-
small pot query - SIPP now uncrystallised if small pot taken
Hi, I am doing a small pot of £10K this year (and plan on one next tax year and final 3rd one the year after that). I transferred from Vanguard to HL in October last year in planning for this. My SIPP with HL is essentially static in that I no longer do monthly payments in (focus on employer DB AVC). Current value fairly…
-
Using claimed LGPS pension to pay in to new SIPP
Hi all, I'm nearly 60 and about to start receiving an LGPS pension from a previous job I was made redundant from. I work somewhere else now and I'm paying into a separate LGPS pension there. As my income will increase once the payments start coming though, can I use more of my salary to start a SIPP? I know there are rules…
-
What way to go?
My wife is 63 and currently working as a teacher and looking to retire next year when she’s 64. She has 2 pensions, 1 with TPS and the other with HBOS, and she has a multitude of options as to which way to jump with her pensions – TPS – Pension of £23683 and TFLS of £33,322 OR she has the option to buy an additional lump…
-
Need a reliable IFA (for sourcing an annuity only)
As per the above, I'm looking to take out a lifetime annuity and struggling to locate a professional who can help me to understand the options and get a suitable "deal". I've used Unbiased, but initially they only suggested tied IFAs (tied to specific products, not completely independent). They then sent me a link to a…
-
SIPP experts! I'm struggling between LGPS APC and Vanguard SIPP
Hi, I'm nearly 60 and I want to give my pension a final boot up the backside. However I'm not sure what route to take and I'm hoping you geniuses can help... I'm paying into an LGPS DB scheme which I'm planning to continue as well as maxing out my AVCs before retiring in five years. I will have around £1k a month left for…
-
Pension credit under immigration control
I’m trying to help an elderly friend of mine get some extra income. she’s from Canada and been living in the UK since the 60s but doesn’t have British citizenship. she has state pension of about £100 a week. she applied for attendance allowance and received a letter back saying she wasn’t eligible for that due to being…
-
The Planning Crowd / Simpler Law
I have had my will and POA with these people for 5 years. I received a call to say I was due a review; after the review (which was more like a sales pitch) I was told some changes would be needed to my will, The cost would be £3600 approx. and that is with a 20% discount: there was also a document storage fee of £18/…
-
Get your State Pension: working/living outside the UK
I’m presently trying to claim my state pension, but having difficulties with 2 of the questions on the .gov.uk ‘Get your State Pension‘ form which asks about working/living outside the UK. I have lived and worked in the UK for the last 37 years and I have 44 years of full National Insurance Contributions. I did however…
-
Pensions, Tax and debts....how to best make my money work
Hello all. Newbie here. I've trawled through the forum to find answers but none have hit the spot. So for context I have the following pensions to date:- Ukaea final salary DB from 1997 - £10k lump and £4.5k per year payable at 2032 Pension Bee (combo of old DC amounts) - £60k Current Ave Salary DB with the medical reserch…
-
Tapered pension contribution
Hi, I’m trying to understand what is permissible as my husband has received a payrise (via a long term incentive award), where he will receive shares that vest over a 3 year period. We are obviously delighted & I’m trying to understand the impact on his pension contributions. His current arrangement means that his…
-
Trustee Proposed S32 Buyout Policy (Aegon)
I’ve finally managed to get my brother to review his pension
position; 3 years before he’d like to retire, and we are in the process of assessing how he wants to take retirement income and potentially consolidate some / all of the numerous pensions. He has a policy (as above) and I just want to check my
thoughts regarding…
-
Inheritance and Pension
Hi, Looking for any advice on the following, any guidance would be appreciated. It's likely I will benefit from a inheritance in the near future. Im 55 and for the last 5-7 years I have been contributing as much as affordable via salary sacrifice into my workplace pension (my employer matches up to around 10% iirc,…
-
Pension payment after death
Hi don’t shoot me down , this was a dinner party discussion and not an answer could be found amongst us . scenario ..70 year old male collecting a full uk state pension , does his spouse of 38 years who is 63 years old , get a % of his pension should he Die, before she reaches pension age ? She is fully contributing , to…
-
NHS section 95 early retirement
So a person can retire at 50 (with actuarial reductions) if they joined NHS 1995 section before April 2006 (55 if joined after April 2006). My questions are: 1. My wife joined NHS Jan 2000 and entered scheme. As her retirement age from government is 67 and early only from 57, does the government age somehow supersede the…
-
Pension fund companies practices when you cash in your pension
I have recently retired and in order to do so I needed to contact my pension provider to sort out getting an annuity. Normal stuff you would think but perhaps I was a little surprised when the cash lump sum and amount used for the annuity was not as much as I thought it would be. I got a quote for the cash lump sum and the…
-
Pension adviser charges, pros and cons
We've just been talking to a pension adviser (sourced from unbiased.co.uk) regarding my wife's assorted pension schemes. She has 4 DÇ schemes which are worth c£98k collectively (two of them are worth less than £3.5k each). The largest pot is with Aviva (c£77k), then Clerical Medical/Scottish Widows (c£16k). My wife has…
-
Do I still need certificate from an IFA for Defined Benefit pension after policy term end at age 75?
For "certificate" use "written confirmation". Prudential provide a printed form for IFA to sign which confirms that they have been consulted but, importantly, not what advise was given. I took out a Retirement Annuity Plan(S226) in 1984 with Scottish Amicable
when I was 34 with and of term end date of my 75th birthday…
-
USS pension - taking maximum TFLS in Scotland?
Hi all, I'm going to be taking VSS from a Scottish university this summer and intend to take retirement at the same time. I've been mulling over whether to take the standard pension offering and 3 x pension TFLS or to take the slightly smaller pension and maximum TFLS. My concern with taking the standard pension offering…
-
Help with state pension top up (from being living abroad)
I'm 52 and I have 22 qualifying years of NIC's and my forecast is the full pension when I contribute another 13 years of NIC's which will take me to the age of 65/66. I did work and live in Spain from 1998-2010 so In January this year I applied to HM government to see if I can fill in any gaps on my NIC. Today I've…
-
Retirement planning sense-check 2025
Hi All It's a year or two now since I sense-checked my thoughts around my retirement planning, particularly bridging the gap between ages 60 and state pension (67 on current rules), and would value any comments that others may have. Background: * Age 54, no dependants or partner * Combination of Classic and Alpha CS…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
700 discussions
6.2K comments
Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
Today at 3:16PM
