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I opted out of serps
I remember opting out of Serps around 1986-1988 as part of my endowment mortgage. I was told by a family member that once I hit 55 I can claim the money that I'm missing. Does anyone know how I go about doing this please?
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Anyone with an AJ Bell SIPP and Drawdown?
Currently, I have arrangements with a couple of platforms which work well. I use both AJB (ISA) and HL (SIPP/Drawdown). I’ve used both long enough now to know how they work. And just to say up front, I’m overall happy with the service received from both. Turning to SIPPs, my current arrangements are with HL where I have…
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Taking Max Lump Sum Available for IHT Purposes
This is a hypothetical scenario......... We are generally advised not be tempted to take the whole amount of available tax-free amount from our pension pots. However, if you have combined assets worth circa 3 million (SIPP and Property), you and your spouse are aged 70 and have not started any drawdown would taking some…
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Offer from Morrisons Pension
My son works at Morrisons (Supermarket). He has received letter to take a 'One-Time Winding -Up Sum Offer to Take your RSP (Retirement saver Plan) Section benefits as an Immediate One-Off cash Sum'. (Italics bit inserted by me). He doesn't understand the letter. Neither do I. My main question is: Will he still be in any…
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Early retirement and filling the gap
I (F, 63) have been retired for a couple of years. I currently have small LGPS DB pension and am drawing down from my DC pot at ca 7% (I plan to reduce this once I start getting state pension). OH (M, 57) is currently working full time and paying into USS. As well as the DB element he has built a small amount in the DC…
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Exceeded Annual Allowance
Hi Looking to have taxes sorted and filed due to exceeding pension annual allowance £300-£400. An error due to an old statement from pension provider. So my calc was slightly off Preference to minimise income to £100K. Maybe some gift aid carry back. Has anyone had any experiences in this area? Am I best to go to a tax…
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Pension Lump Sum Charges
I have a private pension and want to draw down my tax free lump sum but my provider says I have to pay 3% of its worth to them for mandatory/statutory advice that I really don't want. Do I have to pay this?
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Confusing response from Aegon re right to retire at 55
Hi, Im 49, so believe I will miss the right to draw from my pension at 55 should I wish to do so. Back in April I contacted Aegon to ask if my old group personal pension had a protected retirement age. I forgot to look for a response. Ive just found it and I am confused. There response Thank you for contacting us. In…
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Spreadsheet Championships
https://www.bbc.co.uk/news/articles/c1jz083lz6xo I bet a few on here would love to take part. :D :D
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Circulate 25% TFLS
Hi, Hi, I am thinking of taking 25% tax free lump sum from my pension as being worried that the cap might get reduced this budget to 40K. My tax free lump sum would be around 75K. Since taking TFLS does not reduce my annual allowance of 60k, is it possible to invest 75K back into the pension in span of 3-4 years?
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Fees and Consolidation
Hi All, I have a couple of (probably stupid) questions - wondering if any kind soul can help my understanding. 1) Fees My partner (aged 37) has recently changed work place and the company DC pension scheme is with TPT Retirement Solutions. I supported her to choose the fund - "TPT Global Equity Fund" rather then the…
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To take TFLS maximum now or not?
Retired 6 months - age 60, wife 59. DC pensions not activated. Overview: Pension pot £1,100,000 Wife’s pension pot £170,000 Cash £170,000 S&S ISAs £300,000 Main residence current value apx £2.2 million which we would like to live in for another 10-15 years then downsize. Second home value apx £600,000 (90% in wife’s name,…
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Claim pension from USA
I worked in the USA during the 80s and paid federal and state (California) taxes. How do I claim any pension due?
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“Uptick” in regular instalments vs lump sums …
Not a surprise that more people are now trying to utilise the ‘gifts from surplus income’ method in a natural response to new IHT rules. I guess there is the possibility of further rule changes that shut this down……
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Need to consolidate my pensions and open a SIPP
Hi, I'm looking for advice on which company to choose for opening a SIPP. Should I go for a DIY option or a ready-made portfolio? I don’t have much experience with DIY investing, but I’m worried that a ready-made option might not have my best interests at heart. Any thoughts?
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Civil Service Pension - Contributions
Anyone know how the contribution bands work for CSP Alpha? I work part time ( 4 days a week ) but my FTE has just moved
from £54,000 to 56,100 as part of the recent pay award. However if I was working 5 days a week this would mean contributions now jump from 5.45% to 7.35%
contributions – therefore my 3.25% increase is…
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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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NHS pension - not sure whether to take standard or maximum lump sum
Hi all, I've seen some good informed discussion about NHS pensions here (such as https://forums.moneysavingexpert.com/discussion/6464889/nhs-pension-1995-section-delaying-retirement which helped a lot) and hope you can help with this. Partner is 61, in both 1995 section and 2015 scheme and wants to go for partial…
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Pension Query
Good evening all im wondering if you can help me please? My wife is currently finding her workplace difficult to be in & I’m wondering if there is a way to draw a lump from my pension to use to pay a years salary so she can leave, but for it to not cost me a chunk in tax on my earnings? ultimately the impact of work may…
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Overseas Pension
Whilst working overseas in the UAE from 2000 to 2011 my company set up an 'overseas' pension scheme administered in Jersey. The company (local to UAE) and I contributed to my pension fund. I stopped contributing when I left the country and moved to China. I continued to be Tax non-resident until 2022 when i started a job…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
721 discussions
6.3K comments
Most recent: Guide discussion: Voluntary national insurance contributions by JimTheseus
14 November at 10:10AM
