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Understanding yields
This is a follow-on on from my other recent thread, but it's a separate question so I've started a new thread - hope that's OK. Talking about 'yields', I'm not sure I fully understand them. To give an example, I've been looking at the stated historic yields of my existing funds, and the fund that has done the best for me…
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Pension Sharing Order - Help.
Hi. I have been awarded a pension sharing order as part of my divorce settlement worth £600,000. I currently have no pension of any description and I need to set up a pension fund so that the amount can be credited to it. I have made an appointment with a financial advisor as advised but really I have no idea why it’s all…
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25% tax free lump sum from pensions
I took the maximum amount from a final salary pension ~ 16 years ago; I also have a SIPP and have recently converted part of this into a drawdown account and taken 25% of that tax free. Read this weekend that you can only take 25% TFLS from two schemes - does that mean that I can't take any tax free cash from my remaining…
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Tax code - drawdown across separate pots - unforeseen consequences of higher/imbalanced income
I am reviewing my drawdown approaching 4 years into my plan. So very short timeframe in investment terms. A normal rebalancing, income setting activity. I ALSO wish to reduce the depletion rate of assets/savings outside pension with a view to using some of that differently family need and side eye to the revised 2027…
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Drawing pension without income tax.
My wife has two smallish pensions. One is with Aviva and has a transfer value of £20000 and an AJ Bell SSIP with £7000. She is 65 and has effectively retired. Her state pension is due in July 2027. The Aviva pension only allows full withdrawal or transfer to another scheme. I've worked out that if she transfers the the…
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CAN I STILL GET UP TO 25% TAX FREE?
Hi I have been retired for 4 years now, and did not take all my 25% tax free allowance when I started to take monthly payments from this pension scheme. Now that I have reached state pension age, I have stopped taking monthly payments, and would like to know if I can somehow get the remaining 25% tax free allowance which I…
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Options for preserving PCLS
I want to help my daughter buy a flat, using my 25% PCLS. I'm 58. This is a DC pension. This money is needed in the next 1-2 years. My pension total has just achieved the target value for the required PCLS. I'm worried about an imminent market crash that could set me back a long time. So the options I'm considering to…
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LGPS AVCs, worth the higher fees & lack of fund choice for the tax free lump sum on exit?
Hello, I think I've decided to start saving into my LGPS AVC option with the Prudential instead of into my SIPP, because my pension scheme allows me to take that AVC pot tax free when I retire. But I'd love to sense check this with someone else, please? In a nutshell: since I can take all of it tax free when I retire, it…
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Drawdown time and going forward
I've recently reached state pension age and am now receiving the state pension. I have also put my pension account into drawdown to give myself a decent monthly sum to live on. The assets in my fund are split between equities, mixed assets and cash. I feel the need to review my holdings at this point to ensure that I'm all…
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In specie Sipp transfer
I’ve requested a transfer from Charles Stanley direct to AJ Bell, it contains crystallised and uncrystallised funds - there are only two investments, HSBC ftse All world index inc. and Royal London Short term money market fund inc. plus a few hundred in cash - CSD charge £180 + £10 per investment for the transfer out but…
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Brokers Commission Question
I have retired from work this July at 67, I have worked an extra year, and have been contemplating taking out an annuity. I have had a few quotes a couple of weeks ago from HL and Money Helper, Money Helper quotes were highest. Searching through annuity information online, I have found a couple of conflicting answers…
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Retired, SIPP or ISA?
I am retired, have a SIPP in drawdown.and taken all the 25% tax free money. I also have a stocks and shares ISA. My State Pension is just over the £12570 allowance so any income I draw from the SIPP will be taxed at 20% I am wondering if I should take out £20k (net) from my SIPP and put it into the ISA? My reasoning is…
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Transfer cash out of workplace pension to SJP?
I have been discussing with an adviser from Clearwater Wealth Management about setting up a private pension with St James Place. The adviser has proposed that I move half of my segments out of my Aviva workplace pension into a private pension with SJP. The main selling point seems to be the ongoing advice, because it seems…
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Confused about pension contribution tax year (paid 31 Mar, credited 10 Apr)
Hi all, quick question about HMRC’s pension Salary sacrifise rules. I’m a PAYE employee paying into a SIPP via my employer salary sacrifice. My March 2025 salary was paid on 31 March, and the pension contribution for that month was deducted then. The employer says they sent the payment to the pension provider on 31 March,…
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Paying into wife's SIPP
Afternoon Looking for some advice, Planning to start taking some DB pensions next year and will be able to get around £50K as a tax free lump sum. Also have a DC pot, with around £280K. Mrs Fish has a couple of small DB Pensions that will pay out around £5k pa, currently not working or started taking her pensions. Initial…
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Aviva New Generation Pension - reduced capabilities?
I recently discovered I am no longer able to directly chose funds for my main DC pot with Aviva. Maybe a minor thing - I can contact the team and ask them to move things, with a delay of a day (& the small risk they make an error through mis-hearing me!). I've always had that ability, have used it a number of times over…
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Most efficient way to get £20k pa pension from following?
Hi! I've previously toyed with getting an annuity but now my head is going the way of drawdown when I'm 55 (in the next couple of years). I can live comfortably on £20k pa (increasing by c3%), so would appreciate thoughts on the best way to approach it giving the following income streams (appreciate the most efficient and…
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Help with Salary sacrifice and Self asssesment
Hi, so last year I filled in a self assessment and filled in the tax relief section on the SA form to claim the other 20% back through SA, filled this in due to higher child benefit charge. Back in october Hmrc changed my tax code to 1336L and they automatically closed my self assessment and said I don’t need to do one the…
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Transfer into SIPP or stay?
My wife has a pretty dormant pension plan from her previous employeer. Its very low annual charge at about £25 and its not performing badly. Over recent years 20%/annum on average and since she left to become self employeed its 100% up. Its not mega bucks at about £15k but we want to start getting the benefit of the 20%…
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Claiming tax relief
Hi all I am 57 and currently in receipt of my LGPS pension. I work for the NHS and have been paying in to my NHS pension for about 5.5 years. I have worked out that from April 2026 my combined income from wages plus pension will take me in to the Higher rate tax band which is 42% in Scotland. To avoid this I am considering…
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Most recent: Proof of Class 3 Validity - Working Abroad by sheramber
3 March at 11:25AM
