Pensions, annuities & retirement planning

Hi there, Has anyone experienced the following, and/or can anyone offer any assistance? I have a small DB pension relating to the time I was contracted out of the state earnings-related pension scheme. I was originally provided with a benefits pack detailing the benefits payable before and after GMP equalisation, and was…

Hi Bear with me if the terminology is incorrect, I'm only just now getting to grips with this pensions malarkey! I have reached pensionable age in a DB scheme and I intend to start drawing this pension whilst still working. The DB pension is £200 per month (£160 after 20% tax). I was recently informed (not "advised") that…

Hi All I’m hoping someone here might be in the same situation or has managed to get a clear answer from HMRC, because I’ve spent hours and hours going round in circles and still don’t know where I stand. I’ve lived in Spain for 21 years and I’m self‑employed here (autónoma). I paid 19 years of NI in the UK before moving,…

I am trying to identify other deferred members of the IBM 'M' Pension Plan, who are considering transferring to another platform but needing a 'buddy' to join up with for a block transfer which would retain any protected tax free cash.

I am 59 and edging upto retirement. I have a large SIPP (£1.05m) and also an ISA (£450k) and are considering using my SIPP (or part of it) as an annuity thus effectively de-risking. I would like to understand how using my SIPP for the annuity would work from a tax point of view e.g. what happens with the TFLS and will I be…

I'm considering the situation within the last (tax) year of working before retirement. If one's relevant earnings for the tax year were below £60,000, would it be advantageous to make a relief-at-source (RAS) gross contribution of 100% of those earnings to a personal pension before the tax year ended? In particular, the…

I've managed to convince my 18 year old son to ask his employer to allow him to join the company pension. He showed me his first payslip with his contributions on. It didn't look like enough had gone into the pension to me. He queried it with his employer and they came back saying contributions are not made on the first…

I worked for Topshop (The Burton Group) from 1986 until 1996. I’ve have gone through several pension tracing providers and have come back with no results. I was 21 when I first started in 1986. Has anyone managed to find their Topshop pension around those times?

Good morning, Work / Benefits / Pension I previously posted on the forum about my place of work changing our pension sacrifice from NET to GROSS, where we will be taxed twice for our contributions. This is where I am not sure that I have this thread under the correct heading….. Due to the change in salary sacrifice this is…

Can anyone advise how accurate this calculator is ? My indicated pension is about £9 less than the maximum State pension per week. I'm ok with that having been contracted out for most of my working life and come to the conclusion that paying nearly £3000 to make up the difference is not worthwhile for me. I have 44 years…

This discussion was created from comments split from: Pensions Planning: The NUMBER.

I will be moving my pension to a drawdown pension as my concerns are my defined benefit scheme only pays 50% on my death and does not pass to my children if both pass away. Why do I have to pay for a financial advisor to say that I am in a position to move my pension when it is my pension.

I'm seeing some press reports - in the Independent for example - that the retirement living standards have been updated, but I can't find the new report, it may not be available yet. I know we've collectively disagreed with these standards in the past, but I'd still like to read it. As far as I can make out there have been…

Has anyone ever got the Option 3 'Calling about your state pension' to work? I have been trying for weeks at various times of the day and the line just goes dead after about 40 seconds.

I have been looking at sorting out the isa/pension investments for me and my OH as they are currently across 3 providers (Vanguard - OH, interactive investor (me) and L&G (me) (ex-employer master trust in drawdown). Total approx £1m and not really used for day to day as decent DB in play. My allocation for the last 5 years…

I'm a USS member. At present the USS benefit modeller suggests that at my planned retirement age in around 7 years time I would be able to take an income of £37k and lump sum of £250k. The modeller gives figures in 2026 terms (subject to a lot of assumptions of course.) What the modeller does not model is the changes to…

Hi All, I am trying to discover the impact of a significant capital gain on my pension income and savings interest taxation for planning purposes. I have a personal pension (so I can vary income drawn) and cash in the bank earning £5,500 pa. Historically I have kept my pension income at my personal allowance of £12,570 and…

Good afternoon, I would like to understand if I can pay into my SIPP in order to reclaim tax I've paid in the higher rate tax bracket over the past few years. I've been with my current employer for 10 years and I currently earn £66k. I've always been enrolled on a workplace pension scheme but have not invested towards my…

I have two DC funds and a DB pension I haven't touched. My DB pension was closed to further accrual some years ago. I'm still working. I've made enquiries about taking out my 25% tax LFS. I have been told the following: £1,073,100 x 25% = £268,275. This is known as the Lump Sum Allowance or LSA. This is the maximum…

Hello... apologies if I've got this in the wrong place. My wife ( 61) just retired early and will be receiving a NHS pension of £17500 per year. She also will be receiving approx £2000 annually as "bank shift" working income. So a total of £19500 I have transferred my marriage allowance to her so anything over £14100 is…