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Drawdown options
My husband and I have spent weeks talking and emailing with Aviva pensions but get told something different every time, hence would be grateful for any further thoughts here. My husband took a drawdown Fund 3 which is supposed to be invested in a diverse portfolio, but on checking last week, it's invested in bonds at 99%…
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How much pension to move into drawdown
On behalf of my husband. He has a SIPP of £1,200,000 (it was of course more a couple of weeks thank you Donald and Elon!) He retires today before state pension age. We do want the £268K to pay down our mortgage. My question is, does he move the whole amount into drawdown or just the £1,073K to generate the £268K? Are there…
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Additional private pension
I am 61 - drawing ill health retirement pensions from 2 different government employersMy State Pension is on track for full payout in 5 years time - my SP contributions are being made up by DWP.Is it worth (or even possible) for me to invest additional funds now - in an additional private pension - in order to gain from…
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last chance to top up DC
I finished completely last September from part time and am thinking of topping up my DC before end of the tax year as will be my last chance. Want to check a few bits from the knowledgeable people on here before I do so to check my own figure. Figures are, pension gross contribution last tax year 23/24 £27K gross inc…
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Ratio
I have been thinking how to replace my current income (btl) as I have 2 years savings and 10 years to invest. All my current liquid assets are in ISA, and I need an income of at least £15K p/a , I actually need £40K p/a Currently I have 58% in S&S ISA and 42% in cash ISA and will be transferring my S&S ISA to iweb and to…
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State Pension
Hello I have been getting the state pension for 4 years every 4 weeks. Every year they have stopped my pension and I have to fill out a Life Certificate to get restarted. Last February they stopped it and I sent the form. They paid me March, April and May and then stopped it again. One person sent me an email and said they…
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Anyone had success in obtaining free NI Contributions back dated
Hi, I was working for the Council during 1 year that I am short on 39 weeks out of 52 during 2010. I did had a couple of weeks sickness but not 39 weeks. In 2013 I went to college so I also need to claim 43 weeks NI for that year. Any advice and tips on how to obtain free back dated NI from DWP or HRMC? Who’s the best to…
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Hello!/Grey Parrot/Midlands IFA
Hello all, I’m new here, I’m looking for a bit of advice at what feels like a bit of a financial crossroads in my life. I’m 59 1/2, still working part time, and I have a partner who’s about to retire. She’s well provided for with a LGP and state pension. I have a number of DC pensions from previous employment totalling…
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National Insurance gaps due to working holiday visa
Hey everyone. I was on a WHV in Australia from Jan 2013-December 2014, some part time work done over there. I've checked my pension forecast and I can claim my pension in 2051, it states that my forecast is £221.20 a week, £961.83 a month, £11,541.90 a year. It also states that the estimate based on my National Insurance…
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Teachers Pension
Hi everyone, I wonder if anyone has had any luck leaving the teachers pension scheme? I left teaching last year and now have a new job and wish to transfer what I have into the new scheme with my new job. When I contacted Teachers Pensions, they implied that I can only withdraw my pension if I am moving to another public…
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IFA trying to sell me on inheritance tax avoidance strategy for my mother (who has dementia)
I've been talking to an IFA about an immediate-needs annuity to cover care costs for my mother (I have power of attorney), but the IFA is suggesting another meeting to go over my mothers savings and property value and is saying they can 'protect it' from inheritance tax without my mother needing to give anything away. I…
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Enduring POA (Northern Ireland)
Has anyone any experience of setting up Enduring POAs in Northern Ireland? Reading up on some of the blurb it seems like you don't have to register them straight away (the way you are recommended to do for the rest of GB) - you just do this when you actually need to use them. So I wonder whether it might be worthwhile…
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TFLS at £268275 + adding extra when retired
Hi all, When I come to retirement, is there any advantages keeping my TFLS in my pension wrapper , if I'm at the £268275 max, as it won't grow anymore? And also, is there any point adding the extra £2880 to my pension when retired , if I take it back at 20%, with no growth ? Thanks
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Can I transfer my NI contributions to my husband?
I work part time and intermittently pay NI contributions and have already paid a full stamp. My husband took early retirement and has not paid any contributions from 2022/23. He has gaps/shortfalls in his predicted state pension which he can buy but I wondered if I can transfer my NI overpayments/contributions to his…
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Pension annual allowance and £100,000 - £125000 ‘super tax’ vs salary sacrifice
Hi All I currently earn over £100k and take full advantage of my annual pension tax allowance of £60,000 in order to keep my salary below £100k. I still have a few thousand of headroom before I hit £100k after I have contributed the maximum £60,000. Due to fiscal drag and frozen allowances I am likely to use my remaining…
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Change of Workplace Pension Provider
Morning all My company has changed my workplace pension provider 3 months ago from Aviva to Aon. Initially I've been placed into the Management Core Retirement Pathway 2049-2051 fund. Firstly my pension fund has lost 8-9% in the last 3 months. Does this seem right? I do know it can go up and down. Secondly I have 25 funds…
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Why am I being charged for draw down advice?
Hi there, I have an old pension that predated the draw down types. I sought free independent advice from a recommended adviser for Pension Wise but I felt all they were doing was trying to sell me their product. I then went to my pension scheme and spoke to someone who I thought was employed by them but turns out to be an…
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Pensions, interest and tax code; help wanted!
Over the last 12 months I have begun to receive my state pension; on top of a teachers' pension and small one from a workplace. I also receive taxable interest which is now above £10k due to current interest rates. Over the last couple of years - before the state pension - I've filled in a self-assessment tax form; and…
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Pension Input Amount for 2024/25
Another related question from me now that I have actual figures from my employer. My public sector DB pension provider has just calculated my 'Pension Input Amount' for 2024/25, which is around £32k (this includes monthly AVC contributions to them as well). My gross salary for 2024/25 will be £57k. Given these numbers,…
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Pension transfers - benefits vs rights
What's the difference? My daughter used to work for Shetland council and has a small Local Government Pension Scheme (Scotland) pension amount to transfer to a Private Pension/SIPP. Because her employment was under two years their letter stated "Your pension benefits require to be transferred to another pension scheme or…
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