We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Pensions, annuities & retirement planning

For help with everything to do with pensions and retirement.

Salary Sacrifice - what would be the maximum
I understand the Annual Allowance of £60K. I get that includes personal and employer contributions are included when calculating how much you have saved into a pension. What I am not fully clear on is salary sacrifice contributions impacts. Are they consider employer contributions so not impacted in count towards AA or if…
specified adult childcare credits part year
Hi, We have regularly looked after our daughters children over the last few years and my wife is short of NI contribution years. She has successfully claimed for two of these years where our daughter had full contributions from childcare credit and self employment. She has other years where her self employment covers part…
Unable to contact HMRC post retirement via phone
I need to contact HMRC via phone as I retired in 2024, this now seems impossible! I have a gateway ID yet cannot get past 2 forms of ID! I do not have a passport nor a driving licence. Does anyone know the number for me as I'm already retired & need to make top up payments but have no idea how to & seems everything is…
NHS Pension Gross Misconduct
What happens to your NHS Pension if you are sacked for Gross Misconduct? Do you lose it or do you only lose it if you are sacked for Gross Misconduct that is related to a criminal offence? I’m sorry to ask but I am just a bit concerned. Thanks.
Personal allowance adjustment
Last year I started to get my State Pension at the start of the year. When the new tax year started 24/25 they adjusted my personal allowance to allow for the state pension. But they also said I had underpaid the previous year by £200. So would reduce my personal allowance further to recover this. I have just had…
Indecisive and overly cautious?
So, I’m 56 (and a half!) I was planning to go to 57 for no particular reason other than 56 seems mad, I may jump earlier. My numbers are as below… £92k ISA £127k SIPP £40k DB at 60 (RPI linked, 5% max) £140k AVC (linked to DB so potentially take that all as a PCLS depending on how much tax free I take from the SIPP, I’ll…
How are you mitigating for IHT
Not sure where to put this - but Pension Forum is seen as being 'wealthy'. If I die today my executors will need to pay IHT. Some facts about me: 1. Early 70's 2. Widow 3. Income DB (mine and my deceased husband) and SP (deferred pre 2016 for several years) so at least 22K pa with dead husband uplift to SP as he born early…
Consolidate small pension pots?
Hi everyone, I'm in the civil service and currently pay into the alpha defined benefit scheme. I have also set up Additional Voluntary Contributions (£400 per month) into a Legal and General defined contribution scheme. I am 32, so still have 30+ years before retirement. I have a couple of small pension pots from previous…
Early retirement plans on alpha civil service pension
Hi everyone, I am 32 and it's worried me that I don't really understand pensions and how to prepare for retirement, so I am taking control and hoping to get some advice from wiser MSEs. Thanks in advance! :smile: I pay into the Civil Service alpha scheme on a salary of £58,989. A calculator online suggested that, based on…
NHS Pension Advice
I am 43 with chronic and complex health conditions. I have built up 22 years of NHS pension membership, firstly on the 1995 scheme and later mandatory having been moved to the 2015 scheme. I’m not likely to be here at retirement age and so i would like to draw my pension now on ill health and enjoy the money whilst i still…
LGPS Prudential AVC Funds
Hi all, Finding this site and the help/guidance/tips I have received has made it easier for me to navigate through the Pensions Minefield! I have just over 2 years till I take retirement at 60, this could be just over 1 year as there is talk of redundancies in March 26. I have SSAVC's which has been invested in…
AJ bell drawdown
I am about to move my pension into drawdown and just noticed my current provider only offers 4 portfolios for drawdown accounts and none of these are really what I’m looking for. so I’m looking to move over to AJ Bell as they seem to offer their full list of portfolio for drawdown accounts use. Has anyone got any…
Moving to SIPP with AJ Bell
I am currently moving into drawdown with AJ Bell. The problem is there are lots of guides about SIPPs, drawdown strategies etc but not a guide to ‘going into drawdown and managing a SIPP in drawdown’. The fact for most individuals who will be managing their own SIPP and will at some point have similar questions this should…
Facing the future alone - care and managing money
Good afternoon, I am hoping to seek advice please with a future predicament I will find myself in. I am an only child in my late 30s. I have a partner, but no children of my own or other relatives. I am worrying so much about how I will cope in old age. I have nobody to help me, to take power of attorney or any of the…
47 yrs =?
Yesterday I looked at my pension forecast as I will be able to "claim" my state pension from Nov this year. I know one of my employers was opted out for a number of years but the ukgov site shows that my contributions are for 47 years means my state pension would currently be £220.22 a week based upon the website national…
Income tax not be taken from pension
Hello apologies but pensions etc. are all new to me. I just reduced my hours at work and have started receiving a small DB pension from a previous employer to help make up for the loss of income from my reduced hours. My understanding is that this pension should be taxed at Basic Rate (as my current salary will be taking…
Quick question on PAYE salary and pension contributions:
Until very very recently my missus and I have been getting only a few hundreds pounds in PAYE salary, and so have only made £2,880 payments into a pension pot (to then be grossed up by HMRC to £3,600). This year (starting a week ago, and completed before 5th April) I will get £12,575 in PAYE wages. My question is: Do I…
Lost Pension Policy used to back a mortgage paid off years ago
I'd be grateful of help/direction. I'm trying to find a Pension Policy which backed a mortgage back in the 1980's for my friend who ran his own retail (market trading business for 44 years). The nature of his work meant he's moved home quite regularly. Consequently, he's lost sight of a pension policy (premiums £160+…
Should I contribute more to my SIPP?
I'm in a fortunate position. I earn c£60 gross, and can expect c£20k in savings interest this year. I have a SIPP of £35k (so far) and will have a significant DB pension too. I would rather avoid paying c£8k of tax on savings interest, as well as potentially staying below the 40% tax threshold. Everything I can get into…
Can IHT on pension pot be avoided if I nominate my son as primary beneficiary in Expressions of Wish
If I predecease my husband there will be no IHT on the estate until he dies,If I nominate my son as sole primary beneficiary of my substantial pension, what is his tax position ? I assume he would pay income tax , when he draws it, but is it subject to IHT ? As there is no IHT applicable on the1st death of a married couple

