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Paying into pension whilst on benefits
Hi, New here. Please can someone tell me if there are any limits to how much I can pay into my private pension whilst unemployed and receiving benefits? Many thanks
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Drawdown time and going forward
I've recently reached state pension age and am now receiving the state pension. I have also put my pension account into drawdown to give myself a decent monthly sum to live on. The assets in my fund are split between equities, mixed assets and cash. I feel the need to review my holdings at this point to ensure that I'm all…
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SIPP drawdown and contribution timings
Hi. I'm unclear about the best order of events and looking for a sanity check please! HL SIPP balance is c.£7,400 in cash, eligible for drawdown later this month. No contribution for 2025-26 has been made yet. Would it be best to drawdown £7,350 ASAP, leaving a balance of just £50 to keep the account open (I believe £50 is…
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Platform allowing management of crystallised and u crystallised pots
Any suggestions for a platform that allows sensible management of crystallised and u crystallised pots as separate entities? My current plan was to use separate platforms and I have tried to transfer crystallised only from II to Charles Stanley but currently neither platform can actually tell me if this has happened as…
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Winding up lump sum offer
Age: 63. Self employed with SIPP. Pension from previous employer from 6/4/1980 to 31/01/1986 as a student on summer placements. Deferred benefit: £522.84 per annum. From 1/4/2027, not available before then? Received a letter from the administrators to offer a winding up lump sum of £7107, of which 25% or £1776 is tax free.…
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Avoiding higher rate tax
I would like to check my understanding of tax and pensions using a real life example: Simon receives £50,000 of pension income each year (£26K p.a. DB and £2K p.c.m. drawdown of DC).This brings him very close to the 40% tax threshold.He has already triggered the MPAA. Simon has potential to earn up to £10,000 per year…
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USS - best options when a terminal diagnosis is received?
Hello A friend has a terminal diagnosis and is seeking to maximize their USS pension. Does anyone know what the potential options are because time is limited. Thank you.
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USS benefit modeller accuracy around the 'cliff edge' before 60
I have a query around the USS Benefit Modeller and its accuracy in the Defined Benefit projections before and after age 60. I am looking to retire from my institution around age 60 (Nov 2026) and am using the Modeller to gauge options for leaving either before 60 in summer 2026 (I have concerns around getting the push at…
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Late husbands COD payment from Pension Provider
I have a letter from HMRC advising of small weekly payments due to me from my late husbands private pensions. One was a company pension and I am receieving the 50% widow benefit which I believe includes the COD amount. The 2nd pension was only guaranteed for 5 years and they stopped paying it some time ago. - Needless to…
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25% Tax Free, DB crystallised and Transitional tax free Certs, 2016 Protection
Appreciate I might need formal advice on this but at this stage Im trying to establish if I do. Im lucky/worked hard successful career, invested wisely in SIPP as well as have DB pensions started 10 years ago. Took out Fixed Protection 2016 in 2018 given growth in value of invested funds in SIPP. Started taking benefits…
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Fidelity expecting a rush on TFC payments?
Spotted this on the Fidelity website: I wonder whether other SIPP providers will do something similar?
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Pension switching from Relief At Source to Salary Sacrifice
I am a higher-rate taxpayer and currently contribute to an employee pension scheme operated by my employer under the Relief at Source model. I try and maximise my pension contributions to reduce my exposure to the 40% income tax rate and to mitigate the impact of the child benefit income threshold. Each year, I complete a…
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Contracted out element
Apparently I was contracted out in 1964. I paid into a company pension for 2 years then left the company, I returned to the company 6 months later but didn't rejoin the pension scheme. I left in 1994, only now at the age of 91 do I realize that I don't get a company pension yet still have £6.38 deducted from my state…
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Consumer duty and workplace pension
Hi, Has anyone any experience or knowledge of complaining about pension scheme fees and terms and conditions under the new (2yo) consumer duties? I've seen multiple cases upheld about poor administration, but not around t&cs / fees. My situation is that I have a fairly old Aviva workplace pension with a limited choice of…
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Can a 16 year old join work pension scheme?
Hi. I’m new to the forum so I hope I’m doing this correctly. My soon to be 17 year old son has a part-time job with a well known craft supply retailer. He asked if he could join the pension scheme and they said he couldn’t. His core contract is for 12 hours per week at £12.21 per hour. He also does some extra shifts during…
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State/private pensions
Hi, When both of my parents have died what happens to their pensions do they just stop? Thanks
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Paying SIPP charges
Does anyone know if I can pay charges from a personal bank account when the SIPP is funded from a business (limited company) account ?
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Using carry forward
Hi, I’m planning to deposit my unused allowance (carry forward) from last year into my SIPP before the upcoming budget. I have a couple of questions: * Will I still receive 40% tax relief on the carried-forward contribution? * There are rumours that tax relief could be changed to a flat 30% rate in the next budget. If I…
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How long should a draw down payment take?
I've decided to crystallise all my remaining uncrystallised funds in my pension and take the tax free cash (about £120K). How long should I expect the process to take from notifying my pension provider to the cash being deposited in my bank account. This isn't my first crystallisation so all the essential details should be…
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Drawdown @ 55
Hi I am just seeking some advice regarding making a drawdown on my private pension. I reached 55 in January and I am wondering if need financial advice to draw on the pension as I think my provider states that if I drawdown the rest of the funds need transferring? Is this something people are confident to manage…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: Voluntary NI contributions cut off 2025 by Silvertabby
19 December at 7:04PM
