Pensions, annuities & retirement planning

Help me out here folks A relative has just left a job but is keen to continue contributing to the occupational pension which is held with Scottish Widows. They would like to pay the maximum they can. As a low earner (they have found another part time job) they may not pay any income tax in the year 26/27. Let's say they…

Apologies if this has been asked before. I made a small contribution to my ii SIPP, but subsequently decided to withdraw a larger lump for a holiday. I raised the cash by share sales, but during the withdrawal process I was warned that if new money was added, withdrawal would have to wait for tax relief to be posted. Since…

As per the title question. I've been going on all the annuity tools and calculators and find like for like quotes, RPI gets a better initial payment to customer than LPI. LPI is apparently limited to a max 2.5% or maybe 5% and I just can't understand why RPI pays out more? I must be missing something as I normally do. Any…

Hello there - I'm trying to help a parent with their German pension tax payment, which is usually made via the Finanzamt Neu Brandenburg online payment portal. However, this has now been ' currently unavailable due to a maintenance window' for several weeks, with no obvious suggestion how else to make payment. I've emailed…

I get a little confused about the pension carry forward rules. Can someone please help. If I could give an example based on my own situation with an Aviva defined contribution scheme. 2026-2027 annual salary 60,000 pension contribution so far this year 27,000 Gross (1 off inheritance + higher first contribution) so this…

Nothing like an idea to change the State Pension to get some discussion flowing: https://institute.global/insights/economic-prosperity/the-lifespan-fund-reforming-the-state-pension-for-a-more-affordable-flexible-and-fair-future In summary their plan recommends this be introduced in 2030: the pension (or fund) increases…

Hello Group, I would like advice about how to bridge my income until my state pension kicks in. I am 63 now with a mortgage left of £21,500. I have 7 years left to pay it off and have a monthly payment of £309. I am however claiming Universal credit (LCWRA) which provides me with insufficient income for my expenses. I have…

Hi all, looking for some pointers. I’m 42 and have been assessing my retirement fund following the recent sudden death of my father (aged 72) which has made me look at my own plans. I’m now considering taking an annuity at about age 60 with part of the pension and drawing down on the rest in an attempt to use it all up…

I am currently retired with a USS DB pension of approximately 36.5K/year. I also have a USS DC pension pot (the so-called USS "investment builder") of approx. 45K and a SIPP pot of about 18K. I also have in the region of 2K to 3K/year of taxable interest and/or dividends from non-tax sheltered investments. I will reach…

hi I am trying to find the right product and failing Our adult stepson is going to open a pension but it will be funded by family so he had something . Currently he is self employed is there a product we can use ? Aviva said would need a financial advisor to set it up is there anything simple where we can then set up a…

I've been slowly building up my defined contribution workplace pension knowing that I will want to start to take it relatively soon, however the pension funds are still classed as 'balanced', which probably means moderate risk. I'm nervous about a stock market crash and a big chunk being wiped from the value of my pension.…

I am trying to find the total (gross) state pension payments I received for year 2024_25 and what tax was deducted. This seems difficult to locate. I can see a summary for my company pension but not the state one. Where or how do I get this info online or do I have to contact the DWP / HMRC or whoever? Thanks.

Hi, I’m in receipt of civil service ill health pension at alpha upper tier and was told it is reviewed every five years - my five year point is next month. Can anyone tell me what to expect, eg do I need to provide more documents, investigations etc? I had a terrible time with my original application and finally got the…

I am leaving my current post as I need to have less pressure. I will be going down a grade which affects my final salary. I understand it is the best of the last 3 years so I can only stay in new job for 2 years to keep max pension unless I opt out. Can I take job and opt out of pension before 2 years is up? or should I…

I’ve joined a new company and my employer have asked for pension details to set up my salary sacrifice (to keep annual under £100k) They don’t have one so I need to choose one myself. I am thinking of Aviva or Aj Bell. I’m not very pension clued up and just want something easy but to have a good return. I am planning of…

Hi Folks, Hoping for any pointers/views on the following 20+ year plan. Context: Age 55, plan to retire in 5 years. Cautious investor. All income requirements covered by DB & SP pensions from age 76. Currently have £450k in SIPP/AVC/ISA/Savings Stage 1 - Age 55-67: Accumulation of growth portfolio (VWRP or similar) Stage 2…

Had a chat with an IFA who has quoted an ititial 3% tranfer fee to a SIPP from an old Royal London workplace pension with ongoing fees of 1% annual and 0.7% platfom fees, quoting an Aviva plan. Speaking to a few people who have done the same thing they say it seems quite expensive, any comparisons?

Question: What's the difference between 2 and 3? Answer: 640. Yes, the difference between the annual payments for Class 2 and 3 National Insurance contributions is £640… £160 for Class 2 and £800 for Class 3. In order to pay Class 2 contributions, you need to be registered as self employed for National Insurance purposes,…

The below are my pensions with the charges. I'm currently paying into the Aviva through salary sacrifice, and also have two other defined benefit pensions, one larger, one pretty small, and one other DC pot that doesn't have an online login so I haven't been able to check the charges. People's pension 8860 £6.50 0.5%…

Hi I am a higher rate tax payer, PAYE and pay into my pension via salary sacrifice. I was under the impression that I would get £1.40 be paid into my pension for every £1 that comes out of my pay, and that this would be done automatically (ie I would not need to claim directly for more tax relief). it’s not, so what am I…