-
Transfer of NZ Kiwisaver to UK.
I have a private pension plan in New Zealand and am migrating back to the UK soon. I can withdraw the savings from the plan after being out of New Zealand for a year and intend to transfer the money into a UK pension plan before buying an annuity. Would the amount transferred be subject to taxation in the UK? Thanks
-
Taking 25% tax free lump sum from DC AND DB pension. Is this possible?
Hi I'm around 1 year away from retirement. I plan to utilise UFPLS to withdraw money from my one DC pension pot. I also have a DB pension, which is a 'frozen' pot from a previous final salary scheme, where I plan to utilise an annuity for guaranteed income. My question is; given that I plan to use UFPLS for my DC pension,…
-
LGPS Redundancy - Local authority
Hi, I started my LA on 3rd July 2000 and being made redundant aged 59 on 30 June 26. How many weeks redunduncy pay do I receive? My LA says 29 weeks but online im reading 30 weeks! Thanks
-
Increase pension contributions and live off salary and savings.
Reading a comment on another thread just got me thinking. I am a 40% taxpayer this year and, all being well, will be a 40% taxpayer until I retire in 3-5 (hopefully not more) years. For 2026-27 and 2028-29, it looks like I can contribute 24% of my salary via salary sacrifice to remain in the 20% tax bracket, when factoring…
-
SIPP contribution needed?
Having salary sacrified throughout the year, I am now down to gross salary of 112k and cannot put do any further pension contributions. I plan to put some money into a SIPP to get me under 100k. Will a bank payment of 10k from myself be enough in view of 20% claim back or should I pay 12k from bank account into SIPP?
-
LGPS - AVC or APC?
I'm 53 and would like to retire a few years early. My current salary is £43k. I've been paying into LGPS since 2003, with a break just short of 5 years when I moved into the private sector. Jic it makes any difference, I've linked my old LGPS pot to my new to benefit from pay increases. I'm not sure of the longevity of my…
-
Teachers Pension - Retirement Planning
Hello all, I am looking for some pension advice for my Teachers Pension and am not sure where to go. I have had some very brief discussions with the pension service but it was both too broad and went a bit over my head, and I believe I can't get advice from Pension Wise because they offer their free appointment for defined…
-
Unused SIPP allowance from 2022/2023 tax year
Hi, I have a SIPP with II and I can see that I haven't used any of the allowance for 22/23. Is my understanding correct that I can use 22/23 as long as I make the contributions before the 5th of April as it is within the 3 years? I've never used carry over before so I'm unsure as to how II handle it or the process for…
-
LGPS - checking pension contributions
Hi, I saw a post on Martin's FB page about checking that all your pension contributions have been allocated to your pot. Do I need to do this for LGPS, and if so, how do I go about doing that? I can't see a monthly break down on the portal - is it a case of going through the annual statements? Thank you!
-
NHS Pension Extra Contributions - HRT
A friend of mine who works in the NHS and is a Higher Rate taxpayer has asked me about making extra pension contributions for tax reasons. I assume she means tax relief, particularly any amount that she pays 40% tax on. I have had a quick look at the website and it looks like there are 3 choices, very similar to the Civil…
-
Tax Free Lump sum
I have. Private pension from when I contracted out of SERPs. I am 55 and have a civil service pension. I work full time and will continue to work for 7 years. I earn over £40K. I have checked my state pension and have paid enough NI to receive full state pension. I would like to take 25% tax free lump sum from private…
-
Is it worth keeping a Stakeholder Pension
hi I did have 6 different pensions from various employers etc I have since transferred 3 into vanguard, so left with 3 now Main pot Royal London and a Vanguard sipp ( although no truly a sipp), but i also have a RL stakeholder pension value less than £200, is there any benefit in keeping this?
-
Pension Drawdown in the new Tax Year
I know I am over thinking this, but not sure what to do in the current market? I an in my early 70's and normally drawdown a sum from my DC pension to take me just below the 40% tax bracket at the start of a new tax year. Currently have a full state pension and a small fixed DB pension. The drawdown would be 5% of my…
-
Help with knowing how much is 'needed' to retire?
Online calculators to me are quite worrying in that it seems to be unless you have a pot of £1million then you're going to struggle in retirement & while some will be fortunate enough to be in that position, I certainly wont. I doubt many of the people I know either will be fortunate enough for that yet they seem to do…
-
Voluntary NI payment from abroad. Any fees on UK/Barclays account side? (HMRC)
Paying 923GBP into the "GB49 BARC 2020 4830 9447 93" account for 2025-2026. This year I'm paying from Ireland (Bank of Ireland account). Last year, from another bank in Europe, I could select "pay fees on both sides" ("OUR" or something like that.) Bank of Ireland/Ireland charge no fees for transfers to the UK. But there's…
-
Moving pension from Aviva to Vanguard?
Hello I am after a bit of advice please. I have just left my employer and I am trying to decide what to do with my pension pot. Currently it is invested in Aviva Pensions My Future Focus Long Term Growth S2. The pot is not much, about £100k, which worries me as I am 43yo, so I am desperate to grow it as much as possible. I…
-
Immediate Needs Annuity
It looks like someone I have LPAs for is going to need a lot more personal care soon. Two quick questions. They have a Prudential Bond, could this be used towards an Immediate Needs Annuity? Can the payee of an immediate needs annuity be changed, so if we get one for homecare and they have to go into a home could it be…
-
The Pensions cashback and incentives discussion thread
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…
-
Tax relief
Hello, I currently earn a basic £47,318 per year. This year ive earned £56,788 with my bonus and overtime. Ive put into my DC Pension £7422 this tax year and £1,910 into my DB Pension. How much tax could I get back if I did a self assessment. TIA
-
pension contributions refund advice
Just looking for some advice , nhs pension contributions, i have paid the wrong amount and my contributions have been adjusted to 10.5 not 12 percent , the refund of these contributions will they form my taxable pay for that month ? thanks in advance
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
