Pensions, annuities & retirement planning

Hi, I'm not really sure what to do with MyCSP. I am retired, living on the Isle of Man. I gave MyCSP the four months notice of my impending retirement on the 17/11/2023. They sent me forms to fill out which I did and sent them back on the 12/10/2023. My retirement date came and went and I had heard nothing. I emailed them…

Hi, I transferred out my pension 4 years ago into a True Potential Managed Pension Fund. It's doing OK and has gone up circa 40% over the last 4.5 years (it's a Balanced risk fund). I have always wondered how it would have performed had it been invested with AJBell or any other company. Is there a comparison tool that…

For some reason I’m not getting the ramifications of this so if anyone has any thoughts, I’d be grateful. What are the implications, issues, upside or downsides when it comes to taking a monthly annuity in advance against in arrears. Is it simply a matter of a slightly ( very slight ) difference in income or is there…

Here's my question i need some guidance / help with. I had 3 pension from different employers, cashed "one in" with the normal rules of 25% tax free everything else at Standard Rate. So does the same rules apply to the others do i still get the first 25% Tax free Or because i have cashed one in do i have to the tax at…

Morning all, I hope you have managed to find some time for yourself in what can be a busy period. We have enjoyed spending time with family over the last 3 days, it’s a quiet one today, then off to visit more family tomorrow. I’m not planning anything wild for NYE, but have been really starting to think about what I want…

I've had to delay retirement due to issues with sppa. While waiting for the ombudsman to review matters, I'll take partial retirement starting in June of next year. I've reduced hours by 33% (edit - reducing by 50% not 33%). Forms with manager and HR. Still to send NHS:ret form. Am I correct in thinking I can take all my…

i've worked at the same place for 19 years but for long period have opted out of payments to the pension. i'm now 45 and want to catch up, and benefit from tax relief. However, it says you can only pay in up to your total gross salary per year which mine is around £30,000 give or take. However, the last 3/4 years I have…

I'd welcome some advice if I may. I have an ILG ladder with Bell. It is all uncrystallized at present. To tie me over until SP kicks in, I'd like withdraw an annual amount of cash - for the sake of argument, let's say 30K - to pay for day to day expenditure. My thinking is to drawdown/crystallize 72K, use the 25% tax free…

Maybe over thinking this but can’t get my head around it… About to start taking pension by UFPLS. I have a several years of potential withdrawals in MMF purchased last year, remainder in multi asset fund. Should I take the withdrawal: By selling units from MMF, then sell units of the multi asset fund to top up the MMF for…

I would like to set up an investment for each of my grandchildren. I was thinking of investing £1,000 into the S&P 500 for 30 yrs. Can anyone advise the best way to go about this?

Hi. I have 5 x PAYE part time jobs. My latest one is offering a pension with salary sacrifice. Min 4%, Max 100% company contribution 7%. I want to do 100% of this job into the said pension. I earn enough off the other 4 jobs, I'll earn about 2-3k annually from this one. The conditions say the following. Salary exchange…

I was under the impression that I have to wait for cash from any sales to settle before I can use that cash to buy a new investment. However I am making some movements around this week, and I noticed that II seems to be using "pending" cash to pay for my purchases. Have I misunderstood how this works? Maybe it will let me…

So DW and I are in the lucky position that about 67% of our retirement income will come from Govt/LGPS DB pension and state pension so fully index linked. However this means we are majorly exposed to UK sovereign risk. If the UK ends up doing a Greece and being forced to slash pensions we are very exposed. To hedge some of…

Hello, I am considering purchasing an impaired annuity with my £300k pension pot at age 55 due to history of stroke 10 years ago. So far I have got quotes from the moneyhelper website and have been looking at the sharingpension website. Please can I ask for advice about best next steps to get the best deal to maximise my…

On 6th April 28 minimum pension age increases to 57. My DOB is Oct 71. If I start accessing a DC pension from Oct 26 (age 55) can I continue? Or on 6th April 28 (age 56) will there be limits on how I can access my pension? What are the guidelines? I'm thinking I would be able to access crystallised funds in a drawdown…

I'm thinking of selling my investment in VAGS Global Bond fund and creating a bond ladder with the same amount of investment. Have other posters here successfully used the tool at this site to determine which ones to buy: https://lategenxer.streamlit.app/Gilt_Ladder It seems like I put in my parameters and then it tells me…

I retired from my LA on 30 June 2026. I had an AVC (Prudential)) and opted to take the amount as a tax free lump sum. As of yet I have not received anything and I am losing out on interest as I had planned to invest the money. Does anyone know how long the process takes? Who do I contact? Will they compensate me? Should I…

Sidestepping the minimum wage constraint, if someone earning the personal allowance as an annual salary all of which is paid into their private pension in the following 2 ways, they would have different tax treatments: Salary sacrifice - gross £12,570 into pension and considered inclusive of tax relief Relief at source -…

I'm self-employed and get a relatively small pension from the Local Government scheme. I've just been through the process of completing my tax return online with HMRC and during the process, as usual, I could see that they already knew the amount of my pension. The difference is that this time the end result was a tax…

Hello all I am 71 and just retiring at last . I have DB pensions. I am about to claim a deferred state pension. YES I know possibly not a good decision. So my choices are with state pension amount higher or lower amount equates to approx 600 per annum lower and 13500 lump sum I do not need the money being in a reasonably…