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Defend or Attack?
we’re still working towards our number. Target retirement April 2029. It looks like we might hit the number needed in April 2027 next year but we still have to wait until 2029 so a ‘mini coast’ if you like. I want to consider my allocation. Logic suggests maintaining a growth position and I still have two full years of…
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Age 57: ISA bridge or pension top-up for early retirement?
Hi folks, I’m 57 and trying to plan seriously for possible early retirement or semi-retirement. My aim is not to work full-time beyond age 62, and possibly earlier if realistic, partly due to health concerns. I own my home outright with no mortgage and only have a small remaining interest-free debt of around £1,000. I have…
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Marriage allowance, UFPLS and bank interest
Hi, My wife has transferred some of her personal allowance to mine. My wife earns about £10,000 per year. I have a salary of £40,000 per year and am taking a further £13,333 year from my SIPP pension using UFPLS so 25% tax free and the remaining 75% or £10,000 taxable income. That brings my income for the year to £50,000.…
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Topping up DC pension pot and carry forward question
We're planning to top-up my wife's pension pot that hasn't had additional contributions for some time but she does contribute to a work pension (DC). The plan is to top-up to utilise her full allowance for this FY (salary well below the 60K allowance). I assume this figure would be her salary minus her contributions but…
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Paying for care
I am having a challenge raising money for my Mums care. I am her POA. She has been diagnosed with Altzhimers and had started to find it difficult and lonely to live at home alone. She elected to move to a care home ratber than have a live in carer. She is very happy and fully participating in activities locally with…
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Comment on portfolio allocation
Hi, I know its a 'how long is a piece of string' kind of question. Yet, would like to get your comments on this allocation. 60% S&P500 (VUAG) 20% Berkshire Hathaway 20% TDGB (Van Eck developed markets dividend leaders ETF) This is for a pension 17 years from retirement. 100% equities but too defensive? Missing out on the…
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NHS pension lump sum dilemma
Got an estimate of £37K and lump sum of £110k or £29.5K and £195k lump sum approx. But which one is best? £37k with some added part time work (for a short while post retirement) takes me into higher tax bracket and even after finishing work with cpi increase and SP will do the same in 7 years. £30k means some tax to pay on…
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Pension drawdown
I am considering drawing lump sums from one of my private pensions Finding the best way to do this is quite daunting. I am told a fee will be due if I choose to go down this route. I am 63 years old and currently not working after being made redundant last year. I have been unable to find more work, unfortunately. But as I…
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GMP Equalisation
Hi there, Has anyone experienced the following, and/or can anyone offer any assistance? I have a small DB pension relating to the time I was contracted out of the state earnings-related pension scheme. I was originally provided with a benefits pack detailing the benefits payable before and after GMP equalisation, and was…
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DB Pension - Tax Question
Hi Bear with me if the terminology is incorrect, I'm only just now getting to grips with this pensions malarkey! I have reached pensionable age in a DB scheme and I intend to start drawing this pension whilst still working. The DB pension is £200 per month (£160 after 20% tax). I was recently informed (not "advised") that…
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Anyone else struggling to get answers about the new VNI rules abroad? Self‑employed in Spain
Hi All I’m hoping someone here might be in the same situation or has managed to get a clear answer from HMRC, because I’ve spent hours and hours going round in circles and still don’t know where I stand. I’ve lived in Spain for 21 years and I’m self‑employed here (autónoma). I paid 19 years of NI in the UK before moving,…
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Looking for a deferred IBM M Pension Plan Member for a possible Buddy Transfer
I am trying to identify other deferred members of the IBM 'M' Pension Plan, who are considering transferring to another platform but needing a 'buddy' to join up with for a block transfer which would retain any protected tax free cash.
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Thoughts on Delaying Claiming Civil Service Classic Pension
Hello, first post here, as I noticed some great advice on Civil Service pensions in the forum. I would be grateful for any thoughts or experience on my current dilemma as to when to claim my preserved civil service classic pension. Here's the situation: I turned 60 this year, so am eligible to claim my preserved Classic…
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Using my SIPP for an annuity
I am 59 and edging upto retirement. I have a large SIPP (£1.05m) and also an ISA (£450k) and are considering using my SIPP (or part of it) as an annuity thus effectively de-risking. I would like to understand how using my SIPP for the annuity would work from a tax point of view e.g. what happens with the TFLS and will I be…
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Employer pension contributions past state pension age
I have been in my company pension for 5 years. I've worked for them for 10 years. I wasn't originally auto enrolled as my earnings were too low, and I requested to join 5 years ago. I am 66 and have been informed I no longer qualify to be auto enrolled as I am past state pension age, which appears to be correct. I have…
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Is contributing 100% of relevant earnings advantageous?
I'm considering the situation within the last (tax) year of working before retirement. If one's relevant earnings for the tax year were below £60,000, would it be advantageous to make a relief-at-source (RAS) gross contribution of 100% of those earnings to a personal pension before the tax year ended? In particular, the…
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Auto enrolment for 18 year old
I've managed to convince my 18 year old son to ask his employer to allow him to join the company pension. He showed me his first payslip with his contributions on. It didn't look like enough had gone into the pension to me. He queried it with his employer and they came back saying contributions are not made on the first…
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I can’t find my Topshop pension
I worked for Topshop (The Burton Group) from 1986 until 1996. I’ve have gone through several pension tracing providers and have come back with no results. I was 21 when I first started in 1986. Has anyone managed to find their Topshop pension around those times?
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Net pension / benefits / salary sacrifice
Good morning, Work / Benefits / Pension I previously posted on the forum about my place of work changing our pension sacrifice from NET to GROSS, where we will be taxed twice for our contributions. This is where I am not sure that I have this thread under the correct heading….. Due to the change in salary sacrifice this is…
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HMRC Online State Pension Calculator
Can anyone advise how accurate this calculator is ? My indicated pension is about £9 less than the maximum State pension per week. I'm ok with that having been contracted out for most of my working life and come to the conclusion that paying nearly £3000 to make up the difference is not worthwhile for me. I have 44 years…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
751 discussions
6.5K comments
Most recent: If You Have Registered For A … by MicKeat
4 July at 4:15PM
