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Is paying for additonal pension 100% not worth it anymore with Teachers Pension?
I continually buy £250 every year. Now age 40, want to claim everything at age 60, or defer claiming this APB pot I have been building to age 65 instead and take the normal pension at 60. (I have paid for 3 year buy out too) £250 APB. 1 year term, cost is £254 per month before tax, effectively £3000 £2400 in real terms…
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ReAssure Problems
I'm now 3½ months into asking to cash in my pension pot, two complaints, 14 attempts at contacting them, including two phone calls - the second of which they were more concerned about me dropping my complaint than dealing with the issue and I'm still literally at the same stage I was at the beginning of January 2022. I'm…
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Virgin Money: incorrect statutory money purchase illustration versus AS TM1 regulations
I've just had my first pension illustration from Virgin Money (dated 23/06/25), part of Nationwide now, after a number of years of having a pension with them - and it does not accord with AS TM1 v5.1, which has applied since 6th April 2024. C.2.16 states that 2.5% must be used for inflation, but they state they have used…
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£200 a month tax increase after getting State Pension whilst still working
My wife gets her state pension end June, she is still working. The guy that does the wages told her new tax code has changed to K55X and that she will be paying £200+ per month extra in tax. Her old tax code was the usual 1250 one Is this correct for a working person getting their state pension ? TIA Reidy
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When your pension has closed
Hi, My final salary pension was closed in 2015 for anymore contributions. I carried on in the same position but the company joined other companies to become a new one, and I then paid into a new defined contribution pension with a different company. I just had a random email from the final salary pension asking if I still…
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Pension information
Thanks in advance for any replies . Does anyone know the timeline for LGPS to reply with a pension estimate. It was requested in Oct..24 . they then asked my company to request again in early March when they contacted asking for an update. This was a month ago, but I've not heard anything yet. I have emailed my company's…
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Pension details for someone with dementia
I am trying to track down details of pensions belonging to my mum who has been diagnosed with dementia. I have an LPA in place to allow me to take care of financial decisions but she cannot help me track them down as I need previous work information. She cannot tell me this, let alone the pension companies. How can I find…
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Carry Forward Query
Husband is 53. He earns 140k ish. Last year (with employer's contribution) he had 50k paid into his Aviva DC pension. This year to keep under 100k he needs his and employers contribution to be approx 63k. This would use 3k carry forward from 24/25. He also has a small deferred DB pension worth 8k pa at 60 which increases…
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Pension switching incentives
Lots of coverage on incentives for current account switching, but none that I've seen for pensions. I kind of get it - bank accounts are a well oiled process, don't involve long waits, differing paperwork requirements, and potentially large sums needing to move. But given that the demographic of this board is made up of a…
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Opting out query
I worked for a company that opened a works pension. I have the option to opt out but i will lose my employers and tax relief contributions. As i am now retired and over 55 what are my options for taking the money out without losing the contributions?
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Tax on pension
Hi. Friend of mine has gotten himself into debt and is trying to work his way out of it. He is in a debt management plan and things aren’t going well for him. His wife of 5 years has recently left him, leaving him with all the rent and other household bills. Anyway he is short of ready cash and has decided to withdraw his…
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Means Testing of State Pension
There's been a bit of talk about this lately, and in its current form and with the country's finances not the healthiest, I think it's inevitable at some point. Any opinions on what form this could take?
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Civil Service Pension & Tax
I was retired from the Civil Service on the grounds of ill health in 2013 (I was in the Classic Scheme). Due to circumstances, I didn’t claim it at the time; I am now looking at doing so. My annual pension will be 12k. MyCSP have confirmed that it will be back-dated (ie 12k x 12 years = £144000). What I was hoping to do…
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UK retirement planning tools
Hi,I'm looking for a DIY retirement planning and drawdown tool that can make suggestions, especially around tax. There are lots of options in the US, but in the UK I can only find a product from Retireeasy.co.uk. Does anyone have experience with this tool, or know of UK alternatives? Thanks,
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Rate my SIPP - ITV high conviction
A note about diversification: I know it’s important. I’ve done it all my life. Had plenty of bits and pieces of ETFs like VWRL. But sometimes you have to just go for it. That’s what high conviction means to me. “Diversification may preserve wealth, but concentration builds wealth. - Warren Buffett A note about dividends:…
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Changing my pension investments - unable to do it without FA
Hi, I rang Aviva and asked to have my pension changed to 80% cash and 20% low to medium share investment. I am retiring in December 2025. Aviva refused to do it and said it was their policy.Is this correct and why I cannot deal with my own money the way I want? MyAviva only allows the change from one fund to another, but…
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Pensions private and state
Hi All I have a friend who is Brazilian and resides in Brazil. Her English Civil Partner passed away 7 months ago, her partners sister says that the Home Office are now involved because they apparently have concerns. The family are not divulging to her what the concerns are. The Solicitors have already received the…
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Split Year Treatment Pension Contributions
Dear All, I am returning to the UK from abroad in August and will receive split year treatment for this tax year. For pension contributions, what am I allowed? How does the £3200 I am allowed when abroad and the contribution amount I am allowed while in UK work? Do I have to calculate e.g. 30% of the tax year abroad = £960…
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Tax Free Cash > 25%, Scheme Specific Protection
I was pleasantly surprised to find out I had scheme specific protection giving me tax-free cash > 25% for a workplace pension that I commenced in January 2006, details as follows:- - A Day Tax free Cash: £400 - A Day Fund Value: £1000 - Current Value: £150,000 (of which approx. £60k contributions after A-Day, remainder is…
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Annuity purchase timings
I've looked through as many forum posts as I can handle - Hundreds. Anyway...I'm 65 and expecting to start receiving my State pension next August. I'll be working until then. I have 4 DC pots from previous employments. I'm in my employer's pension scheme, paying 6% plus my employers 9%. Looking to do my research into…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: If You Have Registered For A Call Back Look Here by dreaming
2 August at 4:34PM
