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Retirement advice / de-risking investment portfolio
Help please forum. When I am 60, I plan to retire when my Civil Service DB pension kicks in; it is currently valued at 13K PA with a 40k lump sum. I will need about 26K PA to live comfortably between 60 and retirement age. I have 200K in the FTSE Global All Cap at present with Vanguard. Do I take 26-13 = 13K per year from…
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Mercer annuity fees
I should preface this by saying I know I could go to an IFA and I’m also aware that I should get quotes from more than one place. Having said that, this question is specifically about Mercer and their fees for setting up annuities. Mercer are about to quote me for an enhanced annuity. During email exchanges the subject of…
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DC to DB
My friend has a question. He is young and just has three tiny DC pensions from previous employers - sums are 2.8 K (Smart Pension) , 1 K (NEST) and 2 K (Smart Pension). Recently he started a new job in the council and received a letter stating that he has 12 months to transfer 'previous pension rights from a non-LGPS…
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Pension reductions
Hi, if you take your private pension early, there are bigger reductions the earlier you take it, the largest reduction being at 55. When the age you can take your pension changes from 55 to 57, will the reductions stay the same, or would they adjust them, meaning a bigger reduction at 57 than their would’ve been before the…
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Finding missing pensions
Hi there. My wife has had power of attorney over her mother’s estate for a few years now. Her mother is 74 and has had Parkinson’s and Dementia for about 5 years, and her husband died 19 years ago when he was 64. We know for sure that her husband, (my wife’s father) had at least one private pension scheme as he was self…
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Avoid higher rate tax in employment with additional SIPP UFPLS income
Hoping for any ideas please - early 60's (male) with an intention to work 4 or 5 more years. I've been taking UFPLS cash annually from a SIPP (ex SERPS, no new contributions) for a few years and putting most of it into a Stocks & Shares ISA, which has done very well while making it accessible for some large purchases/maybe…
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Thinking Early retirement , is it feesable
Not sure if this is the right forum But as a 60yr old , I am considering retiring in Jan 2028. as is my wife also 60.(no pension to speak of) I have tried to search online to see if it would be possible.. after banging my head.. I decided to create my own Predictions based on the following Currently I have 242,000 in SJP…
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Lifetime allowance query
I know lump sum allowance has taken over lifetime allowance, but I'm just helping my F-I-L understand his pension. At age 75 (01/03/20) his lifetime allowance was tested, and the figure was 92%. This included the TFC he took with his existing plan, BCE 5A & 5B, and 15% LTA used with a 3rd party provider. Now, post age 75,…
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Tax on private pension
Good day everyone, I've recently retired early at 65 from a job with a local authorityand am taking an income from 3 pensions, I've taken the maximum tax free lump sum from each one and taken the remainder as drawdown. I can take my state pension next March. Private Pension 1 is a gross amount of £1000 per month for 10…
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Move to SIPP or stay in active managed fund with fees?
I know this question has been asked plenty of times in various guises, so apologies upfront! I’m 50, with around £220k in a pension and contributing £1,645/month via salary sacrifice. At the moment, everything goes into a Quilter account managed through Tatton (Global Core Active), with total fees of about 1.4% (0.5% of…
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Auto-enrolment Pension League Table
Auto-enrolment Pension League TableDoes this exist? I have recently been asked by a newly appointed manager (helping to setup a new business) to research which is the best auto-enrolment pension to choose for her employees to be (she is also an employee and not an owner). While I understand that is a complex question with…
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Weird transactions in my Aegon Retireready account
I have an Aegon retireready account through my employer. The funds in the account are all in an Vanguard accumulation fund except for a small cash amount to cover ongoing charges. I noticed in the last few days some weird transactions where they sold £98.59 from my fund without my having done anything. There is a "sale…
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SIPP Deposit Accounts OR SIPP Gilts
I have a pension pot (100k-ish atm) that -I believe- I wish to place inside a SIPP wrapper, although stocks, shares and the like are off the table as I don’t wish to depend on the swings of markets. SIPP Deposit Accounts OR SIPP Gilts is my question, together with what offerings and where are currently out there, and what…
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When to reduce pension contributions?
My DC pension is currently at about £700k and I am contributing £60k per year. I am 42 and I'm conscious that if I keep contributing at this rate then I'm going to suffer tax at 40% when withdrawing much of what is being contributed at the moment. On one hand that isn't necessarily a problem as that is less than my…
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Pension reduced because of GMP recalculation.
My wife is 73. She has
just received the below letter from one of her pension providers. It
relates to a pension that she started taking in July 2014 at age 62. If I have understood
and calculated this correctly, her before tax pension will reduce by
£18.18 per month or £218.16 per year. As she pays 20% tax this…
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Cash or DC pension First?
I’ve a 2:1 mix of DC pension and ISA cash to live off in my retirement. Is there a general rule (or do I need to do a detailed calculation of multiple scenarios) for what to take first? Cash first? DC pension first? A mix throughout (what ratio)? My personal allowance is already used up by my state pension. Any advice…
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Accumulation vs distribution
I think I understand the core concepts here that accumulation reinvests dividend to focus on growth and distribution pays dividends to focus on income. But can someone explain how this works out as an example giving say Vanguard life strategy 100 with £500,000 in a SIPP within interactive investor over a 5 to 10 year…
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Was GMP reconciliation brushed under the proverbial carpet after our COPE figures were set in 2016?
The question is in the thread title.
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Protected pension y/n/maybe
I am currently in a state of anger with my pension. With the incoming changes to the pension age I wanted to check if standard life offered me a protected pension age of 55 for my scheme rules. Low and behold they don't even thought it is a pre 2021 pension :( Different schemes seem to have different rules, and it seems…
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How long will my DC pot last ?
Hello, One of those days at work when I really really really want to get out of this trade mill.... need a bit of reality slap on my face so came here with a question.... DC work pension. Currently ~£600k, should reach £850k (contributing ~50k via sal sac + hopefully some growth) in 3-4 years when I'm 57 (my prior…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: Guide discussion: Voluntary national insurance contributions by JimTheseus
14 November at 10:10AM
