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British and Irish State Pensions. Advice needed.
Hello, I'm British, a UK resident and I currently have 21 years of UK National Insurance contributions built up. I also lived and worked in the Republic of Ireland and have built up 24 years of PRSI (Irish National Insurance) contributions. I therefore qualify for a full Irish State Pension but I will not qualify for the…
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Child benefit NI contributions and Self Employment
I am a stay at home parent, partner brings in around 50k. I receive full NI credits via our child benefit payment which I will get for another few years yet. My query is; I have this year been making a small amount of money from selling products, which if I keep going, will go over £1,000 by end of 2025-26 tax year. I…
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deferred pension arrears extra payment tax
Hi there. I aplied for my deferred state pension last July. It is for 10 years. The DWP took so long dealing with it all papers getting stuck in Belfast etc that they did not get my basic award notice to me till the end of March. Then proceeded to put about £11,000 into my account on the 7th april.. after the tax year end!…
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Pension consolidation into a Salary Scheme (defined benefit) pension
Has anyone experienced consolidation into a Salary Scheme pension? I can see from the info page on this site that its advised not to take out of these as they are valuable but doesn't mention anything about the other way. Especially as the process is complicated as the Salary scheme provider gives you a 'transfer…
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Cheapest Sipp: build yourself a low cost DIY pension article
This discussion relates to the Cheapest Sipp: build yourself a low cost DIY pension Article To discuss click reply
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Aegon s.32 Buyout Plan
Hi, I'm a long time lurker, first time poster. I have been enjoying this forum immensely over the last few years, especially since I saw the road to retirement end date in sight. So last week I am pleased to say I handed in my notice and triggered early retirement (ER) commencing in just over 3 months time. I have a…
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65 and taking retirement in 4 months due to ill health
Help! Have no clue. I am leaving my current job in 4 months on ill severance (on garden leave for 3 months) state pension kicks in next February at age 65. I have 6 different pensions aside from my current jobs, which I am applying for ill retirement. Is it a good idea to cash in your pension pots or pool together on an…
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Managing impact of 2025 IHT on Pension pot
HI all, I am now of state pension age with a decent sum of money in a private pension. My plan was to leave the private pension invested long term to provide income to me and my wife and then on my death to provide benefits to my spouse and possibly son who are both named beneficiaries. However, the recent changes in IHT…
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Considering annuities
Again on the ongoing search for what to do for retirement income.....I am currently looking at the possibility of annuities. But am a bit confused. (previous - Ongoing search for a place for my pension — MoneySavingExpert Forum ) OK so the pot in question is currently about £136k which is up nicely from a year back. It's a…
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Tax relief on SIPP Contributions for Director
I am controlling Director of my Company. If my company makes contributions in to my SIPP (which it books as a business expense) am I still able to personally claim tax relief on these contributions in to my SIPP up to a maximum of £60,000 pa
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Old Pension move advice
Hi all, Just after some quick advice as to what to do with an old work pension. The company i worked for was looked after by Kier over a 3 year period who we paid a pension with into an Aegon account currently sat in a fund called: Aegon BlackRock LifePath Flexi 2046-2048 (BLK). It only has about 6k in it but i am unable…
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MyCSP - missing years/transfer out - could it be fraud?
Bit of long story but I have a classic and alpha pension,
and subject to the McCloud judgement, so my pension statements are pretty
complicated have changed a lot. As I’m in my early 50s I’ve started to pay
a bit more attention and questioned why my pension is so low. The answer has turned out to be quite simple, the first…
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Last minute indecision about taking defined benefits pension
I retire in July and apart from my state pension, all I will have as income is a very small amount from a defined benefit pension scheme that I had with an employer many years ago. My initial decision was to take a monthly income of £160 plus the 25% tax free lump sum of £15k up front and I've put that request in motion…
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Auto-enrolment
This year I was auto enrolled into an occupational pension by my NHS employer this year. I was not aware this was an option having already taken an NHS pension 7 years ago. I learned that auto enrolment has been around for years and there was an obligation on employers to implement this. Having been in my current job for 7…
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Section 32 buyout policy - changes that stop ability to drawdown on enhanced tax benefit
I have a section 32 buyout pension with Aegon which has enhanced benefits. I received a retirement quote on 27 May 25 with three options, the option I wanted was to collect the protected enhanced tax free lump sum and then move the balance into a flexible drawdown. I spoke with them today to arrange this and was told this…
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GMP and state pension
Hi I know this has been covered extensively in the forum but I can’t find a clear answer to my query. I don’t reach state pension age for a few years yet but I’m planning to retire soon. I’ve done a state pension check and it tells me I’ve reached the maximum and cannot improve on £230.25 a week in today’s numbers. On…
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Who can advise re LGPS and consolidation?
Morning all. I've currently 2 local government pension schemes. Pot 1 is deferred and I consolidated other LA pensions I had and another old work and private pension into it a number of years ago. I moved between 3 different LAs over 7 years so it's not a massive time I had putting money into LGPS. Pot 2 is a current LA…
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Pension Contribution With No Relevant Earnings but Higher Rate Tax
Hi, My pension income takes me up to the threshold for higher rate tax in Scotland. If I contribute £240 a month to my pension grossed up to £300 and if I then withdraw this additional income it will be over the 41% tax band. Can this additional 21% be reclaimed OR as I have no relevant income can I only get 20% tax relief…
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Higher rate tax and pension contribution question
Hello I'd like to ask a question to those out there who are a little more clued up than myself and my colleagues when it comes to higher rate tax, refunds and pension contributions. I have spent most of today trying to look into this, with little to no luck in finding the answers to the specific questions I am after. I…
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Is paying for additonal pension 100% not worth it anymore with Teachers Pension?
I continually buy £250 every year. Now age 40, want to claim everything at age 60, or defer claiming this APB pot I have been building to age 65 instead and take the normal pension at 60. (I have paid for 3 year buy out too) £250 APB. 1 year term, cost is £254 per month before tax, effectively £3000 £2400 in real terms…
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721 discussions
6.3K comments
Most recent: Delays for P55 tax refund from HMRC by leosayer
21 November at 11:44AM
