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Collective Defined Contribution (CDC) Pensions - Coming Soon Earn 50% more in retirement!
Not sure if we have discussed these yet so apologies if we have and please merge or delete. Retiring at 67, part of the reason that an SWR is about 4% is because we need to make sure that the money lasts even if we live to a 98th percentile age of 97, so a 30 year retirement, rather than just budgeting for average…
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AVC help please
I’m selecting an AVC with my employer through Prudential and have 2 options to consider. (I’m 16 years away from retirement) Either the default option which is Prudential with profits fund or the lifestyling option of Prudential Dynamic Growth. Any help would be appreciated as I’m baffled!
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Probably really messed up. Need advice.
I had a career and lost it due to ill health and several surgeries and resultant problems. Since then I've been unwell and in hospital numerous times. This has been going on for many years now. My health has been badly affected. Tried to work as self-employed as I want to work but earnt a severely low income. Just been…
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Mid-life musings
I've started this thread for me to try to gain a bit of clarity on what I am aiming for pension wise and whether we're heading in the right direction. I'm not sure my thread fully fits here as I / we really are working towards being mortgage free, financially independent, being prepared for retirement and hopefully pulling…
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Has HMRC got it wrong, or is just me being thick?
Divorce left me as a single father of two, ages 14 months and 3 years. I spent a number of years bringing up my children. I claimed benefits as a single parent and was not required to sign on each week as I did not have to seek employment. It has just been brought to my attention that I should have received National…
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Trying to get update on State Pension application but can't get past security!
I am acting on behalf of my dad (he is a UK citizen). He reached state pension age whilst living abroad (he did not work or claim any benefits whilst he was there). He arrived back in the UK three months ago and has been living with me since. About two months ago we started his state pension application. As he did not…
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Backdated State Pension
Does anyone know how far back State Pensions can be backdated? In this case the person was receiving Pension Credit but was not aware they were not in receipt of their State Pension.
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Drawdown Planner Spreadsheet
Hi All, Does anyone know where i can get (or share) a drawdown planner, I've looked at many online but they seem fairly basic and cannot be customised for individual circumstances, plus quite a few don't not allow for inflationary effects, other income or income variation. I'm happy to pay for something that works. The…
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Minimising lifetime tax with drawdown
I have been retired for 2 years now and have been fortunate to see my SIPP increase significantly whilst drawing down my personal allowance via an UFPLS and we have also done the same with my partner's SIPP. (We are aware there is a fair chance her SIPP won't fill PA for the whole time until SPA) We have topped up to our…
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SIPP reducing income for tax purposes
I pay into a Aviva SIPP that is uplifted by 20% by the provider. I also pay into LGPS a with my employer. The contributions added together leave me with around 6000 a year. In addition to this I have interest from savings of around 7000 per annum. I have realised that I am paying tax on some of the interest. My tax code…
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Derisking SIPP
I’m 59 and looking to start drawdown from my SIPP (my only source of future income other than the state pension) next year when I’m 60 (I’ve already taken all the tax-free cash out). It’s currently spread across trackers and investment trusts and is roughly 60% equities with the rest in bonds, gold and wealth preservation…
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ishares ibonds?
anyone using or have looked into these? I haven’t checked what platforms provide them but they seem the closest I’ve seen to buying individual bonds but trading as ETFs. You could use them to generate a bond ladder for example and potentially buy and manage fairly easily within a SIPP platform?
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S&s isa or private pension?
Unfortunately my husband was made redundant at start of april- he volunteered as he had secured another job, which thankfully will start Monday. He has a pension with legal and general from his previous employer. He was paying in to the share save scheme although currently the shares are worth less than what he has put in.…
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Have we reached peak annuity rates?
Now that the higher interest rate medicine appears to be working and gilt yields are slightly down, does it look as though annuity rates have peaked for now? OH had a surprisingly good annuity estimate from Legal and General via moneyhelper, but when he went to the L&G website he got a slightly lower estimate using the…
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Retiring Early SIPP access advice
My wife has retired early and has no income at all, she wants to access her SIPP (£380k) to provide a modest income and also make use of her unused tax allowance. I cannot fathom whether she's better off with flexible access drawdown or an annual lump sum of £16,670 each year. Any advice would be most welcome. TIA
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Which provider to consolidate to
Hello All, I'm a newbie registered but have been reading this forum over many months. I can't get my head around consolidating my pensions, my wife has four, one main personal and three from previous employers. I want to bring them into one so that it would be easier for her to deal with if I'm not around. The question is…
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Time From Requesting Part of Tax Free Pension Money to Receiving?
Hi, I have a two pension pots (previous employer & current job) with Standard Life. I've been logging in checking the pot size, because I'm in the early stages of potentially reducing working hours or even leaving the company I work for (via a redundancy scheme). The total amount in the pension changes on a daily basis…
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State Pension forecast £1.5k above the 35yr New State Pension max?
My wife is in the process of applying for her state pension, after well over the max 35 years contributions. She'll be taking it at normal retirement age, which for her is 66.25 years old. The forecast confirmed by the Gov't Gateway, paid monthly (I thought it was paid 4 weekly?) works out at just over £14k per year. But…
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Fiscal drag and withdrawal strategies
Hi all, Interested in the discussion on another thread here re. fiscal drag (freezing tax bands) and how best to get money out in retirement. My current thinking is start DB at 56 (about 12k, covers essentials, a sort of annuity feel…) and top up with SIPP (front loaded) until SP starts at 68. Aim is to empty SIPP (spend,…
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Uncrystallised DB pension reduced in value
Hi, i was made redundant exactly 4 years ago and at the time I asked for a pension illustration on my DB scheme with the Company I had worked at for over 15 years. At the time the offer was £97k lump sum and £14,800 pa. I chose not to take it but 4 years later I have just asked for a revised figure and they have said £90k…
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Most recent: Delays for P55 tax refund fro… by dobbers
2 September at 2:34PM
