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Passed probation at large corporation, now offered different pension, should I transfer to it?
Hi guys, I'm earning £65k per year and have recently passed probation at a large corporation, with this I am now entitled to a different pension, I’m currently on the company auto-enrolment level but am curious about the ‘Level 3’ option they offer. I am looking for maximum money in my pension but also don’t want my take…
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Annuity at 55?
Afternoon all! I turn 55 early next year and have a 45k pension pot from an old employer. I will have a decent pension from my current workplace when I retire at 67, however at the moment i'm not exactly 'comfortable' money wise - I have a reasonably decent salary but am single so all mortgage/bills etc are paid by me -…
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Ill health retirement
Hello A bit of advice would be much appreciated…. My partner is about to take ill health retirement in a defined contribution scheme. He has over ten years NPA His two options would be Take an annual salary of £42,500 and a tax free lump sum of £189,000 Or Take an annual salary of £39,008 and a tax free lump sum of…
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Early retirement- capital to regular income
Hi I’m planning to retire in three years time when I hit 51. I’m hoping this can be to Cyprus but one of the rules there is ability to evidence regular income of £30k a year. I will have around £190k of shares to sell to fund the first 5.5 years in Cyprus until I hit 57 and can draw my pension. However, I don’t think…
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financial adviser
hi all, I am on the lookout for a financial adviser who is good with pensions, assets split in divorce, etc... can you recommend a decent one from your own experience? TIA
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BTPS pension offset & NI contributions beyond 35yrs.
Hi, i appreciate there are various posts around this topic but i’ve not found anything to specifically answer my query. I am a BTPS section C member and I noticed in a recent retirement quote a not so insignificant “pension offset” decrease when i reach state pension age. ive read all the BTPS blurb & fact sheets, several…
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Help with working out balance remaining of pension lump sum allowance
I didn't crystallise any pensions before 6th April 2006. Between 6th April 2006 and 5th April 2024, I crystallised one DB pension. This was in March 2011. The total value of the benefits taken then was £475,506. The amount of LTA used then was 26.41% (the LTA ceiling then being £1.8 million). The tax-free lump sum taken…
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how to drawdown investment savings
I have about 150000£ spread over investments at H&L, Charles Stanley, and TD in Canada. I'm 71 and don't yet need this money but I would like to know how to access it when I do. Do I have to sell some portion of these investments every month/quarter to obtain the cash? Do I have to keep track of the 25% I can take tax…
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Should I take my LGPS early?
Interested in people’s views on this. What are some of the reasons other than Tax to not take your LGPS at age 55 ? Has anyone done a calculation of how the reduced income and lump sum might perform in a SIPP or trading account (or savings account at 4.6%) for 12 yrs vs leaving it with the government for 12 more years ? if…
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Interactive Investor SIPP
I'm looking at transferring a pension from L&G to II as we're unable to pay into the L&G one and there would be a saving on fees. However, I can see they have 40,000 funds but from what I can see there is no ability to look at the fund offering before opening the account? If anyone has a SIPP with II, would you be kind…
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SIPP Deposit Accounts OR SIPP Gilts
I have a pension pot (100k-ish atm) that -I believe- I wish to place inside a SIPP wrapper, although stocks, shares and the like are off the table as I don’t wish to depend on the swings of markets. SIPP Deposit Accounts OR SIPP Gilts is my question, together with what offerings and where are currently out there, and what…
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Partially retired civil servant paying higher tax rate
Firstly, I’m not at all sure if this is possible / allowed, hence the question. I’m a partially retired civil servant with a combined income + pension of ~£80k therefore on a higher tax rate. Not knowing whether tax contributions are ‘relief at source’ but if they are - can I make additional pension contributions to bring…
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Should I take extra out of my pension in early retirement and pay into S&S ISA?
A question raised on another of my threads got me thinking about the implications if my pension started to drift into higher rate tax. Planning to retire at 57 my target income is around £48k after tax. This is made up from £14k DB benefits plus UFPLS of roughly £41k from my DC pots. At this stage I could increase my DC…
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Pensions v ISA
Hi there just want to get people’s opinions on the following:- I’m 62 years old and looking to retire in the next 2-3 years. I currently have a SIPP (300k) as my main pension and two much smaller ones which I’m planning on consolidating in the next few months. I also have two cash ISA’s which have a combined value of ~50k.…
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Small Pensions - cashing in
I have 2 small pension pots; about £20k combined. Since they were 'parked' up, a number of years ago, I have started work as a teacher. By the time I get to retirement age (67 in my case) I will have a reasonable pension; contributing the the TPS scheme. I turn 55 in a few days and am looking to reduce my overheads. I want…
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Quick question, backpaying voluntary NICs
Hey all, hope everyone is good Apologies, I don't mean to clog up the forum but just a quick one as my deadline for paying is Thursday next week. I only have 3 years on my NI record, the three years you get by default at the beginning, and now I have the opportunity to pay back the years up until 2019 (all class 3 which…
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How best to plan to use some of a (currently 100% equity) DC for an annuity in six years time?
Firstly, apologies for the long post - I’m not
great at brevity and have attempted to answer many of the typical questions I see
in similar posts here upfront. Planning to retire in around six years (at 57)
when I can access my DC company pension. I’m fairly confident I will have ‘enough’ saved by then across…
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Pension Drawdown - Annual or Monthly ?
Assume I have a pot of 400K and I have decided a safe withdrawal is 4% Would you take one £16,000.00 per year or 12 x £1,333.33? J
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Insolvency
I’ve had a private pension since 2014 transferring my army pension and another private pension into this in about 2017 the dolphins German property group went into liquidation and I lost a lot of money however at this time I was 55 and have been told I should have been removed from high risk investments I still have my…
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Is the 4% rule still applicable today?
I’ve read a number of articles that Bill Bengen who came up with the 4% rule for drawdown is stating that he believes it is more appropriate to be drawing between 5.25% and 5.5% due to ‘today’s’ economic environment. What are people’s thoughts on this?
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