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new personal pension at sixty
Hi I've just turned sixty I have a small personal pension which I am recieving a small income now, I am still at work self employed with an income , Thinking about taking a personal pension out now until I'm 65, Is this correct on the payments into the persion I recieve tax relief at 20%, At 65 I can claim 25% tax free…
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Is Salary exchange a good thing???
I am 36 years of age and have an annual income of £21000. My work have recently announced that they are introducing the 'salary exchange programme'. Is this a good thing for someone my age to do??? Thankyou in advance.
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IFA Fee for adding to an exisiting Pension
I have a quick question, I already have a Pension that my IFA setup for me last year that was a combination of several work pensions that I wanted to combine into 1. There was an upfront commission charge that was paid to him and also an ongoing 0.5 management charge applied per year. The Pension has performed really well…
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Would an impaired life Annuity be applicable?
Theoretical question.......... Husband has a SHP and is about to vest his pension Husband's health is fine/perfect Wife's health is poor, number of significant conditions If a joint life annuity was appropriate could the couple qualify for an impaired life annuity? Is it something that exists and could be based on the…
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Seeking similar cases for potential justice pension campaign
Any pension experts out there............. basically my mother received a pension forecast to advise she will be receiving only 19pence per week when she retires! THIS IS LUDICROUS! She was born in 1952 and worked continuously since the age of 15 to the present day. She married my father in 1971, She had 4 children and…
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Confused need advice nhs pension issues
Hi - I ma just 50 and have about 12 full years in the NHS scheme, having worked part time a lot. However i have been offered another job in the private sector no pension . I have just found out that it seems you can take your pension at 50 up to April 6 th s- I checked this with my nhs pension advsior who aid this rule was…
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Pension Coding notice and self employed
My husband reaches 65 just before the end of March and already has an annuity for which he has a tax code and he does not intend to work after April. I am thinking that it might be best to defer the government pension for a few months so that his tax is settled. We will do the self assessment as soon as it is available for…
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What pension?!
Hi I'm 27years old and in full time employment however not planning to stay with my current company as doing an open university degree to eventually become a teacher... anyway, i have no pension and don't know the best private pension to go with? To be honest I don't really understand them! I'm only able to put away about…
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Can I and should I cash my pension in?
I have a small pension from a job i had when i left school, its plan value is £3563.82 Recently my hours in my new job have become reduced and i am now on a debt management plan an i am struggling to manage my cash at this time. Can I cash this money in to pay off some of my debt. I have read the information from provider…
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Pension shortfall
I have full pension contributions, but for a couple of years (through no decision that I made) I was opted out of the N.I. scheme into a private pension. When I changed employment I was reinstated into the government scheme and my private pension frozen. Now that I have retired the difference between my private pension and…
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Deferred pension and what it all means
Hi I received a deferred pension statement. The pension was deffered in 2004 and these were the figures as of 2004. Annual pension £7800 per annum. GMP accrued pre 06.04.1988 £452 GMP accrued post 05.04.1988 £604 Excess over GMP t0 06.04.1997 £4658 Pension in respct of post service £2148 Revaluation of GMP fixed 4.5%…
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Pension as a mortgage repayment vehicle
Hi, if I have an existing company pension and then take out personal pension, do I have to 'cash in' both pensions at the same time? I'd like to use the personal one as a mortgage repayment vehicle to repay the capital portion of a mortgage about a decade before I officially retire. Basically I want to use the tax bonuses…
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British Steel (Corus) Pension
My husband was made redundant last year from Corus and has just turned 50. Does anyone know the best thing to do with a deferred pension in this case? Am I right in thinking he can take his pension early? :undecided
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Final salary pension, changing to part time
I have had a final salary pension now for nine years and presently work full time. What would be the impact on this pension if I were to change to Part time working please?
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Civil Service Pension - added contributions
Hi all, I am currently paying into a CS pension scheme, and will have 36 years of contributions by the time I am 60. I am wanting to make additional contributions and there are two ways I can do this - either by making extra contributions into the CS scheme, or by starting an AVC pension with either Scottish Widows or…
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Three Small Pensions, don't know what to do
Hoping someone can help, as the IFA I contacted did not seem interested, more interested in selling life insurance and the more research I do, the more confused I'm becoming. My husband has two company pensions and one private pension. He is currently paying into a private stakeholder and a company stakeholder, I'm…
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Pension Tax Relief
Hello Chaps and Chapeses, I'm after some advice regarding my pension contributions and tax relief. If I am a higher rate tax payer before any tax relief such as my pension am I still classed as a higher rate tax payer if after my pension deductions this takes me below the 40% threshold? My 'normal' salary is not in the…
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MSE News: IFA clients to get £7.8m compensation over poor advice
This is the discussion thread for the following MSE News Story: "Customers of independent financial adviser (IFA) firm Park Row are set to receive up to £7.8 million in redress after being given shoddy advice ..." Read the full story: IFA clients to get £7.8m compensation over poor advice
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Millions of pounds in pensions tax relief goes unclaimed
Guys you now have 1 month to claim back you higher rate tax relief for the last 6 years on your pensions. If you leave it one month the taxman is going to cut it by one third! http://www.telegraph.co.uk/finance/personalfinance/pensions/7253353/Millions-of-pounds-in-pensions-tax-relief-goes-unclaimed.html What do I need to…
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Offshore Investments
I have been living abroad for the last 15 years and have a regular monthly investment plan that is close to maturity. Can i take it to the uk as a tax free lump sum.