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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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Pension Lump Sum + Further Pension Contributions
Hi I am 65 and have two pensions, a workplace salary sacrifice pension (£80k) and enjoy tax relief (I am a 40% tax payer) together with a SIPP (£320k). If I take a lump sum of say £70k from my SIPP and increase my workplace pension contributions (not greater than £60k / year), what tax relief can I receive via my workplace…
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New Higher Rate taxpayer as a result of State Pension
I have just started receiving my state pension, pushing me into higher rate tax band and now reducing my PSA to £500. (I was a HR taxpayer as live in Scotland, but PSA was £1000). Is there any benefit in contributing £2880 to a SIPP each year, and if so how does the tax relief work. Is it automatic or do I need to claim to…
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State pension age review
This article has come up in my Google feed. https://flyeptportugal.com/state-pension-age-update-2025/ It's saying that the state pension age isn't going to be increased to 67 as planned after 2026. Seems too good to be true. Does anyone know anything about this please ?
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Top up Sipp from ISA and then utilise tax free cash for House renovation.
Hi, I am struggling to work out which option makes sense. Currently 56 years old and drawing a DB pension and working (Higher rate taxpayer) My DB pension is sufficient to cover my living expenses and I have another DB pension growing with my current job. I pay into a SIPP current value approx 200k and currently contribute…
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Hmrc
Hi :) New to the forum - don't know if this is the right board, but hope someone can help :( I was trying to complete my wife's self assessment tax return today but couldn't get past section 3 - tailor your return - as a result of hmrc categorizing an old pension payment this year as an employment. We found old pensions…
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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