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Pension
OK here goes. I am now living in Bulgaria and have done for the last 4 years. I have recently reached the pension age of 66 so I get my state pension. I have a private pension (which I have not contributed to for over 10 years) and a few months ago I informed said pension company I now resided abroad. Sent proof that I…
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SSAS Pension Problem
Briefly, I have a SSAS which was started years ago. I am now retired and the my company does not exist any more. There is a factory in the pension and virtually no cash. The rent gets paid in monthly and amounts withdrawn to live on. The pension company does nothing, the little cash is in the bank they specify, and they…
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Retirement plan and options
Hi there. New to this forum so apologies if I don’t get the format right. I’m looking for some advice. My wife and I are both 56 and looking to retire in 2 years when the kids finish university . We have a couple of DB schemes which I calculate will pay out £60K a year after reductions and tax. We have £200K in cash ISAs…
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True Potential - Miss-Selling?
Hey Lovelies, I was with True Potential for quite some time until around 2020 - never heard a word from them apart from an annual statement - no advice offered etc. I was transferred to them when my local IFA became part of them in some way. I've been contacted today by a firm called Pacific Legal in Glasgow saying that…
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Fixed Term Annuity v Gilt Ladder
Happy Sunday Using money helper website £225K buys 10 years fixed term income at £28K. Using gilt ladder £28K per year costs £226K. Am I right in thinking annuity carries no risk (apart from inflation), gilts have some risk but benefit from more favorable tax treatment? Also, appreciate a fixed term annuity would trigger…
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NHS Pension & leaving the NHS.
Basically wondering what happens to your NHS pension should you leave. Not to opt out, not to retire but to leave - to work for a different employer. I understand that many workplace pension schemes work the same. Work for this local employer, that one, the one man band down the road & you're being enrolled in to something…
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St James Place & Financial Ombudsman Decision
Hi, Wondering what to do and if anybody has been through the same and found a good solution. In short, my pension was moved to SJP 10 years ago. The advisor we new personally, and we understood we were being looked after. After selling my company and taking early retirement, I reviewed my pension and the performance was…
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CS Alpha - early reduction factors
I've been looking at what I think are the reduction factors for taking Alpha early: Factors Guidance Hub | CSPS_GB My NPA / SPA is currently 67. I have also been buying EPA -2, but not for the whole duration of Alpha, so I will have two parts with different nominal retirement dates (age 65 and 67) but which must be taken…
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Claiming higher rate relief for additional contribution using online form
Greetings, I made a one off contribution of £60k from my bank account to my workplace pension, HMRC advised I can write to claim higher rate relief but they also said I could try their online tool which has been mentioned recently on the forum. Has anyone used the online form for a one off payment to a workplace scheme and…
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Adding funds to a pension after taking tax free cash
About a year ago I took some of the 25% tax free cash from one of my pensions. I took 10% - The pot was £60k and I drew £6k which I used to pay off a loan and credit cards. The pension pot has almost now returned to the same level. currently £59,250. Can I now pay in some savings? I have managed to save up £3,000. I have…
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DB pension forecast - what assumptions to ask for when requesting a forecast
By way of background once a year I request my DB pension forecast
from a workplace (private sector) I left in c.2008. They are willing to forecast up to five years’
away (i.e. if I request the forecast in November 2025 they will forecast my
pension as though I commence drawing it in November 2030). The DB pension comprises…
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25% Tax Free Question from a SIPP
I believe once you have crystallized your pot and taken the full 25% tax-free any investment gains on the remaining 75% will not be eligible for further 25% tax-free, correct ? Alternatively, what happens if you take a regular “salary” from your pot with 25% tax-free and the remaining 75% taxable, assume 3% safe withdrawal…
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Management co may have lost pension records
Hi all. I have 18 years' contributions, originally in the civil service, and then sold-out to a private company under TUPE. After I left, there were a couple of further ownership changes. Having never received a statement of benefits, I attempted to contact them last year and eventually got someone to reply earlier this…
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Annuities and IHT
Is anyone looking at annuities which leaves a balance on death to a spouse and potentially avoids IHT ?
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Tiny pension from previous employer
Hi there, I have a tiny pension pot from an employer I was with for about 2 years. The sum is only about £200 so far (estimated to be around £400 at retirement age). As I've found I cannot withdraw it, what are my best options please? I was hoping to withdraw and put it into a savings account but from the little I've read,…
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HL 2880 to 3600
Hi i paid 2880 into sipp which has been increased to 3600 and i am now trying to withdraw it I have been unable to set up a Nominated Bank account on line I rang them and they said i had to decide how i want lump sum before they send me application to withdraw. crystalizes something I am so outta my depth , i have small…
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Can I buy a deffered annuity now?
I've researched annuities a lot and have finnaly finnaly decided to buy one in the next few weeks and definitely getting it locked in before before the next budget. I've decided the amount of cash I'll use from a DC SIPP to fund it and picked RPI with Value Protection VP of 75% as 75% just felt like best balanced value, I…
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Defined Benefit Pension...buyout in 2001. Compensation received but query of terms on lump sum.
Hi...I had a company DB Pension during the 1980's that I transferred to a Buy out when I changed jobs. I then received a letter from the Pension company saying they might have missold and do I want to claim. I did and the Pension company transferred the pension scheme into one that had the same rights as the original…
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Any point to choosing UFPLS?
The main difference between UFPLS and Drawdown would seem to be that with UFPLS you have to take both tax free and the taxable income straight away. With Drawdown you take the tax free and can leave the taxable portion invested and can withdraw from that amount at any time - even the next week if you wanted. As you have…
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have I missed something?
Thanks in advance I have taken early retirement at 55 I have approximately £700k in 2 pension funds I currently have an income of around £30K I am assuming once I take my state pension and private pension I will be paying tax at 40% I don't need to take my tax free lump sum yet I want to make the most of the next 17 years…
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735 discussions
6.4K comments
Most recent: State Pension Forecast and Buying Years by molerat
22 February at 4:30PM
