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Voluntary Class 2 NI while living abroad
Hi, doesn't seem to be covered in most headline bulletins of changes but can somebody explain in more detail please? Page 50 Page 108 Am I reading this right that the general class 2 eligibility will be removed (subject to final approval) from 6th April 2026. What I don't understand is the second bit about the 10 year…
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Teachers Pension - Take at 55 or 57/58
This reads that if you are currently say 45 and a member of Career Average only, you can still claim everything at age 55 even though your NPA is 68. Is this correct? Change to the Normal Minimum Pension Age On 6 April 2028, the Normal Minimum Pension Age (NMPA) will increase from 55 to 57. This will impact the age at…
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Rights to pension after death of same sex spouse
My husband died recently. He was 62. He had 2 workplace pensions. He retired early in 2017 and was receiving both pensions monthly. He had nominated me, his spouse, to receive a widowers pension for both of these pensions. We married in April 2018, but had been living together as a couple since 2004. Obviously it wasn’t…
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Keeping paperwork.
I pulled out my pension files today, the stack is almost two feet high and that is even though a lot of stuff nowadays in electronic. I’m not usually a hoarder but obviously 18 months and 6 years rules don’t apply as problems can still appear after 40 years, even after the pension is in payment. I have started by throwing…
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Timing the Market
I know this is not something generally recommended, however, given the talk of market crashes and market corrections would it not make sense to lower the investment risk for the short term? I am due to fully retire in 6 months. I currently have a diverse pension portfolio, 57% of which is in stocks. I do have a 2 year cash…
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Widows state pension
I note with interest the Chancellors promise to Martin Lewis that pensioners whose only pension is the state pension will not have to pay tax on this pension for the duration of this parliament. I have a friend who was recently widowed and is in receipt of only a state pension. However this pension is already just above…
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Gifting from excess income as a couple
My wife and I have a joint accounts and a joint credit card. As well as that we have our own ISA’s which produce some income and we also make small lump sum withdrawals from a SIPP (approx £10k per year but generally for one off spends over the last couple of years - e,g. Daughters wedding, special cruise) By far the…
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LGPS AVC STRATEGY
Hi, Do you have to take your full AVC lump sum when you retire or can you leave it invested and live off other savings/LGPS pension for a year or 2? With a 100k AVC, can I take a 40k tax free lump sum and max out 2 ISA's? If so, what happens to the 60k balance can i take that tax free whenever i want? or does it have to be…
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All world tracker
I am restarting my investment at a later stage in life and it had taken me a long time to take the leap to move from over 25 managed funds into one all world Index tracker. The rest of my money are in savings and outside the ISA as no allowance left . As the fund value has dropped so the ration is 55/45. I have a separate…
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HL SIPP - Inundated by Drawdowns?
Does anyone else have this same problem? I have just started to draw my pension from HL. I am going to have to rely on this mostly until I hit the state pension age. First withdrawal was a difficult process for me to follow, but things are when you do them for the first time. But it did at least go through quickly once I…
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Tax on State Pension
At the moment, there is no P60 or statement of tax paid on Gov.org or anywhere else. As the government are going to tax us and more people have to complete tax returns, will they now have to issue P60s?
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crystalisation and drawdown
hi sry if these are really dumb questions.... I am some way off needing to do it yet but just starting to think about draw down of my DC pot To keep things simple lets just say the pot is worth £1mil I understand that (for now at least) you can access 25% of this tax free (TFLS) so if the whole pension is 'crystalised' one…
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Tax on Pension
Hello! Part of my wife’s allowance was allocated to me and her allowance is now £11,313. (Full new pension)This means, after the pension rise for 2026, she will owe £247 in tax.As you haven’t mentioned how it will affect people who transferred part of their allowance and given that this is a significant amount, will she…
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Merged: State Pension now Quadruple Locked
This discussion has been merged.
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last employment did not deduct pension from final pay slip and wants me to pay it back to them
Not sure if this is work or pensions but does this soud about right: I left a job in July, final pay was August. In mid Sept they said they hadn't deducted my pension contribution from my final pay and wants me to pay them this direct. I am assuming this is correct? If so, do I need to ask for a new final payslip and P45…
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Welcome Financial Services/Cattles
Hi I worked for Welcome Financial Services (Cattles) from 2007 to 2010 and am trying to find details of any workplace pension I had. I've tried all the usual tracing services but no luck so wondered if anyone might have any info? thanks!
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State Pension Forecast
Approaching state retirement age (Feb 26). I have checked my forecast on the government website a few times over the last five years, last time was a couple of months ago. Always shows I will get the full state pension and over on the qualifying NI years. At the end of last month, I received a letter from DWP about getting…
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Claiming tax back on drawdown pension
I have in drawdown for a few years and was always able to reclaim overpaid tax by the November following the end of the tax year. I have submitted my claim for 24/25 and have been advised that this will be paid by April 2026 almost 2 years on from my initial underpayment. Is there any way where I can shorten this timescale…
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Too late to start gilt ladder? Opinions please.
Hello, I have recently played around with lategenxer and realised I could probably retire on a higher income from a gilt ladder than my current salary!. Any how, whats the consensus in setting up a ladder to provide 1 annual maturity over the next 7 years (SP kicks in 2033), with the first one maturing in April 2026. I…
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Can someone please explain what the 2K threshold and NI contributions change means
Salary sacrifice as much as you can (caveats aside) was pretty much a no brainer previously... with this change coming in i think 2029 does it change much of anything? Ive always been confused by NI, especially the way it uses weekly/monthly thresholds and also goes the opposite way to tax in that you pay a lesser rate…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
739 discussions
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Most recent: reduced pension payments by Silvertabby
20 March at 1:54PM
