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Semi-retired, can I avoid higher-rate tax?
I am semi-retired and have two defined benefit pensions that come to ~£47,000 per annum. I work part-time (self-employed) and earn ~£12,000 per annum. Am I able to put any of my additional funds into a pension (SIPP) to shield from higher-rate (40%) tax?
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Underpaid pension
I recently contacted HMRC regarding underpaid pension for my late mother and father. They have stated that they don’t have the pension records as they passed in 2016 and 2011. Therefore they cannot assist. Is this correct?
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Managed Portfolio Service for investing SIPPs and ISAs
I'm 78, retired, and I feel I'm being overcharged for managing my SIPP and ISAs. I am paying a management fee, a platform fee and an advisor fee. I'm not in drawdown and have no plans to access my pension fund in the foreseeable future. My current advisor gives me no useful advice and the investment return is poor. I don't…
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Do i need to pay any more NIC's after taking early retirement?
Hi Guys, Quick question, I am a male and was born after 6 April 1951, im 58 this year. My NI record on the Goverment gateway website shows full NIC's years from 1983 up to 2024. The Goverment gateway website shows me my pension forecast and shows me the payment i would receive at state pension age and states its the most i…
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Tax efficient
Have 800k in various pots. what would be the most tax efficent way to get around £2500 a month with no other income am 56 year old
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Making additional SIPP contribution before end of tax year, as a self employed low earner
Hi everyone, I’ve been reading some of the threads recently
and I’m learning a lot, thank you. I have several small deferred DB pension
pots with different companies, which should start kicking in when I turn 60 in
about 3 years’ time. I’ll probably return with more questions about those, but
in the meantime I want to ask…
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Armed Forces Spouses Pre 1975.
Why is the cut off date for Armed Forces Spouses pension credit 1975? My wife accompanied her husband overseas several times prior to 1975, therefore she was unable to make NI contributions and now receives a reduced pension of 60%.
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Fees for setting up an annuity? And dealing with annuity providers directly
Doing a bit of annuity research and read that typically insurance companies charge a fee (either flat or a % of the fund) when taking on a new annuity. Perhaps naively I thought this would be fee free and they'd price this into their quoted rate. I'd assume a fee of I were using an advisor but not going direct. I'm not…
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Tax rate on DB pension lump sum.
Hi ,I have made the decision to retire from work and to spend some relaxation time doing things for me.I have worked in the Utilities sector for 40 plus years and I have been fortunate to have contributed to a decent Final Salary Pension scheme [DB scheme] for 40 of those years.I am currently a 40% tax payer and my…
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Lgps small pension help
I have a tiny deferred pension with lgps worth around £2500 and am trying to have the whole lot paid under the small pot rules but lgps say I can’t because I also have another deferred pension with them and am currently paying in to another. Is this right or am I right? Anyones help much appreciated…
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civil service pension
Helloreally need some help my partner retires in maywe have had the pension quotes from civil service and it says choose A or B for the remedy periodwe have read a lot about that, but still on the modeller B has the highest lump sum at £51000 ? and higher pension so do we believe the figures on the first page? also is…
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Retirements and Pension advice
Hi All First post, long-time lurker. Need advice on what I should do… 60 years old and
transitioning into my third act, have worked in financial services all my
career. Have the following assets. Home (House, worth about £1.3M, no mortgage) Old DB Pension about £24k per year currently, can take it
now or up to official…
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Carrying Forwards a Pension Allowance
Hi Im aware that I can use the previous 3 tax years pension allowance, however am I able to roll back a previous tax years pension contributions in order to create more space. For example, if I exceed the Pension allowance for 24/25 and there is not enough left in the 3 previous tax years, can I roll back the 23/24…
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USS - Newbie needing help!
Hi Everyone, there seems to be some great advice on here...and great explanations on the pension minefield. I really can't get my head around it! Anyway, I am taking VS at the end of April. My severance pay is 15 months' salary, and the taxable element is £81,359.47. I am planning to pay this into the Investment builder…
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HL Slow / Busy This Year
Last year HL received UFPLS application 7 Mar, cash in bank 15 Mar, previous years similar timescale.This year received application 7 Mar, received e-mail today, 20th Mar, "We will now process your application"
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Contributions to SIPP v ISA when close to retirement
Hello, I'm sure I must be missing something obvious here but.... e.g. 8k into a SIPP grossed up to 10k (so 2k 'free') but when you come to drawing it out if your SP and other pensions use up your tax free allowances then you pay 20% tax getting it out (2K). So does it make any difference whether you contribute to your SIPP…
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Final Approach
Wheels down, flaps at 80% etc etc. Date now in with employer for 31 May. Aiming for total taxable income of 27491 in 25/26 (top of Scottish 20% band). Wages will be about 7900 over Apr/May. Am asking for LGPS pension of 630 month to be activated immediately but not expecting this to kick in until July/August as it has a…
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NI voluntary contributions
hi can you still make class 2 contibutions if your already getting a state pension [ gaps] ?
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Reclaiming possible overpayment of voluntary NI contributions
Think I messed up; On the 17th February 2025 I paid Option 2 of 4 options; £206.05 which would have taken my state pension up to £209.66 a week, with a view to paying the remaining £887.60 this month when a short term savings account I had matured. Because of the backlog my payment has not been registered so the only way I…
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Enhanced Annuity Rates
This is a bit specific. I almost certainly won't be taking out an annuity in the near future but I like to keep all my options costed on my spreadsheet and run through them occasionally. I've been trying to get some ballpark figures for the time being and am using the money helper site. I do have some pre-existing…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
700 discussions
6.1K comments
Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
13 August at 7:57PM
