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Friends Provident Pension Fund Choices
Looking for some advice on the choice of funds for my Friends Provident pension. My employer will contribute 12% if I contribute 8%. My contributions will be made through a salary sacrifice arrangement. The funds available to me are listed on page 11 of the brochure: - http://www.friendslife.co.uk/doclib/bpen163b.pdf I…
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My Gran and Her Care Home....
I have just been discussing my Gran's finances with her and she has asked if I will take on a power of autourney for her. She's of sound mind now, but wants to get something set up just to be safe. That isn't our issue though, the problem we have is with her savings and home and the care home she is in. The care home costs…
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Working out Gross Contribution to Pension from Net Figure
Wondering if anyone can help - How do you work out a Gross contribution to a pension from the net personal contribution to take account of the tax relif. I take it you can do this on a calculator? if so - How? - Maths was never my strong point!!! many thanks in advance
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SIPP contribution...a little help needed
I have opened my SIPP - first year, but I need a little help with the amount I should contribute and get tax relief. For the year 2010/11, my gross income was £19,414 and my tax £3,575 (all on PAYE). I understand that the tax is added back to my own contribution. So far I have put aside £13,750 from income and savings to…
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Frozen pension what to do??
I had pension with the Social Housing Scheme which I paid into until 2004 and since then it has been frozen. I have some credit card bills to pay off and wondered if I would be able to cash in this pension as I also have an NHS pension which I have been paying into since 2005!! I have contact the The Pensions Trust via…
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Standard Life Pension Advice Required
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On the horns of a pension dilemma
The news about the possible £155 pension in 2015/16 has put me in something of a tizz - I'm guessing I'm not alone! I'm 60, and have just put my state pension claim on hold after hearing the announcement. If I take my state pension now I’d get £130 a week – if I defer to 2013 I’d get £157 pw. I’m tempted to defer but need…
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Cashing in Equitable Life With Profits Pension
Hi, I have an Equitable Life With Profits Pension, it is an old company pension from a job I left in 1992, it is not worth much in the grand scheme of things but I wondered if it could be cashed in and the money used could be invested in my small business. I have asked Equitable Life and they say no, government legislation…
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Comission rates when buying an annuity
Hi Sorry if this has been covered before, I have searched the forums without success. I am about to buy an annuity with a total fund of approx 120k. 25% will be taken as a tax free lump sum. The quote from the IFA shows that he is paid over £ 3,000.00 for his advice and then 1% of the annuity fund value each year. Is this…
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Will I be one of the ones who lose out?
I will be 63 in Feb 2016. I've been told by DWP that I'll get my state pension in Jan 2016 when I'm 62yrs 11 months. Whats the betting that if the new flat rate pension is brought in, it will be in April 2016. It would be in my interests to defer my pension for say 6 months , but if I do that, would I be treated as a new…
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Annual Allowance
Pensions Annual Allowance The 2011 budget summary that I am looking at describes "Carry forward of unused AA". I am self employed and did not make any pension contributions during the year 2009/10. I suspect that the carry forward is referring to unused £50,000 annual allowance. Am I concluding correctly that I cannot make…
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NHS Pension Top Up
My wife (who is 51) has the opportunity to top up her NHS pension by £4000 p.a. She estimates that this will cost £60,000 in extra payments to do this. She plans to retire from the NHS at age 60. The money to top up her pension would otherwise be invested in an ISA feeder account over the next three years. My questions…
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HELP! -Changes to the compulsory annuity purchase.
The following is listed as the new regs regarding annuity purchase..... I have a query regarding this, perhaps someone can help. My query is listed after the following............. The Government today confirmed plans to scrap rules forcing everyone to use pension savings to buy an annuity by age 75. But pensioners will…
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what happens to pension
if i dont take my pension before i die will my wife get it and if she dies will it be transferred to my children
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Help Commuting LPG and investing lump sum
I have looked at similar threads but they don't quite answer my query. I have had some conflicting advice for two finacial advisors I already have a full state OAP and am about to take my LGP I was going to take my full pension and smaller lump sum One advisor said I should consider taking a smaller pension and a larger…
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Defered Memeber of Money Purchase Pension Scheme
Hello, I need help to understand a letter I have had from the administrators of my deferred pension. This is what it says.... "Your current fund and transfer value is £32747-15, of which £11657-59 is in respect of post 97 Protected Rights, £14797-77 is post 97 non protected rights, and £6291-79 is AVC's." What I want to…
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LTA Fixed Protection and Final Salary payments
When the LTA drops from £1.8m to £1.5 in April 2012 you can maintain the £1.8m level by registering for “Fixed protection” to . The rules state you cannot make any ”money purchase contributions” after April 2012. In the case where you have both a PPP and an ongoing Final Salary Scheme to which you continue to contribute,…
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Teachers' Pensions
Hello, I am 34 and am in my 5th year as a Primary School teacher. I've been looking at my pension pot when I retire and wonder if AVCs or buying Additional Pension is the best thing to do? Any help of advice would be much appreciated. Many thanks
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Transfer from LGPS to TPS?
Quick question for those in the know I have received confirmation of my current benefits from my LGPS - £46500 I now have the option to transfer it to the TPS. Given that both schemes are similar in terms of benefits and both likely to be going through similar changes in the not to distant future, would it be advisable to…
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Lgps ?
I have previously paid into our LGPS with a different authority, I have changed authority and looked at transfering my pension across. I know nothing of pensions and today have received a letter about transfer of accured benefits do I transfer or not need advice my pay is higher in this authority than my previous one. Does…