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Managing impact of 2025 IHT on Pension pot
HI all, I am now of state pension age with a decent sum of money in a private pension. My plan was to leave the private pension invested long term to provide income to me and my wife and then on my death to provide benefits to my spouse and possibly son who are both named beneficiaries. However, the recent changes in IHT…
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Considering annuities
Again on the ongoing search for what to do for retirement income.....I am currently looking at the possibility of annuities. But am a bit confused. (previous - Ongoing search for a place for my pension — MoneySavingExpert Forum ) OK so the pot in question is currently about £136k which is up nicely from a year back. It's a…
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Tax relief on SIPP Contributions for Director
I am controlling Director of my Company. If my company makes contributions in to my SIPP (which it books as a business expense) am I still able to personally claim tax relief on these contributions in to my SIPP up to a maximum of £60,000 pa
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Old Pension move advice
Hi all, Just after some quick advice as to what to do with an old work pension. The company i worked for was looked after by Kier over a 3 year period who we paid a pension with into an Aegon account currently sat in a fund called: Aegon BlackRock LifePath Flexi 2046-2048 (BLK). It only has about 6k in it but i am unable…
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MyCSP - missing years/transfer out - could it be fraud?
Bit of long story but I have a classic and alpha pension,
and subject to the McCloud judgement, so my pension statements are pretty
complicated have changed a lot. As I’m in my early 50s I’ve started to pay
a bit more attention and questioned why my pension is so low. The answer has turned out to be quite simple, the first…
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Last minute indecision about taking defined benefits pension
I retire in July and apart from my state pension, all I will have as income is a very small amount from a defined benefit pension scheme that I had with an employer many years ago. My initial decision was to take a monthly income of £160 plus the 25% tax free lump sum of £15k up front and I've put that request in motion…
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Auto-enrolment
This year I was auto enrolled into an occupational pension by my NHS employer this year. I was not aware this was an option having already taken an NHS pension 7 years ago. I learned that auto enrolment has been around for years and there was an obligation on employers to implement this. Having been in my current job for 7…
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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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GMP and state pension
Hi I know this has been covered extensively in the forum but I can’t find a clear answer to my query. I don’t reach state pension age for a few years yet but I’m planning to retire soon. I’ve done a state pension check and it tells me I’ve reached the maximum and cannot improve on £230.25 a week in today’s numbers. On…
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Who can advise re LGPS and consolidation?
Morning all. I've currently 2 local government pension schemes. Pot 1 is deferred and I consolidated other LA pensions I had and another old work and private pension into it a number of years ago. I moved between 3 different LAs over 7 years so it's not a massive time I had putting money into LGPS. Pot 2 is a current LA…
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Pension Contribution With No Relevant Earnings but Higher Rate Tax
Hi, My pension income takes me up to the threshold for higher rate tax in Scotland. If I contribute £240 a month to my pension grossed up to £300 and if I then withdraw this additional income it will be over the 41% tax band. Can this additional 21% be reclaimed OR as I have no relevant income can I only get 20% tax relief…
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Higher rate tax and pension contribution question
Hello I'd like to ask a question to those out there who are a little more clued up than myself and my colleagues when it comes to higher rate tax, refunds and pension contributions. I have spent most of today trying to look into this, with little to no luck in finding the answers to the specific questions I am after. I…
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Is paying for additonal pension 100% not worth it anymore with Teachers Pension?
I continually buy £250 every year. Now age 40, want to claim everything at age 60, or defer claiming this APB pot I have been building to age 65 instead and take the normal pension at 60. (I have paid for 3 year buy out too) £250 APB. 1 year term, cost is £254 per month before tax, effectively £3000 £2400 in real terms…
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ReAssure Problems
I'm now 3½ months into asking to cash in my pension pot, two complaints, 14 attempts at contacting them, including two phone calls - the second of which they were more concerned about me dropping my complaint than dealing with the issue and I'm still literally at the same stage I was at the beginning of January 2022. I'm…
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Virgin Money: incorrect statutory money purchase illustration versus AS TM1 regulations
I've just had my first pension illustration from Virgin Money (dated 23/06/25), part of Nationwide now, after a number of years of having a pension with them - and it does not accord with AS TM1 v5.1, which has applied since 6th April 2024. C.2.16 states that 2.5% must be used for inflation, but they state they have used…
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£200 a month tax increase after getting State Pension whilst still working
My wife gets her state pension end June, she is still working. The guy that does the wages told her new tax code has changed to K55X and that she will be paying £200+ per month extra in tax. Her old tax code was the usual 1250 one Is this correct for a working person getting their state pension ? TIA Reidy
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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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Pension information
Thanks in advance for any replies . Does anyone know the timeline for LGPS to reply with a pension estimate. It was requested in Oct..24 . they then asked my company to request again in early March when they contacted asking for an update. This was a month ago, but I've not heard anything yet. I have emailed my company's…
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Pension details for someone with dementia
I am trying to track down details of pensions belonging to my mum who has been diagnosed with dementia. I have an LPA in place to allow me to take care of financial decisions but she cannot help me track them down as I need previous work information. She cannot tell me this, let alone the pension companies. How can I find…
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Carry Forward Query
Husband is 53. He earns 140k ish. Last year (with employer's contribution) he had 50k paid into his Aviva DC pension. This year to keep under 100k he needs his and employers contribution to be approx 63k. This would use 3k carry forward from 24/25. He also has a small deferred DB pension worth 8k pa at 60 which increases…
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Most recent: How long before your state pension increase actually comes through? by patchydoodle
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