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Life Plans-Pensions, Work and Health issues
Hello, I have never posted before and just wondered if anyone can be give me advice re: Pensions, Work and Health issues. These are my circumtances: -I had quite a difficult upbringing due to trauma and have had physical and mental health issues from age 17. I had Saturday/holiday jobs from age 14, but from 17 things were…
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When did you feel financially secure?
Ok so I'm 49. Recently had an unexpected windfall and paid off the mortgage. I thought I would feel different, but nothing. I have probably about 7-10 years left at work. I don't really enjoy my job but it's secure and trying to match my current wage at nearly 50 is unlikely. Pension currently growing nicely with about…
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GMP or COPE
Hi, I'm sorry if this sounds naive, but is COPE the same as GMP? I recently retired. I bought back as many of my missing National Insurance (NI) years as I could (thank you to the forum). My State Pension is £223 per week. HMRC wrote to me saying my Contracted-out Pension Equivalent (COPE) estimate was £39.98 per week.…
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True potential costs and performance
I think with the power of hindsight I was just being lazy when I invested with TP, a minefield for the newbie with little understanding or ind advice, £250k investment has cost me £12k over 3 years which seems expensive to me. Is it relatively easy to transfer this lump sum to another fund and reduce costs increasing…
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International retirement savings fund - tax implications of withdrawing lump sum - help needed!
While working abroad several years ago my employer set up a retirement savings fund with Zurich International for me. I am now back in the UK and have been asked what I want to do with this fund and I could really do with the lump sum however I don't understand the tax implications of withdrawing the funds. For reference,…
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Workplace pension opt in or out
I'm a 61 yr old retired police Inspector but I work as an Exam Invigilator earning less than £3k a year on a casual employment contract. My Council employer has auto enrolled me in the workplace pension and I feel that I need to opt out as the benefits over the next (max) 5 years are small compared to my existing pension…
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UK Gilts (eg TR32) vs Bond Funds for Retirement Portfolio Balance (7-Year Horizon, Retiring at 57)
Hi all,I’m looking for insights on structuring the bond portion of my retirement portfolio, specifically whether to hold individual UK gilts like the 1% Treasury Gilt 2032 (TR32) to maturity or opt for bond funds with a similar duration. Here’s some context to help frame the discussion: Background:* Age and Retirement…
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Standard Life Pension
Anyone any ideas on best investments for a standard life pension in drawdown? Don’t really want to transfer as it’s free to enter drawdown and charges are discounted (as it’s a group pension). Not one for taking significant risks.
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Salary sacrifice and carry forward
I appreciate I have asked a similar question previously but I just want to sanity check something. (these numbers are rounded for ease) salary £105,000 employer contributions £6,000 i am via salary sacrifice paying in £57,000 pa (54%) so with employer contributions I am at £63,000 pa so taxable income is £48,000 Am I…
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CMC SIPP / ISA cashback ?
HI, Has anyone received their cashback from the last offer? Was meant to be paid by today, but nothing for me yet Thanks
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Looking for some AVC & Pension advice
Hi everybody, For context, I am a 28 year old "community waste operative" for my local council & have been in the position for 2 years now. Currently, due to my salary, my contribution towards my LGPS is set to 5.5%. I am in a stable enough financial position to increase my pension contribution and following contact with…
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Help with Beneficiary Drawdown Option
Hi, I have just been informed, yesterday by Standard Life Bereavements, that I am to receive 50% (my sister the other 50%) of my deceased dad's SIPP. It has been offered with a choice of either a lump sum, a drawdown, an annuity or to transfer it to an existing pension pot. Im a bit confused as I cant find any information…
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SW charges and discounts - is this good value?
As part of generally getting my stuff together in financial matters, I've finally got around to looking at my various work pensions - in particular charges and whether they're good value. I was lucky that in my feckless younger days I was signed up to the (Scottish Widows) company pension, assigned to a middle-of-the-road…
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Lump sum pension
Retirement is 1st January 2026 Should I take a tax free lump sum out of my private pension please Thamks
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I'm embarrassed that I can't work this out - any help gratefully received.
Me again. I'm so ashamed at my lack of mathematical skill and my lack of understanding. This is just mortifying. But I am still struggling with pensions. My husband earns £84,500 a year. We want to maximise the 40% tax relief he would get on his pension by paying the 'extra' allowance into a SIPP each year. He has a…
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HSBC Global Strategy Vs Vanguard LifeStrategy
Hi all, Looking at going DIY so just starting to look at mixed asset funds, I want to dump the cash into a small number of funds that have a decent mix of sectors and countries. So far I've come across the Vanguard LifeStrategy and HSBC Global Strategy funds, I'll be checking them out on trustnet but just wondering what…
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Civil Service pension scheme - Alpha Vs Partnership
Hello, I will shortly be needing to choose between the Alpha or Partnership scheme when I start employment with the Civil Service. I know next to nothing about pensions. A bit of background, I'm 54 and until recently I was an expat having spent most of my working life overseas. No pension provision here in the U.K. at all,…
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Trying to understand pension changes and feeling out of my depth
Hello all. I've just been notified by my company pension provider, L&G, that they are going to change the fund my pension is in.It's currently in L&G PMC Multi-Asset 3, and they have notified me that they plan to change it to the L&G PMC 2030 - 2035 Target Date 3. They have not explained why, other than a very generic 'we…
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Trying to calculate equal retirement contributions?
Before OH went working for the NHS we contributed to our retirement plans equally. We earned roughly the same each month. I actually earned a few £100 more in the pocket by the end of the month due to doing a hell of a lot more hours but it was roughly the same & so we put in the same - SIPP L-ISA Workplace pension - both…
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Voluntary 3 NI contributions from abroad and European pension aggregation
Hey all I'm sure I've probably totally misunderstood how aggregation works but if anyone in the know could advise on my hypothetical future situation I'd really appreciate it! I am projected to have full 35 UK years through paying voluntary NI contributions from abroad , but 8 or 9 of these will be non-overlapping years at…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
721 discussions
6.3K comments
Most recent: Guide discussion: Voluntary national insurance contributions by JimTheseus
14 November at 10:10AM
