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Pensions, annuities & retirement planning

For help with everything to do with pensions and retirement.

UFPLS Tax Refund
How long does it normally take in the usual course of things, for HMRC to make a refund of tax paid on a UFPLS payment that was made on March 28th 2025? Is it recommended to complete a P55 claim to speed things up or does it not matter given the tax year in question has just closed?
Pension Contribution Question
My workplace already puts 10% into my pension without any contribution from myself. If I were to contribute, is there a way I can work out how much I would be better off? I will try my best to explain, but basically I want to work out how much of a saving I would be making by contributing, given my tax bracket (40%). I'm…
Help understanding NHS pension for someone who has always been (sort of) self employed
Hello I've popped up again to leverage the experience on here to compensate for our ignorance in pension matters. Some background (and I will get to the NHS bit eventually): 1 - Myself and my missus have always been self employed, or directors of our own businesses. 2 - As a result of being daft really we got to our mid…
SIPPs/Pension Dilemma
I have a SIPPs since 2015 and it got hammered during Covid but bounced back and June 2021 was approx £455k, now June 2025 it is £470k. Due to Covid, Russia/Ukraine war and Trump it has only gained £15k ( after £30k fund fees in 4yrs). With fees now £7.5k annually Can anyone give me some advice on what to do? Inflation has…
Is there a pension scheme i can withdraw some of my pot before 55?
Is there any pension schemes where i can withdraw some of my pot before the age of 55?
How doesn't Mum receive full State pension?
Mum started work at age 16 and worked until her retirement at age 65. She is now 87 and has never received full State pension. She did elect to pay the "small stamp" in 1976 as my Dad was self employed. She finished paying the "small stamp" age 60 but carried on working until age 65. Shouldn't she be entitled to receive a…
Cashing In An Annuity Pension
I recently discovered a small pension pot taken out by my father on my behalf around 40 years ago. It is with the Pru and following a long conversation have decided to cash it all in, as I need the money (c.£50k) for home improvements. They have asked me to get a Financial Adviser to sign an Appropriate Advice Form, to…
Workplace pension
Hello, advice wanted. Is it worth restarting my workplace pension at 56? I haven't had 1 for many years, there is about £3000 in it now. If it is worth it, what would I need to add monthly? Thank you.
Interactive Investor - calculation of 25% tax free cash when holding Index Linked Gilts
In common with many platforms, Index Linked gilts are shown in my Interactive Investor portfolio value at the clean price. Obviously, the market price is much higher. When I come to take out 25% of my portfolio as tax free cash, do the Index-Linked gilts get uplifted to the current market price in determining the value of…
Paying the most I can into a pension - daft idea?
I am in my 40's and currently pay most of my salary into my pension. My thinking is that it will then have the greatest amount of time to grow. I don't know anybody else who does this though and wondering if I'm missing something and it's not a good idea?
Inheritance Tax Threshold
Hi, I am dealing with my fathers estate following his recent death. He lived rent free with his partner, but owned a property that was let to tenants. I am the only beneficiary. Given that his rental property was his only property, would he be entitled to the additional threshold of £500K
DWP claim they do not send text messages advising they will call
I have seen a number of posts from people who have received text messages from the 'DWP' advising they will call "tomorrow between 8am and 6pm to talk about paying voluntary National Insurance contributions". I spoke with the DWP today, they said today they do not send text messages so anyone who has received a similar…
Maximum tax free lump sum
I’m currently 55. I’m fortunate to be due a lump sum of about £190,000 from my NHS pension age 60. I no longer pay into the NHS pension (I now work in the private sector) but am saving into a DC pension and hope to have around £500,000 in that when I retire at 65-67. I’m aware that the maximum tax free lump sum that can be…
Taking pension Drawdown
This discussion was created from comments split from: Taking pension Drawdown.
Frustrating experience with Aviva's pension customer service
I’m very disappointed with the poor level of customer service I’ve received from Aviva regarding a simple pension query. I called to request a tax-free withdrawal of 25 percent across three pension policies. I explained clearly that I wanted to take 100 percent from one of the smaller, underperforming policies and then…
Can I retire - a stupidly simple method
So I know there are a multitude of retirement cash-flow planners out there that attempt to predict whether your assets are enough to support your retirement such that you don’t run out of money. There is a whole industry that has grown up around modelling these in cash-flow plans. BUT, retirement planning would be a simple…
Paying NI for my last working year in time for my pension
I am due to retire in June 2030. My State Pension Summary says 'Forecast if you contribute another 6 years before 5 April 2030: <full pension amount>'. To achieve this, I will need to contribute for the 2029/30 tax year. BUT... I am self employed. Usually I get a bill for my Class 2 contributions after I have done my tax…
Which platform for separate crystallised and uncrystallised pots?
Currently mostly with II but it seems in drawdown you can't have separate crystallised and uncrystallised pots with different invest mixes, nor chose certain current holdings to crystallise. Any suggestions for platforms that provide this - or do people have a second provider (and set of fees) for their crystallised pots?
Unchecked year in my NI record
There's a tax year on my NI contribution history 20 years ago marked as 'Year is not full. We are checking this year to see if it counts towards your pension. We’ll update your record when this is finished, you do not need to do anything.' I don't know why this year is still marked as unconfirmed. It would help towards my…
LGPS death in service grant
Please could anyone clarify what happens if there is no EOW in place at the time of death - specifically, do the regulations stipulate that the grant must be paid to the estate, or are they worded in such a way that the local authority still has some sort of discretion over the payment? I've looked at several websites for…

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MSE News

Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payments this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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