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Teachers pension - phased retirement query
Hello All, I'm a member of the Teachers Pension Scheme which I joined at the start of my career. I turn 55 next April and I am taking phased retirement, sometimes called partial retirement, from 1st May (moving from 1.0fte to 0.6). As part of this phased retirement I will be taking 50% of my Final Salary (NPA60) pension…
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Stocks & Shares and LISA for retirement
I’d really appreciate some advice about my Lifetime ISA. I already own my home, so I opened the LISA purely as part of my retirement planning — but I’m starting to question if it’s still the right choice for me. My goal is to start going part time around age 55, then fully retire by 60. I’d plan to use either my LISA, my…
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Pension advisor prices?
Asked 2 pension adviors how much will it cost me to look at my pensions .I have 3 seperate pensions and i was shocked at the price they they were quoting me .The fact that they arrived both in 60k cars made me feel like i was getting stung .for what i was asking them to do .What would the average price be for this type of…
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Taking my tax free lump sum and converting to a drawdown
Hello, I'm thinking about converting a SIPP I've got to a drawdown pension and taking 25% tax free, in order to pay off a mortgage. But I intend to continue to contribute to another SIPP I have with my current employer. If I've read the rules correctly, I can still do this. Plus, as long as I don't take any taxable income…
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Civil service classic final pensionable earnings rules.
Hi all, where can I find the full rules around calculating final pensionable earnings for the classic scheme? I have read on the forum that when you preserve your pension/leave classic scheme they look at your earning when you leave and step back 91 days a total of 12 times to see which is the highest in cash terms but if…
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Moved: State Pension and self assessment for capital gains tax.
This discussion has been moved.
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Royal London asset allocation - life strategy equivalent or add bonds?
currently 100% in RLP worldwide. 5-6 years out from hopeful retirement, looking at either partial transfer out to a SIPP platform, or adjusting within RL portfolio to a more blended strategy. adding some bonds (80/20 or 70/30 maybe) or using a life strategy type single fund to do that for me. I’m tempted to stay inside RL…
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Taking the last of my Tax Free Lump Sum
I am nearing the maximum TFLS I can take from my pensions, given the current allowance of £268,275. This is based on my own calculations from what I've already taken from various pensions (with different providers), but is it my responsibility to monitor this, or is does HMRC keep track of it too? If so, can I check with…
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Deferred LGPS ill health pension
I’ve been approved for ill health retirement by a previous LG employer. They’ve sent my pension figures which are considerably lower than the yearly pension statement I received in August this year. Their letter states that pension increases haven’t been applied to my figures because I’m not 55 (I’m in my 40’s). However,…
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Withdraw from sipp to fund ISA?
Irrespective of possible budget changes.. I have a decent DB which gets me close to 40% tax bracket and also have a 6 figure sipp in drawdown. My spending means I don’t have spare to continue to fund ISA so have been mulling over gradually withdrawing from sipp at 40% and putting into ISA. I don’t really need the money…
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USS - 2025 valuation of DB?
Hi there. I have a USS pension. I’m no longer an active member and my last contributions were at the end of December 2024. I have a DB and a DC element in the scheme. Normally the DB amount is updated every year and is dated 31st March each year. This tends to happen in September and a statement is also added at this time.…
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Pre-April 5 2025 Voluntary NI pension Topups
Hello everyone and thanks for having me on this site. I wish to share a query with people who registered with the DWP to top up their NI contributions since 2006 before the April 5 2025 deadline. I have just received an extensive email from DWP outlining the contributions I have to make. Fortunately I can make these…
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What happens if you straddle pension age increase?
On 6th April 28 minimum pension age increases to 57. My DOB is Oct 71. If I start accessing a DC pension from Oct 26 (age 55) can I continue? Or on 6th April 28 (age 56) will there be limits on how I can access my pension? What are the guidelines? I'm thinking I would be able to access crystallised funds in a drawdown…
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State pension calculation and HMRC calculator
Hi, This is mostly idle curiosity, but I'm hoping someone here can help me understand the basis for the UK state pension calculation. When I go to the HMRC state pension calculator it tells me "Forecast if you contribute another 2 years before 5 April 2042 £230.25 a week". I'd qualify in 2042 based on current law (I'm 50).…
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MyCSP, Capita and retirement modeller
Hi everyone, my wife and I (59 and 61 respectively) are both civil servants looking to take early retirement next May, but now I’m starting to get worried about they delays being caused by the MyCSP strikes and the proposed transfer to Capita. We’ll have another 5 years to wait before my State Pension kicks in, and we have…
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SIPP - Benefits then work query
I have been putting £2880 into a SIPP while on Benefits (ESA and was partially moved to UC recently, now on a roughly 75/25 split with UC occupying the 25%). I am intending to go back to work and most likely will be on a wage where I don't qualify for UC anymore (nor ESA). Is the allowance additive when you start working…
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How to understand SIPP statement
This is the most 101 question ever and I actually feel embarrassed asking it. When my quarterly SIPP statement gives projections for what the fund could be worth at retirement, would anyone who knows about this stuff be able to tell me will that be for just the fund as it stands at the statement date, excluding future…
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Looking for help with advice for my parents
Hello. I hope I can get some input here on some advice to give my parents. For some background my mother is retiring next year at 65, my dad is 70 next year but plans to continue working for now (he’s on a 0 hour contract job and brings in around £10,000 per year from that). He works as and when he wants, which suits him.…
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Civil Service Pension Savings Statement
I've just received my 2025 pension Savings Statement - I've spent many hoours working out what this should be , at least approximately - I have some in Classic (PCSPS) and some in alpha. The answer I was NOT expecting was that both should show Pension Input Amounts of £0.00 I'm obviously quite happy if they are both right…
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Claiming a pension for a child over 18
My dad died recently whilst still working, he had paid into a LGPS. I have received forms from them needing further details, on the form it explains that in some cases a small pension can be paid to any children over 18 for numerous reasons but for our situation “if a person is incapacitated by ill-health which arose…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: Guide discussion: Voluntary national insurance contributions by JimTheseus
14 November at 10:10AM
