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Effect of Civil Service Pension on Private Pension
Hi I'm unsure as to how a civil service pension can affect a private pension or are they classed as completely discreet? I have asked the question to the CSPS but they have not answered. I left the Civil Service 10 years ago draw my CS pension with lump sum at 60 next year but I'm still working in the Private Sector. Will…
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Life Expectancy Calculators and Prediction Tools
I know most of the regulars on here are fully aware that life expectancy is much longer than most people think. For an average person with no other information this is probably one of the best…
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IHT 403 and use of capital
Looking at IHT 403 I need to declare all expenditure and income. If I spend £3000 on a holiday and I pay for it by taking money from a savings account does this need to be reported in the Income and Expenditure sections and if so under what category?
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Civil Service Pension Forecast Query
I have submitted a query to MyCSP but they are currently taking months to reply, wondered if anyone here might know the answer. My Annual Benefit Statement shows my classic pension to be worth £406 less than it was last year when my P60 and Earnings as at end of March both show increases as would be expected due to a pay…
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Retirement , have I planned correctly or …not!?
Hi, looking for some affirmation on my ‘plan’ or advice if I have missed something. I’ll list my situation and then ‘the plan’ . 60 retirement age 67 Not working - left of own accord so am not claiming anything.(I know I could but..) Full NICs - so done and dusted can’t improve on c£12.3k. House - paid up (current value…
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Lump sum portion and recycling
Hi, I've turned 55 and can now access DC pension pot. I am thinking about taking some of the tax free lump sum to use against a debt in order to free up cash flow. It's a personal loan that I took in 2022 and wanted to pay off aggressively but inflation hit shortly after and beyond and pay hasn't followed suit. I am…
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spouse pension help
hi, my wife moved here 26 years ago, got British citizenship and has worked part time in various places and full time for a while in an old folks home. she stopped working at 60 years of age 9 years ago. she hasnt got a pension nor state pension. can she pay up for more pension creds from the gov, or use any of mine as ive…
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Post retirement pension intake and output
A question for the hive mind (might be just my mind failing) When I retire fully I'll have total pension income of, say, £40K and an AVC partly in drawdown with say £60K in it. So in a tax year if my pensions were £40K I could take circa £10K taxable from drawdown and avoid 40% tax. Now elsewhere on this clever forum it…
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Tax Free Lump Sums - which is best to take first?
Hi my Lovelies. This is my pensions spreadsheet working out weekend, so this may be the first of a few queries, and I'm hoping to pick your collective brains if you don't mind. So far I have calculated estimated costs going forward to 85 assuming 5% inflation each year - does that seem sensible? Now I am wanting to…
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Concerned about possible pension recycling – Hope I am overthinking this?
Hello all. I’m getting myself into a bit of a muddle over the pension recycling rules and would really appreciate a sense-check to see if my worries are justified. I’ve accepted an unexpected voluntary severance offer and now plan to take early retirement and access my workplace pension on 1 January 2026. My original goal…
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ALLOCATING TAX CODE
I'm currently employed in the 40% tax bracket, and also have a military pension of £26000. My employment has a tax code of BR against it and my pension has a code of K1470 M1. is this the best use of my tax allowance or do I need to seek advice.
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LGPS retirement & subsequent pay award
I was granted an LGPS Ill Health pension in June 2025. An annual 3.2% pay award was agreed shortly afterwards to take affect from 1 April 2025, which may increase may my final salary at my leaving date. 1. Should my annual pension and lump sum be recalculated to reflect the final salary increase? 2. If so will this happen…
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Cash ladder
I am planning my 5 year cash ladder and can lock this money in, from Year 2 to 5. As I have some emergency fund and investment if need be. Atom Bank currently have some fixed rates (1 year is 4.4% AER) https://www.atombank.co.uk/savings/fixed-saver/ I was thinking of STMMS and gilts but have read some posts and it seems…
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Anyone Acting Defensively?
I just wondered, as the (US) markets continue to forge ahead, if anyone has switched funds in their pensions to a more conservative position? I have all of my DC pot in the Vanguard Lifestyle 80:20 fund, but increasingly feel a correction is coming. Should I move a proportion into cash or leave well alone? (I don't need to…
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New Job pension - not salary sacrifice
Hi I have just started a new job and the work pension is apparently not done by salary sacrifice. The employer will contribute 5% salary but employee contribution is not by salary sacrifice. However, apparently if I opt out of the nominated scheme and chose my own personal pension i can still request the 5% employer…
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New SIPP with HL to create 3x Small Pots
I have been doing lots of reading on here (thank you all) and think I understand a possible sensible path in the first couple of years of early retirement. Please tell me where this plan is likely go awry or incur the wrath of HMRC. This or next tax year may be the last where I am a 40% taxed employee as I plan to retire…
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Difference between AVC and SCAVCs (shared cost AVCs/Salary Sacrifice) - LGPS linked?
I am trying to understand the difference between AVCs and SCAVCs (otherwise known as shared cost AVCs or Salary Sacrifice? Is the only difference that SCAVCs have the added advantage of the NI savings or is there anything else? If relevant, either option would be 'linked' to my LGPS pension in that it would be a separate…
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Taking DB pension early.
Hi there, Noob, looking for advice in the pre-retirement wilderness, if anyone can advise. I’m hoping to retire in 5 years (at 60) and have a small DB pension forecast to be worth 5k pa with a 15k lump sum. I’m considering taking it at 55, in which case it is forecast to be worth 4k Pa and a 12.5k lump sum, then pay it all…
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How do you "let go" of your working life?
I'm really, really struggling with the decision on when to retire and am hoping that there are others out there who have also struggled and may have some words of wisdom on the topic. I am now 66, a state pensioner, and in receipt of a couple of DB pensions, but I am continuing to work in 2 roles (associated with the same…
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Old DC Pension Schemes from previous employers
Hi all I've recently been looking at old DC schemes still with companies from previous employers like Royal London and Standard Life . Some of these go back quite a few years and i thought I'd better look at annual charges. One charges me 0.44% per year, another charges 0.35%. I'm conscious of the compounding effect of…
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