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Pension Help
Good Afternoon all. I need some advice if possible. I have a workplace pension and i currently salary sacrifice 20% of my wages into the pension. I currently have £50k in savings and i would like to transfer this to my workplace pension. I am being told there is a tax rebate on any contributions. Could someone explain how…
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Considerations of when to take DB Pension
I am targeting retiring in spring next year when I will be
57. I have a deferred DB pension with the PPF which I had fully intended to
commence payments from at the start of my retirement however I’ve started reviewing
the timing of this and would appreciate any thoughts / comments. The last PPF statement I obtained showed…
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IFA Charges
I have just been sent new contract charges and just wondered if this was about average. I am looking to get advice from them regarding my pensions. One is a company DC pension and another is a private personal pension. Lump Sum Investments and Pension Contributions / Transfers Amount invested Up to 150k - 2% of the amount…
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Vanguard Pension Tax Free Withdrawal
Has anyone managed to withdraw funds from their Vanguard SIPP without having to book an appointment with a so called Pension Advisor?
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Lump sum payment
Hi, after some help please. I am drawing a lump sum from my pension (im still working full time). Im already a 40% tax payer (public sector employee) and the amount i receive from the withdrawal will push my income for the year into the 45% tax bracket. I know i have to pay HMRC the tax on the lump sum but what happens…
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Pension transfer as part of divorce
As part of my divorce, I am due to receive £100K and need to place this into a pension. Any advice on how I choose a pension provider? What I need to consider and what I need to be aware of?
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McCloud Remedy
I joined the NHS pension scheme in 2003 and left the service in 2022. So a large proportion of my pension is affected by the McCloud Remedy. I am now 60 and was hoping to take my pension this year, so I need a comparison between the standard pension and the remedy. I have been in contact with the NHS Pension, but with no…
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Topping up state pension .Which years ?
I was missing 7 years , I bought two years after 2016 which brought me up to 35 years . I still needed to buy 5 more years as I was contracted out until 1991 , I was then receiving credits until 2009 . I've recently received a letter telling me I can buy years after the April 25 deadline so after another call to the future…
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Nhs pension question
What is the difference between a one off payment with no PCLS and one off payment with maximum PCLS ?
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Take 25% tax free lump sum before budget?
I have unit linked pensions with 3 insurance companies. Does it make sense to take the 25% tax free lump sums from these before the budget - just in case? If I do, I'm not sure what to do with the remaining 75%? I'm between 70 and 75. I'm not very interested in managing the investments, but I'm not sure I want an annuity.…
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Partial drawdown management
I've been drawing money out of my Standard Life money purchase pot, and have not yet reached my 25% tax free limit. But when I make a withdrawal an amount equivalent to 3 times that withdrawal is out into a separate pot for future taxable withdrawals. However that pot doesn't just hold 75% of my money at the time of…
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SIPP + Teacher's Pension? Quit Teaching?
Lots of ifs and buts here, so please bear with me! Looking for general ideas. I'm 48, have taught part time (0.5fte) for 25 years and paid into Teachers Pension during that time. When people say 'total value of pension', I can't find that figure, nor will they give me one. All they will say is, if I retire at 55 I would…
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When to retire NHS
This is of very little import really as the amounts are very small, and we've had a lot of posts about the optimum retiring date, however the scheme information on the SPPA website doesn't go into this level of detail. I retired and took a part-time post with the NHS and started an NHS pension. I'm now thinking about…
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strategy for withdrawing pension / reinvesting
I'm in the early stages of early retirement with my husband (ages 56, 57). At age 67 we will get the full SP plus about £2k p.a. DB pensions. I have a £940k DC pension, mostly in a SIPP, plus a £690 k ISA pot and about £160k in a GIA. My husband has a £1,280k SIPP, so he would have breached the old lifetime allowance…
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Tax on DC Pension
Hi, I'm hoping to move my works DC Pension next Oct and withdraw it as I will be 55 and I'm wondering how much tax I will pay. My total pay is £50,000 so will I get 25% tax free and then pay 40% tax on the rest? I have a normal works Pension, which Im going to take at 60.
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Tax on overseas pension
I’m about to start taking a db pension I earned while working for the States of Guernsey many years ago. HMRC regard this as an overseas pension and both the annual income and the compulsory lump sum will be taxable. I also still work part time in England on PAYE. How will HMRC gather the tax from my pension? Will they…
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Interesting report about retirement lifestyle (Quilter Retirement Lifestyle Report 2025)
I just came across the report about the attitudes and health of retired people. It is interesting to see that spending is far more realistic compared to the Retirement Living Standards: from PLSA or as they call themselves now, Pensions UK. It suggests that the average retiree spends £22,141 annually, with holidays,…
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Newbie pensioner here
Hello. I have recently retired and currently receive a state pension and a small amount from a private pension. I will also be receiving (when they stop dragging their heels!) a LG employers pension (worked in a school for 29 years). I have been on the Government website to ask about tax payments I should have to make but…
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LGPS Regulation 10
A ex retired colleague has suggested I might be legible for regulation 10 when I ask for my retirement figures in about 12 months time. A bit of background, about 5 years ago the department was restructured where some people ended up with lower salaries, my basic stayed the same. However standby was cut by £50 per week,…
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Retiring after self employment
I have reached state pension age and I am still working as a self employed carer in England. I need to retire soon, work is getting harder to do as my mobility is getting worse and worse, i am hoping to retire November or December. When I retire i will need have my state pension and pension credits. I plan on moving to…
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