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New Job pension - not salary sacrifice
Hi I have just started a new job and the work pension is apparently not done by salary sacrifice. The employer will contribute 5% salary but employee contribution is not by salary sacrifice. However, apparently if I opt out of the nominated scheme and chose my own personal pension i can still request the 5% employer…
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New SIPP with HL to create 3x Small Pots
I have been doing lots of reading on here (thank you all) and think I understand a possible sensible path in the first couple of years of early retirement. Please tell me where this plan is likely go awry or incur the wrath of HMRC. This or next tax year may be the last where I am a 40% taxed employee as I plan to retire…
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Difference between AVC and SCAVCs (shared cost AVCs/Salary Sacrifice) - LGPS linked?
I am trying to understand the difference between AVCs and SCAVCs (otherwise known as shared cost AVCs or Salary Sacrifice? Is the only difference that SCAVCs have the added advantage of the NI savings or is there anything else? If relevant, either option would be 'linked' to my LGPS pension in that it would be a separate…
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Taking DB pension early.
Hi there, Noob, looking for advice in the pre-retirement wilderness, if anyone can advise. I’m hoping to retire in 5 years (at 60) and have a small DB pension forecast to be worth 5k pa with a 15k lump sum. I’m considering taking it at 55, in which case it is forecast to be worth 4k Pa and a 12.5k lump sum, then pay it all…
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How do you "let go" of your working life?
I'm really, really struggling with the decision on when to retire and am hoping that there are others out there who have also struggled and may have some words of wisdom on the topic. I am now 66, a state pensioner, and in receipt of a couple of DB pensions, but I am continuing to work in 2 roles (associated with the same…
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Old DC Pension Schemes from previous employers
Hi all I've recently been looking at old DC schemes still with companies from previous employers like Royal London and Standard Life . Some of these go back quite a few years and i thought I'd better look at annual charges. One charges me 0.44% per year, another charges 0.35%. I'm conscious of the compounding effect of…
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Moving pension to low risk fund
I've been slowly building up my defined contribution workplace pension knowing that I will want to start to take it relatively soon, however the pension funds are still classed as 'balanced', which probably means moderate risk. I'm nervous about a stock market crash and a big chunk being wiped from the value of my pension.…
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Sipp Pension
Hi all, Thank you in advance for any help received. I am looking to open a sipp pension and make payments into it from my limited company and i am the sole director. I have not opened a pension before, but i am looking to see if there is a way i can use my allowance from last year as well as this year. So pay £60,000 into…
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Not overly impressed
Following a review of the feedback received and the overall benefit to our colleagues, the Company has now decided to go ahead with the proposed pension changes highlighted below: • Changing the pension scheme into which colleagues are automatically enrolled. • Providing all eligible colleagues the option to pay their…
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Pension Review - Reeves IFA
I have recently started to review my pension pot and have and was contacted on LinkedIn by a company called Reeves IFA (https://www.reevesifa.com/) they are 92nd on the FT Top 100 IFA list and have a TrustPilot score of 4.7 from 96 people https://uk.trustpilot.com/review/www.reevesifa.com What they had to say seemed…
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DB Pension & Rules around funding Current Employment DC Pension
Hi All Hoping you can help me with my retirement planning strategy - I have an old DB pension that I could take in a couple of years time - lump sum and then monthly amount. If I am not retiring at that point, could I pay the equivalent of the monthly amount from my salary into my current DC work pension, so I retain the…
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NHS Physio pension and CPI
May I ask a question? I’m a NHS physiotherapist, aged 58 1/2 and being made redundant. I have contributions in both the 1995 scheme and the 2015 scheme. I plan to take my earlier 1995 pension at 60 and a much actuarily-reduced 2015 pension also at 60. Will my existing NHS pensions go up by CPI+1.5% for the next 19 months…
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How to ensure annual allowance is fully utilised
Hi all, Asking for guidance on behalf of my son. For context, he's one month into his first job. Salary ~£35k plus possible performance bonus. DC scheme, employee pays 1%, employer 8%. Employee can increase up to 25% of salary but with no further employer contribution except for half of national insurance savings due to…
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Balancing pension and S&S ISA
I'll start this thread by saying I'm going to be 46 in a few months time, so it's going to be over a decade before I can access my pension. Bearing that in mind a lot of what I am looking at is theoretical, and by the nature of the beast involves making various assumptions which may or may not be true. Still, it's a…
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confused about pension summary
Hi everyone, sorry to have to ask this which is probably just me being stupid, but..... I retired aged 56 last month from local government and have had my summary today which says i have 16 years and 87 days pensionable service @1/60th's on a final salary of £38,578 gives me a pension of around £12k a year. That is as…
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Civil service pension modeller
Im thinking of early retirement 2026. Also thinking of giving up a little bit of my pension for slightly higher lump sum. I know the modeller figures are not 100% accurate.. but does anyone know how close they might be. Im thinking of basing my decision on what the modeller is showing for age 64 but working further 6…
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Net Pension Calculation
I am currently contemplating taking a voluntary severance package along with accessing my local government pension 7 years early. I am currently waiting for a pension forecast from the pension fund. My employer will be required to pay the strain costs to the fund. To help me make my decision I would like to know what…
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Short Term Money Market Fund or Cash ISA
I’m looking to de risk and set aside enough money to fund 2 to 3 years of spending to bridge until I can take my final salary pension in 5 years time enabling me to retire in 2 years time. Would I be better to use Short Term Money Market Funds or to transfer money out of S&S ISAs to a fixed Cash ISA? Also does anyone know…
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Private Pension when not working
Hi, I live off a widow pension, carers allowance for my daughter and interest from savings, total income is about £20,000. I was thinking I should start a pension and wanted to put in 2880 in a year but would the government add to this with tax relief as I don't work? From what I've read you have to earn under a certain…
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Money markets
How do people use these like the Royal London short-term money market which looks like it’s been paying 4.6% though I guess going forward, it’s gonna be more like 3 1/2 to 4% ? do you use them as an alternative to ISA savings, or for the short term between changes in your investments while you are waiting for a favourable…
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Most recent: Voluntary NI contributions cut off 2025 by Silvertabby
19 December at 7:04PM
