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SIPPs/Pension Dilemma
I have a SIPPs since 2015 and it got hammered during Covid but bounced back and June 2021 was approx £455k, now June 2025 it is £470k. Due to Covid, Russia/Ukraine war and Trump it has only gained £15k ( after £30k fund fees in 4yrs). With fees now £7.5k annually Can anyone give me some advice on what to do? Inflation has…
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Is there a pension scheme i can withdraw some of my pot before 55?
Is there any pension schemes where i can withdraw some of my pot before the age of 55?
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Cashing In An Annuity Pension
I recently discovered a small pension pot taken out by my father on my behalf around 40 years ago. It is with the Pru and following a long conversation have decided to cash it all in, as I need the money (c.£50k) for home improvements. They have asked me to get a Financial Adviser to sign an Appropriate Advice Form, to…
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Workplace pension
Hello, advice wanted. Is it worth restarting my workplace pension at 56? I haven't had 1 for many years, there is about £3000 in it now. If it is worth it, what would I need to add monthly? Thank you.
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Paying the most I can into a pension - daft idea?
I am in my 40's and currently pay most of my salary into my pension. My thinking is that it will then have the greatest amount of time to grow. I don't know anybody else who does this though and wondering if I'm missing something and it's not a good idea?
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Inheritance Tax Threshold
Hi, I am dealing with my fathers estate following his recent death. He lived rent free with his partner, but owned a property that was let to tenants. I am the only beneficiary. Given that his rental property was his only property, would he be entitled to the additional threshold of £500K
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DWP claim they do not send text messages advising they will call
I have seen a number of posts from people who have received text messages from the 'DWP' advising they will call "tomorrow between 8am and 6pm to talk about paying voluntary National Insurance contributions". I spoke with the DWP today, they said today they do not send text messages so anyone who has received a similar…
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Maximum tax free lump sum
I’m currently 55. I’m fortunate to be due a lump sum of about £190,000 from my NHS pension age 60. I no longer pay into the NHS pension (I now work in the private sector) but am saving into a DC pension and hope to have around £500,000 in that when I retire at 65-67. I’m aware that the maximum tax free lump sum that can be…
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Taking pension Drawdown
This discussion was created from comments split from: Taking pension Drawdown.
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Can I retire - a stupidly simple method
So I know there are a multitude of retirement cash-flow planners out there that attempt to predict whether your assets are enough to support your retirement such that you don’t run out of money. There is a whole industry that has grown up around modelling these in cash-flow plans. BUT, retirement planning would be a simple…
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Paying NI for my last working year in time for my pension
I am due to retire in June 2030. My State Pension Summary says 'Forecast if you contribute another 6 years before 5 April 2030: <full pension amount>'. To achieve this, I will need to contribute for the 2029/30 tax year. BUT... I am self employed. Usually I get a bill for my Class 2 contributions after I have done my tax…
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Which platform for separate crystallised and uncrystallised pots?
Currently mostly with II but it seems in drawdown you can't have separate crystallised and uncrystallised pots with different invest mixes, nor chose certain current holdings to crystallise. Any suggestions for platforms that provide this - or do people have a second provider (and set of fees) for their crystallised pots?
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Unchecked year in my NI record
There's a tax year on my NI contribution history 20 years ago marked as 'Year is not full. We are checking this year to see if it counts towards your pension. We’ll update your record when this is finished, you do not need to do anything.' I don't know why this year is still marked as unconfirmed. It would help towards my…
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LGPS death in service grant
Please could anyone clarify what happens if there is no EOW in place at the time of death - specifically, do the regulations stipulate that the grant must be paid to the estate, or are they worded in such a way that the local authority still has some sort of discretion over the payment? I've looked at several websites for…
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Paying income tax on your private pensions
Im currently debating on starting to take my defined benefit pension. Its not massive amounts (about £1,700 per year). Im 64 years old. Im still working full time, so any income would be taxed. I will probably invest the Tax Free lump Sum (about £10k) in a passive global fund tracker. What Im trying to get my head round is…
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Salary sacrifice for £150k+
Hi, a person gets a salary of £150k plus 10% annual bonus. The company contributes 15% into pension and employee contributes nil. Assuming the employee can afford to take a reduction in net take home, is it worth to cap the salary at £99k and put rest into the pension pot through company's salary sacrifice scheme? I tried…
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DB pension transfer timing?
How long does it typically take from submitting documents to transfer taking place? I am about to do so and been told it could be up to 8 weeks. Seems like a long time and wondering if others have taken less in practice. This is a transfer from a major company to a very large well-known pension firm - not be to SIPP and…
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GMP Equalisation
I am a retired pensioner receiving a state pension and also 2 company pensions built up in the 1990's with 2 different 'big' companies. This question relates to these 'commercial' pensions. I have recently received correspondence from the pension scheme of one of these companies regarding the conclusion of their GMP…
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Just traced an old RoyalMail SPS DB Pension
Would appreciate some advice. Following Martin's Money programme topic, I've just traced an old RoyalMail SPS DB. I'd forgotten that that I worked for the Post Office for close to 3 years from 1990-1993. I contacted the RoyalMail SPS Pensions helpline number who confirmed I was in the scheme and they are preparing the…
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Taking pension Drawdown
Hi, I have a Standard Life Pension, which was funded by "Contracting Out of SERPS in 1987" and need to convert it so I can start drawdown. They have pathway pension funds to switch to which allow drawdown. I don't want to actively manage my pension so is this a good option? I am age 61 and have been retired a year already,…
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Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
16 August at 3:16PM
