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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
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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
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Any reason not to aim to empty SIPP ASAP in retirement?
Looking ahead to when I retire (within the next year or so), and setting the strategy. The situation is fairly simple: retire at 60 years old ~£700k in a SIPP Cash ISAs as cash buffer no need for a large lump sum at retirement It seems to me that the SIPP needs to be emptied as fast as possible (25% tax free, rest kept…
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Interesting week for pension fund value
Seemed like a strange week this week - US markets keep going down every day, but my global tracker funds keep going up! Must be FX I guess.
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Advice on moving pension fund now due to unplanned retirement
Hello I was hoping I could get some advice on what the best approach would be to my current situation, which is as follows… I’m 54 and will turn 55 later this year, I hadn’t planned on retiring any time soon but some health issues have made me have to consider retiring in the next year or two. I have a defined contribution…
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SIPP choice - do I need to worry about the details?
Looking to open a SIPP for an initially small pot (< £20k). I've been looking at and trying to understand the details of charges, but I'm not sure I need to; it seems to me the thing to do is commit to something and go from there: - I'm not sure I'll have a good view of exact trades and charges without actually doing it. -…
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ROYAL MAIL PENSION QUOTE AT 55 DONT UNDERSTAND
Hi i had my pension quote from royal mail im in section C - my understanding is that theses are the figures if i decide to take my pension at 55 My RMPP pension shows the following Option 1 regular income £1503 pa tax free cash none tax free cash from cash balance none leftover benefits from cash balance none Option 1A…
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Pension transaction negative adjustment
Can anyone explain what an adjustment transaction on my pension fund is, i noticed that my fund had dropped around 25% last week and when i looked at the pension scheme there was a transaction listed as an adjustment and my fund dropped around 25%. I have been in the process of getting a final settlement for my pension and…
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USS - General discussion
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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A good time to do nothing?
We are a couple, about 5 years into retirement, anticipating another 30 years. I was planning to move a circa £200k private pension plan from an old Aviva with profits to II to facilitate drawdown, and take the tax free 25% to fund extensive work on the house. The rest of this pot is intended to fund lumps of discretionary…
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Alpha EPA under Capita
As we all know, there are bigger fish to fry at Capita HQ right now... But I'm just noting that I don't have my annual renewal letter for EPA. The EPA page, here, still states: The cost of buying an EPA is fixed each scheme year, but will change from year to year. We will automatically renew your EPA and write to you in…
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Pension Basics
Hello, I am one of those people that has paid little attention to their pension other than checking in a couple of times a year and having moved jobs a few times been careful to consolidate to tidy things up. My present situation is as follows: 52 year old male with 5 years served at current employer. I have a group…
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Pension Planning Guidance
Good evening all, Myself and my GF have just had a baby and at 36 I have decided to finally start looking at pensions. Just looking for some guidance on if what I am doing is correct. I have 6 pension pots with roughly a combined value of £25k. They have no special benefits so I opened up a Vanguard SIPP and transferred…
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Who to take lump sum when still working
Hubby is still working and earns approx £31750 this year. He wants to take out all of a small private pension that probably totals £12k 25% of this will be tax fee the rest he will be taxed on when is the best time of year to take it. We are in Scotland so 42% tax from £42663 upwards so i think the balance of the pension…
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Missing employer pension contribution on final payslip
Hi I left my employer in mid-February (and my P45 was issued at that stage). In March I received payment for amounts that they had failed to pay me in February. When checking my payslip I noticed that not only did they not deduct my employee pension contribution in March but they also failed to make any employer…
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Searching for critical mass
I wanted to send this out as a pulse check to see if we are on the right track, generally, and if there is maybe other things we should consider. Married, 2 kids, just turned 40. My partner and I have £390,000 invested across ISAs & pension. Combined we are putting away around £2500 a month into these, and mainly into…
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Lump sum from DB Pension fund
Afternoon all, Am trying to give some general guidance to a family member who should be in receipt of a DB pension (and tax free lump sum in excess of £30k), in about 18 months time. Planning to look at their complete financial situation (cash, stocks and shares, all pensions) to see if it looks realistic to fully retire…
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Can you use pay in lieu of notice to make a personal pension contribution
Hi, I have been made redundant from 30th April 2026 because the company is closing. In additional to a redundancy payment, I will receive around £11,000 gross which is made up of my usual salary for the month, pay in lieu of notice and holiday pay. I will not be doing any further work from this date so this will be my…
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Profile Pensions annual fee?
Morning, everyone 🙂 I'd like to ask kindly anyone of Profile Pensions users, as I consider starting my private pension with them and still trying to find answers for whatever puzzles me.. Their annual fee is 0,82-0,86% with all the aspects included (ongoing investment advice as well) - but WHEN during a year do they…
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Pension draw down strategy over 6-7 years whilst still working
Hi, we want to take out circa £230k from our pension pot by 2032 as efficiently as possible. So we're focused on making the most of the 25% tax free bit and also being as sensible as possible with navigating the 60% trap (since I'm working still and earning circa £85k). I'd like to leave using the 25% as late as possible…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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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
