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Dad is retiring
i was looking for advice for my dad who is retiring (in July)about how he can create an income for himself and my mum with the money he has received. He is 61 this month and wont be eligible for his government pension until he is 65, he has his private pension and with his lump sum he is planning to pay off his car and pay…
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Do I take part of pension early?
Hi - I am 57, currently on benefits - ESA/Council Tax/Housing Benefits. Have discovered I can start 2 small pensions early and take 25% tax free now, but this will mean with my small savings I will lose all my benefits. The only reason I am thinking of taking them early is to get benefit people off my back, as the stress…
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Help with Friends Provident pension
I would be grateful for any help you can give with my husband's personal pension with Friends Provident. His annual statement showed most of his units are in the With Profit fund. Other funds he has are in Managed, UK Equity, European and Global Equity. I am now looking to switch money out of his With Profit fund into the…
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Considering moving my HSBC stakeholder pension
I had a stakeholder pension with Marks and Spencer that is now HSBC's stakeholder pension-International Mananged Pension fund.... Anyway their customer service has been appalling over the last couple of years and everything including changing address has been a mammoth effort which i can ill afford....As for getting…
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armed forces pension
hi all, new to the site and was wondering if you guys could help me out. i have a lump sum pension from the army which i recieve when i reach retirement age in 26 years time. due to me and my partner splitting i now find myself renting which i dont want to do. i was wondering if i could use some or all of the pension to…
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Savings Credit how can I find out more about it
Please can anyone tell me how I can find out about Savings credit for pensioners who have small amount of private pension and who get too much to get Pensioners Tax Credit. I have searched the benefits website but cannot find out how to claim it and how much it might possibly be worth. The only thing I find on the benefits…
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Penison Loans
Hi Folks, have a question on pension loans are there such a loan & how safe are these companies to use online ,thanks for any info
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Ill health retirement
I have been approved for Ill Health Retirement on an NHS pension at age 42. I finally got my choice statement and I am really lost as what to do for the best. I am unable to work so receive DLA & ESA. My Husband works full time. Is there a threshold for amount I can draw per month as I am claiming benefits? How is the…
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Pension contributions
Hi guys, have a question, just wanted to know if its more advantageous for my company to pay 7% into my DC scheme or for me to take the 7% cash in lieu of pension cont and pay into my DC scheme myself. I'm a 40% tax payer if that makes any difference
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Start a Pension Company/Fund
Hi all, this might sound a little absurd but i want to start my own pension company/fund. i currently work for a local authority and have been paying into their pension scheme for a couple of years. i have spoken with some colleagues and we have decided to transfer what we have in our local authority pension into one that…
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Over 80s Pension Credit
Moved to benefits board.
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Advice Anyone?
We have a house valued at £245,000 and a mortgage of £137,000. Because our business of 22 years failed we need approx £40,000 to pay credit card and loans off. We are currently on a DMP but I have just been finished at work. Hubby is not well and I am going nuts! Does anyone know of any equity release firms that will buy a…
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Pension and non-tax payer
Hey, I don't really understand pensions, but have got as far as having one. I have a private pension only (I dont work for a UK company) When it was all explained to me, I was paying UK tax on my earning, and now I am a non-tax payer but still resident. How does this work with the normal tax relief? Thanks in advance
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Pension top up
I have a shortfall in my teacher's pension of 9 years when I stayed at home to raise a family. At 55 my retirement age is 65 though I do not know whether I will continue to work till then. I would like to make up for these missing years but cannot decide whether the best option is to squirrel the money away in Isas for the…
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How is this fair?
About 4 years ago I requested a transfer value for my Civil Service pension. It stood at approx. £26k and I left it. A few months ago I requested another value and to my horror it had dropped, but nevertheless decided to transfer it. The CETV came with a 3 month guarantee period, after which it would have to be…
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Pension credit
I am almost 65 and was on pension credit until last week, but I have a small property (holiday home) in France. I had declared this to the DWP originally and had it for sale until earlier this year when the bottom fell out of the market and the current value assessed at less than I paid for it, so I withdrew it from sale.…
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New SP guarnanteed amount ?
What will the minimum guaranted income level be for a pensioner ? If he/she has 15 years NIC they are due £70 pension (15/30x£140) Last weeks statement said there will still be a means tested top up to a minimum level which will have to be claimed.
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Transferring pension query
Hi, I left my previous emplyer in June of last year. Due to the nature of the scheme i was told that i had to transfer the plan into a new plan with my new employer or one that i take out myself. After having spoken to my new provider today they have said that i will need to take IFA at a cost of some £800 to transfer to…
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Decisions decisions
Hi all...would appreciate comments.. I am 65 in October....have a small pension pot of £90,000...went to see a IFA company (local and well established) yesterday...they seem to be veering towards a D-PIMS plan (as yet to be worked out)...thus allowing my better half who comes from an extremely long lived family to continue…
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Lower pension for increased lump sum?
At the age of 62 and after 30 years I have just taken voluntary redundancy/early retirement from my public sector job (my post was to go in July anyway). I've received a redundancy payment which is about £4,000 less than than a years pay. (I can't be more specific due to a compromise agreement). I will receive a pension of…