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Understanding how the Pension Protection Fund would consider a previous lump sum payment
I will start drawing from a deferred DB scheme next year and have been wondering what would happen should the scheme end up in the PPF. In terms of likelihood, I’m confident this isn’t imminent or inevitable but the organisation is in a troubled sector. My question is about lump sum payments and how/whether the PPF takes…
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Early (forced) retirement. Which db pension option to choose?
Hi all, interested to hear which of these 2 options you would take (or a third in between option) in my position, and explain why please (defined benefit pension). Made redundant, and want to retire now. The important bit, I need £1100 a month to get by - and the pension and savings interest (approx 4k a year tax free) is…
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State Pension forecast - quick question
I'm 58 and I've paid National Insurance for the last 40 years. I was just looking at my State Pension forecast at https://www.tax.service.gov.uk/check-your-state-pension/account One thing I'm not clear on. Is the forecast based on the assumption that I will continue to work and pay National Insurance from now until my 67th…
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Armed forces pension and divorce of German spouse.
I have a close friend who is a German citizen and is currently divorcing her ex forces British husband. (She lives in Germany). Her solicitor says they are unable to include his UK army pension in the divorce. Would anyone know if this is the case ?(is it because of brexit etc now?) Most of the advice given is for UK…
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Financial Advisor advice
Hi all I'm 55 and other half is 53 and I feel like I should get my finances in order and start planning when I want to/am able to retire? I get so many adverts on my social media feeds saying "Do you have a 250k pension - download our 9 must do things' or "Do you have a £750k pension - don't fall for these 5 mistakes,…
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NHS Pension Scheme Pays
I am looking at pension contributions in excess of the annual allowance of around £28,000 this year (even taking into account carry forward) and am trying to work out if it is best just to pay the tax on this or to use scheme pays. My understanding of how the annual allowance charge and how the scheme pays works is as…
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It is about time they changed the law, requiring a FA to deal with transferring away a DB Scheme
In certain circumstances, as my own, below, it is about time they changed the law on requiring a FA to transfer out a DB scheme. It is scandalous what a FA will charge, for, basically, what is just a form filling exercise. I am looking to transfer my DB scheme to purchase a Lifetime Annuity. An Annuity with Standard Life,…
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Creating my own All-World Tracker with AVIVA
My pension has recently been transferred to AVIVA, and I now have more control over how it is invested than I did before. Ideally I would like to invest all of it in an all-world tracker based on something like the MSCI ACWI, which according to https://www.justetf.com/uk/how-to/msci-acwi-etfs.html is a combination of the…
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LGPS Scotland and Ill Health Retirement
Hoping someone may be able to advise on the following scenario. Been of work for 12 months when work arranged an "Ill Health Capability" meeting at which my employer terminated my contract on grounds of ill health and me being unable to do my job amd was given 3 months notice period. Ill Health Retirement was enquired…
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early retirement reduction factors CS pension scheme - different for active/deferred members?
I have a mix of Alpha and Nuvos pension - thinking of leaving the CS next year after 17 years. Checking my account and MyCSP doesn't have the retirement modeller on it any more? From memory it would be more advantageous for me to take Nuvos/Option A but I am still working things through. Are there any differences in the…
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Drawdown Query AJ Bell
Say you have £400,000.00 in your SIPP and you need £50,000.00 to pay off a debt, Mortgage etc. 50K represents 12.5% What do the remaining 87.5% balances look like in your SIPP control panel ? Will you be able to see a £150,000.00 crystallized balance which is taxable and an uncrystallized balance of £200,000.00 of which…
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To take or not to take? TFLS
Nearing early retirement in 18 months at 60. A huge part of my plan is the tax free lump sums across a small mix of DB and DC pensions - all added together projected over £200k but less than £268k. Plan is to take it all and would be used for home move / mortgage clearance in 18 months. Speculation is of course rife about…
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How to transfer private pension into a less volatile market
Hi,my pension has just recovered after 18 months basically back to where it was. Im looking to retire in the next 12 months at 58,I don't really want long term investment and I'm basically happy with what my pension has made,I plan to spend the money over a ten to 15 year period. Any ideas on placing my pension into…
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Pension worth more transferred
Hi I have a pension with Aviva, when I checked the value the fund it almost doubled if I were to transfer it out. My question is to where would I transfer it in order to double my money.? Thanks in ady
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Taking TFLS. Rest is invested?
Hi, I am taking entire TFLS next week. Does this mean the rest of 75% is considered as a drawdown pot? If yes then how does it different from current 100% invested? What are they key differences - please explain I am totally blank Thanks
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Tesco DB Pension not performing - transfer?
Hi. i have a pension with Tesco and due to retire in 7 years time. My Transfer Value has almost halved in 4 years and probably brought on by the £9Billion losses from LDI’s that surfaced in the news in 2023. It’s still underperforming in 2024. I have a SIPP currently performing with a very good return but would it be a…
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Removing TFLS and where to leave residual funds?
I'm just in the process of removing my remaining TFLS available to me from a SIPP and will then of consumed the full 268ish finally. My example is like 600K in SIPP and 100K TFLS still available. SIPP provided advised me when I pull out the 100K, then 300K will move in to drawdown and these funds will be crystallised. They…
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Transferring out of a defined benefit pension to an annuity. Getting charged £13000!
I want to transfer out of my defined benefit pension to an annuity because for my personal circumstances none of the supposed benefits actually benefit me. So I'm trying to find an IFA to do this and one IFA that has so far replied will charge 3% of the pension transfer value or about £12000 and £1000 for their advice. I…
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Help Please - Bonds Asset Allocation
I'm currently being really indecisive over how I will choose and allocate to Bonds in my Portfolio for retirement. Looking at ~35% allocation to bonds. Currently 7 years away from retirement, and expect to draw down from that pension for rest of my life, some potential for an annuity purchase during my lifetime but no…
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French pension - claiming for first time
Hello, I'm asking a question on behalf of my husband, who wants to claim his pension for working in France for a couple of years. When he goes into the 'Demander ma retraite' section on the L'assurance retraite.fr website, he is asked for his Social Security number and password. But he has no password. There is an option…
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