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Carry forward's calculation
Hi all, Intending to use my carry forwards allowances this year and I would be grateful if someone knowledgeable would be willing to double check my calculations: Current annual salary £82.6k; Bonus £14k; 25-26 Available Annual Allowance: £108,938: 25-26 Pension payments to date: Salary Sacrifice £8,156; Bonus Sacrifice…
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Taxation over £100,000
If you receive a previous employment defined benefit pension at age 65 which takes you over the £100,000 income taxation limit can you bring yourself back below this limit by using your AVCs in your current employment defined contribution scheme until retirement at 67.
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Frequency of changing invested funds
Hi all, I have two workplace pensions with Aviva. One is a leavers pension from my old company and the other from my current company with ongoing contributions. I'm not keen on the range of possible investments with Aviva so have arranged a transfer of both accounts to an AJ Bell SIPP (which I also use for my stocks and…
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Civil Service Pension Savings Statement
I've just received my 2025 pension Savings Statement - I've spent many hoours working out what this should be , at least approximately - I have some in Classic (PCSPS) and some in alpha. The answer I was NOT expecting was that both should show Pension Input Amounts of £0.00 I'm obviously quite happy if they are both right…
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Civil Service Modeller and Paper Quote
Hi all – I’m due to take partial retirement at 55 this November (Civil Service, nuvos + alpha mix) and I’ve had three different sets of figures that don’t match up. There’s almost a £50k difference in the lump sums between my paper quote pack and the online modeller.Has anyone else had such a big gap? And in the end, which…
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Life Plans-Pensions, Work and Health issues
Hello, I have never posted before and just wondered if anyone can be give me advice re: Pensions, Work and Health issues. These are my circumtances: -I had quite a difficult upbringing due to trauma and have had physical and mental health issues from age 17. I had Saturday/holiday jobs from age 14, but from 17 things were…
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When did you feel financially secure?
Ok so I'm 49. Recently had an unexpected windfall and paid off the mortgage. I thought I would feel different, but nothing. I have probably about 7-10 years left at work. I don't really enjoy my job but it's secure and trying to match my current wage at nearly 50 is unlikely. Pension currently growing nicely with about…
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GMP or COPE
Hi, I'm sorry if this sounds naive, but is COPE the same as GMP? I recently retired. I bought back as many of my missing National Insurance (NI) years as I could (thank you to the forum). My State Pension is £223 per week. HMRC wrote to me saying my Contracted-out Pension Equivalent (COPE) estimate was £39.98 per week.…
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True potential costs and performance
I think with the power of hindsight I was just being lazy when I invested with TP, a minefield for the newbie with little understanding or ind advice, £250k investment has cost me £12k over 3 years which seems expensive to me. Is it relatively easy to transfer this lump sum to another fund and reduce costs increasing…
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International retirement savings fund - tax implications of withdrawing lump sum - help needed!
While working abroad several years ago my employer set up a retirement savings fund with Zurich International for me. I am now back in the UK and have been asked what I want to do with this fund and I could really do with the lump sum however I don't understand the tax implications of withdrawing the funds. For reference,…
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Workplace pension opt in or out
I'm a 61 yr old retired police Inspector but I work as an Exam Invigilator earning less than £3k a year on a casual employment contract. My Council employer has auto enrolled me in the workplace pension and I feel that I need to opt out as the benefits over the next (max) 5 years are small compared to my existing pension…
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UK Gilts (eg TR32) vs Bond Funds for Retirement Portfolio Balance (7-Year Horizon, Retiring at 57)
Hi all,I’m looking for insights on structuring the bond portion of my retirement portfolio, specifically whether to hold individual UK gilts like the 1% Treasury Gilt 2032 (TR32) to maturity or opt for bond funds with a similar duration. Here’s some context to help frame the discussion: Background:* Age and Retirement…
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Standard Life Pension
Anyone any ideas on best investments for a standard life pension in drawdown? Don’t really want to transfer as it’s free to enter drawdown and charges are discounted (as it’s a group pension). Not one for taking significant risks.
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Salary sacrifice and carry forward
I appreciate I have asked a similar question previously but I just want to sanity check something. (these numbers are rounded for ease) salary £105,000 employer contributions £6,000 i am via salary sacrifice paying in £57,000 pa (54%) so with employer contributions I am at £63,000 pa so taxable income is £48,000 Am I…
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CMC SIPP / ISA cashback ?
HI, Has anyone received their cashback from the last offer? Was meant to be paid by today, but nothing for me yet Thanks
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Looking for some AVC & Pension advice
Hi everybody, For context, I am a 28 year old "community waste operative" for my local council & have been in the position for 2 years now. Currently, due to my salary, my contribution towards my LGPS is set to 5.5%. I am in a stable enough financial position to increase my pension contribution and following contact with…
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Help with Beneficiary Drawdown Option
Hi, I have just been informed, yesterday by Standard Life Bereavements, that I am to receive 50% (my sister the other 50%) of my deceased dad's SIPP. It has been offered with a choice of either a lump sum, a drawdown, an annuity or to transfer it to an existing pension pot. Im a bit confused as I cant find any information…
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SW charges and discounts - is this good value?
As part of generally getting my stuff together in financial matters, I've finally got around to looking at my various work pensions - in particular charges and whether they're good value. I was lucky that in my feckless younger days I was signed up to the (Scottish Widows) company pension, assigned to a middle-of-the-road…
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Lump sum pension
Retirement is 1st January 2026 Should I take a tax free lump sum out of my private pension please Thamks
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I'm embarrassed that I can't work this out - any help gratefully received.
Me again. I'm so ashamed at my lack of mathematical skill and my lack of understanding. This is just mortifying. But I am still struggling with pensions. My husband earns £84,500 a year. We want to maximise the 40% tax relief he would get on his pension by paying the 'extra' allowance into a SIPP each year. He has a…
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715 discussions
6.3K comments
Most recent: Delays for P55 tax refund from HMRC by Fishingtime55
22 October at 8:39PM
