Pensions, annuities & retirement planning

Hi, After doing some research on how much i can contribute this financial year into a SIPP and have received varying amounts, Different AI's and search engines are giving me different answers!! For context, my annual (contractual) gross salary for 26/27 will be £16129, Tax code 1088LX my pension contributions (LGPS) are…

hello, just asking as have had different discussions lately to get me questioning… My wife's NI years are 5 years short atm. with all scare stories of a means tested state pension, is it worth topping up the black hole? any advice or theories gladly appreciated. All she has is a 10k per year nurse pension and she is 58 and…

Following earnings data published today we know that subject to a possible minor adjustment in October (see below) the triple lock state pension increase for April 2027 is likely to be based on the average earnings increase figure of 3.9%. This would mean the headline new state pension figure would increase from the…

I am due to start receiving 2 DB pensions in January totalling approximately £240 after 20% tax is deducted. Am I allowed to increase my workplace DC payments from 16.5% to 25% from January (although I am thinking from my December pay-packet)? This would mean I have cumulatively the same net income whilst boosting my…

I turned 60 in August and still am yet to receive a new calculation due to GMP. Is this normal? How long would anyone think is a reasonable time to wait?

hi guys i had an email from SYP saying this Good Afternoon I am writing with regards your recent Annual Deferred Benefit Statement We have identified that your statement does not include all of your pension membership, which means the benefits shown on your statement are incorrect. We are working to correct this and, once…

My wife has a classic civil service pension payable from 60 she worked 15 years leaving in 2012 and is now 55 and working outside the civil service. I know there may be tax implications but can she carry on working post 60 and claim and receive her civil service pension?

hiya, I've been reading up about how it's wise to get out of AI. My sleuthing has led me to believe that I should get involved with funds that deal with companies that can pass on any price increases onto their clients, eg staples..Or something that shouldn't crash, eg farmland. I've been looking through the fund options…

everyone including Torsten Bell says the minimum contributions to a workplace pension is 8% of qualifying earnings , but the DWP and TPR do not agree with this , they say the minimum is 9% of basic pay under set 1 rules so with a legal £1 basic pay and £29999 in commission and overtime , they say the contribution is 9p…

When Martin recommends saving a percentage of your income that is half your age when you start, is this a percentage of your total gross income or just that part above the lower earnings limit of £6240? I ask because if you tell your employer you want to contribute, say 15%, that will not be taken as 15% of your gross…

10 year targets are set and I'm aiming high and dreaming big. :) A bit of background. When I was young I grew up with a family of 4 children, Dad worked and Mum stayed at home. We had very little material things or new clothes and I remember I was always dreaming of how I could possibly become a millionaire. So why not…

Hi All, Looking for some views. Current situation is that I have two Scottish LGPS pensions that are currently active. First one is part time that started in 2007 that would pay £12,000 ish, yearly, if taken today, with lump sum of £3000. I plan to leave this employment in the next two months and so it will become…

Hi all hoping for some advise. I have 2 Aviva Pensions and currently age 41. Ex Friends Life pension. The fund is a risk 3 of 7 and a Aviva Global distribution AP. (Very poor performing) Aviva 40-85% fund . (This has a 55 drawdown benefit) Im concerned that the Ex friends life is of very low risk, has 30% Equities and a…

My wife died in June, leaving a SIPP. She'd completed an expression of wishes which nominated me as the first beneficiary, and our two adult children as secondary nominees at 50% each. I appreciate that nominations are only guidance to the SIPP trustees who are the ultimate decision-makers. The managers have agreed that I…

My employer has given all staff a half month bonus in their December pay. However December pension contributions (employer and employee) and based on 1 month, not 1.5 months. Is this correct? Is it the employer's choice whether to include the 0.5 month bonus in pension calculations? We use qualifying earnings for pensions,…

Hi all, I've previously done a thread like this a year or two ago and enough has changed since then that has prompted me to look at everything again. I'll give a brief overview of the current financial situation: Age: 50 Salary: £62k (wife also works P/T earning £1k per month) Home - value around £420k with a mortgage of…

Good Afternoon, I have just received a message from my niece who has asked me to help her understand the workings of a personal pension. She is a non-earner due to health issues but is keen to start her first pension. So her contributions will only be £2,880 per tax year until she is able to make additional contributions…

Ha ha - this did remind me of one or two of the threads I have seen on here… Daily Mash - I'm 45 with £900,000 in my pension…

Inside the (deliberately) obscure govt 'shadow' finances the 'SCAPE' rate is a construct based on an estimate of the long term growth rate of the real economy. The govt assumes that money notionally set aside for public sector pensions will grow at this rate. Recently the OBR decided that this rate rather than being an…

A smorgasbord question for those who planned retirement and have retired. How well has your actual expenditure matched your modelling? Did you use your expenditure just prior to retirement to estimate your retirement expenses? I understand most research indicates that people spend a bit less, but similar than…