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Bank of England cuts base rate to 4.25% – here's what it means for your mortgage and savings
The base rate has been cut to 4.25% from 4.5% by the Bank of England. This rate is used by the central bank to charge other banks and lenders when they borrow money, so the move can impact mortgage and savings rates.
Is now a good time to fix your mortgage or should you wait? Brokers answer as rates continue to fall ahead of expected Base Rate cut
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further – and should you fix now or wait?
Fixed-rate mortgages continue to fall ahead of expected Base Rate cut – so do brokers think now is a good time to fix?
Interest rates on fixed mortgage deals have continued to be cut ahead of this week's decision by the Bank of England on whether to change the Base Rate. But will fixed rates move much further?
Martin Lewis: How to call your bank by dialling just three numbers
How to call your bank by dialling just three numbers… simply dial 1-5-9. Then you know it's legit. Watch MoneySavingExpert.com founder Martin Lewis' video below, which explains it. And please share – the more people know, the fewer will be scammed.
Martin Lewis: How to call your bank by dialling just three numbers – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Martin Lewis: How to call your bank with just three digits – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Revealed: Holland & Barrett's supposedly cheaper 'Subscribe & Save' often costs more – it's promised a review after our investigation
Holland & Barrett's 'Subscribe & Save' scheme claims to offer regular shoppers "the best value" – but it failed to do so in the majority of cases MoneySavingExpert.com checked over a five month period. The retailer has now promised to review the scheme after our research found it was often more expensive.
Don't get your passport by post – 360,000 paid more than needed last year
If your passport is due for renewal, apply online if you can – it'll save you £12.50. More than 7 million Brits did just that last year – but over 360,000 missed out on savings by using a paper form instead, MoneySavingExpert.com can reveal.
Sainsbury’s Bank customer? NatWest takes over this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.

View All

Pensions, annuities & retirement planning

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free

Pensions, annuities & retirement planning

Category List

Discussion List

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free