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Pension - Moving to Australia
I am really hoping for some help and guidance please. I am 47 years old and moving to Adelaide in 6 months. I lived in Adelaide for 5 years moved back to the UK 5 years ago. I was born in the UK. I intend on moving back for good. I am concerned what I need to do regarding my state pension I am missing NI contributions for…
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Increasing salary sacrifice to max but above NMW
I am looking to increase my SS into my pension to the maximum but understand I need to keep my salary above the NMW. I have calculated NMW from April 25 £12,21 x 37.5 x52 at £23809. First is that corrrect? Next I also contribute £100 pcm into the works save as you earn share scheme. It’s a three year contract to the buy…
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Between 'Buy In' and 'Buy Out' stage....
does a deferred member of a Defined Benefits pension scheme usually have rights to a statement/ongoing statements during this stage? Before a 2023 Buy In was secured, the scheme Trustee/Administrators provided Tri-ennial statements, with the next one due in 2024. Buy in has not yet reached full Buy out status (taking a bit…
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Demand for Class 2 NI contribution from 1988
I've been self-employed for a long time and have always completed my self assessment on time. I've paid any taxes due on time too and even had several refunds. This week I received a demand for Class 2 NI Contributions from April 1988. It's only for 6 quid, but I'm confused. During several conversations over the years with…
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Changing working hours and State Pension
Ok, so my pension forecast says I am entitled to full state pension when I finally get there in 2037. I know I can't make the pension any better. My question is this: I am thinking of reducing my working hours (I'm 55 this year and have a lump sum I can draw on), but this will likely mean me not paying any NI contributions…
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Government pensions advice needed
Hello, can anyone help..... I work for the local authority and am soon to be TUPE'd over to a private health care company on 1st April. I have been paying into the LGPS for 8 years and now have the option to remain in it or to switch to the NHS pension. I understand that they are both good options but I am unsure whether…
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Retirement for someone with no dependents
Hi - as per the title, I am in a situation where I have no dependents and therefore do not need to have any money or property when I eventually pass away. I'm 49, above average salary, own my own home, a private pension, work pension and some savings. I have come to the realisation that potentially it is no longer…
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Drawdown options
My husband and I have spent weeks talking and emailing with Aviva pensions but get told something different every time, hence would be grateful for any further thoughts here. My husband took a drawdown Fund 3 which is supposed to be invested in a diverse portfolio, but on checking last week, it's invested in bonds at 99%…
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How much pension to move into drawdown
On behalf of my husband. He has a SIPP of £1,200,000 (it was of course more a couple of weeks thank you Donald and Elon!) He retires today before state pension age. We do want the £268K to pay down our mortgage. My question is, does he move the whole amount into drawdown or just the £1,073K to generate the £268K? Are there…
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Additional private pension
I am 61 - drawing ill health retirement pensions from 2 different government employersMy State Pension is on track for full payout in 5 years time - my SP contributions are being made up by DWP.Is it worth (or even possible) for me to invest additional funds now - in an additional private pension - in order to gain from…
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last chance to top up DC
I finished completely last September from part time and am thinking of topping up my DC before end of the tax year as will be my last chance. Want to check a few bits from the knowledgeable people on here before I do so to check my own figure. Figures are, pension gross contribution last tax year 23/24 £27K gross inc…
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Ratio
I have been thinking how to replace my current income (btl) as I have 2 years savings and 10 years to invest. All my current liquid assets are in ISA, and I need an income of at least £15K p/a , I actually need £40K p/a Currently I have 58% in S&S ISA and 42% in cash ISA and will be transferring my S&S ISA to iweb and to…
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State Pension
Hello I have been getting the state pension for 4 years every 4 weeks. Every year they have stopped my pension and I have to fill out a Life Certificate to get restarted. Last February they stopped it and I sent the form. They paid me March, April and May and then stopped it again. One person sent me an email and said they…
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Anyone had success in obtaining free NI Contributions back dated
Hi, I was working for the Council during 1 year that I am short on 39 weeks out of 52 during 2010. I did had a couple of weeks sickness but not 39 weeks. In 2013 I went to college so I also need to claim 43 weeks NI for that year. Any advice and tips on how to obtain free back dated NI from DWP or HRMC? Who’s the best to…
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Hello!/Grey Parrot/Midlands IFA
Hello all, I’m new here, I’m looking for a bit of advice at what feels like a bit of a financial crossroads in my life. I’m 59 1/2, still working part time, and I have a partner who’s about to retire. She’s well provided for with a LGP and state pension. I have a number of DC pensions from previous employment totalling…
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National Insurance gaps due to working holiday visa
Hey everyone. I was on a WHV in Australia from Jan 2013-December 2014, some part time work done over there. I've checked my pension forecast and I can claim my pension in 2051, it states that my forecast is £221.20 a week, £961.83 a month, £11,541.90 a year. It also states that the estimate based on my National Insurance…
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Teachers Pension
Hi everyone, I wonder if anyone has had any luck leaving the teachers pension scheme? I left teaching last year and now have a new job and wish to transfer what I have into the new scheme with my new job. When I contacted Teachers Pensions, they implied that I can only withdraw my pension if I am moving to another public…
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IFA trying to sell me on inheritance tax avoidance strategy for my mother (who has dementia)
I've been talking to an IFA about an immediate-needs annuity to cover care costs for my mother (I have power of attorney), but the IFA is suggesting another meeting to go over my mothers savings and property value and is saying they can 'protect it' from inheritance tax without my mother needing to give anything away. I…
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Enduring POA (Northern Ireland)
Has anyone any experience of setting up Enduring POAs in Northern Ireland? Reading up on some of the blurb it seems like you don't have to register them straight away (the way you are recommended to do for the rest of GB) - you just do this when you actually need to use them. So I wonder whether it might be worthwhile…
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TFLS at £268275 + adding extra when retired
Hi all, When I come to retirement, is there any advantages keeping my TFLS in my pension wrapper , if I'm at the £268275 max, as it won't grow anymore? And also, is there any point adding the extra £2880 to my pension when retired , if I take it back at 20%, with no growth ? Thanks
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
13 August at 7:57PM
