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NHS pension query - effect of reducing houra
Hi, Asking on behalf of a friend. She has worked full time as a nurse in the NHS since 1986 and is a member if the NHS Pension Scheme. She is considering reducing her working hours and is interested in how such a move would edict her pension? Are the 1995/2008 Scheme and the 2015 Scheme considered as separate schemes?…
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FA advice
Hi all...Newbie here so please be kind.. I have recently retired and I am looking to start taking my DC pension. My partner retired last year. My partner is in receipt of a DB pension of just over £16k pa and received a lump sum of £50000 which he has got in ISA's. Lump sum was part of the pension (civil service). Our…
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Top up pension or play safe with fixed rate bond
Hi I am one year away from being able to collect my state
pension. I have a pension pot only worth
approx £14,000 with nest and a mediocre job where my employers contributions
are only 3% the bare minimum. Employer wont match or increase his contributions so no benefit there ! I have around £30,000 that I was going to put…
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Higher rate state pension payment
As a retained firefighter prior to being allowed to join a pension scheme, I paid in extra National insurance contributions on top of my normal employment contributions. I was told that this would give me a higher rate state pension when I retired. I did not pay into a separate pension scheme with the fire brigade. This…
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Auto-enrolment Pension League Table
Auto-enrolment Pension League TableDoes this exist? I have recently been asked by a newly appointed manager (helping to setup a new business) to research which is the best auto-enrolment pension to choose for her employees to be (she is also an employee and not an owner). While I understand that is a complex question with…
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Forgotten Works Pension
I moved house and a had little works pension from 2006 possible till 2007 I had forgotten about it and the Pension Provider wrote to my old address but letters got returned I have found the pension details now albeit 17 years later. I contacted them and they told me my pension was closed. Am I still entitled to my money I…
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Transferring pension to SIPP and rapid drawdown for tax purposes.
My wife (retired and non earner - aged 58) has an old DC pension (Barclays afterwork) valued at £70k. They've just sent the options for her NRD aged 60. Annuity, transfer out or take the whole lot as cash. We are living comfortably on my DB and DC pensions, we also have significant savings in S&S ISA's. The idea is to…
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Sole Trader (Basic Rate) - SIPP - End of year tax relief help
Hello, I'm hoping to get some advice to help me understand the (end of year) tax relief offered to a Sole Trader on basic rate tax when opening a SIPP. I have searched extensively online and I can't find the answer, I have found conflicting replies hence this post asking for advice ------------------------------ As an…
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Retirement at 60, the plan:
I’m planning to retire at 60 in 3 months time. Here’s my rough intention:Needs: (excluding state pension): 8 years at 45k until state pension kicks in. 3 years at 35k until wife’s state pension kicks in. 25k thereafter. If I reach beyond 80, 40k from State, DB and Wife’s DB should hopefully be enough. Situation: 110k ISA…
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Hypothetical idea that is probably ridiculous
Due to my age, I am a number of years away from being allowed to access my DC pensions. I intend to take the full tax free amount when I can. Having seen how rules can change quickly, and that often those rules declare that if you have begun a process prior to some announcement date which can often be the same day as a…
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Possible appeal to backdate pension increase after paying top up NICs?
I retired at age 66 in June 2021. I have 40 SP qualifying years. During 19/20 and 20/21 my pension forecast was showing a message similar to 'year not full, awaiting data or still calculating data' I was moving and had several short term employed and self employed but not registered as self employed jobs at this time. I…
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Understanding fund timing and pricing
Hi, I recently opened a SIPP on interactive investor, I’m looking to buy some funds like VLS100 , when I checked the price, I see it gives a NAV. Is this the price I will get when I place a buy request on the platform? or do I get the next available NAV. Also I understand it takes a few days to complete the transaction,…
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Top up pension or leave in PB and cash ISA?
Looking for some advise please.Male 55, 40% tax bracket, debt free working full time house paid off.£230k in PensionBee from previous work pensions, I contribute £100 per month£50k in Premium Bonds£63k in cash ISA£5k in stock and shares (Not and ISA) with Trading 212Am I better paying a lump sum into my pension from either…
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Platform for trading UK Govt index linked gilts online
Some platforms don't offer them at all, others you have to phone up to trade. Are there any that allow you to trade them online? Thanks
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Which pension lump sum?
I need to access a sum of money from one of my pensions to help facilitate a house move/purchase. I have two Defined Benefit pensions and one Defined Contribution pension with Aviva that I’m currently still paying into at work. The amount I need (around £25-£30k) I could take from one of my Defined Benefit pensions by…
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Pension and retirement planning
Hi everyone, About two years ago I posted my situation and got some incredibly helpful and insightful advice that really helped me focus and improve my financial position – so a big thank you to those who contributed! I thought I’d post an update with my new numbers and see if the collective wisdom has any fresh…
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Switch pension from Aviva to ii
Hi, I have an IPP with aviva with everything turned off so it’s operating much like a SIPP now. I am thinking of switching to II because as the pension has grown the fees have become expensive and it looks like I could be saving around £100 a month on fees by switching to ii. I retired just over a year ago and I’m no…
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Optimum method of accessing a pension with a Protected Lump Sum?
I am planning on
retiring in June 2026 and my pension pot could reach the £1,000,000 milestone
by then. My plan was to
access my pension through a series of UFPLS payments but I have recently found
out that I have a protected pension lump sum with one of my pension providers. To make things
simple, assume that this…
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Workplace pension question
Can anyone answer a question please? If payment contributions by an employee are made via Salary Sacrifice (effectively appearing as payments made by employer), do these type of contributions benefit from tax relief? Thanks!
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Flexi Access Drawdown (FAD)
I have a question on FAD, sorry if this has been raised before. I have 2 pension pots Scottish Widows (private pension) NOW pension (current employee pension) I am 58 and still work When I reached 55, I took my full Tax free lump sum entitlement (25%) from Scottish Widows, the other 75% remains invested under the FAD and I…
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