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Final Salary Pension Scheme - The end of....
Hi All, I'm currently in a Final Salary Pension which has approx another 4 years to go before it is up for review with the Company and Trade Unions. This was something which was agreed some years ago when the company advised they were wanting to close the pension svheme to employees but it was consulted on and remained for…
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been told i can't cancelled a pension is this correct ?
due to losing my job can no longer afford to pay in to my personal pension with standard life and don't feel will be worth it in the long run, when asked if could cancel and get money back was told this is not possible as it has to stay in a pension is this true ? would be grateful of any advice please ?
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Pensions: personal, SIPP, company...?
Hello, I've trawled through alot of the posts but I'm still slightly confused, can someone please help? I left my last company after 1.5 years and they've said that I can either take my contributions back as cash or move them to another pension - its about £8k. I want to keep them within a pension, but I don't have a…
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Pension help please
Hi, Up until April 2009 I have been in various jobs where I have been in their pension schemes. My last job was in a school before I changed to work in the same school but now work privately for a single pupil and his family. I get paid though a company thats deals with the family (His caseworker's company) but cannot be…
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House swap with son - tax implications?
i originally posted this on the Family Money thread but I think maybe it would be better here. Basically I have been thinking about a house swap with my son when he gets back to the UK in the next couple of years. I am semi retired but in good health and confident all things being equal of surviving another 7 years. What I…
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How much can I afford to spend in retirement?
Many of us are faced with the above question as we arrive in our sixties. As one (of many) who only have savings, some in pension (with the sole intention of drawing down money to live) and some elsewhere it seems very difficult to establish what level of 'income' one can live at and not in 20 years regret having spent too…
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loc gov pension the lump sum and rate of pension dilema
I would like some advice as i am taking ill health retirement at age 55 years from a Loc Gov Pension Scheme. I have a choice of whether to take higher rate of pension and low lump sum or lower rate pension and higher lump sum. I am inclined to take the higher pension of £19k but am concerned about the tax situation if I…
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General Pension Advice
I wonder if anybody can help me as I am having trouble getting my head around the general principles of pensions. I am 39 yrs old and currently have a number of pensions as follows: 1) Aviva/Norwich - as a result of opting out of SERPS - set up in the early 90's - I can't recall the current value 2) Zurich Group Pension -…
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Pension and Lump Sum
I may be in the position shortly of being able to take my pension and lump sum. I read somewhere that it is better to take as much lump sum as possible, even reducing your pension in exchange for cash. Can anybody confirm this and if so, why is it seen to be a better deal?
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Ros Altmann said private pensions are not a good idea for many basic rate taxpayers
http://iball.iii.co.uk/2009/01/30/iball-interviews-dr-ros-altmann What do you think of her opinions?
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Pension planning
Hi I’ve been giving some thought to my pension provision and would be interested in views. I’m 42, single with no dependants, self employed with a variable income but currently around £40k. I’m pretty financially aware generally but pretty sketchy when it comes to pensions and having been a lurker on these boards for some…
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Company Pension & Redundancy - Need Help
Hi, got a bit of a situation and have not got a clue where to start. I'm 23 and started my company pension last year. However, I was made redundant back in August and was told I have 2 options, take the cash at a considerably reduced level or move to a new pension. The date for changing is fast approaching and I have…
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doody60
Hi,I have a comps pension that pays the magnificent sum of approx £43 a month (I'm 60), but a pal who moved to Thailand, informs me that he sold his and received £25000 lump sum, Is it possible to do this here?
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The truth about pensions: it's not worth having one
http://www.moneyweek.com/personal-finance/the-truth-about-pensions-its-not-worth-having-one-46619.aspx "The truth about pensions: it's not worth having one By Deputy Editor Tim Bennett Dec 18, 2009 Is it worth buying a pension? Probably not. But you should still save for your future. Tim Bennett and John Stepek explain the…
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Lump sum at 50
Hi I need some advice regarding the rules which allow you to take your pension at 50 up to the end of this tax year, I have 3 pension plans with friends provident, standard life and pearl which add up to around 17k in total, I saw an article in the Mail on Sunday a couple of weeks ago which said that anyone who has less…
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Annuity
Hi im desperate for a bit of advise, i have recently lost my Husband and he did everything financial, My Husband took out an early pension to live on as he could not work due to terminal illness, The pension was with Axa, they would not let him withdraw all of it, as they wanted to leave some in for me on the death of my…
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Scottish Widows Pension scheme need HELP!
My father was registered with Scottish Widows some years ago with his old company, the company was found out and investigated as they were taking money out of the pension scheme and in the end the employers ended up without their money.. this was being investigated by Scotland Yard, but has you can imagine it takes time.…
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Higher Tax Band & Pension Contributions
Hi everyone. I'm 49 and being made redundant soon & have been lucky enough to get another job. I have been with my current employer 22 years and am in the fortunate position of a decent payout (should just about cover endowment & ISA mortgage shortfalls) By my calculations, my taxable pay for 2009/2010 will push me into…
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Is all my pesion taxed
I am soon to retire but I am unsure on the amount of tax I will have to pay, does it work the same way as when I was employed I have a tax code and allowance before tax or will all my pension be taxed. thanks pothole
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Section 32 vs Personal Pension vs Occupational Pension. The clock is ticking...!
Hi I (like many others I expect) have various bits of company pension schemes that I belong to from old jobs as I have been working now for almost 30 years but wont hit 50 for another 5 years. I also have a SIPP but it became paid up some years ago. Some 12 years ago, I became a consultant working through a HMRC-approved…