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Bigger pension and tax
Hi, So I'm about to join a new company (yay) and the salary now puts me at the start of the 40% tax bracket (56K). I was going to do AVC's as its salary sacrifice and I'm allowed to put in what I want (no debts). I read somewhere about a bigger tax relief at 40% but A) dont really understand it tbh and B) you need to start…
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Nest Pensions
In December 2024 my wife director/owner of our company wrongly/mistakenly ( as we are new business owners) paid from our business account a £5000 pension contribution which shows on her dashboard as a personal contribution. She has made contact several times excess of 20 to Nest. As the contribution should have been made…
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NI Gaps and no information in defails 1980-1990s
Hello I got my state pension forecast online which suggests when I retire age 66.6 in 2027, I will not qualify for the full state pension. I have gaps and online, there is no information against those gaps. I have evidence that at least 2 years of full-time employment were not added. Is this likely because HMRC was paper…
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Pension and retirement planning advice please
I am 54 years old and would like to retire at 60. I’ve been working at a university for the last 15 years and at 60 the teachers pension calculator suggests I will be able to access £18k per annum. I have £50k in cash isas and approx £100k across two Sips. I have no mortgage and a have circa £1200 a month that I have…
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2024/2025 SIPP contributions
I am filling in my self assessment form and I need to fill in my pension contributions for the 2024/2025 tax year. on ii, I can see the current year contributions but not the previous tax year. I can see my transactions and I made a contribution on 6th March 2024 (so not relevant) but the tax relief was applied on 22nd May…
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The Gap Years - Car Leasing and Credit
It looks like I may be getting closer to being offered VR from my employer - which will give me hopefully enough to “bridge” the 18months till I am 55 and can access my pension. I’ve always leased cars - mostly through VW Financial Services or a leasing broker for them like Stable Vehicle Leasing. These involve finance…
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Retirement Decision
I’ve been a member here for a
while and have enjoyed reading the various posts about early retirement. Now, I
find myself at a similar crossroads and would really appreciate some
encouragement and advice from those of you who’ve made the leap. To start, I know that
everyone's pension and financial situation is different,…
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Best way to buy Scottish Widows annuity
I have a pension fund with Aviva and want to buy an annuity. Coming up to 75th birthday. Money Helper shows rate from Scottish Widows would be significantly more than Aviva direct rate.But how to buy? Broker Hargreaves Lansdown quotes rate much lower then MH shows. Rate from RetirementLine is better less tan MH. I don't…
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SIPP access and P55 tax reclaim
I’ve stoped work (yay me), I’m being paid up to the 27th may so will have some PAYE income this year as well as having to draw some ISA and SIPP (this is for three years untill my DB kicks in then I’ll rebalance what I draw from where as required). i intend to take a series of UFPLS chunks from the SIPP, I’ve used some of…
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17 year investment starting now
I commented on this elsewhere recently but cant find the post, Im keen to get the 80K I have invested (its already in a SIPP) I have 17 years until I retire and am late to investing. With a shorter time horizon and with the current instability / high valuation, Im feeling like I should wait a little to see how things pan…
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Selecting retirtement age
As I near my 59th birthday, I am wondering whether I am running out of time to change the date I have set to claim my Personal pension. Is it true you cannot change the age at which you claim your personal pension once you pass your 60th birthday? I seem to remember my pension provider telling me this. When I set up the…
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IFA to DIY - Thank you forumites
I have completed our move back to DIYing. It would not have been possible without the guidance from many of the regular contributors on this forum so I wanted to say THANK YOU. Some months ago I started to research investment strategies following a change of personnel within the IFA firm I was with - people pointed me in…
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Pension tax relief for higher-rate earners, do I lose 5p?
Hello all, I think this is correct for a basic-rate tax payer (please correct me if I'm wrong!):* Earn £1 (gross) * Tax: 20p * Take home: 80p * ... * Pay take-home pay (80p) into SIPP * 20p in tax relief claimed automatically by the pension provider (80p * 0.25) * ... * Now my pension has 80p + 20p = £1, the original…
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CS pension scheme - Classic/Alpha/VR scheme
Hi, have been thinking more on this as will be 55 and thanks for all previous replies on here. Just some other questions: * If you completely retire at 60, is it right that it’s best to take legacy Classic at 60 as you don’t gain anything from deferring it. * Is it also right that if you are ok with the actuarial reduction…
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Redundancy - Less that a year of employment - Pension withdrawal
I have been told that I and the rest of my co-workers are being made redundant. I have been with the company 9 months tomorrow. They have given me two months notice and I am aware I don't get any redundancy as I've been here under two years. But my query is my pension. I have been in it since the first contribution in…
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Life assurance and IHT
If a person gifted cash to an adult child less than 7 years earlier (not excess out of surplus income or £3000) and then the person opted to change their life assurance so that payment on their death would be made to their adult child rather than their wife or added into their estate, how would this impact on potential…
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Local Government Pension Scheme in England and Wales: Access and fairness
There is an consultation regarding LGPS ongoing. You can find this at https://www.gov.uk/government/consultations/local-government-pension-scheme-in-england-and-wales-access-and-fairness/local-government-pension-scheme-in-england-and-wales-access-and-fairness I can see this becoming increasingly expensive!
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Triple Lock on pre 2016 state pension
Hello I receive the old style state pension. Up to April 2025, I received a weekly pension of £176. From April 2025, it went up to £179, s £3 increase. When I Googled it, it said that those on the old style pension didn't qualify for the increase in the same way as the increase only applied to one part of it. So, not only…
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Stakeholder Pension transfer
Hello all, thanks for reading this, I've got a stakeholder pension worth around £100k, I'd like to transfer it to a flexible pension where I won't get charged 3% foir taking the tax free drawdown and can set how much I recieve each month after. My intention is to transfer it in October 2025 and leave it there for a year.
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AVC pension advice
Hello, I'm trying to add AVC to my local government pension but it's asking me whether I want to use Prudential or Standard Life and with each choice is a big list of contribution types. How can I work out which one is best for me? Do I need to pay for a financial advisor? My work have stated they can't advise me. Thank…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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6.2K comments
Most recent: Help! HMRC State Pension Topup Callback by SVaz
18 October at 3:04PM
