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State pension
Hi! Husband applied for his state pension and received a letter in January stating that he would get paid on April 11 for the 2 weeks after his birthday in march and then every 4 weeks from may 9 . Then today he received another letter stating increase to your state pension amount. This letter doesn’t mention the 2 weeks…
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Pension Advice
Ive just check my pension forecast. I need some guidance please. It says i can get my pension from July 2045. My forecast is the full £221.20. It says 'forecast if you contribute another 11 years before 5th april 2045 is £221.20.' My years 2010 to 2011 and 2017 to 2018 say year not full. When i click on those it says 'we…
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Early Retirement - Novus Pension
I’m hoping to retire early at 53 (currently 42). I’ve work for the MoD since 2009 and have part Nuvos (part Alpha) pension. I would like to take my Nuvos pension early at 55. My pension statement says I can take this early from 55 but my question is can this date change (in line with state pension age)? Or is Nuvos a…
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Can you transfer a L&G and Scottish Widow pension which was transfered into an NHS pension back out
Hello, I' m asking if anyone has any success in transferring money from an NHS pension into a SASS? 10 years ago I consolidated my previous employers pensions into the nhs, one was at Scottish Widow and the other was an L&G pension into the NHS when i moved employers. I have now left the NHS i cannt add into the pension…
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Pension advice needed please (SERPs)
I'm currently 59 (my pension age is 67) and don't have any private pensions, but I did opt out of SERPs in 1988 after advice and not knowing much about it at the time (even though I did tell the agent my job wasn't full-time nor permanent at that time), and over the years till SERPs was ended I was in and out of low paid…
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Small SIPP?
I'm 55 in May, I don't work but have income from property and pay a small amount of basic rate tax. I understand I can put a small amount of cash into a pension to claim tax relief (this would be my main reason for doing it, not for any great returns). Is this a good idea and who should I use? I'd like a low risk fit and…
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Pension when unemployed. Is it worth paying into an SIPP and how much?
Hi I have family paying into my existing Nest pension but I hear a) this plan is expensive b)any pension income will reduce the amount of UC my partner and I receive at retirement age. I'd like to know how much I need to pay per month to ensure my pension income is worth losing UC money per month so maybe an annual income…
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CSP classic and Alpha early retirement actuarial reduction
Hi All im hoping to take my pension at 57 this October after 24 yrs reckonable service - does the retirement remodeller figures take into account actuarial reduction or will the estimate it gives me for 58 years be further reduced ? As you can probably gather I’m not the most clued up on the subject , many thanks for any…
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How do you pay tax when taking a pension income?
Maybe a basic question but I'm gearing myself up for retirement in a couple of years so forgive my lack of knowledge. My question is what is the mechanism for paying tax when taking pension income? Looking online it seems HMRC give your pension provider a tax code and tax gets deducted at source so no need to complete a SA…
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Retirement looming - Ready to sell up - Downsize or rent?
Hi all, Looking to retire by the end of the year! I`m single, have no dependents and have about £150000 after the sale of my house and a state pension to live off. I'm a man of modest means and have no medical problems at the moment, so I would like 15 years of retirement. 10K per annum + pension + interest should be…
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NHS Pension
Hi I am due to get my pension in August age 55. I was made redundant last August so maintain my SCS. My question is, is it worth working part time or will this affect my pension eg TAX. I am currently not working, as going back to nhs would affect the age i could retire.
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Cash Pot?
Hi all, I have seen a few references to holding a 'cash' pot as part of your pension portfolio. The idea being that you draw from your cash pot in market downturn rather than take from your investment pot. I'm still not sure if I agree with this approach or not because when the markets are up then you have less investment…
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Changes in Budget to pensions
Do you have any general advice regarding taking my private pension early to avoid the tax changes regarding the tax on lump sums. I am curently 63 and I was going to take my pension at the age of 65 or 66 but is it prudent to take the pension early to avoid loosing 25% in tax of the lump sum?
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Investment linked annuities
Are these still available?
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Rubbish Pension
My hubby is 54 and just getting round to looking at his pension. Silly I know and should have had the sense to do this years ago however we are doing it now. He has worked since age 17 and paid into a few pensions over the years. However when looking at the valuations his pension pot is only about 40k. Scary. Thinking of…
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LGPS Flexible Retirement Pack
I have 2 issues related to this on behalf my wife. I suspect that it may need someone with specialist knowledge of the LGPS (Silvertabby :wink: ) but any thoughts would be most welcome. I’ve had previous questions/threads as Mrs Saucer has moved towards LGPS flexible retirement. She now has the pack and is nearly ready to…
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Deferred pension with annual CPI increases - any reason not to take now?
My wife has a deferred pension with BP which becomes accessible when she turns 60 in May. One of the benefits of the scheme is that pension payments are increased in line with CPI (up to 5%). The fund is worth around £60k. Our instinct is to take the full 25% TFLS and pension from May, rather than deferring or transferring…
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Telegraph annuity figures. Unbelievable?
I read an article in yesterday’s Telegraph by Sam Brodbeck concerning the advantages of taking a pension annuity. He says you can now get an annuity of £7,750 on a pot of £100,000, increasing each year by inflation and including a spouse guarantee. This seems very good to me. Does anyone know where he got these figures…
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PensionBee and similar services, retirement planning
Hi all, BACKGROUND I'm 38 and worked all my life. I have a high salary but no real wealth (renting, leasing my car etc). Have been doing auto enrollment since it started and had company provided pensions for most employers for the last 15 - 18 years or so, all with various pension companies. (Scottish Widows, Aviva, Royal…
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Paying additional funds into pension this month.
I'm currently a higher tax rate payer - about £60k PA before tax. I pay into a workplace pension - civil service. I also have a Nest Pension - if I make a payment into this Nest automatically get me the 20% tax relief - but can I get an extra 20% ( to make up to 40% ) , and how do I do that, and also how much can I pay in?…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
700 discussions
6.1K comments
Most recent: How long before your state pension increase actually comes through? by molerat
12 August at 2:31PM
