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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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Pensioner frugality- not spending !
Wondering if anyone has been in a similar situation. I have an elderly relative in their mid 70's and still fully mobile and owning their home (lives alone) who has a large lump sum of approx 200k in a cash ISA. They spend little, and live off the state pension shopping in lidl and charity shops. We tell them to enjoy the…
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Annuity 5% increase per year or RPI
I'm thinking an annuity will be the way to go for one of my SIPPS (currently around 360k). I don't intend to take the tax free element (or maybe I should?), so 100% will be used to buy the annuity. if I do buy an annuity my conundrum is do I get a 5% escalation or an RPI? If the BoE target is inflation target is met, or…
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LGPS Lump Sum Standard benefits vs maximum conversion
Hello. My mum has asked me to make sense of her pension and I've proven a bit useless at understanding it so I'm here for help and advice The form begins with "A commutation form on which you elect to receive a reduced pension of £92.35 and a retirement grant of £615.55. However, after considering the compounding option,…
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Consolidate in Scottish Widows or NEST?
Combined total of 105k in Scottish Widows and NEST. No ongoing contributions. Which is best to put it all in for drawdown, or is it same difference? Thanks
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Civil service fixed term contract alpha pension scheme query
Hi there, im looking for some help please. I've been told that as someone on a 23 month fixed term contract that I would be ineligible to join the alpha pension scheme, but I can't find any documentation on the CS pension scheme to support this. Is this true? Could someone provide info on where to look? Thanks in advance…
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State Pension forecast vs actual payment
I am due to start getting my state pension next Feb. The forecast amount is £12695.05 per year. I have received the letter advising the amount I will be paid and that is £973.20 every 4 weeks. So 13x 973.20 comes to £12651.60 a shortage of £43.45. Can anyone explain why there is a difference? Thank you
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Annuities - safer and better? Bamboozled!
My head is spinning trying to predict the future amidst everything and amidst my reticence to have unknown things affecting my future due to stock market volatility and the actions of Trump and Putin and China etc So I have 639,000 that can go into an annuity (some from pension and some from a house sale) which seems to…
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Thoughts on Delaying Claiming Civil Service Classic Pension
Hello, first post here, as I noticed some great advice on Civil Service pensions in the forum. I would be grateful for any thoughts or experience on my current dilemma as to when to claim my preserved civil service classic pension. Here's the situation: I turned 60 this year, so am eligible to claim my preserved Classic…
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Retirement planning advice
Hi I'm 56 working in ft employment, earning £56,000 p/a with a rental property bringing in £10,000 p/a. I have a local govt pension that I’ve deferred (25 years in local government) and some other savings. - Local govt AVC £65,000 - deferred since leaving local govt - Vanguard S&S Isa (Lifestrategy 60/40) £80,000 - not…
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Partial retirement lump sum
I am due to take partial retirement at the beginning of of next year. Am in the 1995 with scs and the 2015. Can I take both lump sums. Or if I take the 2015 one early what will be the penalty. On my TRS there is a standard and alternative amount what is the difference and which one can I take
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Kingfisher Pension Quote
Hi, I have a tiny deferred pension with Kingfisher and have been provided with a quote with 4 options. I would like to take a lump sum with a yearly pension (Option 2), but I’m confused about Option 1 which indicates it’s just a pension payment and no lump sum, but has a lower annual pension amount and a lump sum that…
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Pension Tax Free Lump Sum
I am due to retire soon, I have a work Stake Holder Pension with Aviva. I have decided to take my tax free lump sum and then an annuity with the rest, which I will get at the enhanced rate due to health conditions. Aviva told me previously that it takes about 3 months to set up the annuity. My question is how long does it…
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HMRC to go after pension savers who returned their lump sum
“HMRC to go after pension savers who returned their lump sum Savers who returned their tax-free lump sum to their pension face a surprise bill of up to 70pc, following clarification from HMRC on the use of tax relief...” Ouch! Well the forum did warn people not to make decisions based on pure speculation… Anyone reading…
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Draw down from my pension to pay debts but not ready to retire yet
Hi - long story short (or as short as I can make it) . Company Director, with about £115k in a SIPP. 58 years old, not planning to retire yet. Company has been through a rocky patch since Covid but profitable again now. I'm thinking of drawing down the 25% tax free amount (around £28k) from my SIPP) to reduce personal…
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Tracking my lost pension
Hi All Looking for some help. I was made redundant in 2020 due to Covid pandemic. I worked as a store manager for Antler luggage and they went into administration the same year and it looks like they came out of administration under a new name. I don't have the paperwork anymore of the workplace pension provider and I've…
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Companies offering Employer Matched Contributions & Employers NI
The company I work for currently offer neither of these, which I would like to try and influence. Being able to quote examples of any FTSE peers that do offer this kind of arrangement would be helpful. If you are aware of any companies offering an employer matched % and/or Employer NI contributions would you post the…
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Lump Sum Contribution and Immediate Draw Down
Hi Experts! I recently turned 55 and whilst I'm not looking to take any tax free cash from my pension just yet, I have a scenario which I'd like some advice on. Over the last few years, rather than overpaying on my mortgage, I've been saving at a more favourable rate and have about £30K in an ISA. My mortgage deal ends…
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25% of Pension into stock&shares ISA
Hi I have a 2 small private pensions which I haven't paid into for years and amount about a £70k pot. (My main pension is a civil service one which will be my retirement income). I'm 55 and thinking about taking 25% out of each private pension and putting £20k into a stocks and shares ISA. Then combining the remaining…
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Civil service- EPA and annual allowance
Hello Can anyone confirm whether my understanding of EPA is correct? I'm in Alpha and at the moment am buying extra DB pension and paying AVCs. This has taken me over my annual allowance but it's ok this year as I have some allowance to carry forward. However, from next tax year I won't have any allowance to carry forward.…
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6.3K comments
Most recent: Voluntary NI contributions cut off 2025 by Silvertabby
19 December at 7:04PM
