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Home Responsibility Protection
My wife is 76 so receiving the lower state pension. Reading Martins advice regarding HRP we went online to see her National Insurance record to find that years 1975 to 1990 show as “year is not full.” Our son was born in March 1975 but our records regarding Child Benefit have been mislaid probably during house moves. We…
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Surprise deferred pension input amount
Hi All I've been paying additional voluntary contributions into a company DC scheme close to the annual allowance for the last 6 years. All was good until recently when I was informed by a deferred DB pension scheme, that due to an increase in my benefits they had applied a pension input amount of over £95K for financial…
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NHS Pension - Reducing Days
I am hoping that someone can give me a sanity check. My wife has been working full time in the NHS since 2007, and recently got her TRS Statement which I understand based on the two scenarios. She is going to retire fully in 3 years at 60. From now on she is reducing her days to 3 days working. Am I correct that her 1995…
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Separating and splitting assets, remortgaging, pensions
Hello All New to all of this and hoping for some general pointers. My partner and I are separating (filed for DIY divorce 3 weeks ago). We are amicable and want to sort things out as simply as possible. We own our house worth 300k. We have no children and have both worked in similarly paid jobs. However their pension is a…
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Early retirement from a DB is a bad deal?
I am struggling a bit to understand the consequences of early retirement from a DB pension with NRD 60. Previously I'd gone along with the consensus that you need to live to mid 80s before early retirement starts to lose out. But if you factor in increases in deferment, I am struggling to see how you get past mid 70s.…
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Is this recycling within rules?
63 y.o.male. Currently in receipt of £25k DB pension. Also have £200k flexible drawdown DC pension Still working self-employed earning about £12.5k p.a. In recent years have always contributed at least £10k p.a. to pension pot. Was thinking of contributing a single payment of £8k to DC pension every February and then…
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Missing NI Contributions for Pension Qualifying Years
Following Martin's advice we checked my husband’s qualifying
years and he is short on 3 years that we can pay to make up and registered for
a call back before the deadline (Apr 2025). The call back was due to my
husband having limited capacity for work due to ill health. He was able to
claim contribution-based ESA which…
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LGPS AVCs vs S&S LISA
Aside from the difference in earliest age they can be accessed (55/57 versus 60) and contribution limits per annum, is there a material benefit to contributing a regular monthly amount into one of these versus the other? LISA contributions are made from post tax salary, with 25% uplift, and available at 60 for retirement…
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Monthly money from pension lump sum
Hiya all....I'm thinking of starting a partial encashment of my pension pot.... 15k withdrawal gets me roughly 12.7 k after tax free portion and the 20% tax on remainder...I get this as a lump sum. My question is what's the best way to transfer 1k per month into my bank account on a regular basis until money runs…
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Inheritance Tax and deceased spouse transfer
my widowed mum recently died leaving an estate of 335k. My dad died back in June 1985 and didn’t use any IHT allowance or capital tax allowance as it was then known. The rate for that year was 67k. Can I transfer the 67k to my late mums 325k so we don’t have to pay any IHT? There doesn’t seem to be a form to do this for…
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Are SIPP's covered for more than 85K?
I am below that amount but am thinking ahead. I am with ii and did Google it and it would appear that if ii fails I would still have all my investments. "Interactive Investor Services Limited is an investment firm and not a bank. Unlike a bank, your assets are never mixed with those of ii – they are kept in legally…
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Pension contributions
My understanding is that you can contribute £2880 into a pension yearly if you have no salary. My salary is approx £2000 per year. Does this mean I am restricted to paying in £2000 a year, or could I pay in £2880
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Missing teachers pension scheme service
I have only just noticed that a teaching fixed term post I did in 2012 is missing from my teachers pension statement. They have advised me to contact the school to try and resolve this but with the head now retired and lots of staff changes I’m sure I will get much help. I know that I haven’t kept payslips or bank…
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Retirement strategy, for comments
A thread I started yesterday about messing with my gilts received
the appropriate ‘how does it fit with your strategy?’ reply, which promoted me
to sketch this retirement plan. I have not used any template, just a blank
sheet of paper, so I am happy for the structure as well as the content being
critiqued as strongly as…
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Care home - how do we best look after my dad please?
Hi, we're after some advice on what to do here please. So very confused. My 79yo dad has severe dementia and after a fall a month ago has significantly reduced coordination in his left hand and left foot. He's been in hospital since and is moving to a retirement home on Monday. It's for at least 6 weeks while we see how…
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New starter to Civil service pension
Having just spent a few years in the Local Government pension scheme and tackling making AVC’s I’m about to move to a civil service post and could do with some help around what my options are within the scheme as I’ve not been able to find much information. Thanks for any help.
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Pension contributions in retirement
Hi, I took early retirement 15 months ago, using a Prudential flexi access drawdown scheme. I withdraw taxable income upto my tax threshold so I dont pay tax, and top this up with tax free income to give me enough to live on. I think this has triggered the MPAA, limiting the amount I can contibute back into my pension. I…
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Nest or Now?
Hello! I would like to continue with my pension as a self employed but got two different pensions already created from my previous jobs: Nest & Now. Would like to unify them and just keep one. Any advice of which one is better or the best way to do this? Thanks in adavance.
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Have we reached peak annuity rates?
Now that the higher interest rate medicine appears to be working and gilt yields are slightly down, does it look as though annuity rates have peaked for now? OH had a surprisingly good annuity estimate from Legal and General via moneyhelper, but when he went to the L&G website he got a slightly lower estimate using the…
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Merged: Inherited Drawdown Pension
This discussion has been merged.
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
735 discussions
6.4K comments
Most recent: State Pension Forecast and Buying Years by DRS1
20 February at 8:13PM
