Pensions, annuities & retirement planning

Hello. I have recently tracked down a workplace pension that I had paid into for a few years from some while ago. Long story short- Age 55 , self employed sole trader ( for a long time) and only just (rather late) started a SIPP following some great insight on this forum so literally just late navigating & understanding…

Does anyone have any experience of moving their savings and/or DB pension to My Wealth Private for them to manage? I'm approaching retirenment in BT. Their seminars and individual advice has been very good so far, but I'm undecided about transferring everything to them to manage, as I can find very little around their…

I joined the nhs in the late 80s and stupidly didn't join the pension scheme. I took out a private pension in the early 1990s, with which I purchased nhs pension years in mid 1990s. A colleague told me she found an old contracted out of serps pension. Could I also have a similar pot from the early 1990s? Checking on…

Could anyone clarify a question on SIPP contributions please? I would like to open my first SIPP and pay in a lump sum of about 100K I have my Nest contributions directly from salary which were approximately 2K last year. This is the only pension scheme I have been contributing to and it started 8 years ago. Given tha, am…

https://www.gov.uk/government/publications/pensions-2050-evidence-and-future-priorities-interim-report The interim second Pension Commission report has come out today. This Commission is exploring the long-term questions of adequacy of pension provision and retirement outcomes in the UK. The Commission will publish and…

https://global.morningstar.com/en-gb/personal-finance/how-make-your-money-last-retirement i know some posters on here say they have 100% equity , and 60:40 seemed to be most common, but this gives food for thought , for once retired , if your exposure should be lower Mick

My husband and I both have old dormant pensions that we do not contribute to but are still increasing due to investing. We were thinking of withdrawing a lump sum from our from this pot to pay off our mortgage; as we both still are working and both are in the 20% tax bracket and contributing into work place pensions. If we…

I have a link to the various CSPS guidance Notes but I am struggling to see how to work out my reckonable service from the guidance notes. Edit - removed identifying detail

My wife is 68 and has a Personal Pension with Octopus (formerly Virgin) called a Self Drive. . Octopus do not permit the taking of a 25% tax free lump sum and also only pay out as lump sum. They suggest she transfers it to a company that does. Do anybody know of a company that permits transfers in - then a 25% She has her…

Just read the latest email email explaining pensions. Read the low incomes tax reform group website too. What's to stop someone who is age 55, working and in the 20% tax band from starting a small pension say £6000, getting 25% tax relief making it £7,500 Then cashing it in. Getting 25% tax free £1875 and paying 20% tax on…

I'm hopefully thinking of retiring in 2-3 yrs time. Will be around 65 at that time. For a years, I've been able to both save in Isa's & contribute to my pension (sipp) Self employed sole trader, if it helps. Lower rate tax payer. I'm a bit unsure which to contribute to more. Atm I have around 130k in pension & 110k in…

I have an UNcrystallised SIPP with Vanguard, worth £90k. It comprises £64k in FTSE Dev World ex UK & £26k in VLS60. For the first time, I have requested to crystallise £20k of VLS60 in order to take £5k as a TFLS. This would leave VLS60 with £6k uncrystallised & £15k in drawdown, or so I was led to believe. Vanguard sent…

Hi, I have an Avival Personal Pension Plan that I've had since 1989 so it's the old style plan with limited retiremnet options. I'm 64 and my pot is around £140000 so not that great and would give a low annuity. I'm interested in drawdown as I work for myself and am happy to contunue working part time. Any advice on…

hopefully this kind of thing is ok. I’ll try and keep it specific - any questions I’ll do my best to answer. I’m at the point where I’ve refined as much as I think is reasonable without going around in circles. Potentially willing to do a paid IFA pass but that is around 2-3k so might wait until closer to retirement date…

I am being made redundant (statutory) on 31st May after 36 years service. I have a deferred DB pension (2011) and another pension with a pot of £60,000. Both pensions can be accessed in August this year when I am 63. I have poor health and no financial dependents, 1 adult daughter, and I am divorced (ex is deceased). I…

So I've never worried about my retirement savings or pensions - I've been paying into a Civil Service pension for over 20 years and thought that would be all I needed to do. Then I was widowed a couple of years ago and now my financial situation has changed a fair bit. I've covered off the big things: Mortgage is paid, no…

I was a nurse at a london hospital. I worked there for two years and I joined the NHS superannuation scheme in 1999 ish. Fast forward to today and I am trying to locate my NHS pension. I contacted the NHS pension tracking system in Newcastle and they said, they have NO RECORD of me being in the scheme, even though I showed…

I am planning to purchase a fixed term annuity and want to understand if there is any difference in tax treatment between, for example, an annual income of £30,000 for 10 years followed by a maturity value of £30,000 OR an annual income of £30,0000 over 11 years? I am not quite sure of the correct terminology for that…

I would greatly appreciate advice regarding my pension arrangements due to a pending change in employment. Approximately six years ago, I transferred my Local Government Pension Scheme (LGPS) benefits into the NHS Pension Scheme when I took up a position within the NHS. The transfer value at that time was £110,000. My…

I have this modest pension I’ve been getting for 3 years now. I recently found an old “deferred pension certificate” that I think suggests I should be getting a larger payout than I am (by about 30%). I cannot pretend I properly understand it and have requested details of calculations from the provider, which I now have.…