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Merged: Another question about directors' pensions and the "wholly and exclusively" …
This discussion has been merged.
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Merged: 57 or 60? – sanity check
This discussion has been merged.
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Two USS paths, cannot decide
I am in USS and 56, essentially I have a choice. 1. Stay until 60, 3 days per week, and get USS pension of 31k + x3 TFLS at 60. Will have IB/DC's of 500k. 2. Go now and take 24k USS + x3 TFLS. Will have 500k IB/DC at 60, if I leave invested. All todays money. The extra USS under path 1 is essentially due to staying and not…
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Mid-life musings
I've started this thread for me to try to gain a bit of clarity on what I am aiming for pension wise and whether we're heading in the right direction. I'm not sure my thread fully fits here as I / we really are working towards being mortgage free, financially independent, being prepared for retirement and hopefully pulling…
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Maximising Higher Rate Tax Relief When Opening First SIPP
I have a DC workplace pension with Scottish Widows which is matched by my employer at 7% which I have been paying into since 2004. I'm now 54 and want to pay in a lump sum in this financial year but I'm think of opening a SIPP rather than adding to workplace scheme. I want to maximise higher rate tax relief which I believe…
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Big problem with P55 and expected future DB pension payments
Not sure if anybody else has fallen into this rabbit hole using P55 but sharing as a warning & would be good to hear any similar experiences. I took £42,500 out of my flexible drawdown pension in October 2025 (it was all taxable as I already took tax free lump from the entire pension value a few years ago). I haven't taken…
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USS Global Equity Fund performance compared to Vanguard FTSE Global All Cap Index Fund
Hi, For the past 3 years Ive been paying a much larger monthly amount into my USS Global Equity Fund than I have into my SIPP FTSE Global All Cap Index Fund. How has the USS Global Equity Fund performed in that time compared to the Vanguard FTSE Global All Cap Index Fund? Perhaps I should be better paying the much larger…
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Tax on small LGPS pension
I took my deferred / reduced LGPS from Dec with an increased lump sum. They said they will pay it monthly and my tax code updated today to 1257LX. Currently no other income except interest on UK savings , total annual income below 17500 & I'm putting the max allowed each year into SIPP from savings. My understanding is I…
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Believe I've over paid into a SIPP.
A while back I saw a FA about some money me and my husband had. I mentioned that I had various pensions with differing amounts in, many from years of temporry work and a couple larger ones. The FA recommended opening a SIPP and she collated all my pensions from the various providers and put in into this but also £16k from…
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How to partially annuitise from a drawdown fund
I’m 72 and have recently retired. I was previously paying into my employer's DC pension scheme with Scottish Widows (SW). I’m now looking to take an income from my pension savings. Annuity rates are attractive, but I would like to hold back some of my savings, at least until I am 75, while my children will have the…
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Is the PCLS Rate likely or unlikely to be changed?
Given that successive
governments have repeatedly leaked potential changes to policies to the press,
to basically do ‘market research’ on whether the change would cause uproar. And given
that the last few years the press have all jumped on the potential changes to
the PCLS just before each budget. Just for
fun…. Do…
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Problems finding out total charges on pension
Why is it so difficult to find out what your total charges are. I have several pensions and as a year end review I am trying to find out what total charges I am being charged. As an example, I have an old SERPs with Royal London, I rang them up and they said a standard 1% charge is applied, but in looking at my statement…
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Aviva final bonus query
I've got an old deferred Aviva stakeholder pension. It's worth £189k and given that I will likely be drawing from it from 2030 to 2040, I've recently de-risked from what was almost all equities plus some old with-profits, to a more balanced set of funds, retaining the with-profits fund. I am contemplating moving to an…
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I've had confusing pension advice - help!
Hi All, I wonder if you can help. I have had two advisors state different opinions, and I could do with some clarity. In simple terms, is it better to pay £320 a month into my pension each month for the next 10 years, or is it better to put £38,400 (the equiilent amount over the 10 years) in straight away and then no more.…
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over paid tax deductions
I receive NHS pension pay every month and had a second job which was terminated 15 Dec. Checking gov gateway for my tax pay...i noted that £719.16 was deducted in tax (for January) from my NHS pension despite my tax code being 1257l. That being 50% deduction in tax. (normal tax deduction is £78.40 monthly) After several…
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Aviva - choosing funds
My employer made the decision to leave the TPS just over a year ago. I have accrued roughly £17.5k per year DB pension from 68, or £12k if I go at 58 (which is the current plan). I am now paying into a DC pension with Aviva. I’ve turned off lifestyling and decided to come out of the default fund a few months ago because I…
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Self Assessment Confusion - Says 'No Tax to Pay'
So I did my 23/24 Self Assessment on 2nd January and my calculation shows I owe about £2k of tax for 23/24 and £1k on account for 24/25. Makes sense - EXCEPT my account balance says 'NO TAX TO PAY'. I've spent hours online trying to figure this out, why can't it be clearer HMRC !?! First I thought it would filter through…
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CETV for DB pension for divorce
Hi hoping someone can advise on whether I’m missing something. I’m preparing for divorce and want to know the value of my DB pension. It’s a closed private sector DB scheme administered by WTW. I’m a good few years before I can draw from it. It’s about £26k/y last annual statement. I also have DC components in the same…
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SIPP part Crystallised and Future Contributions
Hi All, I'm getting confused on what my limits are for contributing to a pension after I part crystallise and take a 25% lump sum. If for example I have £400k in my fidelity sipp, and I crystallised £100k of this I belive I have two pots.. one of £300k and one of £100k. If I then take £25k tax free out of the £100k pot,…
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Types of pension
Can anyone define the categories of pensions? I only have 3 :smile: Standard life workplace which is no longer active and has no fees except the fund fees. They said I can change it to a ppp if I want to bring in anything else (transfer in). Scottish widows workplace limited funds via Royal mail. Has a nmpa benefit which…
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Most recent: State Pension Forecast and Buying Years by DRS1
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