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Final salary pension frozen twice due to a mistake.
In 2007 my company froze my final salary pension only to tell me in 2010 that they hadn't closed it properly. The problem is after 2007 I changed my job in the company for a lower wage. When I asked for my transfer value it was £50000 lower than a person who had been there the same length of time as myself. The pension…
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5 Year Guarantee Pension Payment following Death
My husband had a private final salary pension which he took at the age of 60 in August 2023. He took the maximum 25% lump sum with reduced monthly pension payments. My husband sadly passed away in November 2023. His company originally wrote and told me that the 5 year guarantee applied and therefore my husband's estate…
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Aegon being obstructive when transferring pension
I work for a very large company, a global household name, that offered us an IFA, again from a very well known UK company Aegon have been very difficult to get my pensions from. They said I'd been flagged and I had to fill in a four page form I did this, and weeks on after several round robins they've now said I haven't…
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Double taxation agreement between UK and Cyprus
I am currently tax resident in Cyprus. I have a pension that I am taking at the moment but it's below the tax threshold in Cyprus. I didn't realise that my other pension pot could not be used to buy an annuity as I'm not resident in the UK, so I decided to take the money out in a lump sum. I was taxed on 75% of this by the…
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Where to get free, independent pension advice in my 40's
My question is as per the title really, I am in my mid 40's and my pension is starting to creep into my thoughts more and more, however I don't know where to go for advice? I found Pension Wise online, but it seems that their service is for the over 50's only and I can't seem to find anything else. Is it a case of either…
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Estimating the amount of annual allowance used in defined benefit pensions scheme
Hi, I'm trying to calculate how much of my annual pension allowance I'll use this year through my DB scheme. I'm using the tool provided here: Defined Benefit Pension input amount tool (mandg.com). The calculator returns a negative value, which I manually calculate to be - 7225. Is this likely to be correct and if so does…
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NI contributions record overoptimistic
Hi, I'm taking early retirement later this year. I've checked my NI contributions record for my state pension entitlement. It's showing that I've got more years contributions than years I've worked. It's showing contributions from age 16 but I didn't start work until I was 18. Not sure what's best to do? Should I contact…
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pension lost between two providers
Hi all Hopefully someone has had or heard of, this issue before and can help.I had a pension policy with L&G and they have sold their "book" covering the pensions to ReAssure in 2019. I have contacted both companies who say they do not have any details of my policy amount. ReAssure say as it was terminated before it got…
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Can I still get pension if company ceased trading?
I worked for a health care company for 5 years. Had pension with them. They ceased trading. Does that mean pension has vanished too?
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HL SIPP not receiving any tax relief
I’m new to personal pensions and I started a HL SIPP four months ago with regular £100 contributions. I thought that those would be topped up to £125 with basic rate tax relief, but my account balance is showing £400 give or take the investment going up or down in value. Have I got the wrong end of the stick and I have to…
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Itchy Trigger Finger
I plan to reitre in May 2025 when I will be 59. I have a DB pension that commences at age 65 and also have a SIPP with current value £370k. This SIPP will allow me to retire and be stop gap until DB and then State pension kick in . I am starting to get a little nervous that the value in my SIPP may tank (probably…
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Pass on assets (inheritance) while alive
One of my friend want to pass on his assets to his children while he is still alive! So, how does this type of inheritance work? [My friend want to spend his final days/years as a monk wandering places and with complete detachment from his current world. This would mean, even when he dies, it is unlikely his children will…
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Pension allowance from previous years
Hi, In 2023/24, i put a large lump sum into my DC pension, going over this year's £60k limit and therefore using up previous year's allowance. The question is which year does it use up first? To make it a simple example, let's say i put nothing in my pension in the 3 previous years and then put in £130k in 2023/24. Am i…
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Finding a Pension Administrator
I have drawn a blank trying to track down the administrators
of a pension that my elderly Mother-in-law paid into in the 70s/80s 1. She worked at ‘Tupperware’ 2. This later became ‘Dart Industries’ and this is
the name on her ‘Pension Plan’ certificate of Membership' 3. I went on the Government website to track the…
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Calculating missing weeks to reach full qualifying year of NI contributions 2024/2025?
Hello everyone, How do I calculate the missing weeks to reach a
full qualifying year of NI contributions 2024/2025? One
of the FAQs of "How to buy voluntary national insurance contributions (moneysavingexpert dot com)" explains it: "How
HMRC calculates partial years: HMRC subtracts what you've earnt over the year
(but only…
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Power of Attorney WWYD?
I'm single and the last of my line. My nearest relative is a second cousin, I get on well with her but she's 150 miles away and we're not really close. I have an up to date will but what should I do about Power of Attorney? I don't really have anyone I can ask to take that on for me. I worry if something happens to…
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Civil service pension scheme deceased member benefits
Can anyone help us under stand please? my sister died recently, she had been a civil servant for 38 years, and was still working. My niece will receive her member benefits but because of the 2015 reform (since found to be discriminatory on age) she has been given two options to choose from. option A is a smaller amount of…
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Comparing mortgage returns to investment returns if in Drawdown
Hi - I am just trying to think something through around whether to pay off my mortgage (or some of it). Rate is 3.54%. Generally I was comparing the investment returns I am making to the mortgage interest rate. However, if most of my growth investments are in a drawdown pot, and I expect withdrawals to be at a 20% tax…
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Class 3 voluntary contribution - easiest and quickest way to pay?
Having been contracted out for many years I'm thinking of paying one year of class 3 before my state pension which is due in Feb 2025. 2021/22 year will cost £800.80 and will then put me on the maximum I can get. Whats the easiest/quickest way to pay please?
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Pension Increase Exchange
Hi, my deferred DB pension is offering the above. Looking into it in a bit more detail it looks to me that my pre 1997 benefits would not receive % uplifts as per the scheme rules for a higher initial pension at commencement. I would still receive inflationary uplifts on the post 1997 pension built up. There is also the…
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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