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Question on adding £2880 to a SIPP
Hi, In this tax year I have so far paid £1000 in to my SIPP, which at the time was covered by earned income to get the tax relief. As I now no longer have any relevant earned income, can I still add £2880 this tax year, or do I have to remove £1000 from this total, i.e. I can now only pay in a further £1880? Hope that…
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Best use of wifes SIPP
Hi FolksI am retiring at my DB Scheme,s NRA of 63 in Feb.Will then have a combined DB income of £50k and a TFLS of over £200k.I have been taking an old DB for the last 18months and using it for AVC contributions, hence the large TFLS. If I die, my wife gets 2/3 of my present scheme and 1/2 of my old scheme.My wife is…
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Pension position for overseas tax resident
I am a UK citizen, resident and tax-resident in Japan. I hold a pension with Vanguard UK from which the 25% tax free amount has already been withdrawn. What would be the tax position if I were to withdraw some or all of this pension fund, eg is it liable to income tax and/or capital gains tax, and in which country? NB: I…
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Annual Allowance Calculation - Classic, Alpha and AVC
Trying to get my head round my Annual Allowance before
during and after Partial Retirement Here’s my thinking: Pre retirement year Classic: Classic Pension at end x19 minus Classic Pension at
beginning x 19 r evised upwards by CPI* Classic pension value devised by multiplying by 16 and
adding LS (effectively multiplying by…
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NHS Pension - Taking Pensions Early
I am hoping you can help, and tell me if I am missing something. At 57 my partner has had her NHS pension updated, and with the McCloud options : Scenario 1 - McCloud 1995 Scheme - Pension at 60 yo £7000 2015 Scheme - Pension at 67 yo £2100 If they took the 1995 and 2015 (reduced by 31%) at 60, they would get a combined…
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Should I start planning to move money from my SIPP to ISAs?
Some basic facts and figures. Age – 59 Recently early retired DB Pensions (just started receiving) - £26,500 / yr fully indexed
linked SIPP - £500k approx. SSISA - £350K My number – I need about £35k / yr Cash – c.£70k for emergencies and such like. Mortgage free and no debt. SP – full amount expected. My objective is to…
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Cashing in Pension Pot
Hi if your in your 70s and still have an invested private pension pot of £85K not used whats the best way of getting it out esp if your in poor health.
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Third State Pension age review: independent report call for evidence - published today
The government announced the launch of the third review of State Pension age in July 2025. This review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. As set out in the Pensions Act 2014, this review will consider evidence from 2 reports:…
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How much can I put into a SIPP whilst receiving a salary and two DB pensions?
I'm 60 and I started receiving two DB pensions (a Civil Service one and a Local Government one) both from previous employments. I'm working reduced hours in my current job (4 days a week) and that comes with a DB/DC pension (USS - Univ's Superannuation Scheme). I earn £35K a year from my current job but pay AVCs via salary…
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Its like Groundhog Day....
Once again the press are saying Reeves will tax the 'tax free lump sum' Will they ever stop.... or Apologize for previous LIES???
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LGPS Scotland - Ill Health Retirement
Hi all, newbie here, so go easy on me ! If I can, I'd just like to gauge the thoughts of anyone on here who has some knowledge of LGPS Scotland and their Ill Health Retirement process. My wife is 58 on her next birthday in February. She has been an employee of the Local Council working in the pre-school nursery environment…
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L&G moving Work Pension from "PMC Multi-Asset 3" to "Lifetime Advantage Fund 3" - is that better?
As stated above, I got an email from L&G Pensions today that they intend to move my Workplace pensions (from my previous employer) from their "L&G PMC Multi-Asset 3" scheme to the new "L&G PMC 2040- 2045 Lifetime Advantage Fund 3" scheme. The only thing I know about these two schemes is that the current scheme that I am on…
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Transfer for major company to running pension pot
Who would have known back in 1988 that I would be required to know who the trustees of my pension scheme are! I am 75 and have various pensions that I am trying to consolidate. I have had a pension scheme in my name, set up by the company that I owned, back in 1988. My financial adviser suggested that we should move these…
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Dormant pension - should I take money out
I've got a pension I haven't being paying in to for 30 odd years. Now sitting at £38,400. I put about 5k in so I think bonuses have taken it up to that amount. It's going up about £800 per year. Should I take that money out and put it in a bank account now I'm 55?
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Cashing in dB and DC pensions at 55
My total in both pensions is around 170,000 , I am no longer working and unsure if I am making the right decision. Thank you
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Switching out of Standard Life WP, no MVR but a negative bonus?
I'm considering switching my old SL "Serps" plan with c£40k in which I have had since 1992 (only £10k of this is in a WP fund with a 4% increase guarantee, the rest is multi asset funds), either to my current CS AVC (with lower charges), or to another more modern SL pension that supports drawdown/UPFLS (neither of these…
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RSS for NHS Scotland retirees - I am confused
I retired in 2020 after paying into the pension fund for 20 years. Yesterday I received a letter re RSS and I'm totally confused. The way I read it my perception is that it's better to choose option B which is CARE rather than staying with my current pension which is option A. I'm not a stupid person but pensions, tax etc…
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Taking an annuity with only part of a DC pot
If I want to use about half my DC pot to buy an annuity, and use HL or an IFA, will they do all the paperwork for me? Do they communicate with Standard Life and does the remainder just stay where it is? Is there anything special I need to do when using part of my pot? Detail below but I don’t think it is needed for the…
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RPI - linked annuity
I am considering buying an RPI-linked annuity with part of my pension fund. I am at early stage but wonder whether the RPI reference point is for the life of the annuity or, like linkers, will change to CPI in the future? I have also heard that the RPI increase may be subject to a cap. Presumably this all depends on the…
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Aviva workplace pension part transfer to Interactive investor
I am considering switching my workplace fund to my SIPP to save on cost. I am just unsure if I am missing anything. Aviva have been hopeless when asking anything and simply in end sent me a form. With me already paying £12.99pm for the fund in ii (which is identical to my aviva workplace supermarket fund) it seems a no…
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719 discussions
6.3K comments
Most recent: Will I lose N.I. Credits if I transfer Home Responsibilities Protection to wife? by p00hsticks
1 November at 9:38PM
