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Advice on moving a Pru With Profits please. What to do?
OH is almost 70 and in receipt of State Pension but also has a Pru With Profits that has about £130k in it. He has ‘sat on’ this for a long time and it’s a long time, since any contributions were made into it. When he retired, we had savings, and as interest rates were low, decided to keep ‘sitting on’ the pot and…
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Scottish Widows App not working
Is it just me ? Latest version of iOS App appears to have stoped working after the update but that could be a coincidence ! Removed and reinstall didn’t help.
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P60's
I am having problems obtaining annual P60’s from my pension
administrator (PIC) PIC took over my pension from my former employers, in house team
– who used to send me P60’s on time,
every year… I have just had an extremely long, on line chat with PIC which
resulted in nothing. They have a “Member Zone” that certain…
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Tax query
Hi I have a tax issue which has cropped up and causing a bit of concern I receive 1400 pounds per month drawdow from my 25% tax free pension pot for 2 years I have had a small part time job paying 110 pounds a week , no tax was taken from me . 4 months ago the company changed hands and we went to fortnighly pay , my wage…
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The right time to switch funds?
Hi everyone, Over the last 12 months I have started paying more attention to my pension, which for the last 20 years has been invested 100% in UK Equities with Standard Life, so I have missed out on the huge US gains during that period. With the help of this forum I made the decision last year to move to a Global Tracker.…
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Civil service ill health pension, Alpha upper tier
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…
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Private Pension Contributions
Hello, firstly hope you're all well & apologies in advance if this question has already been asked. I have around £36k in savings from when my mum passed away a few years ago, I always told her my dream was to give up work as soon as I can, so I'm retiring early at the age of 61 in late September. I've got a Santander Edge…
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Workplace pension reduced after the event
I have read threads here whereby people made decisions to retire (e.g. early) based upon their workplace pension provider's quotations, only to have some of the lump sum and ongoing pension snatched away when errors had been spotted months after their retirement. It seems that back then there was no redress. I took early…
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Sipp beneficiary
I'm the beneficiary of a sipp and understand that money taken out as a lump sum is taxed at my rate which is 20%. the SIPP provider says it will pay out using a emergency tax code at 40% and I'll get just over 60k. The SIPP is worth 107k and I earn just under 30k. Ive read that sipps will be taxed at the beneficiarys rate…
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Pension paid as part of severance
Hi, I am not clued up on all this but I am getting tingles that this doesn't feel right and I wondered if anyone could help. My partner was medically signed off from his job and has accepted to go down the severance route as it works best for us. However, he told me yesterday that around half of his package is his pension…
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Choosing annuity over draw down?
I will shortly have access to about £200k from my deceased husbands private pension plan. I can take a £50k benefit and raw down a certain amount on a monthly basis but the total funds do not increase for me. should I take the whole lot and put it into an annuity? Also, should I split the amount up to put into a variety of…
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Reinvesting in a pension product
I have inherited 220k SSAS pension from my spouse, who died under the age of 75, so the pension is tax free. I have concerns with the current investment and administration and would like to transfer the entire pension to another pension product where I can invest for now and draw down from 2029. My concern is to find a…
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Time to pay NI top ups after decision
Hi Folks, in 2023 I made a first application to top up my NI contributions back to 2006 as I have been overseas for a lot of the time. I know applications for that had to be in by 01 April this year. My third submission of the same form (I have reached the front of the queue twice now and their response was to send me the…
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Pension Drawdown Tax Refund
Hi, last year I used all 100% of a small pension to pay off my mortgage. Obviously, I was taxed on the 75% drawdown amount. Since then, I have been unemployed and have not made much money and have not reached my tax allowance for the year. Will I be able to get the 3k plus back as paid taxes?
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Teachers’ Pensions Website difficulties
Good evening all, just wondering if anyone else is experiencing difficulties with the Capita run TP website, really hard to contact them, emails not answered and on hold on the phone for 50 mins plus. i have had and filled in my Rollback choices statement which tells me I am owed money. It was posted “special delivery”…
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Claiming my 25% tax free pension allowance without the balance going into drawdown
I have contacted my 3 separate private pension providers all of which have told me that if I am paid my 25% tax free amount into my bank account now that the remaining pot will go into a new account that will then be in draw down and taxed which I do not want. I was told that what I require is possible however it may…
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SIPP drawdown
I am over 55 years of age and would like to take a 25% tax free lump sum from my SIPP. My SIPP consists of 3 different US shares and a small amount of cash (£150) that I leave in there to cover fees. Am I able to decide which shares are sold to raise the 25%, can I sell some of each? Can I specify to leave the current cash…
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Pensions Advice - Insight4universities etc.
Hello I'm looking to reduce my hours by at least one day a week this year, but having spent all my working life until now trying to avoid thinking about my pension (USS), now find I need some advice to get my head around the pros and cons of my options for doing this. I'm reasonably sure I can afford it, either with or…
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Identifying whether a fund offered by UK organizations is US/UK Tax Treaty recognized
Hello, good day US/UK citizenship, UK resident, no US assets, holdings or business/employment dealings Seeking to understand how one might identify whether a fund is recognized by the US/UK tax treaty and what in fact "recognized" means in this case e.g. is that the same as saying it's HMRC domiciled or something else? The…
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Civil Service Pension - EPA
Hi, I've been reading several threads about the changes to EPA and early retirement and still at a loss as to what to do next. I have been in the CS Alpha scheme for 4 years, contributing to -3 EPA for the last 3 years. I understand the EPA is no longer as beneficial since the changes made in the last year. I'm 34 and have…
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Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
13 August at 7:57PM
