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Pension. What to do next??
Hi Everyone. Im a regular user of this site bit never posted so im hoping someone can push me in the right direction. At age 18 (39 now) i took out a personal pension and opted out of serps. I had no idea what this meant as work colleagues did it for me! I didnt pay alot in to the pension. I joined a company scheme in 2005…
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how to value a paying pension?
i like to chew over numbers and i was wondering if anyone can give me a valuation of a pension that i am currently being paid--its 7500pa indexed linked to inflation and i am 47---is it as simple as multiplying my 'hoped ' for life by its amounts payable?
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Pension lump sum tax?
Can anybody advise me please? I'm 52 years old and have been offered the opportunity to take my pension from a previous employment - as long as I do it before April 2010, after which I can't take it till I'm 55. I don't want to take it - I'm already in the 40% tax bracket so my monthly pension would be taxed at 40% too.…
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SSAS Provider
Hi I have been looking at transferring my pension into a SSAS and have been speaking with a company called Pension Practitioners. Has anyone had any dealing with them? Also I are looking to use some of the money to complete an overseas property purchase. Can I use my SSAS for this? Any info would be greatly appreciated…
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gifts from inheritance
Not sure whether this is the right place to ask this or the benefits board. Anyway my mother will soon inherit about £80k. She currently is on basic state pension which is topped up with pension credit. Having the savings will therefore reduce the pension credits. Is there an amount you are allowed to gift? (although to be…
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Stakeholder pension/change of job
Hi guys, I'm sure this is a stupid question, but I know very little about pensions... I have a stakeholder pension that I contribute to through my salary, and my current employer also contributes. If I change jobs and want to continue payments, can I continue to make payments either myself, or through the new employer's…
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Age 50-Option re Early benefits.
My wife has received correspondence from a previous employer final salary pension scheme (Booker-she previously worked for Iceland/Bejam). They are looking to provide greater predictability to their future costs of the scheme by offering an early withdrawal option now my wife is 50 rather than her wait to NRD at age 65. 1)…
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Should I start a new pension plan?
I'm a 60 year old female who recently took the state pension. I'm still working but I'm not sure for how much longer. When I retire I will get a small NHS pension. I recently saw a financial adviser who recommended I put the state pension and some of my savings into a new pension plan. Is this a good idea? I also have an…
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Pension and tax 60 to 65 years
Hi Please can somebody clarify something? What is the tax situation if I took my teacher's pension at age 60 (normal age for taking it) if I don't get my state pension until I'm 65? Perhaps what I'm asking how would I be taxed between the ages of 60 and 65 when I get my state pension?
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25 Year Old, where to start?
Everyone is telling me to start a pension. I've no idea if I should or not :think: I'm 25, have some credit card debt (Circa £4700 all at 0%), a 10k student loan getting paid back at minimum rates and a gross income of £24,000. I net £1450 PCM. Currently I'm paying £300 a month to my cards, £100 a month to premium bonds…
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war pension where to????
Hi, I would like to put away every month my war pension, its currently around the £125 figure, I would like to put it away for 25 years. Anyone a good idea of where is best to put it for this period? I do not want to touch it. Cheers Jay:T
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About to retire
I'll be calling it a day at the end of June and will have to sit down with my IFA to discuss my options. I'll have no taxable earnings in the coming tax year thanks to my employer's generous offer to make me redundant so will be looking to take my tax free lump sum and go into drawdown (my fund is worth about £1/4m…
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Self Employed
I am Self Employed aged 56,and will be relying totally on the state pension.I am not in a position to invest from my current earnings,as like a lot i am suffering with the recession. The only exception to this is,that i have £11000 sitting in a ISA paying 2.5%.Am i making the correct use of this money or would i be far…
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Additional State Pension Question
I've recently received a state pension forecast. This shows that I can expect a full basic state pension (I have well over the 30 years contributions needed for my age). However it also shows a small amount of "Additional State Pension". Reading the booklet I can't understand why. I have been self employed for the bulk of…
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Falling pensions
The fall in return from a 20 year £100 a month pension contribution is a staggering 72% over the last 10 years :eek: Habitual Fool readers will know that the Noughties proved to be a lost decade for stock-market investors. Alas, the blue-chip FTSE 100 index fell by some 20% from 2000 to 2009. Even after adding dividends…
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IFA costs for pension advice
I've had 5 x 90 minute meetings with an independent financial advisor during the last 6 months to review ISAs and organise a personal pension. I have invested in an ISA recommended by him and he has been paid commission. The last meeting I had with him he presented his pension proposal. He recommended Scottish Life and…
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Voluntary Severance
Hi all Quick query - the Univeristy i work for has offered this to all staff in a bid to make some savings :rolleyes: Only info i have on this is as follows -The Voluntary Severance package is a year’s salary incorporating notice and annual leave - Deductions will not be made in respect of National Insurance, or pension…
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dont know what to do
hi all is there anybody out there who can help please . i have just passed my 54th birthday i opted out of the state pension 20 years ago i used to be in a company pension but they was getting rid of the final salary pension so i took the money can you tell me please is it worth staying out or opting back in the state…
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pension queries from the confused
I am a real beginner with pensions - not the first idea. I've been reading about pensions but I have some queries. I haven't paid in any qualifying years yet and won't be able to till I am 30, does that mean I will have to pay 15% of my salary for the rest of my working life to get my qualifying years up? That sounds a lot…
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Retirement Planning
Hi All, as i approach my 23rd birthday it dawned on my that i do not have a retirement plan. i was looking for help and advice on how to invest what money i have and where to invest it. i currently earn £17,000 pa and am aged 23 i was looking to invest in the region of £100-£200 a month in a retirement plan. could you…