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Total Pension Pot calculation…
Hi, looking at an old private pension forecast from 3 years ago. If my lump pension was 143k with a reduced pension of 21,475.68 annually. I will request an updated forecast, but for the moment though can you assist me with some queries based on numbers above; How much pls is my total pension pot ? Is it 143k x 4?…
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TPS Scheme, How to claim with minimal actuarial reduction.
Career Average with 3 Year Buyout. Want to claim age 60, so only 5 years actuarial reduction. APB - I buy £250 every year, current pot is around £2k, anticipate it to be around 5-7.5k at age 60 as I will buy the maximum I can. I cannot have 3 year buy out on this, so if I was to claim at 60, would be reduced by 8 years…
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£60K annual allowance pension contributions
I'm looking to maximise my contributions to AVC over next 2 years before finally retiring - I know I am limited to my pay or £60K (whichever is less), and can use some unused allowance from previous years - I''ve been doing some calcs but hard to be exact when I am in defined benefits main scheme and defined conts AVC. So…
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Civil Service Classic Pension queries
Looking for some advice please. I was in the Civil Service Classic pension scheme from 1984 until 1994 when I left and became a deferred member. As my pension is due to start paying at age 60 at the end of this year I thought I would request a statement / current valuation last September as I had not received one for…
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TAX ALLOWANCE ABOVE STATE PENSION AND BENEFITS
My current state pension is above my personal tax allowance because I have transferred 1260 to my spouse and is my only taxable income The problem is that for benefits puposes the full state pension is being listed as income instead of the NETT with the tax deducted I am probably one of the first to have this issue which…
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Pension income
Looking for some advice please. I took a lumpsum of £15k out of a pension pot in the last financial year. I received £10k and I paid £5k tax on this at BR according to my HMRC records. I am not of pensionable age and still employed. this amount of tax seems unusually high in comparison to the tax I have paid on other…
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Using up previous years "unused" pension allowance
Hi, I have contributed a lot to my workplace pension in the last 3 years as I had neglected it prior and am over 50 and had an opportunity to do so. But I have not used each years £60k allowance. I understand that you can pay more than a years allowance (£60k) in a year if you have "unused" allowance form the previous…
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USS and Voluntary Severance package, Tax and buying pension
Hi all, I'm 58 and taking a University Voluntary Severance package soon of 33k. I know that the first 30k will be tax free and the remainder will be taxed at the usual rates. However, I have an option to put some of the package into my pension. I'm still working part-time elsewhere and for various reasons I'm not taking my…
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State and private pensions have gone up, but I'm worse off
This discussion was created from comments split from: State Pension and Private Pension.
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Salary > Pension contribution. Is a 2-3 week delay normal?
Hi My salary is paid to me on the last working day of each month. My pension contribution is made through my salary at the same time. My DC (I edited this to DC from DB previously, my error, it is DC) pension is with L&G and checking there, my pension contributions are normally received around the middle of the following…
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Trying to pay ni shortfalls..calls do not happen
Your advised us to check our NI contribution for gaps. This I did. Gaps found . You advised us to complete the on line application within the deadline with a view to paying for gaps and increase our pension payments over the long term. This I did. Then we have to wait for a text and a call. The texts come advising you to…
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Tax relief on pension contributions for higher rate tax payers.
Sorry, this is long, but I hope clear, and that someone who knows enough about this stuff will be inclined to read through (or will just know straight away the issue I'm talking about). I feel I am going slightly mad trying to get the right tax relief on my pension contributions. I'll try to lay this out as clearly as…
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How can I find them ?
Can anyone please tell me how I can find the details of previous work pensions? Tia
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I need to set up a new pension… Help!
I put some money into a Scottish Mutual personal pension many years ago. The admin is now incredibly slow, and I would like to move to a new provider. £150k. But, whom do I go to? How do I keep the costs down? I am happy to invest the money in a UK equity tracker fund. I’m not sure when I will start drawdown, but I would…
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TOPPING UP SHORTFALL IN NICO PENSION CONTRIBUTIONS
I was advised to do the following **(SEE BELOW) which I did on the 1st April but I still haven't heard back and when I try contact again it says not to ask for another call back and to wait.....does anyone know how long is okay to wait?? And what number it will be that rings you? Just that it's been a month now. **If you…
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Clueless!
Hello I come at this as someone who knows next to nothing about pensions. I had a contribution based pension with a firm, from my employment with them between 1996-2004. I am wondering if I can remove a 'small pot' but I can't get a response from the company as to how much is in the fund. All I know is the below. Which I…
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Reinvesting in equities after pension transfer
After taking advice from this forum back in February after unplanned early retirement, I sold a proportion of equities when the market was at its peak to reduce risk (lucky timing!) and then transferred my largest DC pot of just over £500k (an occupational scheme) to a SIPP. Timing of that also went quite well as it was a…
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Contacting SPPA
Has anyone attempted to contact the SPPA by email recently? How long did it take for them to get back to you? I contacted them mid Feb 2025 but haven't had a response other than the generic - 'we've received your query'.
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Army service
I served for 3 years in the Army from 1977 to 1980 and after contacting the MOD I was informed that I was not eligible for Pension could I still use this service time in my Civil service pension as I am retiring in the next 2 months Thanks
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LGPS transfer finding an IFA
I have not been working due to ongoing health issues. Late last year I was also diagnosed with prostate cancer of which I am being treated. However I learned last year that to get my pension transferred so that I could get a draw down to help with financial needs. I have to pay an IFA to sign it off to transfer to an…
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: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
13 August at 7:57PM
