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New Job means new Pension
New job so I've been enrolled in a new pensions scheme: Smart Pension Don't know too much about this company so currently digging into them but I have a choice of investment funds and looking at people's thoughts. I do like higher risk as I'm 25 years away from retirement so plenty time for peeks and troughs. Can also…
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USS DB Pension - claim early while working?
I will get my USS Pension in September 2027 - no option to defer, and my state pension two years later, at 67. I've recently found out that I can claim the DB pension early. I've done a few projections on their online calculator to get an idea what I can get at 65, 64 and 63 (I'm almost 63.5 now). If I had claimed at 63,…
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Advice for changing a new sipp and Isa platform
Thank you very much in advance! I have invested a sipp with one platform valued about 200000 pounds, but I would like to stop it as its charges or fees, and invest a new sipp with another platform such as trading 212, investengine, IG, can I just stop investing with the present platform before April, directly apply and…
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Moved: Ground source heat pump
This discussion has been moved.
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Gifting out of excess income re dc pension
I understand how to work out ‘excess income’ from a db pension, I guess if you are left with surplus money every month it’s quite simple and understand the rules about regular payments and keeping documentation but how do you work out ‘excess income’ when you basically have just a dc pot. Including State Pension I only…
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How many funds should I invest in a SIPP?
Currently switching my wife's and my pension from Nest to a SIPP with Interactive Investor. How many funds would be the right amount to split it between? We have around 800k in total.
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Civil Service Premium & Alpha scheme member
Hi, I have been in the Civil Service since 11/2004 and was originally in the Premium scheme but was transferred into the Alpha scheme. Like others I’m tied up in the McCloud judgement. I turned 60 in July 25 and so have 3 options, continue working, part retire or continue working. I also at 60 started to receive a private…
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65. Am I going about this correctly?
Retired 5 years ago at 60. Since then I've been making UFPLS annual withdrawals from my private pension, got about £290K left in that and savings/investments amounting to around £450K. This year I get my USS (Universities Superannuation Scheme) pension and, later, my state pension (£12K per year). I'm going to take the…
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I don't believe what HMRC have told me!
Please forgive me if this has been asked before, but I can't find the relevant thread? Forget the increase in State Pension due in April and this has nothing to do with Income Tax but I recently found that the "full" pension should be £230.25 per week currently. I have been getting £207.50 yet have paid 42 "Full" years NI…
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Pension, is this legal?
Ok the figures i am going to post are mine, the scenario described is real, the advice is for me. I worked as a coach driver for a well known "national" company the company i was employed by was a 3rd party operator. This last 18mth the national company have been struggling financially and have been selling of various…
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Scottish Widows
Afternoon all, I'm looking for some basic advice please, I appreciate none of which will be Regulated but I'm looking to confirm my understanding and by association want to understand what Scottish Widows (SW) has done recently to determine the risk based on that knowledge. Apoligies in advance for a long winded initial…
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How to plan for arrival of 6-figure sum when deceased parents’ house is sold.
Hi all, apologies in advance for the waffle. I’m 53, married, with no children or debts. I’ve worked in local government for 25 years and earn about £36K. I’m in the LGPS and also contribute monthly to a SIPP. My wife, who is five years younger, works freelance, earns £20–25K, has limited savings, and contributes a small…
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Employer's pension contributions - statements
Hi, new here, I hope I'm in the right place! I am in a workplace pension scheme, to which my employer makes a monthly contribution, as do I, directly from my salary. Recently I have had notification from the scheme provider that my employer has missed a number of contributions. I have a statement of contributions from the…
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Affairs in order (from a finance perspective)
Hi all While arguably could go elsewhere on this forum lots of knowledgeable organised people here and also definitely pensions is a major part of thing. Just been going through our legal affairs to address what should happen with everything in event of one or both of me and partner being incapacitated / dying. Checklist…
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Drawdown plan
Please can you critique my drawdown plan? 1: Basic needs are covered by partners defined benefit pension plus an Index Linked Bond Ladder covering between retirement and State pension age. 2: Nice to have’s, holidays new cars etc etc are to be covered by a SIPP pot plus S&S ISA’s (x2 one for me one for my partner) 3: We…
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Paying into SIPP and a workplace pension
I took a voluntary redundancy package in December and I'm now starting my retirement journey. I was paying into a workplace scheme via salary sacrifice (50% salary) and also sacrificed bonus plus redundancy amount above £30K (which went in as an employer contribution). Given this is the likely final year with significant…
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When to cancel transfer of married allowance?
My wife has transferred 10% of her income tax allowance to me (marriage allowance). She has only had very limited income for a number of years and didnt use all of her allowance. Next April (in new 2026/2027 tax year) she will start to take her DB pension and will be paying basic rate tax. So she will stop the marriage…
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GPPP is it Workplace or Personal - limited to 3 cash-ins?
Hi all, Going through some pension documentation for a friend. We're trying to trace some, update others with correct address and personal details. Basically, get them all registered for online access and see what is what. As my friend has worked a number of jobs over the years for fairly short periods of time, each…
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Drawing from an inherited SIPP pot - MPAA is NOT triggered?
Anyone else read the article in today’s Telegraph? Quite apart from the imminent changes to the fee structure, I think what I’ve read this morning (assuming I’ve understood it correctly), is probably the final straw for me. Over the last few years, I’ve had cause to raise complaints about the service I’ve received - I…
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Most tax efficient way to draw down personal pension
I am 60, retired early and look forward to an NHS pension when I am 65. In the meantime I have a personal pension of about £70K which i would like to withdraw ALL as income between now and then (2030). I have no other income but living on my husband's pension. What is the most tax efficient way to draw down the £70K? -…
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Most recent: Home Responsibilities Protect… by UKTaxHelper
21 August at 10:09AM
