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Can I still contribute £2880 per year once I'm retired, if I'm taking other taxable income
Good morning everyone. I retired at the end of September last year. From 6th April this year, I intend to start drawing down from my pension to tide me over until I reach state pension age (currently around 11 years away). Even if I'm taking taxable income from my pension, can I still contribute £2880 per year into my SIPP…
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HRP
My son was born in 1985. I went abroad (non EU country) in 1986 with my son to accompany my husband who had taken up a job there. My son and I returned in 1996 and my son started school in the UK. My NI record does not include the years 1985 to 1996. My State Pension started last year and I do not get the full amount. Am I…
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Searching for critical mass
I wanted to send this out as a pulse check to see if we are on the right track, generally, and if there is maybe other things we should consider. Married, 2 kids, just turned 40. My partner and I have £390,000 invested across ISAs & pension. Combined we are putting away around £2500 a month into these, and mainly into…
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New Capita-run Civil Service Pension Scheme - problems (what a surprise!)
So, Capita have taken over the admin for the CSPS and their new website and members portal went live this week. I have just registered on the new portal and am not in the least bit surprised to find that the information available on the new portal is very scant and incorrect in terms of my length of service. With…
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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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Help with transferring defined benefit cash balance scheme
Having turned 60 with Royal Mail I have to take my first pension with them (I have 2 more with them) I have 2 choices:- 1, take the money and pay tax. 2, transfer the money to another provider. I wanted to do option 2 and transfer it to my Royal London pension but they won’t do it without a financial advisor. I don’t know…
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CS Alpha -
I am trying to understand a number of questions with regards to my Civil Service Alpha Pension. My quandary is do I take my pension at 60, which means there is a reduction for every year before my NRA (67) if I do, or defer it until 67. Also if I do take it at 60 am I wasting money by continuing to keep overpaying into it…
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What happens if you straddle pension age increase?
On 6th April 28 minimum pension age increases to 57. My DOB is Oct 71. If I start accessing a DC pension from Oct 26 (age 55) can I continue? Or on 6th April 28 (age 56) will there be limits on how I can access my pension? What are the guidelines? I'm thinking I would be able to access crystallised funds in a drawdown…
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Tax year end 2026 is a Sunday - Easter Sunday
For anyone planning to make last minute contributions to a pension, ISA or whatever where falling into the tax year 2025/26 is important, and hasn't yet clocked the fact, 3 April is Good Friday, 4 April is a Saturday, 5 April a Sunday and 6 April Easter Monday. Paying a little earlier than you might otherwise have in mind…
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Soon to retire - how to take my saved money
I am 66 and will be retiring at 67 in a few months time. I am already benefiting with a full state pension. I have a very small NHS DB pension of £700 per year. I have £80K in savings , 60 in ISA's rest in fixed term bonds. I have 2 DC pension pots , £600,000 and another will be £12K. I am a saver but I want to spend the…
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Messy pension contributions
Good morning. Could someone please advise what's the easiest way to check if my current pension pot would have been higher if my contributions were being added on time? My employer had some delays with sending contributions last year but on top of that the pension provider had a disastrous, non working processes for nearly…
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Why is HMRC giving me a tax allowance for 26-27 for SIPP now 75
Says it all in the title really. Doesn't the Gov know that I cannot contribut AND get tax a;llowance once 75???? Not really expecting any comment.
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Tax treatment on starting drawdown from SIPP
I appreciate this question will have been asked here many times before, but I wanted to find out how the tax will be handled when I start drawdown from my SIPP (held with ii) in April. I’m self-employed and still earning but only around £15k a year and I plan to take £12,570 a year (the tax-free allowance) from my SIPP -…
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Private Pension Company - Drawdown - Is this correct?
When I started my application to drawdown 25% (tax free) from my pension, it was early Feb, this year. I was assured the process would take 2-3 weeks and funds would be in my bank account. It's now 7 weeks and I have a concern having received the following Friday afternoon last week: '… the speed of the actual bank payment…
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LGPS - BUYING EXTRA PENSION
Hi, If i was to buy extra LGPS pension of 2k (A surplus after AVC TFLS) will the amount of £132.98 from the LGPS calculator be a monthly or annual amount? I am taking VR aged 59, will that make a difference to the figure? Thanks
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USS - best place to start?
I've relented and if I want this sorted…… so I need to start from scratch and learn fast and have a longer term plan than just year to year. I have taken a couple of days off to try and sort the families finances for the longer term. Having asked for years when my OH plans to retire, he has no idea & doesn't want to /…
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Transfer advice Barclays afterwork into LGPS?
Hi, first ever post after searching for information….. My wife is age 47 and has a deferred pension with Barclays afterwork which we are considering transferring into LGPS - she is in her first year working for the council so is enrolled in LGPS. She has obtained a transfer value from Barclays of £75,000 which is £50,000…
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Capita Data Breach/Barings
I’ve just had an email from (Removed by Forum Team), Head of Data Breach at Barings Law advising that he is moving to Abbleys Solicitors and taking the Capital Data Breach case with him. Has anyone else received this? Wondering what the implications of this are? Thanks
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DWP-sympathetic but unhelpful
Question… If your pension forecast is not a guaranteed figure, how do you know how much you will receive before committing to your pension invitation letter, and does it matter I have just come off a phone call with the DWP trying to explain my dilemma. At the beginning of last year my forecast was for me to receive the…
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Pension advice
I am 63, self employed and already receive a local authority pension. Can I still pay into a sipp and, if I can, how do I receive my pension relief? I intend to stop working in a couple of years so is this worth it or should I just continue to save in my ISA? Would welcome any thoughts and advice.
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Most recent: Gaps in National insurance contributions by molerat
12 March at 10:53PM
