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Who does my pension company invest in?
I'm trying to find out and want to ensure their investments are ethical in my view. This kind of touches on politics, but I don't want to discuss that and will not respond to any political questions as it's not allowed here (quite rightly) so....... I am 66 and retired and like many, have a few workplace pensions. One is…
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Contracted out National Insurance Contributions
I enquired why I was receiving a reduced state pension and was informed that it was because I was contracted-out of the state scheme for a period. I have 46 State Pension qualifying years however, apparently for 14 of those years I was contracted-out and was totally unaware. To get the full basic State Pension you need a…
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SIPP and ISA savings and tax efficiency
Hi, I've turned 50 this year and have finally started to try and put a bit more thought into retirement planning, beyond just "make sure I pay into a pension and have some savings". I'm considering early retirement in my early 60s. I have two questions if anyone can assist. 1) It seems to me that saving more into a SIPP…
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Carry Forward contribution on SIPP
Hi, I didn't use the £3600 allowance that I can contribute to my SIPP last year. Can I carry that forward and contribute £7200 this year? Is there anyone I need to inform, such as HMRC, if I do this? Thanks.
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AI Gilt Ladder from Microsoft CoPilot
I just punched in "I have £50000 to invest in a 5 year ladder of UK gilts please build". It looks pretty impressive to me. The coupon is not much to shout about but the capital gain looks quite impressive and this is for money I have to invest outside a pension or ISA because it's from pension tax free cash and I can't get…
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'Pre Retirement' - Is this a sensible plan?
Hi, I was hoping to
get a sanity check on my thoughts on trying to efficiently start withdrawals
from my pension, whilst bulking up my cash ISA a bit before retiring. Currently 53yo and
able to retire at 55, otherwise will have to delay until 57 due to DOB. Interactive Investor
SIPP value is £560k (mainly VWRP and HSBC…
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Tax relief question re. annual allowance
I'm trying to work out how much SIPP contribution I should make at the end of the current tax year to maximise the £60k allowance. For 2025-26: Salary: £99,486 (made up from two employments in the year) LGPS growth estimate: £23,412 (both employments are LGPS) AVCs: £18,000 (taken from salary before tax, so full relief…
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Backdated pension contributions
Hi, hoping someone can answer my question. Following the winning of an age discrimination lawsuit I now owe £5000 in the contribution difference between what I should have paid and what I actually paid over a 7 year period! Obviously I’m entitled to tax deduction from the years I would have paid it so I need to pay £4000.…
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Existing Flexi ISA to new Flexi ISA
If I want to transfer some funds from my existing Flexi ISA and open a new Flexi ISA. I should ask the new Flexi ISA to do a 'transfer out request' to my existing Flexi ISA (to keep the ISA wrapper). I only do a withdraw / bank transfer when I am taking the money out to use or pay into a non ISA bank account ?
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State pension commencement letter figure right but wrong.
I received my letter today from Dept for Communities (NI) informing me of what i will be paid from november for my state pension. It is based on my NI payments to date. I have paid my NI (self employed) for 24/25 with my self assessment in June 25 but my NI record hasn't been updated yet! Will I need to contact the…
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25% Lump sum - MPAA
I'm 52 and have 3 separate pensions. I was thinking of taking a lump sum at 55 somewhere below th 25% tax free amount and continuing paying into my pension until i retire at 65 - Im i correct in thinking that if i do this I can only put up to £10k into my pension per year because of MPAA? My pensions are with Pru, Aegon…
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Civil Service Pension Scheme - More Delays
Just tried to log in and check out what the schedule is for ABS this year 0 nothing showing yet but also this message: Due to ongoing industrial action, you may experience significant wait times when calling our phonelines. We're prioritising customers undergoing financial hardship, bereavement or a pending payment. For…
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Adjusted Net Income with Relief at Source Contributions
How do I calculate my adjusted net income please? I asked my company to make a £375 contribution per month to my pension. My payslip shows £300, which figure do I use for calculating my ANI? My total annual gross income takes me into the 40% tax bracket and, at this level of contribution, the whole contribution amount sits…
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Teacher's Pensions Transitional Protection Payment
Hello, I was just wondering if there was anyone here who has retired from teaching and have received their transitional protection payment. I returned my form nearly 6 months ago and have contacted TP asking if they were still on track to make the payments within the 6 month window they had allowed themselves. I have sent…
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Royal Mail Pensions
My hubby has pensions with Royal Mail. The first being the RMSPS that ended in 2008 then the Royal Mail Section C plan since then to recently followed by a collective plan tat started last year. WE have been told he can take a lump sum from the RMSPS but not from the Section C plan - They have made these pensions super…
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Is opening a SIPP the answer?
I'm currently 57 and in full time employment with the NHS. I have one LGPS DB in payment and plan to take the NHS DP in 10 years or hopefully much sooner if circumstances are good. As things stand, I am going to be in the higher rate tax band in Scotland from this year onwards, so tax on over £43,663 will be paid at 42%.…
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Timing and order of DB access and DC withdrawal
I’m looking for opinions on some real life numbers. Whilst
being a (self-confessed!) person of moderate intelligence, the options are
numerous. I know there won’t be a perfect answer and I do fully understand the
mechanics of DB and DC pensions. It'll be post that most look at the numbers and skip by...but some people love…
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Annuities or take the cash ?
My first ever post, your thoughts would be appreciated as I have no financial acumen and am going round in circles. I am 60 and my freestanding AVC has matured and I have £36,500. I want to take the 25% tax free ( £9000). Do I get a drawdown product, a fixed annuity or a lifetime one at £ 1300 pa ( escalating, joint life…
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Paying deferred State Pension into private DC pension - tax status?
I deferred taking my state pension when I was eligible 7 years ago (in 2018) and I'm considering claiming it now. I'm still working occasionally and drawing a (USS) defined benefit pension and pay tax at basic rate. I also have a small (c. £20K) defined contribution pension (with Aegon) from a previous employer. According…
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Bond element of pension portfolio
I posted here last year as I was trying to work out some sort of strategy for my SIPP in retirement. One of my questions was about the extent to which I needed to follow the common guidelines like a 60/40 equity/bond split, given that we will also have a reasonable DB component coming in. In the responses, there seemed 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: STATE PENSION FORECAST ERRORS by Papa_Roo
3 November at 5:45PM
