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SIPP choice - do I need to worry about the details?
Looking to open a SIPP for an initially small pot (< £20k). I've been looking at and trying to understand the details of charges, but I'm not sure I need to; it seems to me the thing to do is commit to something and go from there: - I'm not sure I'll have a good view of exact trades and charges without actually doing it. -…
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Pension transaction negative adjustment
Can anyone explain what an adjustment transaction on my pension fund is, i noticed that my fund had dropped around 25% last week and when i looked at the pension scheme there was a transaction listed as an adjustment and my fund dropped around 25%. I have been in the process of getting a final settlement for my pension and…
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USS - General discussion
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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A good time to do nothing?
We are a couple, about 5 years into retirement, anticipating another 30 years. I was planning to move a circa £200k private pension plan from an old Aviva with profits to II to facilitate drawdown, and take the tax free 25% to fund extensive work on the house. The rest of this pot is intended to fund lumps of discretionary…
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Alpha EPA under Capita
As we all know, there are bigger fish to fry at Capita HQ right now... But I'm just noting that I don't have my annual renewal letter for EPA. The EPA page, here, still states: The cost of buying an EPA is fixed each scheme year, but will change from year to year. We will automatically renew your EPA and write to you in…
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Pension Basics
Hello, I am one of those people that has paid little attention to their pension other than checking in a couple of times a year and having moved jobs a few times been careful to consolidate to tidy things up. My present situation is as follows: 52 year old male with 5 years served at current employer. I have a group…
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Pension Planning Guidance
Good evening all, Myself and my GF have just had a baby and at 36 I have decided to finally start looking at pensions. Just looking for some guidance on if what I am doing is correct. I have 6 pension pots with roughly a combined value of £25k. They have no special benefits so I opened up a Vanguard SIPP and transferred…
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Who to take lump sum when still working
Hubby is still working and earns approx £31750 this year. He wants to take out all of a small private pension that probably totals £12k 25% of this will be tax fee the rest he will be taxed on when is the best time of year to take it. We are in Scotland so 42% tax from £42663 upwards so i think the balance of the pension…
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Missing employer pension contribution on final payslip
Hi I left my employer in mid-February (and my P45 was issued at that stage). In March I received payment for amounts that they had failed to pay me in February. When checking my payslip I noticed that not only did they not deduct my employee pension contribution in March but they also failed to make any employer…
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Searching for critical mass
I wanted to send this out as a pulse check to see if we are on the right track, generally, and if there is maybe other things we should consider. Married, 2 kids, just turned 40. My partner and I have £390,000 invested across ISAs & pension. Combined we are putting away around £2500 a month into these, and mainly into…
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Lump sum from DB Pension fund
Afternoon all, Am trying to give some general guidance to a family member who should be in receipt of a DB pension (and tax free lump sum in excess of £30k), in about 18 months time. Planning to look at their complete financial situation (cash, stocks and shares, all pensions) to see if it looks realistic to fully retire…
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Can you use pay in lieu of notice to make a personal pension contribution
Hi, I have been made redundant from 30th April 2026 because the company is closing. In additional to a redundancy payment, I will receive around £11,000 gross which is made up of my usual salary for the month, pay in lieu of notice and holiday pay. I will not be doing any further work from this date so this will be my…
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Profile Pensions annual fee?
Morning, everyone 🙂 I'd like to ask kindly anyone of Profile Pensions users, as I consider starting my private pension with them and still trying to find answers for whatever puzzles me.. Their annual fee is 0,82-0,86% with all the aspects included (ongoing investment advice as well) - but WHEN during a year do they…
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Pension draw down strategy over 6-7 years whilst still working
Hi, we want to take out circa £230k from our pension pot by 2032 as efficiently as possible. So we're focused on making the most of the 25% tax free bit and also being as sensible as possible with navigating the 60% trap (since I'm working still and earning circa £85k). I'd like to leave using the 25% as late as possible…
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Pension sharing annex - no solicitor
I started proceedings for a divorce in 2021. I have been awarded 33.3% of my ex husbands pension. I don't have a pension as I was a SAHM. No other assets. I've been asked to send the Pension sharing annex by my exes pension company so they can release the funds. I have looked at the form and I don't understand some of the…
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Pension credit,
Hi, I am looking for someone to explain to me (as I understand it), the pension credit scheme. I have recently retired and worked for fifty years paying all necessary N.I. contributions to obtain the full state pension. What I cannot understand is why someone who has not contributed to the full qualifying period and then…
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MP Estate Planning & Asset Preservation Trusts - Buyer Beware!
Searching through the forums there is an older thread which covered this firm, which you can find below. The thread has been closed, but I came across information related to this, so thought I'd post it in case anyone else does a search about this company. The article is by well known tax lawyer, Dan Neidle, and is posted…
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How to apply GAD reduction factors to CS Alpha
I am trying to calculate how much Alpha added pension will be reduced if £6600 was paid from salary during 2026-27, giving £453 if taken at NRA of 67, but then the added pension was taken at early retirement aged 56. Would I get zero in April 2027, then in April 2028 a reduced figure from £453 plus CPI? What would the…
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IFA vs DIY
I'd be interested to learn what are folks' views on DIY pension management vs. handing over to an IFA or similar? My immediate concerns would be handing over my life savings to a relative unknown and them scarpering off with the money, their ability to manage the risk, pick funds/bonds etc, fees, etc. On the other hand, it…
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Defined Benefit pension transfer advice
I have a Defined Benefit Cash Balance Scheme pension with a transfer value of c.£70k. I would like to transfer this to an existing SIPP. In order to do so, I need a suitably qualified advisor who can sign a Pension Transfer Advice Declaration for me. All of the advisors that I have approached either aren't suitable…
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Most recent: Home Responsibilities Protect… by UKTaxHelper
21 August at 10:09AM
