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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…
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Save half your age as a percent...
The calculation I've seen numerous times about the (minimum) amount to save for a pension is invariably given as half your age as a percent (e.g. 15% at age 30, 20% at 40) Two question on this: 1) Is this figure for if you've just started a pension, i.e if you start at 30 then you should save 15% until 65, or should it be…
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nearly 22 and thinking of pension any advice
Hi just sat down reading these forums and thinking of my retirement ( i know only 21 and thinking of it allready) any found a calculator that works out if i saved say £100 per month for 28 years on a 5% interest account my return taking into account inflation of 2% a year my return would be £73000 i would also increase the…
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Help! Graduate Pension
Ok I am a complete neophyte when it comes to pensions, but all the recent press scares me. I worked in reasonable well-paid job after graduating for three years, obviously paid NI contributions but did not join any pension scheme. I then took a year to do a Masters degree and am now returning to full time employment,…
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Maving to Canada, what do I do with my pension!
Hi All, I was just wondering if anyone here might know what I should/can do about moving my pension fund when I emmigrate to Canada later this year? Is it transferable, can I organise it myself or do I need professional help?! Any advice would be gratefully received or direction to a resource on this matter. I have looked…
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Should I transfer my pension?
I recently started work in a local authority school and have joined the superannuation pension scheme. During my previous employment, of 5 years, I contributed to a private pension scheme with Norwich Union. I now have the opportunity to transfer my Norwich Union fund to the superannuation scheme. Has anyone any advice, as…
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Not working, but need a pension
I have recently had my third child and as it is not worthwhile me returning to work due to childcare costs, I am in the situation where I do not have any kind of pension. I am 34 and may not work for the next 5 years and even when I do, I may only earn a small part time salary. Although I don't have an income, I could put…
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N.I Rebates - how do they work them out?
Hello all, I just got my annual statements for my personal pensions. For my contracted out pension with Legal & General it seems that this year my N.I rebate comes to the grand total of zilch, nothing, nada, not a bean. In previous years the rebate has ranged from £1292.92 (2001/02) to £895.05 (2003/04). I have been…
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Blind leading the blind!
After 18 years working as a carer for our children and then laterly for her dissabled mother, my wife recently went back to work at a university. At the start she opted for the clerical staff pension scheme but has the ability to opt out of it again and get her money back at any time in the first two years. Just recently…
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What pension to go for !!!!!
I am a married man 32 years old and have yet started a pension. I have a good job as a sales consultant for a heating company and earn around 30k per year. The company employs around 25 people. I urgently need to start a pension, but don`t have a clue where to start. I beleive a few work colleauges have a stakeholder…
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Norwich Union Opt Back In To SERPS
I have just heard that Norwich Union is going to opt back in to SERPS all of its clients that have opted out. Does anybody have an further information on this? Many thanks
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Which pension fund should i invest in??
Hi, I’m hoping there may be some advisors on the board who can give me some free advice! - or anyone else with equivalent knowledge! I'm looking at changing one of the funds i have with a Friends Provident Pension. This isn't my main pension and only has about £1000 in and I’m not paying into this one. I'm 26 so it does…
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Releasing Equity
Not sure which section this should be under, but hopefully someone can advise. We have a large house with no mortgage left on it now and we were wondering what would be the best way of releasing a chunk of the equity, whithout taking on another mortgage/loan. Iam retired and my wife will be shortly.
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Selling my fathers bungalow
My father has moved to a warden controlled flat and is presently renting out his bungalow. Although he is 80 he is still very fit and wants to sell the house to raise cash for a new car and holidays. The bungalow is worth in the region of £150,000 and my sister & I want him to keep as much of his money as he can. He worked…
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Dimwit (Me!) Needs Early Pension Advice.
I wonder if anyone could kindly help my wife with what is probably a simple and common dilema? (She is more 'switched on' to this sort of thing than me but I thought it couldn't hurt to check the wise minds on this site). She is considering taking her pension 3 years early has been given the option to take a FULL AMOUNT OR…
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Which option to choose
Advice please... I'm 54 redundant disabled wife and wish to retire... No mortgage or debt. Pension options are:- Max lump sum 58,000 with a reduced yearly pension of 13,000 or Reduced lump sum of 30,000 with a Max pension yearly of 15,000 or Level State options Max Lump sum of 58,000 with a yearly pension to state pension…
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Civil Service AVC
I am employed in the Civil Service and have already bought added years, stakeholder plans. I have another 2% left over on pay (from the 15% maximum pension investment from pay). I am considering a Standard Life CSAVC. Does anyone know how I can minimise commission on the scheme? Is it possible to buy this CSAVC through a…