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Is it worth taking this lump sum ?
On one of my pension statements the below figures are quoted regarding a lump sum . Does this seem a good deal or not please . £8576 a year with no lump sum £6264 a year with a lump sum of £42884 I’m not looking to retire yet but just curious as to what is or isn’t a good rate . This is at age 65 and basic rate tax payer…
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Asda Pension
Trying to sort out my various pensions. When I was a student I worked part time in Asda for about 6 years and am sure i paid into a pension. However that was about 25 years ago! Is there any point in trying to track this pension down? Will ut have any value? And also where do I start, do I call up Asda and ask about it…
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Classic CS Pension & Abatement
Would be grateful for any advice re abatement from the very knowledgeable people on here. I can't seem to find the answers elsewhere. I have been a member of Classic since 1988, then transferred to Alpha. I am in the rare situation of my highest earnings being in the past (the highest being November 2016). From December…
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Pension arrears
I retired January 2021 with a small Teachers' pension. I have today received notification from Teachers' Pensions that they have been advised by West Sussex County Council that I underpaid my additional pension between 2019 and 2020. The underpayment is £198.87 and compound interest is £64.61. Do I have any option other…
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Moving house to be mortgage free in future
So I’m moving house but I decided I hope if I ever move again I won’t need a mortgage. I aim to semi retire so not sure if this would affect a move if I did 16 hours but my partner was full time? So I reckon I could have cleared off my current 2 bed house if I stayed here but I am adding a larger mortgage. My current place…
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Will I get a basic pension?
Hi all. If someone's worked part time all their life and hasn't been taxed (due to their income being below the threshold), will they get a pension when they reach retirement age? I can't find anything specific to that situation. Also bear in mind there's no benefits claimed either during that working life. The only income…
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State Pension protected payment Triple Lock
I have just received my updated pension letter for April 2025 and noticed that the protected payment portion of my pension is only increasing by 1.7%. Does anyone know how this 1.7% is calculated and why the full amount of the pension is not protected by the triple lock? Thanks Just realised that the 1.7% is the CP so now…
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spouse benefits on an annuity
I am sole executor for my father-in-law's will. I'm having real angst with two insurers on the matter of spouse benefits - in both cases 100% - and the payments were going into a joint account. Both have stopped paying my mother -in-law - both have done so without writing first. Both are demanding original birth and…
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Pension Advice
Hoping for some advice - sorry if I have not posted in the correct place! I have about £20k saved in Prudential - not paid anything in for over 20 years and about £5K from an employer (left 5 years ago). Is it really worth me trying to find a pension investment for this rather small amount or would I be best withdrawing it…
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NHS Retire and Return Death in service
Not even totally sure if this is the right board for this, but I was asked to help a friend whose wife passed away recently. Any NHS experts here? She was an NHS employee who had been working in the NHS for over 30 years. In 2022 she took her benefits under the 1995 section and then immediately returned to work part time.…
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Salary Sacrifice quandary’s
Hi, I am just having thoughts about a salary sacrifice scheme that is being introduced by my company and if it is worth taking in my circumstances. I pay tax in the 40% bracket, and my company pays pension at 8% and I contribute at 4% on gross salary. I make full use of the tax relief on pension contributions up to £60,000…
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Parents Pension short
Hi My Mothers state pension is £849.08 4 weekly (£212.27/week) I understand state pension is £221.20 / week. We have checked her NI record and it says "Full year" next to every year between 75/76 and 09/10. (35 years exactly). We phoned the Pension Service and asked and they said it "should be full state pension" but…
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Question: Annual Allowance & Annual Input Allowance
Hi. I may decide to retire in the next 12 months. My question is around how to maximise investment into my 2024/25 SIPP, but making sure not to exceed my Annual Allowance. I am not retired, but am contributing to a public sector Defined Benefit pension and also paying into an occupational AVC through work every month as a…
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Any NHS / Local authority DB Pension experts?
Earlier this year my wife moved employer from Local authority to nhs. She'd been with the local authority since 2001. We enquired about moving her defined benefit pension to the nhs. We've recently been given a transfer value. Neither of us are particularly clued up about the benefits and potential pitfalls of proceeding…
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Nearing retirement - work placed DC mitigation/de-risk
Is there an option to de-risk any significant drops to a pension in the final months before accessing? For context and example, although I do appreciate funds have short term volatility - I see swings of a few hundred a day on a modest pot. I have a target date fund (L&G) which I contributed £2k to two weeks ago, with £1k…
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St James's Place - Unused Ongoing Advice Charges (OAC)?
Hi All, My TL;DR question is: - What constitutes Ongoing Advice to allow SJP to charge their OAC fee? The context to this question is below: - I have a Retirement Account with SJP through my then-employer's workplace pension scheme (opened in 2020). I have had no contact or advice from SJP since then, aside from an annual…
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New pension and not working
Hello Everyone I was wondering if you can help with the following. I am 50 and not currently employed. What are my options if I
wish to pay into a pension. 1. I believe you are entitled to pay £2880 in a
pension and the government will top up 25%. If so do I pay the full amount and
have to apply for a refund or does the…
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confused about contracted out pensions?
hi, my wife and i are begining to think about getting pensions into line and are getting easily confused, can you help? We have checked our state pension on the Govt Gateway and our forecast states we will get our full entitlement, but further down it states that for some years our pension was contracted out which might…
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NHS ill health pension - annual allowance
Hi all Very long time lurker and fired up the old MSE account in our time of need! Wife taking ill health NHS pension tier 2- confirmed She hasn’t got HMRC SIC test, is unlikely to get at appeal and unsure if wants it anyway So due to tier 2 enhancement , This looks like it has put her over annual allowance - I’ve…
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Missing NI years and the Protected Payment - just reviewing...
My wife and I are both retired, and I'm reviewing our State Pension entitlements because of the looming deadline for paying for missing National Insurance years. She has payable gaps shown in her online account (although not all years are detailed there) but she is receiving the full pension thanks to voluntary payments…
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
