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Pension details for someone with dementia
I am trying to track down details of pensions belonging to my mum who has been diagnosed with dementia. I have an LPA in place to allow me to take care of financial decisions but she cannot help me track them down as I need previous work information. She cannot tell me this, let alone the pension companies. How can I find…
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Carry Forward Query
Husband is 53. He earns 140k ish. Last year (with employer's contribution) he had 50k paid into his Aviva DC pension. This year to keep under 100k he needs his and employers contribution to be approx 63k. This would use 3k carry forward from 24/25. He also has a small deferred DB pension worth 8k pa at 60 which increases…
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Pension switching incentives
Lots of coverage on incentives for current account switching, but none that I've seen for pensions. I kind of get it - bank accounts are a well oiled process, don't involve long waits, differing paperwork requirements, and potentially large sums needing to move. But given that the demographic of this board is made up of a…
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Opting out query
I worked for a company that opened a works pension. I have the option to opt out but i will lose my employers and tax relief contributions. As i am now retired and over 55 what are my options for taking the money out without losing the contributions?
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Tax on pension
Hi. Friend of mine has gotten himself into debt and is trying to work his way out of it. He is in a debt management plan and things aren’t going well for him. His wife of 5 years has recently left him, leaving him with all the rent and other household bills. Anyway he is short of ready cash and has decided to withdraw his…
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Means Testing of State Pension
There's been a bit of talk about this lately, and in its current form and with the country's finances not the healthiest, I think it's inevitable at some point. Any opinions on what form this could take?
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Civil Service Pension & Tax
I was retired from the Civil Service on the grounds of ill health in 2013 (I was in the Classic Scheme). Due to circumstances, I didn’t claim it at the time; I am now looking at doing so. My annual pension will be 12k. MyCSP have confirmed that it will be back-dated (ie 12k x 12 years = £144000). What I was hoping to do…
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UK retirement planning tools
Hi,I'm looking for a DIY retirement planning and drawdown tool that can make suggestions, especially around tax. There are lots of options in the US, but in the UK I can only find a product from Retireeasy.co.uk. Does anyone have experience with this tool, or know of UK alternatives? Thanks,
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Rate my SIPP - ITV high conviction
A note about diversification: I know it’s important. I’ve done it all my life. Had plenty of bits and pieces of ETFs like VWRL. But sometimes you have to just go for it. That’s what high conviction means to me. “Diversification may preserve wealth, but concentration builds wealth. - Warren Buffett A note about dividends:…
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Changing my pension investments - unable to do it without FA
Hi, I rang Aviva and asked to have my pension changed to 80% cash and 20% low to medium share investment. I am retiring in December 2025. Aviva refused to do it and said it was their policy.Is this correct and why I cannot deal with my own money the way I want? MyAviva only allows the change from one fund to another, but…
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Pensions private and state
Hi All I have a friend who is Brazilian and resides in Brazil. Her English Civil Partner passed away 7 months ago, her partners sister says that the Home Office are now involved because they apparently have concerns. The family are not divulging to her what the concerns are. The Solicitors have already received the…
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Split Year Treatment Pension Contributions
Dear All, I am returning to the UK from abroad in August and will receive split year treatment for this tax year. For pension contributions, what am I allowed? How does the £3200 I am allowed when abroad and the contribution amount I am allowed while in UK work? Do I have to calculate e.g. 30% of the tax year abroad = £960…
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Tax Free Cash > 25%, Scheme Specific Protection
I was pleasantly surprised to find out I had scheme specific protection giving me tax-free cash > 25% for a workplace pension that I commenced in January 2006, details as follows:- - A Day Tax free Cash: £400 - A Day Fund Value: £1000 - Current Value: £150,000 (of which approx. £60k contributions after A-Day, remainder is…
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Annuity purchase timings
I've looked through as many forum posts as I can handle - Hundreds. Anyway...I'm 65 and expecting to start receiving my State pension next August. I'll be working until then. I have 4 DC pots from previous employments. I'm in my employer's pension scheme, paying 6% plus my employers 9%. Looking to do my research into…
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Question for experienced VCT investors in retirement
When using VCTs as part of a retirement investment/ planning/ income strategy, what tend to be your holding approach? * Hold long-term and take the tax-free dividend income * Roll over (into new VCT or same >6 months requirement) every 5 (or >5) years to get renewed tax relief. * If you do roll over, will you have less…
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State Pension - Change to PAYE Code
I am about to start receiving my state pension and have just had notification of changes to my tax code. It looks like I am going to be paying more tax than I expected so I looked at the details. They seem to be expecting my annual income to increase to over £45,000, which is considerably higher than it will actually be.…
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Advice Needed: Pension Consolidation and Financial Advisor Costs
Hi everyone, I’m a complete newbie to financial planning, and recent life changes have pushed me to get my house in order. I have a couple of pensions that I’d like to merge into one and actively manage rather than leaving them in standard company plans. I first spoke to an advisor associated with SJP. Their proposal was…
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DB Clawback / State pension Deduction / Barclays 1964
Hi, I am hoping someone can give me a simple explanation around my accrued DB benefits. I have initially emailed tower watkins who administer the Barclays 1964 scheme but just got directed to read the Scheme booklet (which they couldnt provide). I think I need to understand a bit more before I call them. I am currently 51…
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Financial Advisor Fees for Pension withdraw
OK so I hit 55 and want to withdraw my pension. It is £500 over the £30,000 limit So l I need to get a F.A to sign it off.. And that's all i want. I do not ned any advice or explanation.I have considered this for two years and know what I m doing. But I am being quoted £1,200 And the usual spiel..The F.A .will explain it…
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How Do You Invest in Retirement?
I’m wondering how I will invest my pensions and ISA’s in retirement tax efficiently. Annuity’s don’t seem to offer great interest rates. If the money is put into a global index fund, this could generate a 7-10% annual return on average, but could suffer if a black swan event occurs. What do people here do?
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Most recent: How long before your state pension increase actually comes through? by dreaming
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