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Is it worth getting a pension if I'm only going to work for the next few years
Hello everyone, I'm 27, married and have a mortage, which i contribute to as my husbands the bulk. I'm thinking about a pension plan. I earn around £40K pa at the moment, but I'm thinking of starting a family in 4-5 years, which means putting work on hold maybe indefinitely. Should I still go ahead with a pension while I'm…
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Armed Forces Pension Scheme
New "information" has been released today on the changes to the Armed Forces Pension Scheme and how it will effect everybody. As per usual.... I don't have a clue as to what it means. Does anyone know for definite how this will effect me? I am on AFPS75 Joined in Jan 1995 as a 17 yr old (6months boy time) TX date is…
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SERPS confusion
Hi For some reason I just thought about the SERPS I opted out of back in 1991. Basically I know nothing about it. All I know is I was 19 and an Insurance salesman kinda friend told me I must opt out because the money will disappear to the government. It was a new thing that everyone has to do. Therefore I signed up. I had…
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When to buy an Annuity
It is generally agreed that Annuity Rates are at an all time low, leading to lower than expected retirement income for those on defined contribution schemes. It is also recognised that a number of factors will depress the (male) annuity rate further * increasing life expectancy * EU rules to equalise annuities between men…
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Employer taken too much money for my pension
I have been in a local government pension for the last ten years. The amount I pay is 6.5% of my salary. I recently asked for a forecast, and on the form it stated "pay cannot include payments for non-contractual overtime" For the last 8 years I have been working as a sessional supervisor at the weekends, usually 2 days…
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pension not being paid out
Sorry but I don't understand pensions so can anyone enlighten me please. My husband was traced through HMRC and told he has a lump sum pension due to him from a job he left many years ago. However this company has gone bust and has been sold to an insurance company who is safeguarding the pensions. My husband was 65 three…
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Ex-employer pension plan- how and where to move
Hi there, I've recently changed jobs and unfortunately my new employer pension fund has refused to take in the pension I have with my ex employer. So I had to leave my existing pension savings with my ex employer pension fund. Today I have received the yearly statement and I have found out that the investments have…
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How do I maximise tax relief on pension
Please help me get my head round what to do for the next couple of years. Current situation Salary £75k Salary sacrifice 32% which is 12% company and 20% me Mortgage £27k at 3.99% currently paying £3k per month Pension pot £108k Age 52 and 1/2 Want to retire at 55 and think I have screwed up and should have dropped the…
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Divorce and voluntary pension sharing problem..
I wonder if anyone can help me. My ex wife and I have managed to divorce without using lawyers. The final obstacle is to share 50-50, my pension. I've asked the pension fund manager to simply transfer half my pension fund over to my ex's pension fund. ( Conveniently she has had her own pension fund with the same company…
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Pension Newbies starting in our 40s - help!
My husband is 46 and I am 40. We currently have no pension provision (I know, I know). We've always just about scraped by with little cash left over for contents insurance let alone a pension (no, we still don't have contents insurance). However my husband's parents have just given us a cash gift of £45k, part of our…
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Property rich, Cash poor
I would really like to enjoy my retirement but only have pension credit to live on. Is there any way I can get some money from my property (not sure about equity release!) without losing benefits. I would like to be able to leave my property to my children. What happens if I have to go into a home will they make me sell my…
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Small pension fund question
My wife has recently left her part time position working for HMP.She worked there for about 8 years and in that time has built up a £1500 pension pot. She is 46.We are thinking about chashing in the fund and then investing the lump sum into S&S ISA's.We are not reliant on this money and have enough security for the long…
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Should I warn her off?
My mum has recently told me she is thinking of taking out an equity release plan on her house so she can help my sister who is in financial difficulty right now. But should I be trying to warn her off? My mum is 75 and her house is worth about £140,000. Her argument is that it will all go to a nursing home one day anyway…
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British Steel Widow's Pension
Hi Is it possible to cash in part of my widows pension? Thanks
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H&L Share dealing charges in a SIPP
I want to make a personal pension contribution to my SIPP upto the £7,475 personal allowance before 5th April 2012 (limited time!). I believe the goverment will then add approx another 20% (even though I didn't pay any IT). I normally invest in Funds in my SIPP However, I would like to invest in Shares I wanted to compare…
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my NPI pension pot nightmare: down 32 per cent in a year
I'm caught in a worrying situation regarding my pension pot in a group personal pension scheme with NPI. I had been contributing to the pension for several years before leaving the company in 2000, and have not added to the "pot" in all that time, leaving it invested in the scheme. I get annual statements on the value of…
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Re joining a previous employer pension scheme
Hi, I worked for BT until 2000 when the work i did was outsourced to a private company, which i joined after being made redundant. I left my BT pension frozen and joined my new company's stakeholders pension. Now 12 years later BT has decided to take us back in house and we are being tuped over. I would like to if it's…
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How much to pay each month, aged 28?
Hi I will very soon (end of next month the latest) become completely debt free yay, due to partner paying off last of my debt and me becoming more frugal. My next aim (rather ambitious) is to try and save at least £3 grand by this time next year plus pay for a couple of nice holidays to celebrate turning 30 next year. I…
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Old pension resurfaced
Hello I have never really focused on pensions until now (i'm 47) and starting to look at what I have and what else I need to put in place. As part of this I tracked down an old contracted-out scheme that I started in 1989. I had just started work and signed up for it....I have never made any contributions into the scheme.…
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Should I pay more in?
Hi, I really would appreciate some opinions on my situation; I am 47, full time employed. My employer pays 10% and me 5% into a Standard Life DC pension fund (£335 per month). This is spread accross 8 funds. This is valued at £12,400 (ish) at the moment. I have £52,000 in a SJP pension, invested in 4 of their funds. No…