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Transfer into SIPP or stay?
My wife has a pretty dormant pension plan from her previous employeer. Its very low annual charge at about £25 and its not performing badly. Over recent years 20%/annum on average and since she left to become self employeed its 100% up. Its not mega bucks at about £15k but we want to start getting the benefit of the 20%…
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Tax code - drawdown across separate pots - unforeseen consequences of higher/imbalanced income
I am reviewing my drawdown approaching 4 years into my plan. So very short timeframe in investment terms. A normal rebalancing, income setting activity. I ALSO wish to reduce the depletion rate of assets/savings outside pension with a view to using some of that differently family need and side eye to the revised 2027…
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Understanding yields
This is a follow-on on from my other recent thread, but it's a separate question so I've started a new thread - hope that's OK. Talking about 'yields', I'm not sure I fully understand them. To give an example, I've been looking at the stated historic yields of my existing funds, and the fund that has done the best for me…
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Brokers Commission Question
I have retired from work this July at 67, I have worked an extra year, and have been contemplating taking out an annuity. I have had a few quotes a couple of weeks ago from HL and Money Helper, Money Helper quotes were highest. Searching through annuity information online, I have found a couple of conflicting answers…
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LGPS AVCs, worth the higher fees & lack of fund choice for the tax free lump sum on exit?
Hello, I think I've decided to start saving into my LGPS AVC option with the Prudential instead of into my SIPP, because my pension scheme allows me to take that AVC pot tax free when I retire. But I'd love to sense check this with someone else, please? In a nutshell: since I can take all of it tax free when I retire, it…
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Teachers' Pensions
I seem to have hit a brick wall and wondered if anybody has any advice to give. I realise that many retired teachers are in a similar position. I retired from teaching in September 2023. My pension is affected by the transitional/ remedial arrangements that all public service pensions are. The lump sum that had been…
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Options for preserving PCLS
I want to help my daughter buy a flat, using my 25% PCLS. I'm 58. This is a DC pension. This money is needed in the next 1-2 years. My pension total has just achieved the target value for the required PCLS. I'm worried about an imminent market crash that could set me back a long time. So the options I'm considering to…
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DB pension transferred, now they want some money back
I've seen similar posts but nothing exact, so apologies up front if I've missed anything. I transferred my DB pension to DC 3 years ago, no problems with that. A few weeks ago my employer wrote to me and said there had been a mistake and they were after 20% of the money back. I know there is a statute of limitations of 6…
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Question regarding pension consolidation/transfer...
When I left my last employer 12 years ago, I had a defined benefit final salary pension, and I had also contributed to a separate Additional Voluntary Contribution (AVC) scheme. Both of these were deferred when I left the company. My current employer has a defined contributions pension scheme which I have been contributing…
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NEST Pensions
I have 3 pensions 1 with Aegon with £10k (ex employer pension) in 1 with Prudential with £10k in (personal pension) , Another with Nest £33k and adding around £950 to this each month via my salary (total employers an employees contribution). Im 53 and am starting to think about what I should do about a lump sum before Im…
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Why Am I Forced To Use An IFA to Convert My Personal Pension Into A Flexible Drawdown ?
I have a personal pension plan that I want to convert into a flexible drawdown. I have tried to do this myself on-line but every provider insists that I do it through an IFA. I am being quoted around £5000 for an IFA to do this for me which is ridiculous given that I know exactly what I'm trying to acheive and need very…
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Transfer cash out of workplace pension to SJP?
I have been discussing with an adviser from Clearwater Wealth Management about setting up a private pension with St James Place. The adviser has proposed that I move half of my segments out of my Aviva workplace pension into a private pension with SJP. The main selling point seems to be the ongoing advice, because it seems…
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Aviva New Generation Pension - reduced capabilities?
I recently discovered I am no longer able to directly chose funds for my main DC pot with Aviva. Maybe a minor thing - I can contact the team and ask them to move things, with a delay of a day (& the small risk they make an error through mis-hearing me!). I've always had that ability, have used it a number of times over…
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Retired, SIPP or ISA?
I am retired, have a SIPP in drawdown.and taken all the 25% tax free money. I also have a stocks and shares ISA. My State Pension is just over the £12570 allowance so any income I draw from the SIPP will be taxed at 20% I am wondering if I should take out £20k (net) from my SIPP and put it into the ISA? My reasoning is…
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Rather pay tax outright than have code adjusted
Hi, all I have yet to lodge my tax return, but I am ready to. One thing I noticed in my online calculation is "amount of underpaid tax included in your tax code for 2024-25 = £ 2042.00" I agree with the amount, but I just want to pay it, I don't want my tax code adjusted. How do I change this?? EDIT - I can see how to…
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Which fund to lock in annuity value
My wife has a DC pot of about £200k that we eventually want to use to buy a ten year inflation linked fixed term annuity at 58 as a bridge to SP at 68 and she is currently 48. If we wanted to effectively lock in the current annuity value of that £200k I'm interested to now what kind of bond fund should she be investing in?…
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Confused about pension contribution tax year (paid 31 Mar, credited 10 Apr)
Hi all, quick question about HMRC’s pension Salary sacrifise rules. I’m a PAYE employee paying into a SIPP via my employer salary sacrifice. My March 2025 salary was paid on 31 March, and the pension contribution for that month was deducted then. The employer says they sent the payment to the pension provider on 31 March,…
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Find old pension
Hi, I can't find a pension from an old employer. I was told that the company Transtec Group (former MP Jeffrey Robinson founded), was listed with a useful contact email address for tracing, on The Martin Lewis Money Show, pensions episode, January this year I think. I can't even get the episode on itvx or YouTube!
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Paying into wife's SIPP
Afternoon Looking for some advice, Planning to start taking some DB pensions next year and will be able to get around £50K as a tax free lump sum. Also have a DC pot, with around £280K. Mrs Fish has a couple of small DB Pensions that will pay out around £5k pa, currently not working or started taking her pensions. Initial…
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DB Pension Contracted Out - Work pension reduction after receiving state pension
I am after some thoughts here please. I was in a Final salary pension scheme - contracted out for most of the 40 years. Not going to get state pension for another 12 months but trying to work out my finances to plan ahead. I was subject to a pension debit - roughly 25% after divorce - so pension amount received is a…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: Voluntary National Insurance contributions by pinnks
15 January at 11:27PM
