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Pension contribution amount to stay in BR tax
Hi. Should probably be easy to find out but I'm going round and round with google...would be grateful for real help! This year my taxable income from salary + pension +savings interest should come to £53400. So £3130 in excess of the £50270 threshold for HR tax. My question is how much should I pay into my SIPP to keep me…
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Should I stay with current IFA or jump ship?
Hi I am approaching 60 and want to semi retire. I would love to retire completely but cannot afford it just yet. I have had the same job for 40 years, it is a managerial job and I propose to step down to a member of staff earning just over minimum wage and to work for around 20 hours per week. I need approx £2000 net per…
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Early retire or defer
I will be 59 in a couple of weeks and have decided to jump ship from local government job. i do not need the pension or lump sum at the moment,(covered by separate DC pot). early retirement will cost around 30% reduction (£2400 down to £1600 per annum). can anyone tell me the payback period for taking the pension early…
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LPA through a company called ZENCO
Hello all. Ive today come across this online company called ZENCO About Us - Zenco Legal who offer to do your Lasting Power of Attorney for £99 per document and check it for you to ensure its legal. The website states it only takes 15 minutes to complete. Now i took it that this was a complicated document, so this has put…
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NI contributions for early retiree
I'm due to retire at 59 and have fully paid up NI and due full state pension when I get to that age. I know I don't pay NI on my personal pension but do I have to register anywhere for NI credits
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Phoenix Life Stopped Paying Monthly Pension
Hi, my partner's father is 86 years old and currently lives in the Dordogne in France. He receives a monthly pension of £800 from Phoenix Life on the 27th of each month. The last payment they made to him was 27th January and they have failed to pay on the 27th February and 27th March. He barely has enough money to pay his…
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What was SERPS and where did my pension contributions go to?
Hi From September 1996 to September 1998, I worked for a construction company in Darlington. I paid approximately £150 per month for two years. When I left the company they said they were paying all my contributions into SERPs for me as I had not quite me the full 2 year working period for the company pension. I've tried…
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Pension pot
Hi everybody can someone please explain to me if I could take money out of my pension and still work? I’m 59 this year and I’ve been working for the local government for 26 years can I take some of this pension out and then work part time or can I take some of the pension out and work full-time? How does it work? I’m…
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LGPS redundancy pre 2008
Hi, in the case of VR in the LGPS, how is the pre 2008 service and guaranteed lump sum treated? Will they be unreduced like the CARE pension? Or do they fall under different rules? Thanks
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Annual pension allowance calculation
I’m trying to work out how much more I can transfer into my pension before the end of the year. Pension is via salary sacrifice. Salary is £32k before salary sacrifice. Taxable pay to end Feb £24.6k. To date I’ve made a lump sum payment of £14k and my employer has transferred £6.3k
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Critique my retirement plan
Hi, First post on here so be gentle. I am coming up 55 in a few months, with a partner coming up 50 in six months. My figures are as such, £350,000 split fairly equally over 5 different companies but all DC pensions. £580,000 in stocks/shares ISA’s Then approx £20,000 in bank Partner only works P/T and has no pension or…
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Help with civil service pension remodeler
Hello all...... I am 56 and looking to retire within the next year. I have 33 years completed in CS and pension was classic then Alpha. I am still working full time but had my fill and want out 😃 I have looked at remodeler and have option A or B which I understand ok......my question is remodeler shows my age as 57…
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Civil Service Pension CSP Alpha and Nuvos - Early Retirement Reductions
I am hoping some smart people on here will be able to help me make a best guess on what reductions will be applied to my Civil Service pension as I am getting nowhere with CSP on this matter. The retirement modeller doesn't work for me. Note that I transferred my Local Goverment pension to CSP as the numbers were better. I…
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Nearing Retirement and Investing £100k SIPP v ISA v other?
I am 57, ready to stop work in next 15 months and fortunately we now have a cash lump sum of £100k I'd like to work hard for us over the next few years. My contributions to existing company DC scheme would stop in 3 months. In remaining 12 months before my stopping work, I cannot pay into same company pension from that…
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Retirement planning portfolio
HI, I’ve recently started looking into making my money work a little better and more tax efficient. I plan on retiring in 12 months time,im looking at options with very low risk. I hold a large amount of cash in one year bonds,and have a modest nhs pension and an average private pension. Has anyone got any basic ideas to…
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Lgps - impact of being contracted out
i read a news article this morning about someone being contracted whilst in the forces and the impact on their state pension. This made me think about my LGPS pension. I took early retirement aged 61 two years ago. I hadn’t thought about impact of being contracted out on my state pension when I retire at 67. Although I do…
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HMRC taxing pension
Hi all I was wondering if anyone can advise me as to why my pension provider deducts tax at source for HMRC from my small withdrawals, which I then don't get back for a whole year after I've completed my self assessment. I have no other income and my withdrawls have always been less than my personal allowance of £12750.…
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Earnings or Pension
Hello my husband is 51, his annual earnings are now into the higher tax bracket, at the moment not by much approx £400, is he better off putting all of that into his pension than taking it as earnings, will he pay less in pension tax than earnings tax, hope that makes sense. Many thanks 😊
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Applying for state pension
* Applying for state pension,it asks the dates of any time spent living or working abroad. * How does this affect the pension amount? * I have a few years without enough contributions for a full pension * I have had some years spent abroad, working and not working,are there limits to the periods before deductions are made?…
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Calculation for topping up pension
Can someone please just check I have worked out the right amount to top up the wife's pension this year, I have got myself confused as included the government contribution at first but obviously an higher amount if I use the figures on her payslip, she has been in and out of salary sacrifice through out the tax year just…
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Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
13 August at 7:57PM
