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Pension sharing annex - no solicitor
I started proceedings for a divorce in 2021. I have been awarded 33.3% of my ex husbands pension. I don't have a pension as I was a SAHM. No other assets. I've been asked to send the Pension sharing annex by my exes pension company so they can release the funds. I have looked at the form and I don't understand some of the…
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Pension credit,
Hi, I am looking for someone to explain to me (as I understand it), the pension credit scheme. I have recently retired and worked for fifty years paying all necessary N.I. contributions to obtain the full state pension. What I cannot understand is why someone who has not contributed to the full qualifying period and then…
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MP Estate Planning & Asset Preservation Trusts - Buyer Beware!
Searching through the forums there is an older thread which covered this firm, which you can find below. The thread has been closed, but I came across information related to this, so thought I'd post it in case anyone else does a search about this company. The article is by well known tax lawyer, Dan Neidle, and is posted…
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How to apply GAD reduction factors to CS Alpha
I am trying to calculate how much Alpha added pension will be reduced if £6600 was paid from salary during 2026-27, giving £453 if taken at NRA of 67, but then the added pension was taken at early retirement aged 56. Would I get zero in April 2027, then in April 2028 a reduced figure from £453 plus CPI? What would the…
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IFA vs DIY
I'd be interested to learn what are folks' views on DIY pension management vs. handing over to an IFA or similar? My immediate concerns would be handing over my life savings to a relative unknown and them scarpering off with the money, their ability to manage the risk, pick funds/bonds etc, fees, etc. On the other hand, it…
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Defined Benefit pension transfer advice
I have a Defined Benefit Cash Balance Scheme pension with a transfer value of c.£70k. I would like to transfer this to an existing SIPP. In order to do so, I need a suitably qualified advisor who can sign a Pension Transfer Advice Declaration for me. All of the advisors that I have approached either aren't suitable…
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Salary Sacrifice after taking state pension
I am 66 next year and am entitled to the full state pension. I want to continue working part-time for a year and want to stop paying tax of on my non ISA savings by utilising the starting rate for savers. I will be getting about 2.5K in interest. As I see it I have 2 options. Pay the majority of wages into my work's…
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Over annual allowance
I contribute to my employers pension scheme via salary sacrifice. For the last few years I’ve been fully utilising the £60k annual allowance so have very little carry over available. I’ve just realised that my final paycheque for this tax year will take me over my permitted annual allowance by about £2k. Although my…
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Civil Service McCloud lump sum confusion
Myself and my wife have been planning for retirement (I'm USS and she's Civil Service). She has been subject to the McCloud remedy but we have been going round in circles as to what this means, and the Civil Service pension modeller is not helping. The first issue is the lump sum (I tacked this onto the end of someone…
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Nest Pension - anyone have experience of taking money?
I'm looking to start taking money out of Nest, but I'm getting conflicting advice from them. On the one hand they have said "If you have £3000 or more in your pot you can take some cash out and keep saving with Nest. You can do this once every calendar month. Up to 25% of each withdrawal will be tax-free, and the rest will…
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Pension while recuperating abroad.
A relative who is visisting family in France unfortunately has had a fall and broken their hip, they have been told it could be between 3 and 10 months before they are able to return home. How will this effect their state pension and do they need to inform any government departments?
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Transfer of SIPP to self managed fund
I consolidated a few DC pensions a few years ago under the advice of my FA. Having done the Rebel Finance School course, I now want to leave my FA and transfer to a self managed SIPP. I'm 60, don't need to start withdrawing for a few more years unless I need to access the lump sum. How do I go about finding out which fund…
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Please could I check if you think this makes sense
Hello. This is my first time on here and I wondered if I could ask for some views please. For the past 8 years I have saved to ISA’s and not a pension. I will be stopping work at the end of April and wondered if it might be worth me opening a SIPP and paying in this year’s salary. I will earn £29K this year but will be…
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Prudential Investment Bond
Hi, I'm trying to help my mother-in-law out with her finances as her husband is in a care home and at the moment she is self-funding. She has a Prudential with-profits investment bond with added life insurance. It was taken out in 2001 with £63,000 and has 20 policies. It has grown over the years and is now worth about…
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Equity Release for Centenarians!
I’m hoping to find someone who can advise, preferably from experience rather than theory. My mother lis 100 years old, and living in her mortgage-free bungalow with the help of live-in care, following a couple of falls and hospitalisations last year. She is generally healthy and happy with her situation. My brother and I…
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CS Alpha - early reduction factors
I've been looking at what I think are the reduction factors for taking Alpha early: Factors Guidance Hub | CSPS_GB My NPA / SPA is currently 67. I have also been buying EPA -2, but not for the whole duration of Alpha, so I will have two parts with different nominal retirement dates (age 65 and 67) but which must be taken…
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Retirement Planning
The 'Savings & investments' board have suggested to post here and have edited this post. I am nervous about investing but need to get on with it. I have 12 years till SP age, an old work pension worth about £100,000 and a separate pot of savings to last till 12/2030 with no debt. My current spend all in is about £30,000 pa…
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Fixed term annunity or drawdown
I am 59 and looking to retire at the end of May when I turn 60. I have a DB scheme which I intend to cash in early foregoing the lump sum in favour of a higher monthly income. I also have a DC pension with Aviva of £148000. My intention was to buy a fixed term annunity with £100k (with a lump sum of £35000 on maturity)…
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Annual Allowance and Salary
Question about the amounts I can put into a pension and annual allowance. I know I am limited to my annual paid salary. So… If I earn, say, £57,000 and am in defined benefits scheme. My pension grows by £2000 in a year and there is no automatic lump sum and CPI for the sake of argument is nil. So my pension input amount is…
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ILG ladder query
Below shows ILG ladder costs and GRY for 100K withdrawal each year for 5 years as a means of preserving wealth until SP kicks in. I understand the assumed inflation rate is 3% - and is currently 3.2%. The first 2 gilts show a negative GRY in real terms - I assume at 3% inflation. Q then - Assuming the above is correct, and…
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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
