-
DB pension
I have a DB pension that is payable from December at age 62. I have the option of an annual pension of £10615.56 or lump sum of £52170.36 & pension of £7825.56. I work part-time & will continue with this so I will not be dependent on my pension at this time. My state pension is payable at age 67. My intention is to take…
-
CS Classic Pension - considering partial retirement (anyone able to help with calculations?)
Hi, I am considering partial retirement, but I am struggling to calculate what my pension, lump sum and earnings will be. I have done some sums, but I have no idea how accurate they may be. Is there anyone on the forum that would be able to help? The calculator on MyCSP is known to be inaccurate, and wont let me calculate…
-
Pension transfer issue: Barclays & Vanguard
We have a bit of an issue regarding an ongoing pension transfer into a Vanguard SIPP. My wife is attempting to transfer a Barclays Afterwork pension which is defined as a 'Hybrid – Cash balance (Credit Account) and Defined Contribution (Investment Account)'. Vanguard contacted Barclays to confirm the scheme details.…
-
Pension pot withdrawal
Hi, My partner (67F) has a private pension pot of a bit over 30K. She has contacted her pension company (AON) asking to withdraw the funds to her bank account but she was told as the amount was over 30K she could not. Surely that can't be correct? What are the rules as I am also considering the same with a smaller pot. We…
-
Completely stuck with US pension direct deposit
I'm trying to sort this out for my step mom and I'm completely brain fried. So my step mom lives in the UK but she is a US citizen. She has a US passport and her husbands pension from United Steelworkers used to be paid via direct deposit into her Chase bank account. When she moved here permanently she closed her Chase…
-
Pensions funds and MMF
Hello all. I'm currently invested in Legal & General Multi-Index 5 Fund via Scottish Widows platform. The fund has increased recently more than I can ever remember. I'm not experienced in moving money between different funds, however I'm aware that stocks are high and id like to lock in some of the gains I've made. I was…
-
Switching Pension Investments
I recently changed jobs, I had my previous job for 18 years and built up a reasonable pension pot. I was lucky enough to be on a 10% matched employer contribution pension. The pot was invested in an L&G fund which hasn't been performing brilliantly but because of the monthly contributions has seen it grow. Fast forward to…
-
Taking State Pension and Continuing Employement
Hi My state pension date is approaching. I receive a Teachers' Pension, and I am currently working part-time. I don't want to defer my State Pension, but I want to continue working. Other than tax issues, are there any reasons why I couldn't take my State Pension, but continue working?
-
Teachers pension - phased retirement query
Hello All, I'm a member of the Teachers Pension Scheme which I joined at the start of my career. I turn 55 next April and I am taking phased retirement, sometimes called partial retirement, from 1st May (moving from 1.0fte to 0.6). As part of this phased retirement I will be taking 50% of my Final Salary (NPA60) pension…
-
Pension advisor prices?
Asked 2 pension adviors how much will it cost me to look at my pensions .I have 3 seperate pensions and i was shocked at the price they they were quoting me .The fact that they arrived both in 60k cars made me feel like i was getting stung .for what i was asking them to do .What would the average price be for this type of…
-
Civil service classic final pensionable earnings rules.
Hi all, where can I find the full rules around calculating final pensionable earnings for the classic scheme? I have read on the forum that when you preserve your pension/leave classic scheme they look at your earning when you leave and step back 91 days a total of 12 times to see which is the highest in cash terms but if…
-
Moved: State Pension and self assessment for capital gains tax.
This discussion has been moved.
-
Royal London asset allocation - life strategy equivalent or add bonds?
currently 100% in RLP worldwide. 5-6 years out from hopeful retirement, looking at either partial transfer out to a SIPP platform, or adjusting within RL portfolio to a more blended strategy. adding some bonds (80/20 or 70/30 maybe) or using a life strategy type single fund to do that for me. I’m tempted to stay inside RL…
-
Taking the last of my Tax Free Lump Sum
I am nearing the maximum TFLS I can take from my pensions, given the current allowance of £268,275. This is based on my own calculations from what I've already taken from various pensions (with different providers), but is it my responsibility to monitor this, or is does HMRC keep track of it too? If so, can I check with…
-
Deferred LGPS ill health pension
I’ve been approved for ill health retirement by a previous LG employer. They’ve sent my pension figures which are considerably lower than the yearly pension statement I received in August this year. Their letter states that pension increases haven’t been applied to my figures because I’m not 55 (I’m in my 40’s). However,…
-
Withdraw from sipp to fund ISA?
Irrespective of possible budget changes.. I have a decent DB which gets me close to 40% tax bracket and also have a 6 figure sipp in drawdown. My spending means I don’t have spare to continue to fund ISA so have been mulling over gradually withdrawing from sipp at 40% and putting into ISA. I don’t really need the money…
-
USS - 2025 valuation of DB?
Hi there. I have a USS pension. I’m no longer an active member and my last contributions were at the end of December 2024. I have a DB and a DC element in the scheme. Normally the DB amount is updated every year and is dated 31st March each year. This tends to happen in September and a statement is also added at this time.…
-
Pre-April 5 2025 Voluntary NI pension Topups
Hello everyone and thanks for having me on this site. I wish to share a query with people who registered with the DWP to top up their NI contributions since 2006 before the April 5 2025 deadline. I have just received an extensive email from DWP outlining the contributions I have to make. Fortunately I can make these…
-
State pension calculation and HMRC calculator
Hi, This is mostly idle curiosity, but I'm hoping someone here can help me understand the basis for the UK state pension calculation. When I go to the HMRC state pension calculator it tells me "Forecast if you contribute another 2 years before 5 April 2042 £230.25 a week". I'd qualify in 2042 based on current law (I'm 50).…
-
MyCSP, Capita and retirement modeller
Hi everyone, my wife and I (59 and 61 respectively) are both civil servants looking to take early retirement next May, but now I’m starting to get worried about they delays being caused by the MyCSP strikes and the proposed transfer to Capita. We’ll have another 5 years to wait before my State Pension kicks in, and we have…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
748 discussions
6.5K comments
Most recent: NI years are now full, existing OAP, when should I expect my monthly payments to reflect this? by Dazed_and_C0nfused
22 May at 1:38PM
