-
Recommended reading on increasing pension payments?
I'm still trying to figure out the advantages of overpaying into my nhs pension or private pension. Is there anything to read on the subject,like pensions for dummies as its about as clear as mud 🤔
-
Switching USS funds
I have a USS pension and would like to switch one of my Investment Builder funds into the Liquidity fund (at some good moment in the stock markets) in the next 12 months (there doesn't seem to be an option for switching into cash). I couldn't find any information about when/how funds are switched. For example if I carry…
-
AVC funds Cash or Equities?
Hi all, I have money invested in AVCs. I was in the Pru S3 equities fund and transferred it all to the cash fund a few weeks ago. The rate I got was 4.06. The fund yesterday dropped to 3.74. I am tempted to transfer back to equities and hope that the rate increases. My dilemma is I only have 1 year (redundancy) or max 2…
-
Pension contributions after taking lump sums
Assistance please. Have 3 pensions. Taken 25% from two older ones, and have a current one I still pay into. Now approaching the end of my mortgage :-) Looking to plough what I was paying on my mortgage into my pension (salary sacrifice), however am I restricted to £10,000.00 a year. Cheers
-
Draw Down Calculations...
Can someone check my logic? Assuming that I already have some income that takes up my Tax Allowance. If I take £5k ( 25% is tax free - £1250, the balance then is subject to 20% tax, so the £3750 gets reduced to £3000 ), then I actually get £4250 - and if I split this over 12 months that is £354.16. So the multiplying…
-
Trivial commutation (TC)
Good morning. I have a question about TC which I hope is a simple yes or no answer. My wife currently has a pension which pays £672pm. She also has another pension that we are looking at taking. One of the options is to TC this pension but I dont think we can because of her current pension - which I think takes her over…
-
State Pension Age Acceleration - Worst Case Scenario
Hi, at present the state pension age moves to 67 from 2028, but no further increases have been announced until 2040. I can see the move to 68 and beyond being brought forward, and wondered what the worst case might look like? Could it be increased to 68 in 2029, 69 in 2030 and 70 in 2031 for example?
-
Pension Carry forward question .
A bit of advice please I am self employed and last year was the first time I had contributed to a SIPP pension after years of just using an isa . I only put in £500 last year when I opened the account as I was wating for the last week of March to get the exact amount I had earnt during the year but forgot to do the…
-
Where did the unexpected pension money come from?
Hello. I’ve been reading old paperwork for my pension pot with ReAssure, formerly Legal and General. When business was transferred from L&G to Reassure in 2020, my pot increased from £14k to £27k in the space of three months and during the pandemic! Why did this happen? Obviously a nice discovery. I haven’t paid in any…
-
NI Credits 'Up for grabs' - Grandparents' childcare
Hi all, I've read through the below MSE article on transferring NI credits (I can't post link), I've done lots of research but can't find an answer to my question below on how to know if there are credits 'up for grabs'? The above article states about the person who could transfer a credit that: If that parent then starts…
-
Do pension contributions define what I get from an NHS pension?
I am in the NHS Scotland pension scheme. I have 2 jobs in different NHS health boards, one is taking contributions of 5.6% from me and the other is taking 7%. My understanding is that if this were all one job I would be contributing 11.2% to my pension. I was worried that I am not paying in enough and had a confusing…
-
Lifesight select to invest cash only?
I am taking pension and in short term income fund, but with the stock market going nuts, I am thinking of doing a free choice investment and investing 90% in the cash part and 10% in bonds, the thinking is that cash is the least volatile. Can anyone tell me how to find out what the return has historically been for…
-
Aviva pension query
We recently (last week) opened 2 Aviva sipp type pensions (to cut a long story short - I'm a non earner so put in £2,880 for the tax relief, wife put £6k in to avoid higher rate tax and losing child benefit). New to all this but I believe it's a good idea. So now have we lost all our money?? It appears not - wife is in…
-
IWeb split from A J Bell, what to do?
I had a message this morning from my SIPP provider, IWEB, saying they will no longer be partnering with A J Bell for their SIPP administration and that I have the choice of staying with them (and having it managed by Embark Investment Services) or moving to A J Bell or another provider. I've never heard of Embark, and I'd…
-
Claim for tax relief on private pension payments revelation
As a higher rate tax payer I have been sending letters to HMRC to claim the addtional TR for a good few years now. I did this to avoid having to fill out a tax return. However, I recently watched a youtube video from the excellent Tony Newbatt who talked about the relatively new HMRC portal to claim for the additional…
-
Self Assessment - Married Allowance Transfer
I suspect this is totally the wrong forum on which to post this question, but not sure where is better - and I know there is huge knowledge on here so here goes. I have just entered mu 2024/2025 details into the HMRC Self Assessment site and looked at the calculation and can't see where the 10% of my wife's income tax…
-
The Peoples Pension - Workplace Pension
I am having trouble accessing my pension money (now 66 Yrs) as the take your money button is not showing. The total is less then £5000 so I have to take the lot in one go but can't get access. Just wondering if anybody else had this problem and how it was resolved. Thanks.
-
How long to "crystallize"?
So I signed the paperwork to move a pension into drawdown, to get the lump sum only, not taking any income. Was sent to transact Thurs morning. Nothings changed when I login, but there is some cash, just over 25%> Question is at what point do I get the 25%> Thurs value, Fridays,today's? How long does it usually take?
-
Details of any adult financial dependant (on pension form)
Hi - I'm almost 58 and have worked for a high street bank since I was 18; so approaching 40 year contributions, which I think is the maximum. I'm able to take my full pension at 60 put will probably work on a few years, as my eldest son is in Uni and want to help support him. Maybe partial retirement or similar. My query…
-
Pension Fund Choices - Waverton and Quilter
After my unfortunate dealings with SJP I am looking at moving the fund elesewhere. Two that I have been given are Waverton and Quilter Wealth Select 7. They look good on the face of it, but the Quilter fund seems to have a heck of a lot of funds under the one umbrella. Is this good? Once bitten, twice shy! Would either of…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
699 discussions
6.1K comments
Most recent: Conflicting State Pension Forecasts by molerat
10 August at 4:04PM
