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Is retirement boring?
After counting years/ months down, I find myself thinking retirement will be boring - I get bored when it's a long weekend like this one (Scotland got an extra public holiday for the football). I've therefore decided to stay on for a year or so. After renovations to the house and travelling, what else do retirees do? I…
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Making most of personal allowance in year of retirement
Hi All My husband is planning to retire on 7 June 2027. The aim is for him to utilise his personal allowance of £12570 before he stops. He is particularly keen to do this as he is currently 52, and will be affected by change in national minimum pension age so will miss out on a few years of tax-free cash as can’t access…
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Sipp transfer Help
Hi, I decided to transfer my AJ Bell Sipp , cash and stocks, to interactive Investor as there recent new platform charges were attractive, especially fx charges on US shares. Application started in mid May, and progressed well with equities transferred by 02 June, and cash settled on 10th June. I now need to take benefits…
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11 years of pension freedoms
So assuming people turned 65 11 years ago and took their pots, they're now 76, so approaching their eighties. I'm wondering how people plan to manage their finances in their 80s? Assuming they have reasonable assets then purchasing an annuity could be an option. I'm just not sure that in my 80s I'd want the hassle of…
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When to switch a Gilt ladder from nominal to index-linked?
Hi everyone, I’m looking for some thoughts on when it makes sense to choose index-linked gilts over conventional nominal ones within a retirement ladder. I currently have a 9-year gilt ladder. I love the peace of mind and calm it brings me. Even if I’m foregoing higher equity returns in the long run, it mitigates sequence…
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Funds for a short term sipp
Going to open a sipp for o/h. Hoping to get around £30k invested over next 3 years & then draw down probably around 7k a year for 4 yrs, until state pension arrives. I know options for investment over this short of term are limited. But does anyone has any thoughts on what to do? I use Hsbc GS balanced in mine, which has…
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IFA to restricted adviser
Having spent many years as an employed Independent Financial Adviser (IFA), my employers have sold their business, and in three months' time I will become a Financial Adviser (FA). For a long time I have told clients, prospective clients, posters on these boards, and indeed anyone who will listen that if they are going to…
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Pension pots for over 75 year olds
I currently save into a workplace pension with Royal London. I will be 75 years old next year but am still in full time employment, I expect to continue in my job for a few more years yet. Royal London have my retirement age as 75 so I asked them if this could be changed to 80 but they replied that they do not accept…
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Higher Rate Tax Relief SIPP
edited to add Self Employment income £90k Hello. Hoping someone can offer some experience of entering SIPP on self assessment? This is the first time for paying a SIPP and so just filing my self assessment. I have entered the payments in the tax relief section £60k, and this obviously then increases my basic rate…
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winter fuel payment - anyone planning around it?
not sure about this one. Currently winter fuel payment is universal, but for this year onwards it is being capped at 35k income. I think its per person so not measured per household. If you earn more than 35k it’ll be clawed back via tax code (fun, they’re enough of a PITA already thanks) I think even without change we’ll…
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UK retirement planning tools
Hi,I'm looking for a DIY retirement planning and drawdown tool that can make suggestions, especially around tax. There are lots of options in the US, but in the UK I can only find a product from Retireeasy.co.uk. Does anyone have experience with this tool, or know of UK alternatives? Thanks,
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Does getting an annuity from pension after taking tax free lump sum trigger MPAA?
If I take the 25% tax free lump sum from my pension, then leave the remaining 75% untouched, and then at some point in the future, say 10 years later, I buy an annuity with this money, does that trigger the MPAA? We will have surplus income, and I’m trying to work out the most tax efficient way to pass it on. As my…
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SAL RSA Pension Scheme Wind-up
Today I received a letter giving first formal notice that as part of the buy-out process and wind up of assets for my deferred DB pension scheme with SAL. My question is: how do I know they will meet all the liabilities, apart from a promise that ‘they will’? How can I check? I was last able to request a quotation of my…
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AVCs Attached to a Final Salary Pension: keep as is or move to main pension pot?
Hi all, I (M43) have just obtained an illustration of benefits for a final salary pension and a small amount of AVCs. Summary if taken at age 55: AVCs: £6832 DB pension circa £4688 per annum. I’ve been given various options at retirement to use the AVCs including taking tax free cash, converting AVCs to a small annual…
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Strategy Change in lieu of 2027 Pension and IHT legislation
I can't be the only one who is seething about the 2027 IHT changes next April. I am still trying to reconcile the impact. I have spent the last 30 years building up a sizeable pot to fund my old age and leave something to pass on to my children upon my death. I have been over multiple scenarios and keep coming back to the…
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Avoiding the 40% tax on pension pot withdrawal
My understanding is that at 55 (soon 57), I can start to withdraw from my pension pot. I can take 25% of the pot up to £268275 tax free and then £50270 per year at 20% tax (or less), assuming I have no other income. How big (small?) a pot do I need to avoid the higher rate tax in my lifetime and still withdraw the whole…
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Fidelity SIPP Personal Statement Issued to Employer - Data Breach?
I have a SIPP with Fidelity, into which I have a regular payment set up for my salary sacrifice from my employer. I discovered today, after finding a stack of documents on my desk, that Fidelity have sent my quarterly statement to my employer. This lists all of my investments and how they have performed in the last…
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Is there a really detailed online method to check NICs?
This check https://www.gov.uk/check-national-insurance-record only tells you if years are complete or not. This matters when checking your state pension eligibility. I'm going through my & wifes records online and called HMRC about some discrepancies. They don't seem to be able to go into any details but one HMRC helpdesk…
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Help finding an old pension
I was talked into taking out a private pension when I was around 18/19, I opted out of SERPS and I have contacted HMRC and they have given me the name of the pension it was paid in to but not the company. I called the goverment pensions tracing and they gave me a number which is not active. I have contacted ReAssure who…
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Freetrade SIPP - Payment of tax relief
I've just topped up my Freetrade SIPP and would like to know when I can expect the tax relief to hit my account. Does anyone have any experience to share? From memory I think with HL, for example, you can work out the payment date (something along the lines of contribution up until 6th of the month then tax relief is paid…
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: If You Have Registered For A … by MicKeat
4 July at 4:15PM
