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How can pensions be made to work?
In the same vein as the 'Should pensions be compulsory' thread, I wanted to get people's ideas on what would - in practical terms - help build confidence in pension saving - assuming that there is problem to be overcome. I can't claim to have thought about this too deeply, but I feel that pensions are just too abstracted…
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annual management charges query
I have a w.p. personal pension with an insurance company that's not receiving any bonus plus a works pension currently paying into.The ifa's I have spoken to have suggested transfering to funds/funds of funds from such as skandia,threadneedle,fidelity etc. The amc's could range from 0.7 to 1.9% with the ifa's adding 1%…
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Pensions V ISAS
I am at odds over whether or not to invest in a company pension or ISA or SIPP. I am a basic rate taxpayer and have maxed my ISAs last year and about to this year. I am very happy with the flexibility and as I have an index tracker fund the annual charges are very low (less than 0.5%). My company pension (NOT final salary…
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stakeholder pensions
Hi I dont really know much about pensions, and I have been offered a job (which I accepted and I start in two weeks) and they tell me I will be able to join their stakeholder pension after 12 months of continuos service. I understand basically what this kind of pension is. However, im 25 now, and clearly need to start…
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pension problem
currently our earnings are something like £72000 p.a. which is 4000 a month after tax. with 3 kids and a mortgage of 200K we have £1100 a month left over of which i put £300 into a pension (not enough) I am 36. The rest(£800) we use for savings , holidays cars etc. Do I take out an additional £80k mortgage, which i believe…
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relevant income for pension contributions
I'm trying to calculate the biggest pension contribution possible to get my mother down the 40% tax bracket (as a contribution to count for the last tax year). Her relevant income is all from commercial property rental which is taxed on what was due and not what was actually received. Her tennant missed three months rent…
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Care Fees Annuity with Pension
Is it possible for someone who has not yet purchased a pension annuity with their pension 'pot' to buy a 'care fees annuity' with that money if, at the time they purchase an annuity, they require residential/nursing care? One adavantage of a care fees annuity is that no tax is payable when the annuity is paid direct to the…
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How many stakeholder pensions are allowed at the same time?
I thought it would be a good idea to suggest my mother (aged 67) saves some tax (as she's in the higher tax bracket) by getting her to put some money in a stakeholder pension. She can apply to have a contribution counted for last year (if she gets this sorted out by January 31st 2006 when after which that won't be…
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Protected rights pensions
My father invested £2000 in a protected rights pension scheme in the early 90's. For one reason or another, he would now like to cash this policy in. The company who administer the scheme can't offer this facility. Does anyone know why this is the case with 'protected rights' schemes? Which rights are protected exactly?!…
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Final Salary Pension - transfer and buy residential property?
Found this interesting article about proposed changes to Final Salary Pension transfer value calculations: http://news.ft.com/cms/s/d950fa3e-c3cb-11d9-a56d-00000e2511c8.html Suggests rules may be changed to allow investment in residential property via a SIPP. (Currently I believe only commercial properties can be used).…
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transfer prevention cartel?
I'd like to transfer a final salary pension from a previous employer to my current employer - "certainly sir" they say at the transferring company. "Just need you to get the receiving scheme to sign our indemnity statement. It's to protect you, in case the government changes the law retrospectively." Of course, the…
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What to do with 4 'frozen' pensions.
I've got 4 pension schemes ATM. I started my first private scheme when my comapny told me they weren't doing pensions. 5 years later, they started up a scheme. I stopped paying into my private scheme and contributed into the 1st works one. I left there and the next company put me in their scheme, so I stopped paying into…
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Pension Wind Ups - a list of broken promises?
(withdrawn)
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Is there a list of non-scam Pension Companies
I have been looking for a list of Pension Companies that have never been involved in miss-selling or other scams (I know this rules most of them out). I rang the FSA who do not produce such a list and no search seems to find anything useful. Does anyone know where there is such a list that would include only companies that…
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Virgin Pension-Taking money out
I have a Virgin pension, and have been paying in £10 per month(with some breaks)for about the past 2 years. I want to take some money out, could I do this? How do I do it?
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Monthly Saver For A Pension?
HELLO! I'm 28 and I've started saving for my retirement (a bit late I know!). Only thing is all this pension talk bores and confuses me. So........ last year I set up a Derbyshire Regular Savings account which I put £50 a month into. I have an ISA in which I put savings for my travelling. As I wanted to keep my travelling…
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Pensions - Conflicting advice given... help!
I am quite inexperienced when it comes to pensions, I'm trying to understand more from reading these forums! I hope someone would be able to offer me some advice/info regarding my pensions. Basically, I have one pension with Scottish Widows from a previous employment with £400 in. And one from Friends Provident from…
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Should pensions be compulsory?
Since it's a bit quiet around here, thought I'd ask what others think as it seems Mr Blunkett will be out and about seeking input on this soon ;) My view is they already are, since you are forced to pay NI contributions which entitle you to the basic state pension plus the state second pension (S2P). You don't get these…
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Retirement Capital Plan Pension Advice
Hi, I'm not an expert on pensions but the Engineering company I work for is proposing to make some major changes to its pension plan. I am currently on a Retirment Capital Scheme, I pay 4% of my pay and the company pays 16% to give a 20% fund. However the proposed changes are a 1:1 match up to a maximum of 8%. i.e if I pay…
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Can you backdate NI contributions?
Question from my boss this morning. His wife has been self employed for some years but now has to stop working. He wants to continue paying NI contributions for her but I seem to remember that you can actually pay any missed NI contributions later (bearing in mind that if you die before reaching retirement age then any…