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Pension pot tiny at 52
Hi - I’ve had some rubbish years, raising disabled kids, taking redundancy and basically any money we’ve had has gone on the house, bills, illness despite earning decent ish (I earn £29k). Still a mortgage on a tiny 4 bed. can’t downsize (it’s not worth a lot, south east, kids all live here). Husband is 65 and I can’t…
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Now I've retired, trying to decide if I should pay anything more into my DC pension this tax year.
Good morning all. As I've posted elsewhere in these forums, I retired with effect from 30th September this year at age 56. Based on the following figures, if I decided to pay anything more into my SIPP, what would the maximum amount be? Tax year 2025/2026Gross Salary - £24,968.34 (only worked 6 months of this tax…
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A.I. Check
Has anyone else done the same as me? I suddenly thought.. 'I will put all my financial details into Chat GPT and Gemini. ( Everything Cash, ISA's, Pensions, Premium Bonds etc What my risk level, age, etc My thoughts / plans etc etc etc And then asked it for the most logical way to use my assets in retirement. The results…
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SIPP contributions and whether a self assessment tax return is required
Very grateful for opinions on the following please. I would like to open a new SIPP in January 2026 but am unsure whether a self assessment tax return would be required for the year 6th April 2026 to 5th April 2027. I'm going to use a simple example to illustrate my question: Gross salary (after employee pension…
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Non Regulated Advice
I am happy with my investments and want to maintain control of my own financials. I completely understand, and respect the fact, that this does not make me an ideal customer for an IFA. I enjoy doing my own research and, at 64, have a pretty clear view as to what I should be doing in terms of retirement/estate planning.…
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Pension forecast
I tried getting a pension forecast online. Filled everything in, put passport details then it asked for another form of ID as well, which I don't have. I didn't want to ring so I printed out the form and sent it off on September 12th. Still waiting. Does it normally take so long ?. Thanks
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Die with Zero by Bill Perkins
Having read this book, I'm a big fan of this approach i.e. die with zero! Here is how we've implemented it. It's not for everyone and takes a leap of faith but can be done. Some of our friends think we are crazy. Time will tell. https://www.diewithzerobook.com/welcome This may have covered before but basically it's saying…
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What to do with all your time?
I thought it might be interesting to get some perspectives from the hive mind here running: might help others. We all know that those who have bitten the bullet almost all wonder how they had time to work, but perhaps this thread could give others ideas? Not wanting to focus on the financial aspects - most threads here do…
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Civil Service Alpha Pension and SIPP - How much can pay into SIPP this tax year
Hope someone can help as just can't seem to get a clear answer on this one. Wife and I are looking to retire in couple years, wife is 48 currently, so for the first 7/8 years our funds will come from my pension. We are wanting to maximise her pension payments for our final two years, so usually no problem to work out what…
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Problems with the app Itsme
I wrote a while back as I had problems installing Itsme to access my files on mypension.be. I have managed to install it but am encountering issues logging in. Two choices. 1. Logging into mypension by scanning a bar code. Itsme should open at the same time but it doesn't. 2. Using my phone number. Then it asks me to prove…
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Flexible drawdown
Hi, if you have flexible pension drawdown can you take your tax free lump sum spread over a number of years? so for example you could take your personal allowance of £12570/year and say top that up to £15000 for that year using part of your tax free lump sum, so basically not having to pay tax for that year. Or have I got…
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Annuity Interview question.
Just a quick question.Now The Glorious Day has finally dawned, I want to convert my small free standing pension pot into a lifetime annuity.My provider insists on an interview before they can act (I just want the maximum monthly payment for the rest of my life- give it to me now! :) ), and I need to have my height weight,…
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Civil Service 'Classic' and early retirement (pre 55)
Hello everyone I am looking for any experience / advice on leaving pre 55 based on a current (scheme year 24-25 and scheme years 25-26) period of higher earnings due to a temporary promotion. My classic length of service (post McCloud judgement) will be 28 years 171 days and I am a Classic member. So my pensionable…
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LGPS Strathclyde Pension Fund - should I expect communication?
I have a deferred final salary pension with the above which I want to start taking on 31st January 2026. I filled in the deferred options pack and emailed it to them on 18/10/25 (because they said they need 3 months notice). I asked them to acknowledge receipt, which they didn’t do, but it’s showing in the online portal as…
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Pension Credit Guarantee Credit
I received A letter in Jan 2025 from DWP saying that from April 2025 my Pension Credit will be such amount, the last amount i received had decreased, why would that be?
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Gilt Ladder In Pension Fund
To diversify my portfolio a bit more I'm investigating building a gilt ladder. I have no need of this money within the next ten years since I "pay" myself out of cash that I hold in the SIPP and my MM fund. With that in mind, would a ladder be a bit redundant and maybe should I just split it across T31 and TR32 with that…
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SIPP holder dies at over 75 - just checking my understanding
Evening all, I’ve had it confirmed (by my SIPP provider) that if I ‘pop my clogs’ after age 75, then my SIPP beneficiaries (some of whom are resident overseas and non resident for UK tax purposes) would not have the option of receiving their share of my pot as a (drawdown) beneficiary SIPP; instead they would have to take…
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Workplace Pension
Hello all, due to arthritis I am unlikely to work again between now and collecting my pension in 6 years' time. Is there any way I can cash in a couple of small pensions and avoid paying tax on the 75%? I will have no other taxable income, and my thinking is that if I cash them in over the next three tax years but make…
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Gilt ladder in SIPP - some not availiable gilts in platform
I am researching setting up a conventional gilt laddder inside my SIPP (as an alternative to taking a joint lifetime annuity). I have been using the excellent tool at https://lategenxer.streamlit.app/Gilt_Ladder. Unfortunately when looking at the individual gilts needed to implement my selected choice of income, some seem…
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Topping up my SIPP using unused allowances from previous 3 years pension contributions
I have received a small inheritance & I hoped that I could use it to top up my SIPP using the unused pension allowances from my last 3 years of PAYE & SIPP pension contributions. I earn £20K/a and I know can only top up to that amount this year, but I have more to invest so checked the HMRC website: You will not be taxed…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
727 discussions
6.3K comments
Most recent: Voluntary NI contributions cut off 2025 by Silvertabby
19 December at 7:04PM
