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NHS Pension Extra Contributions - HRT
A friend of mine who works in the NHS and is a Higher Rate taxpayer has asked me about making extra pension contributions for tax reasons. I assume she means tax relief, particularly any amount that she pays 40% tax on. I have had a quick look at the website and it looks like there are 3 choices, very similar to the Civil…
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Tax Free Lump sum
I have. Private pension from when I contracted out of SERPs. I am 55 and have a civil service pension. I work full time and will continue to work for 7 years. I earn over £40K. I have checked my state pension and have paid enough NI to receive full state pension. I would like to take 25% tax free lump sum from private…
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Is it worth keeping a Stakeholder Pension
hi I did have 6 different pensions from various employers etc I have since transferred 3 into vanguard, so left with 3 now Main pot Royal London and a Vanguard sipp ( although no truly a sipp), but i also have a RL stakeholder pension value less than £200, is there any benefit in keeping this?
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Pension Drawdown in the new Tax Year
I know I am over thinking this, but not sure what to do in the current market? I an in my early 70's and normally drawdown a sum from my DC pension to take me just below the 40% tax bracket at the start of a new tax year. Currently have a full state pension and a small fixed DB pension. The drawdown would be 5% of my…
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Help with knowing how much is 'needed' to retire?
Online calculators to me are quite worrying in that it seems to be unless you have a pot of £1million then you're going to struggle in retirement & while some will be fortunate enough to be in that position, I certainly wont. I doubt many of the people I know either will be fortunate enough for that yet they seem to do…
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Voluntary NI payment from abroad. Any fees on UK/Barclays account side? (HMRC)
Paying 923GBP into the "GB49 BARC 2020 4830 9447 93" account for 2025-2026. This year I'm paying from Ireland (Bank of Ireland account). Last year, from another bank in Europe, I could select "pay fees on both sides" ("OUR" or something like that.) Bank of Ireland/Ireland charge no fees for transfers to the UK. But there's…
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Moving pension from Aviva to Vanguard?
Hello I am after a bit of advice please. I have just left my employer and I am trying to decide what to do with my pension pot. Currently it is invested in Aviva Pensions My Future Focus Long Term Growth S2. The pot is not much, about £100k, which worries me as I am 43yo, so I am desperate to grow it as much as possible. I…
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Immediate Needs Annuity
It looks like someone I have LPAs for is going to need a lot more personal care soon. Two quick questions. They have a Prudential Bond, could this be used towards an Immediate Needs Annuity? Can the payee of an immediate needs annuity be changed, so if we get one for homecare and they have to go into a home could it be…
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The Pensions cashback and incentives discussion thread
Lots of coverage on incentives for current account switching, but none that I've seen for pensions. I kind of get it - bank accounts are a well oiled process, don't involve long waits, differing paperwork requirements, and potentially large sums needing to move. But given that the demographic of this board is made up of a…
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Tax relief
Hello, I currently earn a basic £47,318 per year. This year ive earned £56,788 with my bonus and overtime. Ive put into my DC Pension £7422 this tax year and £1,910 into my DB Pension. How much tax could I get back if I did a self assessment. TIA
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pension contributions refund advice
Just looking for some advice , nhs pension contributions, i have paid the wrong amount and my contributions have been adjusted to 10.5 not 12 percent , the refund of these contributions will they form my taxable pay for that month ? thanks in advance
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Any reason not to aim to empty SIPP ASAP in retirement?
Looking ahead to when I retire (within the next year or so), and setting the strategy. The situation is fairly simple: retire at 60 years old ~£700k in a SIPP Cash ISAs as cash buffer no need for a large lump sum at retirement It seems to me that the SIPP needs to be emptied as fast as possible (25% tax free, rest kept…
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Interesting week for pension fund value
Seemed like a strange week this week - US markets keep going down every day, but my global tracker funds keep going up! Must be FX I guess.
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Advice on moving pension fund now due to unplanned retirement
Hello I was hoping I could get some advice on what the best approach would be to my current situation, which is as follows… I’m 54 and will turn 55 later this year, I hadn’t planned on retiring any time soon but some health issues have made me have to consider retiring in the next year or two. I have a defined contribution…
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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…
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: Missed callback on missed yea… by pinnks
14 September at 2:34PM
