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DB pension query .
My wife and 5 of her retired friends go for dinner occasionally . They have all worked for the same company for many years . In conversation it came up that four of them who took the big lump sum a few years ago have received a cheque as some kind of a top up while the two who took the 25% tax free lump sum and the monthly…
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Funding Retirement Until State Pension
I have sufficient income from an indexed linked DB pension and State Pension at 67. I want to retire this year at 60. To top up my DB pension until 67, I plan to use my crystallised DC Pension and cash ISA savings. The total money is split 60:40 between DC and cash ISA. If I match inflation, I’ll need 50% of the DC/Cash…
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Overzealous in contributing to workplace pension, or the right amount?
Currently I put in 16% of my wage to my workplace pension. 10% by me, 6% by employer. I got this figure as, although I had been putting in money to my pension beforehand, I decided to go "Right, come on" at age 32. I'm late 30s now. To give numbers, I'm currently on 117k (current salary ~37k). Projected annual income,…
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FIRE Girls Pension Diary - Aim High & Dream Big
10 year targets are set and I'm aiming high and dreaming big. :) A bit of background. When I was young I grew up with a family of 4 children, Dad worked and Mum stayed at home. We had very little material things or new clothes and I remember I was always dreaming of how I could possibly become a millionaire. So why not…
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Crystallisation and Annuities
I have a crystallised pension portfolio with Royal London. I have not taken any taxable income yet. I called them this week to ask about taking a portion of the fund to buy a fixed term income. They informed me that it is not possible to do that, however i could buy an annuity type product using all of the fund. Is this…
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Teacher phased pension
Good morning, My wife, at 60, has gone down to two days a week with a view to retire completely at 62. The Teacher's Pension company Wesleyan, is impossible to contact, we have tried for years, but we now need to fill in the phased retirement pension claim gobbledegook. I have pasted their guide to the phased retirement…
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Should I retire? How best to use my money?
Hi everyone, first post here, looking forward to some help with my issue. 64 year old female full time salary 38k, also receive 18k NHS pension, will receive full SP in 2028 at age 67. I have 40k in a Royal London stakeholder pension from bank work and 100k in Cash ISAs. Previous part time bank work as and when I wanted…
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TTFAC supplier?
I had two PCLS in 2022 for £30k and £40k from DB schemes. I have the BCE paperwork from both to enable a TTFAC application if I wish to. I need to study the numbers carefully. I'll be taking another PCLS later this year from a SIPP. It seems I have the option of applying to the SIPP provider, or either of the '2022' DB…
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Thoughts On First Time DIY Pension Plan
Situation: Transferred an old obsolete £27k DC Pension Fund into a SIPP. It’s currently siting as cash ready to be invested. I’ll add a
further £16k over the next 12 months to gain the £4k Tax relief. Total Fund
£47k. Intend to retire in 12 months and more or less deplete this
DC Pension by the time of State Pension in 10…
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More structure in SIPP Portfolio 10 years to go
Longtime reader first time post I think. I have 10 years to go till retirement and I have been looking to restructure
my investments. I currently have an odd
mixture in SIPP that have evolved through me dabbling, they is a reason and research behind each one. At the end of 2025 I realised a more serious approach was needed…
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retirement plan
I'm a 60 yr old, retiring in April.I have £12,000 a year coming in from a DB pension, £180,000 in fixed term bonds and ISAs, and 30k in an instant access account.I have expected outgoings of £24,000 this year. Goes up by less than 5% (checked several yrs bank accounts, although can't guarantee I guess).No debts, no…
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Interactive Investor first Drawdown withdrawal
I requested a one time drawdown from II of £1100 so that I could get a tax code applied. I have not received any money yet but the gross amount had been deducted from my cash. I noticed that they have now updated a tax code "1257L" and tax basis "Month 1". It says on their website this code "was received from HMRC". This…
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Pension Recycling Rules 30% Limit
Hi, I'm hoping someone can help me with this. I withdrew max tax free lump sums from 2 pensions a few months ago - a defined benefit and a defined contribution (SIPP). I was planning to retire or at least semi retire. The amount was more than £7500 for both withdrawals. I decided to go for one last working opportunity:…
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Pension Recycling Rules and Gifting
I am about to start receiving benefits from my SIPP via UFPLS. I have no immediate need for the funds so am going to gift the money to my wife. Should my wife then decide to put some or all of the gifted monies into her SIPP and receive tax relief, would HMRC regard this as pension recycling?
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Help Needed Please
Hi everyone i am about to be tuped in the next three months. The situation is that my new employer will be introducing a new pension scheme which therefore leaves my existing one with no further contributions (I have a DC pension with Standard Life). My question is having three years left of employment what are my options…
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are Aviva scamming us?
I instructed Aviva to cash in my pension, filled in the appropriate forms and got confirmation in writing that payout should be within 15 business days of the 1st December, I booked a builder to do some work beginning the 6th January expecting the funds to be in my account by 22 Dec, nothing arrived! I called Aviva and was…
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Moving pension pots for the best annuity
My wife will retire in 6 months time. She has two private pensions, so needs to make some decisions. She wants to take them both as annuities, as an inheritance has removed the need for any lump sum, and she dislikes the risk of drawing down from a finite pot. I realise that draw-down might well mean more money, but she'd…
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Moving DC pension but don’t know where is best
I have an old small DC pension. In 2012 it was £4200 and in 2025 it was less than 8K. It has gone up by £3600 in 13 years. I am going to move it but how do I find out where is best? I have another old DC pension which is doing better so I could move it to there. I am not working because of illness so won’t be contributing…
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Private Pension won't pay
Hello I wanted advice as my partner of 25 years recently passes away. He had an American private Pension which he was receiving and filled in the expression of wish form which had me down to receive the pension as I was his power of attorney and next of kin and his common law wife and sole beneficiary on his will. The…
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Should I start planning to move money from my SIPP to ISAs?
Some basic facts and figures. Age – 59 Recently early retired DB Pensions (just started receiving) - £26,500 / yr fully indexed
linked SIPP - £500k approx. SSISA - £350K My number – I need about £35k / yr Cash – c.£70k for emergencies and such like. Mortgage free and no debt. SP – full amount expected. My objective is to…
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: Voluntary National Insurance contributions by pinnks
15 January at 11:27PM
