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Keeping 2 pension pots in drawdown/ufpls
Hi. 5 yrs away from retirement hopefully and starting to think about the mechanics of taking my pension. I have 2 pots with different providers, set up to bridge the income gap between 60 and 67. Would it be a pain to leave both pots and withdraw from them. Is it better to consolidate into one?
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Max SIPP contribution in year of retirement from Civil Service
If I retire from the Civil Service part way through a year, can I check how much can be put into a SIPP that year. So if my gross pay for the year to date was £10000 and I had contributed £500 to Alpha and my employer contributions from my payslip show £2500 what can I save in a SIPP? I assume it’s £5600 ( 80% of £7000)…
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Inherited Annuity
My father passed last year and part of his estate was an annuity which was surrendered as part of his estate. I received part of this as per his Will and was subjected to 33% tax. Recently I received a letter from HMRC whereupon the amount of the payout from the annuity has been added onto my annual income and tipped me…
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Winter fuel allowance for pensioners re-instated 🤗
For all those earning less than £35K per annum. 🤗 Just announced Monday 9th June.
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NHS McCloud remedy notifications?
As I recall, it was originally stated that the majority of NHS retirees who were affected by the McCloud ruling should be notified by April 2025. However, the NHS pensions website has been changed, stating that this has been delayed with no revised dates given. So my question is are there any forumites who are NHS retirees…
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Is a Trustee allowed to stop paying a pension?
Today I received a Pension Information Request; the request is very much a demand. The words If the Trustees do not receive this completed form the pension that is being paid may need to stop are included (and are in bold). This may seem trivial to some, but the letter includes a must be completed by date that is 1 month…
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Civil Service-partial retirement
I have recently applied to claim my preserved Premium Civil Service pension. I have reduced my working week to 60%. I had to opt out of the main Alpha scheme and join the Government Commercial Office L & G scheme. MyCSP have informed me that I can’t claim my pension unless I opt back in or fully retire! I can’t opt back in…
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Tracing a financial advisor from 1990
Hi all, long time lurker! i wondered if anyone could point me in the right direction please, short story: i left the military in 1989, in early 1990 i was advised by Advanced Financial Associates Ltd , at the time in the east midlands area , to transfer out of my military pension into a private pension (of what type I'm…
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Tax on lump sum pension payment not deducted
Apologies for the long first post..... A couple of years ago I took the maximum tax free lump sum of £268,275 (from a pension (with Company A), so my future lump sums from other pensions should be taxed. Last tax year year I took a lump sum from a small pension (from company B) and after many delays I was paid the sum due…
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Uncrystallised Pension
Hi, I currently have a uncrystallised pension of £600,000.00 that I am looking to access at 55. I have a DB pension which is £12500.00 per annum which utilises the nil tax personal allowance. My pension is invested 100% equities and I want to take out £15,000.00 per annum tax free. Am I correct that this will reduce the…
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USS Deferred Retirement Delays
Dear All, I would be grateful for your views and advice. I am taking early retirement and want to start taking benefits from my private pension scheme (USS). They stated that they would handle all the paperwork for that if given 8 weeks to process it. I submitted my paperwork 10 weeks in advance. They did not process it in…
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Question: Is the Pension Credit Department Collecting Data regarding missed prior years
Dear All, Several weeks ago a received a phone call from someone claiming to be from the Pension Credit Department regarding my request to buy missed prior years. They asked for my NI, DOB and Residency Status. Because I was pleased to receive a call regarding this issue I gave out that information. I then became…
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Apparent large loss after buying index linked gilt
Just bought a tranche of TR26 IL gilt (22/3/26, 0.125%) on iweb and it is showing an immediate loss of 35%. Buy price was 154 rather than the clean 99.4. Managed to stay calm - just.I have only boiught conventional gilts before and the apparent loss was much smaller and it is easy to see how it represente interst payments…
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USS Personal Allowance Calculation - any advice please
How do I work out what I have left in my personal allowance (max is £60,000) if I retire at the end of this month? Is there a calculation I can make? The USS Contributions & Tax Calculator allows me to model against the Annual Allowance, but does this for a full year. I suppose I could divide by 3, (four months, April to…
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British and Irish State Pensions. Advice needed.
Hello, I'm British, a UK resident and I currently have 21 years of UK National Insurance contributions built up. I also lived and worked in the Republic of Ireland and have built up 24 years of PRSI (Irish National Insurance) contributions. I therefore qualify for a full Irish State Pension but I will not qualify for the…
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Child benefit NI contributions and Self Employment
I am a stay at home parent, partner brings in around 50k. I receive full NI credits via our child benefit payment which I will get for another few years yet. My query is; I have this year been making a small amount of money from selling products, which if I keep going, will go over £1,000 by end of 2025-26 tax year. I…
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deferred pension arrears extra payment tax
Hi there. I aplied for my deferred state pension last July. It is for 10 years. The DWP took so long dealing with it all papers getting stuck in Belfast etc that they did not get my basic award notice to me till the end of March. Then proceeded to put about £11,000 into my account on the 7th april.. after the tax year end!…
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Pension consolidation into a Salary Scheme (defined benefit) pension
Has anyone experienced consolidation into a Salary Scheme pension? I can see from the info page on this site that its advised not to take out of these as they are valuable but doesn't mention anything about the other way. Especially as the process is complicated as the Salary scheme provider gives you a 'transfer…
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NHS Pension and Redundancy
It looks like there is a strong possibility of redundancy just around the corner. That's not all bad, I've been planning my bridging pension for some time. It looks like if it did happen any redundancy payment would be made in the current financial year and a very big chunk (I'm aware first 30k would be tax free) would be…
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Cheapest Sipp: build yourself a low cost DIY pension article
This discussion relates to the Cheapest Sipp: build yourself a low cost DIY pension Article To discuss click reply
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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