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Advice needed LGPS, AVCs and APCs
Hello Forumites, I have a LGPS pension, and have been paying in since 2001. I set up an AVC with £50 per month and a APC with £50 per month. I am 48, and recently went part time - to 30 hours per week. I am a bit confused to whether I should increase the monthly amounts to the AVC and/or the APC to build up my pension and…
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ReAssure pot(s) - "Wealth Plan" and "Wealth Plan (COPPS component)"
Hi all - Firstly I intend to give "ReAssure" a bell on this but just wanted to gather some feedback so as not too sound too daft or fobbed off when ringing them... Background - I started a pension with ReAssure (I THINK it was General Portfolio originally and then something else before ReAssure) around 35 years ago. I only…
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Good (and short!) explanation of COPE
There are lots of queries about COPE cropping up regularly. This is one of the better, not to mention shorter, explanations I could find which might help: https://www.wypf.org.uk/pensioner/all-about-my-pension/contracted-out-pension-equivalent-cope-amount/
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How many years qualify
If the year on the Government we site says 'Full Year' does that mean that the year is a full qualifying year and counts as one of my 35 years?
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Portfolio Indecision, Much needed Help please
As part of IHT
planning , I opened a small SIPP but now the IHT rule changes has scuppered
that as it could incur a 60% tax to the beneficiaries. This SIPP is surplus to requirements.
I suppose, at some point I should be gradually drawing down to give away (maybe
in 6yrs). Meanwhile, the
SIPP has 30% in cash (2% interest)…
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Final salary v CARE pension
I have 2
small pensions with the LPFA and have been asked whether I want to combine the older
final salary pension with the more recent CARE pension. I am coming up for retirement in April 2025. I have
responded to the LPFA as follows: Please send me the valuation of what my full pension would look like if: 1. I
keep the 2…
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Teacher's Pension - working beyond 60
Hello. I am a teacher and about to turn 60! I have some years in the final salary scheme and also in the career average scheme. I am still working full-time, but have not been in a TPS school since 2014. Recently, I secured a post in a TPS school for September, which is full-time. Will I be able to contribute either to the…
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Moving SIPP provider now
Guidance Please! prior to the recent “tariff troubles” I was about to switch from Aberdeen Standard Life to a new provider to achieve better results at lower cost. in view of the fact that my pot has just dropped by £15,000 would now be a good or a bad time to switch provider?? your thoughts please thanks
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So confused about what records I need to keep now I am accessing DB and DC pensions
I have been receiving a couple of DB pensions for the last few years. Just recently, I, for the first time, took out money from one of my DC pension schemes. I am so confused about what records I have to keep. I'm told I need to take a note of each crystallisation event, but what numbers am I looking for? The various…
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Annuity like investments from pension
If you wanted to replicate an annuity using a portion of your SIPP funds, to lock in a fixed rate for life when rates are high, but you were under 55, what's the closest way you could you do it without falling foul of the rules of using SIPP funds as leverage under age 55?
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Post 'liberation day' SIPP decisions
The US taking decisions unbecoming of a world reserve currency creating doubt and distrust, macro uncertainties, tariff on / tariff off , US China / trade war etc etc. What SIPP choices to make ? Bitcoin (via MSTR) and gold as safe havens ?! Stick with global trackers? Abandon US tech? Or just keep calm and carry on ....?!
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Civil Service pension surviving partner pension start date?
I am 7 years older than my wife, I have retired early and currently 58 years old. Planning ahead, if I were to die at say 62 in four years time (hopefully not but I do feel peaky) when would she start getting money from my pension? Would it be straightaway or does she have to wait until her normal pension age of 68 before…
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Classic Pension Deferred Lumps Sum interest rate??
Hi, would appreciate some help from anyone who has access to the scheme rules. So I am 62. Just drawing my pension. My pension has been I think correctly calculated by adding to my original pension the appropriate multiplier for CPi inflation.. The lump sum which was calculated when I was 60, does not accrue the multiplier…
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Deferred pension classic civil service told no inflation applies for 11 years!
I was very kindly given 100 percent of my ex husbands pension, by him. it was calculated as a pension credit or 13k p an and and 40k lump sum in 2014. I was told twice in writing and once verbally that it attracts inflation pension increase u till I claim it. I asked for a few pension statments over the years and it showed…
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NHS Pension - 1995 Section - delaying retirement
Normal retirement age for the 1995 Section of NHS Pension Scheme is 60, however, if somebody wanted to continue working beyond 60 and delay taking their pension, would this increase the final value of the pension taken if retiring at, say, 65? Looking at the NHS Pension Agency website there is nothing to indicate what…
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Financial advisor’s error has been costly for us - can we complain?
In 2022 We needed to employ a financial advisor when my husband retired and moved his private pension out - we really don’t know a lot about tax and allowances so felt he would be the right person to keep us informed and on track whilst taking a monthly income from the private pension, last year we also asked him if we…
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Earlier than planned retirement at 54.
Over the last 12 months in particular I've been struggling with my current job of 18 years, which is both stressful and physically demanding. Last week I finally hit burnout and for my own sanity and health, handed in my resignation. I may look for part time work but for now I'm trying to get my head around the finances…
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Should I merge?
HI, After a little help please. I’m currently 54, already retired, and next year will take money from my pensions to bridge the gap to 60 when a final salary kicks in. I have 3 pensions, combined worth just under £50k, and am considering merging them to make it easier to drawdown approx 6k a year. They’re currently with…
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Lump sum into workplace pension.
Hi Forumites. Will shortly be inheriting a sum of circa £50k. Don't need it for immediate purposes (mortgage free, no large debts etc...) however my pension situation is pretty poor so thought this best route ? Current salary is circa £24k - Age 60. Have a workplace L&G placed pension that's been going about 8 yrs (NRD is…
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Bridging to DB pensions.
I've asked questions about bridging before :- https://forums.moneysavingexpert.com/discussion/6489313/choices-choices#latest However I have been working on blended options, does this one make sense? I'm 59 now and will be 60 in December. I put my postcode and health conditions (cancer although I have been discharged and a…
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Most recent: Conflicting State Pension Forecasts by molerat
10 August at 4:04PM
