-
SIPP Deposit Accounts OR SIPP Gilts
I have a pension pot (100k-ish atm) that -I believe- I wish to place inside a SIPP wrapper, although stocks, shares and the like are off the table as I don’t wish to depend on the swings of markets. SIPP Deposit Accounts OR SIPP Gilts is my question, together with what offerings and where are currently out there, and what…
-
Accumulation vs distribution
I think I understand the core concepts here that accumulation reinvests dividend to focus on growth and distribution pays dividends to focus on income. But can someone explain how this works out as an example giving say Vanguard life strategy 100 with £500,000 in a SIPP within interactive investor over a 5 to 10 year…
-
Cash or DC pension First?
I’ve a 2:1 mix of DC pension and ISA cash to live off in my retirement. Is there a general rule (or do I need to do a detailed calculation of multiple scenarios) for what to take first? Cash first? DC pension first? A mix throughout (what ratio)? My personal allowance is already used up by my state pension. Any advice…
-
Guaranteed Annuity help needed
Hello I
wondered if anyone had any experience with this Husband has
a small pension with Royal London stated in 1985 paying in £252 a year; total
payments as of last statement are £10143 Breakdown of
policy value is £19687.33 Final bonus £27760.79 Total policy
value £47448.12 The pension
has a guarantee on it, I have the…
-
Company moved goal posts ?
Been notified that company is ceasing using Nest and is going over to Aviva. The DC pot will stay with Nest unless I want to move it they will not automatically transfer it. However they are now basing contributions on Basic salary unlike with Nest when bonuses and overtime were all included. I can obviously pay more but…
-
How long will my DC pot last ?
Hello, One of those days at work when I really really really want to get out of this trade mill.... need a bit of reality slap on my face so came here with a question.... DC work pension. Currently ~£600k, should reach £850k (contributing ~50k via sal sac + hopefully some growth) in 3-4 years when I'm 57 (my prior…
-
Pension withdrawal and tax. Please help clarify.
I wish to take a cash withdrawal from my works pension I have with Willis Towers Watson. I have a couple of queries regarding this I’m struggling to understand. As I understand it I can withdraw 25% tax free, of that I want to be able to withdraw 10% of this in January 2026 as this coincides with me turning 55. I currently…
-
Is it still worth contributing to SIPP?
I am in a quandary, I am 60, looking to retire soon. I have a DB pension starting soon worth about £15k a year and a SIPP of about £800k. I have money in my own business and have a choice as to whether to put that into my SIPP or just leave it there to draw down on in dividends as and when, but it will get no growth. My…
-
De-Risk as approach retirement /and once retired
Hi wonder if could help with some opinions, do posters with DC pots (not final salary) tend to de-rsk their pensions as they approach retirement and/or once retired ? My wife pension is about 75% in a 60:40 split and the remaining 25% is 80:20 split (Bonds:equity). We are hoping she can retire end March 2026 and will be 58…
-
Inheritance and Pension
Hi, Looking for any advice on the following, any guidance would be appreciated. It's likely I will benefit from a inheritance in the near future. Im 55 and for the last 5-7 years I have been contributing as much as affordable via salary sacrifice into my workplace pension (my employer matches up to around 10% iirc,…
-
Protected pension y/n/maybe
I am currently in a state of anger with my pension. With the incoming changes to the pension age I wanted to check if standard life offered me a protected pension age of 55 for my scheme rules. Low and behold they don't even thought it is a pre 2021 pension :( Different schemes seem to have different rules, and it seems…
-
Effect of contracting out of state pension
Hello I am 59. I have 39 years of qualifying NI contributions according to my online record. My State Pension forecast shows a full State Pension at 67. It also says the forecast is based on my contributions to end March 2024. BUT I have finished working (so no more NI contributions by employer) and I have a COPE amount of…
-
Accessing DB Pension and increasing Contributions to DC
Hi everyone, I have a DB pension that has no early penalty at Age 60 on 2/3rds of it. I'll be 60 in a year's time, and if I stay in the DB scheme, I think my annual pension would only increase by about 2k/year ( reduced early penalties on the other third). The pension at 60 would be worth approx 20k or 15k and a 100k lump…
-
Pension Drawdown help needed
Hi, I have recently been medically retired from my job at royal mail. I have savings in the bank so not eligible for any benefits. I have 2 small retirement pots that combined total £60k. Both can be transferred to another provider as neither provide drawdown as an option. What I want to do is take a lump sum of 25% and…
-
USS Ill-health etc
Can anyone help me with working out how USS calculate the amounts for ill-health retirement etc if you earn above the salaray threshold? I have been looking at the information for this and for death in service etc and at various points it says 'The salary threshold doesn’t apply when we work out their pension – it’s based…
-
UPFLS versus Drawdown
Assuming the state pension uses up your personal allowance, and IHT isn't an issue, I can't see any difference between Drawdown and taking the Lum Sum from a UPFLS and investing in an ISA (assuming tbe pension and ISA are invested in the same funds). I've modelled in on taking the same net income over the same number of…
-
Employer now gives back the Employers NI saving for sal sacrifice ..... question on strategy
Looking for some guidance on whether I should adjust my pension contribution strategy in light of a recent change at work. Background: * Employer has just started contributing the full NI saving from salary sacrifice into our pensions (approx. 15% of sacrificed salary). * I’m 45, with £450k in pensions, £25k of which is…
-
NHS pension Tax free lump sum and the LSA
I’m aware the maximum tax free lump sum one can take from pensions is around £268,000. I’m a deferred member of the 1995 NHS scheme and will take a pension and a lump sum at 60,(though plan to continue working). If the lump sum I take is, for example £200,000, does this mean I have approx £68,000 still available to take…
-
DB LGPS and DB NHS Pension Options.
Querying an old LGPS with Cheshire (no longer contributing) and existing DB NHS pension which is current. On behalf of my wife who used to work in a Cheshire health facility but left 12 years ago for the NHS. She is over the 55 year mark just. She now wants to cease work with NHS as she has some private work which she…
-
25% tax free withdrawal at 55, do I still get taxed on remaining amount at retirement age
Hi all, 55 years old and I currently have two pension pots. First pot is my original company stakeholder pension which hasn’t had contributions for a few years. Second pot is current pension scheme from same company as above with monthly contributions. I want to leave my bigger pot untouched but would like to take 25% from…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
704 discussions
6.2K comments
Most recent: Retrospective Class 2 contributions by MarkwithaK
11 September at 5:52PM
