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Annual review should run down cash/bonds and move to 100% Equities?
I have been looking at my financial plan after updating the numbers in Voyant Go and Timeline for the new year. Things are looking pretty good in that even with the current overall investment mix which is about 60% equities, I had a 99% chance of success and even in the worst case would not run out of money until 80+ years…
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Rule of 85 / LGPS
Hello Newbie here. I have been in the West Midlands Pension Fund since early 2001, I am coming up to 25 years membership as an active member and I am thinking of leaving my job soon at the age of 57. I have been trying to understand the Rule of 85 and have put several questions to my pension fund through their online…
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Belgian Pension and Tax
Hello A while back, I had published a post regarding tax paid on my Belgian pension in both England and Belgium. Unfortunately I have lost track of it. I have been receiving my Belgian pension in June 2012 and live in England. It appears that there is a Protocol between the UK and Belgium where pensioners receiving a…
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AVCs and carry over
Hi all, I am in a position this year to max my pension contributions and to make up gaps by using carry forward from a prior year. I am however mindful that if you contribute over £60k attributable to a single year then you get penalised. I have a workplace DC scheme that contributes via salary sacrifice monthly. I also…
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Civil service classic pension
Hiya applied back in July to get my civil service pension early. I wanted it to be paid on my 58th birthday which was 30th Dec. I haven't received anything yet so rang the helpline and was told they will escalate my case but that I should have been sent a letter about the breakdown of my pension, which I have not. I got a…
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Paying income tax when taking money out of drawdown pension
I am retired and living off small pensions and savings, and a non tax payer, due to my income being below my tax code. Not eligible for state pension until 2030. I have taken my 25% tax free sums out of my pensions in previous years. I decided to take some money out of my drawdown pension, whilst keeping my total income…
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Bid vs offer and buy vs sell price
If I sell some units of an ETF,how do I estimate the price I will get? Example - I am looking at the current price of VHYL in Interactive Investor On my watchlist Bid 61.26 Offer 61.29 On the details page of the ETF Sell 61.205 Buy 61.25 (both values lower than the bid/offer pricing). Does bid/offer means something…
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NHS Redundancy, Tax and Pension
I am 61, taking NHS redundancy on 31 March 2026. I will get 24 months salary as my redundancy payment. Unfortunately, as I will have earned my full salary by then the redundancy payment will be taxed at 40%. Is it worth buying additional pension in the 2015 scheme now before the redundancy to reduce my tax bill which seems…
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Natwest Cushon - Willis Towers Watson (WTW) occupational pension
Hi. I have an occupational pension with Natwest Cushon. It rises the same rate as comparable to 1% interest. I was thinking of transferring it to a SIPP which pays 3% interest. However, Cushon is being bought by WTW; should I wait to see how WTW fairs? thank you for any help
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Another question about directors' pensions and the "wholly and exclusively" thing
When HMRC uses the expression "wholly and exclusively for the purposes of trade" in relation to pension contributions made to employees or directors of limited companies, what does it in fact mean? It clearly cannot mean "this contribution must make profits for the company". If that were the case every contribution would…
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Kids pensions
Hoping someone can help. We have already maxed out JISAs for our children and are now thinking about starting pensions for them to spreed their future benefits. I understand the principal and that £2800 can be added per year with tax relief. Really just wanted to ask some advice on where's good to start one for them, one…
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Emergency fund within pension advice
Hi folks, I plan to retire fairly soon and my pension will essentially be invested in two parts, one to facilitate growth and one as an "emergency fund" to call on when the growth part isn't performing well to guard against sequence of returns risk. I have no other savings. I plan to use flexible drawdown so both parts…
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37 years old - My current situation and savings/retirement plan
Hi, I wanted to make this post about the journey I've been on in the last 15 years and how throughout the journey there are many times where I've felt off-track and wondered when will be the day I can see that my saving/retirement planning is beginning to work for me. It is a long thread and is meant to help others who may…
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Using inheritance to boost retirement - please sense check my plan
Hi there, My husband and I recently inherited £550K. Some context: My husband is 51 and works as a freelance creative. He previously earned an average of £40-50K pa, but for the past 4 years he has been caring for his Mum (who died in Feb 2025, leaving us the inheritance), and his income fell. During this time his income…
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NHS 1995 pension - confused!
Third party question so sorry if its lacking in detail, my cousin has worked in NHS since 1988 and in a recent conversation it seems he thinks he can only take his pension without reduction when he is 65 (currently 58). I thought he would have three separate parts to his pension: 1988 - 2015 1995 scheme which is final…
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Tax Free Lump Sum Question
Hi I wonder if I could get the benefit of the forums wisdom around TFLS' Using hypothetical numbers: If i had 1 million in a SIPP and took £17430 of the £250000 TFLS available this year plus£12570 of of the crystalised pension as well (so an income of £30000 but no tax) I would leave £232570 TFLS available to take in…
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Retirement sense-check 2026 and bridging the gap
Time for my annual stocktake; I have a discussion with my financial advisor next week about bridging the 60 - 65 gap after proposed retirement at 60, but if anyone has any comments about where to focus my efforts for that, I'd be grateful for them. Age 55 Income £61K Plus £4-5K taxable interest this year (likely to…
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Doing it myself - Current portfolio
I’m starting to manage my crystallised SIPP, which is on the Fidelity platform. I’m 70, I have been drawing down £13,500 gross pa keeping my total income (from state pension and DB schemes, just under the 40% tax rate. My spouse, 74, has old state pension and a small DB pension totalling £12k pa. We have combined assets of…
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I've moved overseas - what to do with State Pension
Hi all, I know the info is probably somewhere on the main website or on this forum but I haven't had much luck finding it. I'm looking for advice. Here is my situation - As of 1st April 2025, I left the UK and haven't contributed to National Insurance. Before that I contributed for 14 of 17 years (since 2007-2008), missing…
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Mid-30s and starting to think about retirement
Hi! Don't let the username fool you, I joined this forum as a TwentySomethingGirl with a first mortgage, and 10/11 years later all that's happened is it's increased! Anyway, I'm now 35, husband is 36 and we're starting to be in a position to think about retiring early, at least earlier than state pension age, if it even…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
731 discussions
6.4K comments
Most recent: Voluntary National Insurance contributions by pinnks
15 January at 11:27PM
