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Address for the DWP Complaints Department
Can anyone please help providing an address to send a letter of complaint to the DWP Complaints Department? I have sent three letters to the Future Pensions address but I have had no response, nothing. I then sent a letter of complaint about this lack of response to the DWP Caxton House address. No response from there…
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Relevant earnings for pension tax relief - pension income?
I have been contributing to a stakeholder pension as a non-tax payer, so max £2880 per annum. I am now in receipt of an annual pension of £18k, can I increase my stakeholder contributions accordingly? Thanks!
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State Pension entitlement versus actual payments for tax
I’d be glad of some help to understand State Pension payments - the significance of ‘entitlement’ compared to actual payments to my bank account in a tax year; and which amount should be included in a tax return. I have read the notes at HMRC which say I am taxed on the entitled amount rather than, in my case a lower,…
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Defined benefit pension.
I can see similar posts but wanted to get people’s views on our current situation. My husband is eligible to take his DB pension this month. We have obtained a Transfer value and it 128,000. The quote from the scheme is 20,000 lump and 380 a month for life. I am 12 years younger than my husband and way off retirement. My…
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Retirement Timing: May vs. March
I understand that retiring in March is beneficial for fresh personal, CGT, and other allowances after the new tax year starts. However, my March bonus won't be paid if I'm under notice. If I give notice after the March payment, with two months' notice, I would retire in late May. As a higher rate taxpayer, I'm considering…
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FIRE Girls Pension Diary - Aim High & Dream Big
10 year targets are set and I'm aiming high and dreaming big. :) A bit of background. When I was young I grew up with a family of 4 children, Dad worked and Mum stayed at home. We had very little material things or new clothes and I remember I was always dreaming of how I could possibly become a millionaire. So why not…
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NHS Pension 2015. Using redundancy payment to buy out pension reduction.
I am currently considering whether to make an Expression of
Interest for a Voluntary Redundancy Scheme. I’m 61 and am (mainly) in the 2015 NHS pension scheme (I joined the NHS in
2014) I’ve heard that if ultimately I applied for redundancy and
was accepted, that it may be possible to use my redundancy payment to help…
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Lump Sum Pension
I have just received a lump sum state pension with 20% tax deducted on the whole amount. I thought with a lump sum a percentage was tax free. Any ideas? Thank you
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Junior SIPP Management Charges
I have opened a Junior SIPP with AJ Bell and funded it to the maximum for the current tax year (£2880/£3600). As far as I understand the provider does not automatically sell investment units to fund the management charges, so I am keeping a small cash balance to cover this. My question is whether I can pay in additional…
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State Pension Changing 1st August 2025
I am seeing some online commentary recently about a change to the State Pension effective 1st August. Something about a flat rate £549 for anyone over 60 (obviously who fit the criteria, NI contributions, residency etc) instead of having to wait to 66 or 67.... Please tell me that this is legitimate and applicable to…
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Cashing in pension
I want to cash in my whole pension( dont worry i have sufficient other pensions to fund me later on). My fund is £118k, i understand that i will have to pay the highest tax band , as my wages are currently 332k per year. How does the tax work out, so i pay tax 75%on the pension, and higher tax on my wages
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Advice for investing newbie: ETF not tracking index accurately
Hi all, I'm a newbie to investing, and have started out with a few ETFs. It seems on some days there is a large discrepancy between how the value of the ETF I'm holding changes, and the index it supposedly tracks changes, and I'd be grateful if somebody can explain why. For example: I hold "iShares NASDAQ 100 (Acc)",…
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Calculating Correct Net Contribution
I'm about to get 35k TFLS from my DB pension having retired at end of May. Mrs is still working until end of September, she'll have gross income in this year of about 25k (but of course they'll have been taxing her as though she was going to earn 50k). Her existing work pension contribution is only about 2.5k to end of Sep…
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Gmp Equalisation
Hi i don't know if anyone can help, i'm still 10 years away from retiring but i've just received a letter from aptia saying they owe me some money for gmp equalisation and to fill in my details and they will deposit the money into my bank account. By accepting this money even though i'm not retired do i leave myself open…
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Budgens Pension Scheme
Hi all My wife worked for Budgens for 5 years early 2000's and was a member of what i believe was their DB scheme, the reason i say believe is that as I'm going through all of our finances in prep for semi retirement (me) in 2/3 years i realized we have no paperwork for this pension at all. so i had my OH mail the pension…
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Excess AVC contribution query
Hi all Have a deferred company pension due November 2025. Benefits statement shows me the monthly income from deferred final salary pension. Plus there is a max cash sum of just over 22K -:which comes from AVC fund. BUT I also have excess AVC of 790.57 " This will need to be used to secure an annuity of the open market.…
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Choosing an IFA
Following on my from my previous threads I am considering investing myself based on information received frompeople on here, but I am also considering IFA. Looking around I am finding that the initial charge of 2% seems normal with on-going advice around 0.75~0.8%. I have paid 1% previously but had that reduced to 0.5% as…
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Retired in NHS pension and needing 1mire year for full state pension
Hi everyone, I know, to count as a full year towards the state pension I'd need to earn something like £3500. While I am very happily retired and have no intention to work again, I have a tiny little job, earning me maybe £300 a year. So, my question is, whether my £12k NHS pension could count as an contributing income…
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Combining multiple pensions?
I have job hopped throughout my career and accumulated approximately seven different private company pension pots. I hit 62 years in June and am now working part time and looking to, potentally, start drawing down my pensions. Is it worth combining these pots and buying a single Annuity (don't really need a tax free lump…
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What order are incomes used for tax code allocation?
I'm thinking of taking a DB pension but also working part time, which still would be eligible for DB pension contributions. The contributions are by salary sacrifice. My thinking is that to maximise the salsac contributions I can make, I'd want my pension income to be taxed first, so it has the "normal" tax code, so I get…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
721 discussions
6.3K comments
Most recent: Guide discussion: Voluntary national insurance contributions by JimTheseus
12 November at 3:09PM
