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How best to plan to use some of a (currently 100% equity) DC for an annuity in six years time?
Firstly, apologies for the long post - I’m not
great at brevity and have attempted to answer many of the typical questions I see
in similar posts here upfront. Planning to retire in around six years (at 57)
when I can access my DC company pension. I’m fairly confident I will have ‘enough’ saved by then across…
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Pension Drawdown - Annual or Monthly ?
Assume I have a pot of 400K and I have decided a safe withdrawal is 4% Would you take one £16,000.00 per year or 12 x £1,333.33? J
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Insolvency
I’ve had a private pension since 2014 transferring my army pension and another private pension into this in about 2017 the dolphins German property group went into liquidation and I lost a lot of money however at this time I was 55 and have been told I should have been removed from high risk investments I still have my…
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Is the 4% rule still applicable today?
I’ve read a number of articles that Bill Bengen who came up with the 4% rule for drawdown is stating that he believes it is more appropriate to be drawing between 5.25% and 5.5% due to ‘today’s’ economic environment. What are people’s thoughts on this?
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Now self employed, restart previous private pension other start new and transfer in
Hiya. I'm 48, I've got a LGPS pension which I dont want to transfer, ive now become self employed and looking at sorting a private pension. I have previously paid into one in 2007/08, thats got £20K in at present. Im wondering about starting paying into this again or setting up a SIPP or personal pension and looking at…
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Higher tax band - Claiming back
For about 18 months I was in a higher tax bracket of 40% I was also in paying into a private pension. (coming out of my bank account) I didn't realise at the time, but I was loosing out. They were adding an additional 20%, but I was entitled to more. I understand one way to get this money back is to do a tax return. Is…
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Pension Withdrawing at 57
I have 4 pension pots, can I draw 25% tax free from all of them when I reached the eligible age? Thanks for advising
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State Pendion confusion
Martin's discussion today about Aoril 2026 pension increase refers to the maximum full state pension of £230.25 pw. I'm paid 4-weekly and get £961.40. Multiplying this by 13 gives £12,498pa, which is £240.35 pw. My HMRC app confirms my pension as £12,498 - can anyone explain the reason i get more than the maximum?
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Looking to Protect My 25% Tax-Free Lump Sum
Hi everyone, I’m hoping to get some views on a pension strategy I’m considering, especially with rumours swirling about possible changes to the 25% tax-free lump sum in the next Budget. I’ve got a defined contribution pension through my employer, and I’m able to transfer out up to 95% of it without affecting the employer…
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Higher rate relief calculations
I recently informed HMRC via the online chat of my SIPP payments for 2024/2025 and wonder if anyone can check / confirm their calculations are correct? In addition to the screenshots, my gross salary is £65,547 + approx £1200 in O/T, I pay 10% ish towards my work pension. My SIPP contributions for 2024/25 were £3040 net,…
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If I start taking a DB pension does it trigger MPAA????
I have two pensions for my retirement that I have not taken any income from: 1. A deferred DB scheme worth about £25k per annum. 2. A DC scheme I am currently contributing to from my employment worth about £650k. I have already contributed £11k into this DC pot this tax year. I am retiring shortly and wish to start taking…
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Autumn Budget 2024: Pensions subject to Inheritance Tax from April 2027 – but most still won't pay
Pensions will be subject to Inheritance Tax (IHT) from April 2027, the Chancellor has announced, though the vast majority of estates will still not pay IHT despite the changes. Read the full story: Autumn Budget 2024: Pensions subject to Inheritance Tax from April 2027 – but most still won't pay it If you haven't…
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"Average Earnings Growth" and triple lock
The triple lock is based on the "Average Earnings Growth" figure for July 2025 (released in August 2025) and the CPI for September 2025. Does anyone know what the "Average Earnings Growth" figure is for this July? I'm finding it very difficult to track down and find out if it's the figure including bonses or not.
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Underpaid pension?
Any ideas please? I retired in 2020 at the age of 66. I have been aware for some time that I am not getting the full pension amount (currently about £90 every 4 weeks less than full rate). I do not understand why. I have 33 years full pension until 2008 and then I became self employed. I have a whole year- 2008/09- with no…
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Should I put an inhertiance into pension pot?
After a bit of inheritance/pension advice if I may: I’m in my mid 40s and just inherited about £100K that I don’t
particularly “need.” I don’t have any debts, cars or mortgage to pay, kids too
young to need significant lump sums at this stage in life., maybe in 10 years. I’ve been self-employed for a while and don’t have a…
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Married tax allowance and state pension?
Hi, for 5 or so years before I retired I gave my unused tax to hubby as I didn't work. I have now been retired for 4 years and he still benefits from this. But now with the pension increases I am getting closer to the tax threshold . I only have the state pension but I did manage to purchase some back years which really…
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Carry forward's calculation
Hi all, Intending to use my carry forwards allowances this year and I would be grateful if someone knowledgeable would be willing to double check my calculations: Current annual salary £82.6k; Bonus £14k; 25-26 Available Annual Allowance: £108,938: 25-26 Pension payments to date: Salary Sacrifice £8,156; Bonus Sacrifice…
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Taxation over £100,000
If you receive a previous employment defined benefit pension at age 65 which takes you over the £100,000 income taxation limit can you bring yourself back below this limit by using your AVCs in your current employment defined contribution scheme until retirement at 67.
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Frequency of changing invested funds
Hi all, I have two workplace pensions with Aviva. One is a leavers pension from my old company and the other from my current company with ongoing contributions. I'm not keen on the range of possible investments with Aviva so have arranged a transfer of both accounts to an AJ Bell SIPP (which I also use for my stocks and…
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Civil Service Pension Savings Statement
I've just received my 2025 pension Savings Statement - I've spent many hoours working out what this should be , at least approximately - I have some in Classic (PCSPS) and some in alpha. The answer I was NOT expecting was that both should show Pension Input Amounts of £0.00 I'm obviously quite happy if they are both right…
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