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Overpayment into a private pension
Hi,having read a few articles on overpayment into a sipp and back dating for last 3 years. What is the actual benefit being as you get taxed on drawing it eventually from the pension after the initial 25% non taxable amount. My situation is a pay a nhs pension thats deducted at source,with other investments for the first…
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Earliest retirement date change in April 2028, am I affected?
Hi there, Apologies for the lengthy first post. Hopefully someone can offer advice if they've perhaps asked the same question and had a more informative answers than my local government pension service was able to give me. Basically, I have been in my LGPS since around 1993. Earliest Stated pension age to take benefits…
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claim tax relief on pension: impossible! I need a professional...
Dear all, I've been trying to claim tax relief on my pension contributions for month with no luck. I've followed this page: https://www.gov.uk/guidance/claim-tax-relief-on-your-private-pension-payments after having contributed some considerable extra amount to my private pension for 3 years (within the tax-free allowance…
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planning for death is expensive!
My basic plan looks fine - stress tested for 2% real returns and monte carlo etc. But if one of us dies (specifically me as the most impactful) - my DB gets cut in half, and we lose one state pension (after 67 - prior to that we have life insurance still in place). Before, almost all funds were covered by guaranteed…
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Sipp flexi access drawdown and LSA
Hi all About to start drawing down from my II sipp. I think I'll be going with Flexi access and so thinking about the amount to crystallise at a time. Am I right in thinking that as long as you have enough cash to withdraw then crystallising the entire fund offers protection for the lump sum allowance? In other words, and…
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ILGs held to maturity
To hopefully assuage my fears - am I right in thinking that even if there was a collapse of the bond market and providing ILGs are held until maturity, all other things being equal, it would not affect the redemption value on maturity? I note yields seem to be rising and various articles on declining investor confidence in…
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Crystallised v Uncrystallised pension
I’ve been doing some reading to try to fully understand the concept of crystallising a pension, I think I’ve got my head around it but would appreciate if I could get some confirmation here that I’ve understood the various scenarios correctly… So at a high level an uncrystallised pension is one where the funds have not…
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Pension contributions
Hi This might not be the correct section to ask If someone earned £110,000 on PAYE in 25/26, could they make a personal pension contribution now to reduce their additional tax liability? Mean to add, they already have a pension in place, employer only contributions to date
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Change to private pension actuarial factors and commutation rates
Hi My private ‘final salary’ pension scheme has recently made changes to the Scheme’s actuarial factors and commutation rates. As a result of these changes my reduced pension on retiring early in 3 years time at 57 has reduced by around £3500 and my lump sum has reduced by £20,000. I have 30 years service The pension…
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Scottish Widow's calculation
My Scottish Widows' Pension valuation. My fund value calculations differ from Scottish Widows'. Have I missed something? Could this be due to hidden charges or adjustment For example: SW BlackRock ACS World ex UK Equity Tracker CS8 £23,344.51 13683.77 units at £1.71 each 20122013's total : 13683.77 units x £1.71 each =…
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Transferring a SIPP from one provider to another
How does this work. I have a Vanguard SIPP with money invested in a fund. I want to transfer the SIPP to T212 and I know the same fund is not avaliable in T212. There are similar funds. Are the funds in Vanguard sold and held as cash before the transfer and then new funds purchased when the Transfer is complete? Anyone…
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Some General Advice
Hi, i have about £175k in a pension fund. Currently sitting in Money Market accumulation. I have work pension Nest that is ticking along 8k in a High Risk fund. I want to spread the £175k (with Vanguard) across about 6 to 7 funds perhaps leaving 25k in the Money Markets. Just after some advice. My time frame is 5 years…
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What to ask? Where to start? Tax Planning pensions and IFA
Posting because I would like to know what questions I should ask of an IFA to make sure they are a good fit for me. Background: I used an IFA to open my Retirement Account with Scottish Widows many years ago. Firm no longer in existence and on reflection I did not make good use of the service or really research what could…
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Improving pension position and savings
Hi everyone I've recently turned 40, and am due to inherit some money, so taking the time to consider my financial matters... Especially pensions, where I know I'm lagging behind a little. I'd appreciate any advice on what to change and where to invest. Job: £46,000 annual salary Pension: Current workplace pension is worth…
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Moved: Housing benefit for pensioner if they sell their house
This discussion has been moved.
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Is it wise to buy annuity now and continue to pay into pension pot
Hello, I'm 55 and have a pension pot of £60,000 I was wondering if it would be better to use ALL the pot to buy an annuity now, then use the mothly annuity income to pay into a new pension pot with the view to buying another annuity in the future…. OR take 25% tax free (£15,000) and buy an annuity with the remaining…
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Drawdown - L&G or move elsewhere
I am retired on a comfortable DB pension and get the full state pension later this year. Since retiring I have also run my own consultancy business which I intend to strike off soon and go into full retirement. Excess profits from the business have been invested in a L&G workplace pension which I have had for several…
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Pension Transfer - Cash or Investments
I'm looking into transferring a couple of old persona pensions into a single SIPP and given the current climate what are the pros and cons of transferring cash rather than investments. I am aware that a cash value transfer will be quicker.
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Transfer from HL to II
I am going to initiate my transfer this weekend I have been reading the information about transfers on both of their websites. However I have a couple of questions that I could not see answered in their FAQs. I will be doing an in specie transfer If I hold a OEIC with a different share class to that is available in II, do…
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What to do with a pension that is due to 'pay out' whilst still working?
Hi all, That's probably a badly worded thread title but hopefully I can make myself clearer 😀 Many moons ago, at a former job, I was paying into an Aviva private pension. I left the company nearly 15 years ago and haven't paid a penny into the fund since. From what I can tell, from the latest statement(s), the portfolio is…
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Most recent: Aged 72, didn't claim state pension at retirement age as NI credits Missing by Brie
16 June at 5:32PM
