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Take DB pension early,
Am I missing something here I'm 57 next month and plan to go at 60 In the mix I have a small final salary that's forecast to pay around £4kpa at 65 But found out if I take it next month they will pay me £3k pa so that's £24k before I get to 65 Yes it's taxable but would just pay 3k it into my current DC pension for the…
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Capita gets final approval to take over admin of civil service pensions
Saw this article earlier today: Capita gets final OK to run Civil Service Pension Scheme It may just be me, but there certainly seems to be quite a bit of "if all goes OK" fingers crossed in there ... !
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Pension investments/Global crash
Hey I've been reading a lot about a potential stock market crash due to A.I. stocks being overinvested to the extent that a crash could happen (as suggested by the gold price surge). This has got me concerned, as my pension is heavily invested in the BlackRock Global Equity fund, which has large holdings in US tech stocks.…
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Annuity or take the CETV
I have descent DC pot which I intend to use drawdown income from and together with partners DB income and ISA interest and State Pension we will be comfortable during retirement. we are both 56, and retiring in the next year. I also have a DB pension from an old employer which is worth to me £4500 per annum as an annuity…
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Using an annuity to reduce IHT ?
Googling indicates it can, the capital used to buy the annuity is considered spent so is no longer subject to iht. So far so good. But when you die, the annuity stops, or passes to spouse which is iht exempt anyway..... So where's the annuity/IHT benefit...?
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Interesting TEDx talk on the 4 Phases of Retirement
Just come across this interesting 13-minute take on retirement 👍 (apologies if this has been posted before) The majority of threads here focus on finances, & whilst that is clearly very important, perhaps not enough time/thought is spent on the other elements of retirement 🤷♂️ His topics cover vacation, loss, trial &…
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Pension Help
Help looking for some advice. I have 3 small private pensions, 2 with ReAssure and 1 with Nest. The 2 are worth around £30K each and the other £16k. I am 72 and claim a state pension as well already receiving a private one. (I left my job this year in May) I want to withdraw the tax free lump sum, (sorry if this sounds…
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YouTube recommendations for investment advice
Hi, I'm 5 years off retirement and am now going to divert future contributions towards building a near cash buffer. I'd like to explore a bond ladder but wondered if there was a YouTube video that anyone would recommend as trustworthy. Many thanks.
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Moving from Alpha to Partnership - tax code change question.
Hi all, I’ve switched from Alpha to Partnership. £2,800 a month is deducted by payroll. L&G add £700 for basic rate tax. My Department pays £1,500 direct to L&G. Total is £5,000 or £60k per year. Perfect. Total contributions are £2.8k x 12 = £33.6k, so I think I’m due an extra (40%-20%) x £33.6k = £6.7k refund. Ie my tax…
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SP Bridge Strategy
I have ear-marked a sum in my SIPP as a low risk (largely in STMM) basic expenses bridge to SP pot. My original thinking was to draw this using UFPLS from the SIPP topped up with some ISA income for tax efficiency. While pondering this it occurred that my OH has some headroom in her annual allowance so it might be better…
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Tide business current acct-Vanguard
Hi im trying to set up a payment to Vanguard from my Ltd company Tide acct, however not allowing me as states the card is not a debit card but a credit card. Tried all ways however doesn’t seem to allow me- any ideas?
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Maximum contributions on pension
Hi all So does any1 know how much i can contribute to my workplace pension. I cant find the answer online it just says cant go below minimum wage a really dont understand it. So i Earn 32k and really want to put as much as possible as i am playing catch up as i have never had a pension before. hope someone can help thank…
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Stay at home mum, can I use my carried forward allowance to pay into a new pension?
I’m currently a full time stay at home mum and have not paid into
my former work pension for 5 years, and to be honest I’m not sure if I am able
to make personal contributions into it. I am looking into consolidating my
pensions and ideally, I would like to open a new SIPP. I would like to make use of the carried forward…
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How to manage pension
Hi I will soon become able to access my DC pension fund which is currently worth £600k. What I would like to do is have the certainty of knowing that 25% is not going to fall from the value of £150k no matter what happens to the market. This will notionally cover my remaining mortgage and give me 2 years of expenditure…
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Return on 80k - private pension -
Hi Took some tax free - 25% from a private pension Haven't taken a penny more I dont contribute to this pension Here is the breakdown since
£75044 - Fund value on 26 September 23 £72211- 26 Oct 23 £76886 - Nov 23 £86,616.01 Sept 24 84930 oct 24 £81,655.54 January 25 £80,454.48 April 5th 25 £78,725 April 25 £80909 May 25…
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LGPS: Transfer problem
I have been a member of a local government pension scheme since 2003 and have continuous service since then paying into the same scheme. In 2023 I moved to another part of the country and chose to have my pension transfer over to the new area's LGPS so I could continue to be a member and maintain my benefits. This year I…
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Higher tax band - Claiming back
For about 18 months I was in a higher tax bracket of 40% I was also in paying into a private pension. (coming out of my bank account) I didn't realise at the time, but I was loosing out. They were adding an additional 20%, but I was entitled to more. I understand one way to get this money back is to do a tax return. Is…
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Acronyms ahoy! NHS PIA, AP, AA queries
I’ve learned so much from lurking on this forum for a while
now, but I have some questions that I can’t seem to find answers to and I would
really appreciate your thoughts. I’ve pasted my details here: * My standard NHS pension contributions for this
year will be around £3162. * I purchased some AP in the NHS scheme via…
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Annuities - why all the hate?
So I am getting ducks in a row with a view to retiring somewhere in 10-15 years time (was planning 15 but now thinking my job might only last more like 10, which would put me in my very late 50s). I have a reasonably sizeable DC fund and obviously 10 more years to pay in too. My current thinking is to use some of it (not…
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Unprotected Part of Personal Pension paid to Official Receiver but not enough tax deducted at source
Hello, I am hoping someone can shed some light on this please as I can't find much information online as the laws have changed now so everything that comes up refers to the new laws. My husband was made bankrupt in 1997 (less than £10,000 debts). A charge was put on his personal Prudential pension at that time (the law…
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: Guide discussion: Voluntary national insurance contributions by JimTheseus
14 November at 10:10AM
