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I want to go semi-retired - help me plan
This discussion was created from comments split from: Annuities versus Drawdown versus both.
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Question on State Pension Claim Form about Savings & Investments
My wife tried to start the process of claiming her state pension this week by completing a form on the government website. It asked her to state how much she has in savings and investments. Can anyone explain what relevance that has to claiming her pension? State pension isn't means tested, is it? Is this just a general…
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McCloud eligibility question
Hi. Is anyone able to assist with a McCloud query please? MyCSP hasn't provided a clear answer, only stating that if I qualify, I will be given the options of what I can do when the time comes. I haven't received my 2023/24 ABS, so I'm unable to check against it. I've worked and remained in the Civil Service continuously…
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National Insurance Contributions - Part years
I'm in my late forties and everything I read suggests I need 35 full years of NI contributions to qualify for a full state pension. My pension forecast says I need another 3 years to get the maximum and so far I have 32 years. Makes sense so far. However 2 of my contributing years are not full. On one of those years I had…
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Pension consolidation - Nest
I have £10K in a Nest pension as well as more funds in Scottish Widows & Aegon Retiready ones.I’m considering consolidating so transferring Nest to either of these as Nest seems to get poor press, especially taking 1.8% on contributions (which doesn’t apply for now). This would be paid across as cash. Is now a good time to…
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pension contribution
Can anyone confirm if I can pay into my pension pot the £2880 and get the tax relief added by the government? I have done it in previous years but now am receiving the basic state pension. Can I still do it?
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Paying in £2880 into SIPP question
Hi,My wife and me are considering paying in £2880 into her SIPP so to boost it up to £3600 after 20% tax added. She or myself doesn't have the cash, but I have the option of 0% credit card advance with 3.5% handling fee for 15 months. Can somebody clarify whether this would be against any HMRC rules, or is this a none…
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Worth buying back years - state pension
Can anyone please give me some advice on my state pension . I am 49 , Soletrader and have 18 years of full NI payment. My current forecast is You can get your State Pension on 20 March 2042 Your forecast is £221.20 a week, £961.83 a month, £11,541.90 a year" Estimate based on your National Insurance record up to 5 April…
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LGPS AVC Lump Sum Overshoot
Quick question. My good news is that it seems I am set to significantly overshoot my maximum tax free AVC lump sum that I can take when I retire and take my LGPS pension later this year. Am I right in thinking that I will simply pay income tax on this excess amount? My plan is take as much as possible now, while making…
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Defined benefit cash balance - do I need IFA?
I have a final salary pension from an old employer. In addition there’s a ‘Cash Balance’ element, I’m assured that although this is a DB there are no safeguarded elements to it like the Final Salary element has. The cash balance element is only growing at a maximum of 2.5% pa and so I’d like to move it to a scheme linked…
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Moving a DB pension
Hi I have an old very small db pension that I haven’t paid into for years. It’s under 30k . After reading a few posts on here am I right in thinking I need to transfer it to a stakeholder pension and then into a personal pension ? If that’s right is it easy to do ? Which companies do this ? My aim is to cash it all in as…
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LGPS pension
Does anyone have any experience of or know whether you can take a LGPS pension and still carry on working please? thanks
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New State Pension
My birth date is November 1951. At 66 I started receiving the basic state pension. I do qualify for the new State Pension but have probably at least 10 years contracted out when on a company scheme. I paid into National Insurance for over 40 years. Am I entitled to any increases? Can I still ask to buy back years? At 73,…
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National Insurance gaps and payments
On March 5th I paid for some of my National Insurance Gaps. I did this through the HMRC website. I received a receipt by email, with a reference number. It is now nearly two weeks later and my NI records have not been updated. The receipt says this should happen 3 to 5 days after payment. Should I be worried or is there…
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Personal Pension Providers
Hi, I'm looking for the above which gives me two things: 1. The ability to take 25% lump sum ( but leave the 75% invested ) 2. A Platform that allows me to manage the funds that I'm invested in. I was wondering if anyone knows of any of the "big ones" that do this. Thanks
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National Insurance gap
Hi Folks I've been through the gov uk national insurance checker. I have a one week gap in 2017-18 between claiming benefits during medical treatment and returning to work. The checker says; National Insurance credits: 51 weeks These may have been added to your record if you were
ill/disabled, unemployed, caring for…
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Additional Rate Tax Relief Calculation
Hi all, First post on the MSE Forum :) . Can someone help me understand the calculation for Additional Rate Tax Relief? I calculated it as 25% of Total Employee Contribution in my 23-24 Self Assessment however I've been told by a friend that this should in fact have been 25% of Total Gross Contribution (Employee + Employer…
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LGPS to LGPS Final Salary
Hi, I'm wondering if someone could give me a little advice? Situation, My salary was/is £48000 and I'm moving to a new location to be with my Fiancee, However the new salary will be a pay cut to £38000. I am 50 and have always been in the LGPS (GMPF) and have final salary benefits. The new role is in a different LGPS…
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TDG Pension.
Hi all i am trying to sort my pension out but have hit a brick wall. I was employed by the above company as a HGV Driver from 2000 to 2004 on a final salary pension. I understand that the company was sold some time ago to a French company and has been sold again to a company called XPO i have used the Gov site to trace a…
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Should I take drawdown or Annuity
I am 65 in July and am going on a three day week until my state pension kicks in in Nov 2026. I have a combined pension pot at the moment of £169000. I have lost £6000 in the last two weeks with the state of the current market. I know everyone is losing at the moment. I saw my financial advisor last week to organise…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
700 discussions
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Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
13 August at 7:57PM
