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Newbie question - Tax efficient Drawdown
Hi, I've been trying to plan ahead for near future retiral for my wife and I Newbie Question - Are there any reasons why I would not take a 25% Tax free Lump Sum from Pension A immediately? I understand that any future withdrawals from that Pension would be subject to 25% income tax. Year 1 - My intention would be to…
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Pension Drawdown Tax Refund
Hi, My partner is taking 100% of a small pension fund and understands he will be taxed at 40% on 75% of the fund. If he is entitled to any tax refund, will he have to wait until April 2026 to claim this back or can he try and claim this back from HMRC earlier? He earns £25,396.00 per year. Many thanks.
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Stepped Pension
HiI had to
stop work due to ill health and am due to take a small BAe pension this year
aged 65. The pension has a stepped option which makes sense for me because my
analysis shows taking the stepped option pays the most over 12 years which is
probably all I have got. The figures: Basic
pension £5000 Stepped
pension £12000…
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Seeking Advise- Aviva lost our pension fund 😒
Hi Group members We are dealing with an issue with Aviva , they have lost our pension fund. apparently it was merged with someone else’s pension fund - Aviva haven’t been able to retrieve our funds yet Details * My husband bought a personal pension plan when he got his first job with Friends provident. Recently, we decided…
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WWYD - taking 25% tax free lump sum earlier than originally planned to pay school fees...
Me: 53, 50% share in Ltd company, on track for full state pension, DC pension 120k Hubby: 56, 50% share in Ltd company, already has required years for full state pension, DC pension 160k, DB pension approx. 15k per annum from aged 65. Assets: no mortgage on property 1, approx. £1million; no mortgage on "property 2",…
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Pension transfer transparency
Firstly, please don't reply if you have a post count greater than 10,000 (dunstonh excepted of course!) or within the first hour of this being posted. So, I transferred my pension out of Aptia. I was a bit unlucky as the funds were sold at the recent big dip in world markets due to Trump's "beautiful" tarrifs. Prior to the…
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Pension interactive investor and TRS
Hello, I am considering opening and transfering a pension to interactive investor. Would I need to register it under the trust registration service (TRS) for this new pension with interactive investor Thank you very much.
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MyCSP pre-retirement webinar - worth £70?
Being a year or so off early retirement I thought it would be helpful to find out more about some of the processes involved in claiming my pension (a civil service Alpha pension) - particularly basics like how much notice to give. The only relevant training course I’ve found is a MyCSP webinar which costs £70. I am happy I…
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Downsize to release funds for retirement
Just wondering, who has or has planned to downsize to fund retirement?
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Sheffield Training and Enterprise Council - missing pension
Does anyone know anything about the TECs and what happened to the pensions after they transferred to Learning and Skills Council. I cant find anything that exists. On the pension finder Gov.uk the company doesnt even exist. My pension is lost?
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Changes to tax free element of SIPP
Hi all, Rumours are that the chancellor may change the rules on pension tax, e.g. reduce the £268k total amount or change the 25% tax free to something smaller. Do you think existing pensions (I no longer make contributions) could be affected. It seems unlikely, but I am a bit nervous and considering moving chunks into…
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High risk, high reward: A pauper's dream of early retirement.
As regulars on this forum will know, I am trying to retire early while working part time, with a current salary of about £21.5K. Five years ago (after the loss of a loved one) I started to take my life and my finances a bit more seriously. I was 43 at the time, with a combined pension and ISA of £73.5k. I decided to make…
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National Insurance voluntary contributions
Just wanted to add to this topic by expressing my frustration with DWP and HMRC. I paid £795 on 3rd March for 20/21. My NI record is showing fully paid but I have still not received my increased pension after 12 weeks. Repeated phone calls to both departments have not got a satisfactory answer. I've made a formal written…
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SIPP Issue - Paid more than I should into it
I have a SIPP and I paid into it on the 1st April, not realising the new financial year started on a Monday and not the first of April. What will be the fallout for having done so? I think it's too late to take it out and put it back in. I didn't work for last year and I realised I have overpaid by about £750 by putting it…
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Moving abroad - what actions required on UK private pension
Hi, We are moving to France in a few months. My partner has a private pension with Aegon, and we have been advised he should take the 25% tax free lump sum before we leave, so as to not lose the tax free element he can get as a UK resident. To do this, we need to change provider as the current product doesn't facilitate…
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Retirement calculator NHS pension
Hi I semi retired 2 years ago, small NHS pension (1995 scheme) but ideally want to fully retire by 63. Currently still working paying into 2015 Scheme which I will likely take early (with reduction) at 65 rather than 67 and also have some savings. So it's the million pound question can I afford to go? My main concern being…
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LEAP
I was just reading about LEAP where if you had children in the 90s you possibly won't have had NI contributions applied to your account. The DWP have already paid out to many and have sent out letters with many more to come. Do we just sit and wait for a letter if we qualify? Can we contact them and who? Anyone have any…
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NHS Pension after Nominal Pension Age
Hello I had a question about NHS pensions. I am 70 and have already reached NPA (nominal pension age). In addition, I am leaving my current post at the NHS in August. I am uncertain if I will continue to work in an NHS position at this point. I have been employed at the NHS for around 10 months. I have been told I am…
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Pension Credit
I wish to declutter our home, as I receive pension credit do I have to inform the DWP if I sell off my own belongings. Particularly if my wife would probably wish to buy new things with the money 😄
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NHS pension P60 - have you received it?
NHSBSA say P60s are usually sent out by the end of May. OH's hasn't arrived yet - has yours?
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
721 discussions
6.3K comments
Most recent: Delays for P55 tax refund from HMRC by leosayer
21 November at 11:44AM
