-
How much to pay in for £60K max contribution this year
I want to make the max contribution for this year of £60K into my SIPP. Does that mean I pay in £48K and my SIPP provider adds the £20% tax contribution of £12K (20% of £60K). I can then claim back any addittional tax relief later. Have I understood this correctly? Thanks in advance
-
NHS Car Lease through Salary Sacrifice impact on Pension
Hi all I'm hoping you can help this numeric illiterate when it comes to understanding the impact of the above scheme on my overall pension position I am a higher rate taxpayer on the 2015 career average scheme, contributing 12.5% in pension with 20-25 yrs left until retirement and am looking into an electric car lease for…
-
Divorce - Defined Benefit Pension active & deferred member
Hi, My ex and I are likely to divorce in the foreseeable. The only significant assets we have between us are my Defined Benefit Pensions (I'm a deferred member in one, and an active member in the other). Does anyone know what the general rules are around Pension Sharing Orders? Is it generally 50/50 split no matter how…
-
Deferred Company Pension
Just noticed that my annual calculation hasn’t increased. apparently, I could have taken at 60. spoke to pension company and they say I can’t back date to age 60. Zurich insurance is the Company and I’ve just checked that they do have back dated rules for deferred Pension……..not sure where to go from here…….!
-
Getting State Pension weekly
Hi, is it still the case that you have to claim by phone if you want to receive your SP weekly? I have my invitation letter but it doesn't look as if the online application asks anything about payment intervals, so a cancelled out of it while I could. By the way because I'm sure it will be raised, I am completely sure that…
-
Various tiny pensions, no idea where
I have been a contractor for many years now doing various different jobs and being enrolled into pensions along the way. I have no idea how much is in them or where they are. I would like to find out where they all are, what's in them and to combine them in one place. Where should I start from the very beginning?
-
PILON & Pensions
Hi I've been made redundant and I'm asking my employer to pay my normal % contribution into my pension from my PILON. I'm not asking them to pay there contribution just mine from my last salary is this something they should do for me?
-
Help please with understanding the Lump Sum Allowance
Hello everyone. Years ago I took a quarter of my pension tax free. Let’s say that was £10K for the purposes of my question. I now have put the remaining 75% into drawdown so I can take a regular income. That will all be subject to tax as I have already had my 25% tax free. That’s understood. My question relates to the…
-
Real Rate of Return Required for SWR
I have too much of my pot in cash. I understand how I got to
that position, but with a 5% risk free return on offer I have been slow to get
money into the stock market. Now rates are falling, but so is inflation. I can
still generate a positive real return with no risk. This leads me to a
question: For a 60/40 portfolio…
-
SPPA and McCloud
Do nhs Scotland workers know when we get our remedy letters? I thought we'd get them in October 2024 but the website seems to say only people about to retire will get them this October. The website also says members need to make a decision by March 2025, so expect we'll get them before then, just not necessarily this…
-
Taking pension early?
Hi everyone, I have a university pension which I no longer pay into since leaving in 2018. A friend told me that the factors were dropping on 1st October 2024 so that scheme members would get several % less after this time. I asked for a statement for taking my deferred benefits before these changes happen. Basically I was…
-
Getting State Retirement Pension paid weekly
DWP try to keep it a secret, but you can ask for your State Pension to be paid weekly. Paul Lewis writes about this at https://www.radiotimesmoney.com/retirement/pension-advice/state-pensions-can-be-paid-every-seven-days-says-paul-lewis/ and advises that you can write “Please pay my pension weekly” in the “other…
-
Relevant Benefit Crystallisation Event question
In August this year my deferred armed forces pension (AFPS75) came into payment when I turned 60 years old. I also received a Terminal Gratuity of 3x the annual pension - this was tax free. Could anyone help out with a couple of questions I have. 1) I am surmising that the Terminal Gratuity payment is a Relevant Benefit…
-
Pension to lump sum conversion rates?
Hi i am thinking of taking my DB next year and the conversion rate from pension to lump is around 21 Am I correct in thinking that if the pension money I am giving up is taxed at 20% then the actual conversion rate is 25? (21 x 1.2) If the above is correct then it would take 25 years to get my money back if I didn’t take…
-
Is this correct?
so a friend of mine aged 63 who hasn't worked for several years receives a pension payment of about £130 per month and has another Pension totalling £4k which she wants to cash in. I THINK because her total income for the year would be way below £12750, she can do this without paying any Tax - is this right?
-
Salary sacrifice .. Employer payment......
My ex workplace pension account shows all my pension conntributions as being employer contributions. Does this mean they are not counted for tax relief purposes?
-
Pensioner Taxation
Prior to taking my State Pension, I fully understood the tax rules which are currently: Personal Allowance £12,570 20% tax above £12,570 up to £50,270 40% tax above........................£50,270 up to £125,140 All very straight forward if you have no major complications. After taking the State Pension, things start to…
-
ReAssure Problems
I'm now 3½ months into asking to cash in my pension pot, two complaints, 14 attempts at contacting them, including two phone calls - the second of which they were more concerned about me dropping my complaint than dealing with the issue and I'm still literally at the same stage I was at the beginning of January 2022. I'm…
-
Pensions, income and tax return
Hello all, Please could I have the benefit of your advice to settle an argument? A close friend is now retired. She has income from an occupational pension payment per month (around £500), full state pension and (joint) income from a rented property on which she pays a mortgage. I think she should provide a tax return; she…
-
Armed Forces contribution to State Pension
Hi, Just joined the forum, so apologies if this needs to be somewhere else. Ex Military (RN), served 41 years, now aged 66 and just started state pension. I was on AFPS 75 throughout my Military service. I heard rumblings on social media for the last 2 years about getting a reduced rate, due to a lack of NI contributions…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
397 discussions
4.1K comments
Most recent: Self Employed - not sure if need to pay voluntary class 2 by QrizB
Today at 3:41PM
