with an IFA to get advice on taking my pension and putting a best plan together for retirement finances, so best way to use my pension, ISAs and other savings. I’ve read through the advice on Moneyhelper, looked at the FCA register and looked back at old threads on the forum, but still…
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Consolidating existing pensions and taking drawdown
I have unit linked pensions with Standard Life and Clerical Medical. Those are the main ones, although I have a couple of others. I'm getting on a bit and I would like some income. I'd also like to draw the 25% tax free lump sum. I need this in the next 6 weeks. I was thinking of setting up a SIPP. If I cash in the…
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DB lump sum question
I am about to retire and claim my SAUL DB pension and will have to decide how much I want to take as a lump sum once the final quote arrives. I don't need a large lump sum as I have other savings/ISA. My instinct is to take about 50% of the lump sum offered or slightly less to use to spoil myself with a few more expensive…
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NHS pension statements in light of McCloud
My pension statement has very recently been updated to reflect the McCloud judgement and my membership prior to 2022 has reverted back to the 1995 scheme. As I had anticipated, this actually leaves me worse off (though the specific and currently unknown age I retire will affect this calculation). I'm not concerned about…
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Keeping things simple approach in an HL SIPP
I have recently retired and have a DB pension and 2 workplace DC schemes. I have just opened an HL SIPP to utilise more of my possible tax relief for the 25/26 tax year. I would like to aim for 60% global equities, 35% Fixed income/MMF and 5% cash. Any suggestions for a handful of funds to consider? Thanks.
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Calculating SIPP Contribution
Just trying to work out how much my other half would need to pay into a SIPP to get her out of the 40% tax bracket this tax year. Two sources of income with 25/26 tax codes and taxable pay for each as below: Taxable Salary of £19,920 taxed at BR Pension Income of £34,040 taxed at 342L Total income = £53,960 plus some…
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If you turn 55 in the next couple of years but not 57 by April 2028
I’ve just been reading up about the change in when you can start taking your pension, which I’m sure most will know is changing from 55 to 57 on 6th April 2028. I’m one of those people that will turn 55 years old within the next two years but won’t be 57 on 6th April 2028. So as I understand it, I can access and start…
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Pension lump sum contribution
Hi member of SMART salary sacrifice scheme with my current employer with salary of around 28k and on call allowance of 5k. I wish to make max lump sum contribution to my old employee scheme . What is the max I can put into this and take advantage of tax relief contribution? , do I need to allow for my salary sacrifice…
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Accessing PRU AVC (With Profits & MVR)
Hi I am looking to retire in two and a half years’ time (at age 60). I work in the public sector and am in two work place pension schemes. I will be taking my Final Salary pension at age 60. Will get approx. £15,000 PA & Tax-Free Lump sum approx £45,000. The lump sum and pension combined should give me a comfortable income…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
748 discussions
6.5K comments
Most recent: NI years are now full, existing OAP, when should I expect my monthly payments to reflect this? by Dazed_and_C0nfused
22 May at 1:38PM
