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Vanguard Pension Tax Free Withdrawal
Has anyone managed to withdraw funds from their Vanguard SIPP without having to book an appointment with a so called Pension Advisor?
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Lump sum payment
Hi, after some help please. I am drawing a lump sum from my pension (im still working full time). Im already a 40% tax payer (public sector employee) and the amount i receive from the withdrawal will push my income for the year into the 45% tax bracket. I know i have to pay HMRC the tax on the lump sum but what happens…
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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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Paying redundancy payment into private pension
Im 57 a higher rate tax payer and am due to receive a redundancy payment some of which I will need to pay tax and NI. Is there any reason why I shouldn't / can't put the part of the redundancy payment that is taxed into a private pension and claim back the tax. Ive enough pension allowance banked from previous years. Am I…
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Pension transfer as part of divorce
As part of my divorce, I am due to receive £100K and need to place this into a pension. Any advice on how I choose a pension provider? What I need to consider and what I need to be aware of?
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McCloud Remedy
I joined the NHS pension scheme in 2003 and left the service in 2022. So a large proportion of my pension is affected by the McCloud Remedy. I am now 60 and was hoping to take my pension this year, so I need a comparison between the standard pension and the remedy. I have been in contact with the NHS Pension, but with no…
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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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Topping up state pension .Which years ?
I was missing 7 years , I bought two years after 2016 which brought me up to 35 years . I still needed to buy 5 more years as I was contracted out until 1991 , I was then receiving credits until 2009 . I've recently received a letter telling me I can buy years after the April 25 deadline so after another call to the future…
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Nhs pension question
What is the difference between a one off payment with no PCLS and one off payment with maximum PCLS ?
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Take 25% tax free lump sum before budget?
I have unit linked pensions with 3 insurance companies. Does it make sense to take the 25% tax free lump sums from these before the budget - just in case? If I do, I'm not sure what to do with the remaining 75%? I'm between 70 and 75. I'm not very interested in managing the investments, but I'm not sure I want an annuity.…
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Partial drawdown management
I've been drawing money out of my Standard Life money purchase pot, and have not yet reached my 25% tax free limit. But when I make a withdrawal an amount equivalent to 3 times that withdrawal is out into a separate pot for future taxable withdrawals. However that pot doesn't just hold 75% of my money at the time of…
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L&G sent letters to change pension fund/scheme should I?
Currently in L&G pmv multi-asset fund 3 L&G (pension pot from my previous company). Received letter they will swap unless I opt out to L&G pmc lifetime advantage fund 2040-45. After some reviewing I understand the new fund would invest more aggressively until c. 10 years before my due retirement date may 2043 (though…
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SIPP + Teacher's Pension? Quit Teaching?
Lots of ifs and buts here, so please bear with me! Looking for general ideas. I'm 48, have taught part time (0.5fte) for 25 years and paid into Teachers Pension during that time. When people say 'total value of pension', I can't find that figure, nor will they give me one. All they will say is, if I retire at 55 I would…
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When to retire NHS
This is of very little import really as the amounts are very small, and we've had a lot of posts about the optimum retiring date, however the scheme information on the SPPA website doesn't go into this level of detail. I retired and took a part-time post with the NHS and started an NHS pension. I'm now thinking about…
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USS - General discussion
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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Civil Service Pension & Tax
I was retired from the Civil Service on the grounds of ill health in 2013 (I was in the Classic Scheme). Due to circumstances, I didn’t claim it at the time; I am now looking at doing so. My annual pension will be 12k. MyCSP have confirmed that it will be back-dated (ie 12k x 12 years = £144000). What I was hoping to do…
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strategy for withdrawing pension / reinvesting
I'm in the early stages of early retirement with my husband (ages 56, 57). At age 67 we will get the full SP plus about £2k p.a. DB pensions. I have a £940k DC pension, mostly in a SIPP, plus a £690 k ISA pot and about £160k in a GIA. My husband has a £1,280k SIPP, so he would have breached the old lifetime allowance…
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Tax on DC Pension
Hi, I'm hoping to move my works DC Pension next Oct and withdraw it as I will be 55 and I'm wondering how much tax I will pay. My total pay is £50,000 so will I get 25% tax free and then pay 40% tax on the rest? I have a normal works Pension, which Im going to take at 60.
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Tax on overseas pension
I’m about to start taking a db pension I earned while working for the States of Guernsey many years ago. HMRC regard this as an overseas pension and both the annual income and the compulsory lump sum will be taxable. I also still work part time in England on PAYE. How will HMRC gather the tax from my pension? Will they…
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Interesting report about retirement lifestyle (Quilter Retirement Lifestyle Report 2025)
I just came across the report about the attitudes and health of retired people. It is interesting to see that spending is far more realistic compared to the Retirement Living Standards: from PLSA or as they call themselves now, Pensions UK. It suggests that the average retiree spends £22,141 annually, with holidays,…
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703 discussions
6.2K comments
Most recent: HMRC call back wait times by molerat
29 August at 10:37AM
