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Paying the most I can into a pension - daft idea?
I am in my 40's and currently pay most of my salary into my pension. My thinking is that it will then have the greatest amount of time to grow. I don't know anybody else who does this though and wondering if I'm missing something and it's not a good idea?
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small pot query - SIPP now uncrystallised if small pot taken
Hi, I am doing a small pot of £10K this year (and plan on one next tax year and final 3rd one the year after that). I transferred from Vanguard to HL in October last year in planning for this. My SIPP with HL is essentially static in that I no longer do monthly payments in (focus on employer DB AVC). Current value fairly…
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Using claimed LGPS pension to pay in to new SIPP
Hi all, I'm nearly 60 and about to start receiving an LGPS pension from a previous job I was made redundant from. I work somewhere else now and I'm paying into a separate LGPS pension there. As my income will increase once the payments start coming though, can I use more of my salary to start a SIPP? I know there are rules…
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Interactive Investor - calculation of 25% tax free cash when holding Index Linked Gilts
In common with many platforms, Index Linked gilts are shown in my Interactive Investor portfolio value at the clean price. Obviously, the market price is much higher. When I come to take out 25% of my portfolio as tax free cash, do the Index-Linked gilts get uplifted to the current market price in determining the value of…
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What way to go?
My wife is 63 and currently working as a teacher and looking to retire next year when she’s 64. She has 2 pensions, 1 with TPS and the other with HBOS, and she has a multitude of options as to which way to jump with her pensions – TPS – Pension of £23683 and TFLS of £33,322 OR she has the option to buy an additional lump…
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Small pots question
I used the small pots method , to close a fidelity sipp in May. The balance was £8575.73. Tax free was £2143.93. Tax paid on the remainder, £1286.20. Therefore paid to me, £7289.53. Two questions. I'd assumed this would close that sipp . Indeed, the balance reduced to zero, and the final letter states, Your account is now…
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Need a reliable IFA (for sourcing an annuity only)
As per the above, I'm looking to take out a lifetime annuity and struggling to locate a professional who can help me to understand the options and get a suitable "deal". I've used Unbiased, but initially they only suggested tied IFAs (tied to specific products, not completely independent). They then sent me a link to a…
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SIPP experts! I'm struggling between LGPS APC and Vanguard SIPP
Hi, I'm nearly 60 and I want to give my pension a final boot up the backside. However I'm not sure what route to take and I'm hoping you geniuses can help... I'm paying into an LGPS DB scheme which I'm planning to continue as well as maxing out my AVCs before retiring in five years. I will have around £1k a month left for…
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Pension credit under immigration control
I’m trying to help an elderly friend of mine get some extra income. she’s from Canada and been living in the UK since the 60s but doesn’t have British citizenship. she has state pension of about £100 a week. she applied for attendance allowance and received a letter back saying she wasn’t eligible for that due to being…
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The Planning Crowd / Simpler Law
I have had my will and POA with these people for 5 years. I received a call to say I was due a review; after the review (which was more like a sales pitch) I was told some changes would be needed to my will, The cost would be £3600 approx. and that is with a 20% discount: there was also a document storage fee of £18/…
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Get your State Pension: working/living outside the UK
I’m presently trying to claim my state pension, but having difficulties with 2 of the questions on the .gov.uk ‘Get your State Pension‘ form which asks about working/living outside the UK. I have lived and worked in the UK for the last 37 years and I have 44 years of full National Insurance Contributions. I did however…
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Aegon Scottish Equitable -unable to get money out
Hello, I am new here, and perhaps someone can help me or share their own similar experience. I've been trying to take money out from my pension pot for months. I made an ill-health
claim that was accepted in August 2024. Since then, it's been a succession of
incorrect quotes, missing documents, "we-need-more-time" type…
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Increase to Minimum Pension age from 55 to 57 on 6th April 2028
Latest position:24th February 2022: The Finance Act which contains the legislation making the change receives Royal Assent. Discussion of this starts from page 22 at this link. Most pension schemes have not yet made clear whether they are protected or not.…
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Section 32 buyout policy - changes that stop ability to drawdown on enhanced tax benefit
I have a section 32 buyout pension with Aegon which has enhanced benefits. I received a retirement quote on 27 May 25 with three options, the option I wanted was to collect the protected enhanced tax free lump sum and then move the balance into a flexible drawdown. I spoke with them today to arrange this and was told this…
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Pensions, Tax and debts....how to best make my money work
Hello all. Newbie here. I've trawled through the forum to find answers but none have hit the spot. So for context I have the following pensions to date:- Ukaea final salary DB from 1997 - £10k lump and £4.5k per year payable at 2032 Pension Bee (combo of old DC amounts) - £60k Current Ave Salary DB with the medical reserch…
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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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When your pension has closed
Hi, My final salary pension was closed in 2015 for anymore contributions. I carried on in the same position but the company joined other companies to become a new one, and I then paid into a new defined contribution pension with a different company. I just had a random email from the final salary pension asking if I still…
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Tapered pension contribution
Hi, I’m trying to understand what is permissible as my husband has received a payrise (via a long term incentive award), where he will receive shares that vest over a 3 year period. We are obviously delighted & I’m trying to understand the impact on his pension contributions. His current arrangement means that his…
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Trustee Proposed S32 Buyout Policy (Aegon)
I’ve finally managed to get my brother to review his pension
position; 3 years before he’d like to retire, and we are in the process of assessing how he wants to take retirement income and potentially consolidate some / all of the numerous pensions. He has a policy (as above) and I just want to check my
thoughts regarding…
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Finding an annuity
Afternoon, all This question is prompted by another, recent thread. I have an initial meeting with an IFA later this week to start the ball rolling to purchase an annuity. I’ve done my due diligence, and the firm / individual appears to be suitable for the job. My question is, assuming we get as far as a product…
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673 discussions
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Most recent: CF83 - when the reply comes, how much time is given to pay? by Silvertabby
Today at 3:06PM
