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Santander private pension
I bank with Santander and have become more familiar with their stocks and shares ISA so was thinking of setting up their private pension also. However, I can't access their pension for 10 years once I start investing. I have a large amount of cash sitting doing nothing so want to invest it - I'm late to this (could not…
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'Final pensionable pay' used to calculate early and deferred Premium pension (Civil Service)
Hi, I'm about to take a voluntary exit package and had
intended to take my Premium pension early and use the bulk of the compensation
payment to buy-out the actuarial reduction. However, yesterday I got a drastically
revised pension estimate that’s much lower. They seem to be saying that they’d
belated spotted that because…
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Enhanced Protection Lump Sum
I have an HMRC enhanced protection certificate valid from 6 April 2006. So far I have not drawn anything at all but am know considering taking the lump sum entitlement.. With the enhanced protection is the lump sum protected or restricted to the current standard Lump Sum Allowance cap of £268,275. The pot is approx…
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LGPS McLoud remedy
Hi, I received my annual statement from LGPS and it says my pension is protected by the underpin under the McLeod remedy and it was not possible for us to reflect your protection in this year statement. However we will include any relevant underpin figures in future years statements. i’ll be 55 soon and might start to draw…
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Investimg retirement money in solar and battery install
This is a bit of a weird question and maybe should be on energy board (?), but I was wondering, if I decide to use some of my retirement money to invest in solar and battery for the house, is it valid to see this as an investment just like a fund or ETF? For example if I figured out that a £10K system, would save me about…
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Pension/SIPP/LISA help for the clueless
Hi all, recently lucky to have gotten a small pay rise that takes me into the higher tax band. I am 40, have a DB Alpha pension so far and expect to stay in this job for a while, have been in the UK/paying NI for 11 years, have SIPP and LISA accounts that I have been paying sporadically into. I read that I can now get more…
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Going self employed- questions?
Hello I am after some thoughts please? I’m a nurse have been for a long time, worked hard to get where I am and moved from band 5-7 over nearly 20 years and pay not a huge increase between them. I have specialised within a certain area of nursing and have the option of working privately. I have been offered a 6 month elf…
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Do you put in a lump sum of savings into your pension pot
Hi I've got a work pension scheme and was wondering would it be best to put my savings into my work pension pot or keep it in my cash ISA
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SIPPS vs AVCs
Hello, I am struggling to understand if there is any benefit of paying into a SIPP over an AVC? Any help appreciated! Thanks
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Pre retirement advice
I will be 66 years old next year and will receive my full state pension in May. My wife is 58 and has a DB pension which she could take now but is hoping to retire in 2027 which at the moment will pay £12500.00 a year or £9500.00 plus £63000.00 lump sum.She now works for the NHS and has done for 10 years so will not be…
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Pension pot discovery
I have just discovered I have a workplace pension with Prudential, totaling around £23K. Its a surprise to me as I was switched to Legal & General in 2018. I assumed all of my pension would be moved to the new fund, but its turns out that is not the case. I'm not paying anything into the Prudential one, nor is my employer.…
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Pensions What to do? Take out a Lisa or Contribute to WPP?
Hello! Long time lurker first time poster! So a little back story… I’m 34 used to work in retail and was auto enrolled into Nest Pension. I had to leave work due to ill health around 6 years ago. In that time I’ve been slowly recovering and paying off debts and getting things in order. Now I’m in a slightly better…
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Naive question about SIPP contribution annual limits
Hi Everyone If a ltd company puts in the maximum company contribution of £60k a year into my SIPP. Is there a limit on what a director can additionally contribute personally? Thanks
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Adjusting estimated PAYE income to account for Private Pension Contributions
I have recently started paying into a private pension and reduced my contributions to my employers scheme to the minimum. I am a higher rate tax payer so will need to claim tax relief on my private pension contributions via self assessment. My question is.. is it acceptable to reduce my estimated annual PAYE income to…
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Small pot
I really have no idea what this
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Lump Sum Allowance 25% tax free
The pension LSA (25% tax free) stands at £268275 maximum. There are rumours it may change (reduce) at the next budget in October/November 2025. If that is the case, does anyone know how quickly the change would be made? Can it change overnight? Does it need legislation or in any case would need apply no earlier than the…
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Moving to safer investments
Hi, Newbie here, so go easy please. :) I have a pot of money in a DC pension that is essentially frozen as I've got other stuff going on elsewhere. I'm just over a year from 55 and I want to almost lock-in the gains I've made in order to plan a 25% withdrawal. Right now, I'm totally invested in higher risk funds (Standard…
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Access DC pot now to avoid 40% tax when I get state pension
I'm a 58 year old currently receiving c £40k pa from a DB pension. I pay 20% income tax on the element of this pension over my £12,570 personal allowance. I qualify for a full state pension of c £12k pa when I reach age 67. I also have a DC pension which I'm yet to access of c £125k. I feel it would be prudent to start to…
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10 years retired - how come finances are so good?
Ok this isn’t supposed to be any sort of boast but how come stock markets are so positive at the moment. My retirement fund balance is the highest it’s ever been this despite seemingly (to me) plenty of reasons why company earnings might be negatively affected in the next few years (tariff/trade wars; Ukraine war; unrest…
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Should i pay extra into my private pension?
Hi I need some advice on whether or not to pay extra into my private pension. Im 30 years old and my employer contributes 12% to my pension without any contribution from myself. If i make a contribution my employer will match 14% eg if i contribute £100 a month, £114 will be paid into my pension pot. I am in the Basic rate…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
727 discussions
6.3K comments
Most recent: Backdating rules for self employed-Class 2 by molerat
30 December at 2:25PM
