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Small pots to maximise use of 0% tax band
Hi I've been pretty successful in getting most of my redundancy (taxable bit) into my pension via salary sacrifice whilst meeting NLW requirements. As a result I have only earned £9,760 taxable this year and my employer has contributed £45,623 to my pension. Since I have the time to do the admin I think I can contribute to…
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Keep AVC or take the money and run?
I have a smallish Teacher AVC of a predicted £16500 ( which I am very grateful for), It is due to mature( not sure if this is the correct word) in 6 months. I'm thinking of taking all the money but have noticed its predicted value seems to have gone up a lot in the last year, a fair bit more than if I put it in a savings…
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HMRC National Insurance Record - Year not Full
I've been looking after my wife's Self Assessment since she became self employed. I've always done them as soon as they arrive and paid them pretty promptly, I've never waited until end of January. Looking at her NI record, 2022-2023 says Year is not full We are checking this year to see if it counts towards your pension.…
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Pension draw down difficulty as an expat
I have a large private pension in the UK. I reside abroad. HMRC are aware. My issue is my pension provider, who will not make any payments into a foreign bank account, only British. Has anyone experienced this problem, and if so what was their solution?
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Home responsibilities protection
Hello all. My wife started receiving her state pension in November 2023. Prior to this, and on Martins advice, she checked her pension forecast which showed that her N.I. contributions were showing a shortfall of 2 years, one of these years was to look after her first child. This meant that unless she " bought " those 2…
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Access to pension at 55 - mitigating against govt min age changes
I'm just about to finalise a settlement agreement which will cover me financially until 55 (Sept '25) when I can draw my employers pension if needed at that stage (a pot c.£1m giving me £250k tax free option) Given the talked about changes to min age is there any way of protecting myself against this (other than continuing…
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Leave in drawdown or move (slowly) to ISA
Question for hive mind. Sometime next year 2026/27 will fully retire (especially if redundancy package offered) and will take what I can get tax free (put £20K into ISA if still exists) and move chunk of AVC to drawdown. Question - in following years would it be better to leave the crystallised cash in drawdown to…
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Retirement at Christmas
Trying to figure out the best way of funding the 2 years and 3 months pre state pension should I hang up my boots at Christmas. Currently spending around £2500 a month, but want to allow for a 3k income, which means a gross income of £42000 per annum. No debt, house paid off. Spouse has her own small pension and state…
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What happens?
Hello. I have a question, a simple one that I hope the answer too will end up being of no use at all. So, i got thinking recently. Im 37, have a wife and 13 year old son, a mortgage, a dog and a cat. Very happy and can count ourselves lucky we are all in good health. But I got thinking the other day about the what if's of…
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Changing SIPP Platform
I intend to change my SIPP platform from HL to Fidelity and wonder if there are important reasons why I shouldn't. Because I'm not resident in the UK, I don't read the UK press very much although I have read the Moneyvator article on changing platforms. My SIPP is high five/low six figures and in drawdown, it comprises…
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Missed the 5th April State Pension NI contributions deadline...just been thrown a lifeline by HMRC
Had 6 years NI to top up but left it to the deadline but was not able to select any payments on the website + with the 5th being a Saturday I was unable to contact anyone at HMRC to confirm. Assumed that I missed the date and should have completed these payments before the 5th. Have kicked myself ever since for the lost…
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CS Alpha.Can you put part into payment?
For student finance reasons I want to limit my taxable income for the next few years but I also want to put my take my DB rather than only using DC (I will top up taxed DB income with DC tfls) If I put all my alpha into payment it will be too much for student loan purposes so I just want to put enough to use up my personal…
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USS mess - Statements v. Summary
Question for any USS experts - how reliable is the "Your Summary" information presented on the front page of the members' bit of the website? It seems to be giving the same information as the Annual Statement, and in almost identical language: "Here's what you've built up"; "Here's what you've saved" - which sounds pretty…
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Retirement plan geared to sequence of return risk, what to do when portfolio is rising
We are possibly 2 years off retirement (when I say we I mean OH) however OH may continue beyond that in semi retirement depending on work offered (self employed with 5/6 sources which are unrelated to each other). I will have SP in 1 year. We have 3 small DBs in payment £14.5k. There is a cash/nr cash fund to cover OH’s SP…
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FAS/PPF Beneficiary Nomination
I expect everybody affected will have received the email but, just to advise, those with pensions with the Financial Assistance Scheme (and presumably also the PPF) will have to redo their beneficiary nominations due to a change in their system. I had already uploaded our marriage certificate ages ago, but I had to do it…
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Civil Service Pension advice
I've struggled to find an adviser who knows about Civil Service Pensions so I thought I'd try posting here to see if anyone could help. Having turned 60 in March, I decided to apply for partial retirement. This was approved and I've now received my pension quote. My plan was to reduce my hours by 40% which would reduce my…
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I'm addicted to pension saving and it's leaving me short.
Hi, I can't remember if I've posted something similar but here goes. I'm 47 and like a lot of people I became more serious about retirement planning as I approached 40. I don't earn a massive amount and its unlikely due to circumstance I ever will. After the September inflationary pay rise I will be on £39,970. My wife is…
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UK pension paid to NZ resident
Help please. My sister in law ( a N Z resident) receives a small annual payment to her bank in NZ from DWP, without any reference details and she does not know her N I Number. She wishes to find this . where can she access any information? the hang -up is obviously lack of N I number .she has nor worked in UK for 50 years…
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Pension and salary sacrifice
Good evening, First of all, I am very sorry if this has been discussed previously, but I have been googling many times without any success and I am getting a bit stressed (probably because I am missing something obvious!)My issue is, I earn roughly £50000.Say I put £20000 in my pension with salary sacrifice, and my…
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Pension companies taking advantage?
A few weeks ago I started the process of transferring my Personal Pension that was hosted by LV= to AVIVA, last week my pension disappeared from the LV portal and then almost a week past then I got a notification from LV= earlier today saying the pension had transferred....now looking at the AVIVA portal I see no sign of…
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708 discussions
6.2K comments
Most recent: Retrospectively claiming NI credit for a carer? by jem16
21 September at 11:00AM
