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It is about time they changed the law, requiring a FA to deal with transferring away a DB Scheme
In certain circumstances, as my own, below, it is about time they changed the law on requiring a FA to transfer out a DB scheme. It is scandalous what a FA will charge, for, basically, what is just a form filling exercise. I am looking to transfer my DB scheme to purchase a Lifetime Annuity. An Annuity with Standard Life,…
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Creating my own All-World Tracker with AVIVA
My pension has recently been transferred to AVIVA, and I now have more control over how it is invested than I did before. Ideally I would like to invest all of it in an all-world tracker based on something like the MSCI ACWI, which according to https://www.justetf.com/uk/how-to/msci-acwi-etfs.html is a combination of the…
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early retirement reduction factors CS pension scheme - different for active/deferred members?
I have a mix of Alpha and Nuvos pension - thinking of leaving the CS next year after 17 years. Checking my account and MyCSP doesn't have the retirement modeller on it any more? From memory it would be more advantageous for me to take Nuvos/Option A but I am still working things through. Are there any differences in the…
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Drawdown Query AJ Bell
Say you have £400,000.00 in your SIPP and you need £50,000.00 to pay off a debt, Mortgage etc. 50K represents 12.5% What do the remaining 87.5% balances look like in your SIPP control panel ? Will you be able to see a £150,000.00 crystallized balance which is taxable and an uncrystallized balance of £200,000.00 of which…
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To take or not to take? TFLS
Nearing early retirement in 18 months at 60. A huge part of my plan is the tax free lump sums across a small mix of DB and DC pensions - all added together projected over £200k but less than £268k. Plan is to take it all and would be used for home move / mortgage clearance in 18 months. Speculation is of course rife about…
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How to transfer private pension into a less volatile market
Hi,my pension has just recovered after 18 months basically back to where it was. Im looking to retire in the next 12 months at 58,I don't really want long term investment and I'm basically happy with what my pension has made,I plan to spend the money over a ten to 15 year period. Any ideas on placing my pension into…
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Pension worth more transferred
Hi I have a pension with Aviva, when I checked the value the fund it almost doubled if I were to transfer it out. My question is to where would I transfer it in order to double my money.? Thanks in ady
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Taking TFLS. Rest is invested?
Hi, I am taking entire TFLS next week. Does this mean the rest of 75% is considered as a drawdown pot? If yes then how does it different from current 100% invested? What are they key differences - please explain I am totally blank Thanks
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Tesco DB Pension not performing - transfer?
Hi. i have a pension with Tesco and due to retire in 7 years time. My Transfer Value has almost halved in 4 years and probably brought on by the £9Billion losses from LDI’s that surfaced in the news in 2023. It’s still underperforming in 2024. I have a SIPP currently performing with a very good return but would it be a…
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Removing TFLS and where to leave residual funds?
I'm just in the process of removing my remaining TFLS available to me from a SIPP and will then of consumed the full 268ish finally. My example is like 600K in SIPP and 100K TFLS still available. SIPP provided advised me when I pull out the 100K, then 300K will move in to drawdown and these funds will be crystallised. They…
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Transferring out of a defined benefit pension to an annuity. Getting charged £13000!
I want to transfer out of my defined benefit pension to an annuity because for my personal circumstances none of the supposed benefits actually benefit me. So I'm trying to find an IFA to do this and one IFA that has so far replied will charge 3% of the pension transfer value or about £12000 and £1000 for their advice. I…
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Help Please - Bonds Asset Allocation
I'm currently being really indecisive over how I will choose and allocate to Bonds in my Portfolio for retirement. Looking at ~35% allocation to bonds. Currently 7 years away from retirement, and expect to draw down from that pension for rest of my life, some potential for an annuity purchase during my lifetime but no…
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French pension - claiming for first time
Hello, I'm asking a question on behalf of my husband, who wants to claim his pension for working in France for a couple of years. When he goes into the 'Demander ma retraite' section on the L'assurance retraite.fr website, he is asked for his Social Security number and password. But he has no password. There is an option…
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USS - please tell me this is not as bad as it looks.
Clueless again here! Very grateful for any help. Husband and I are getting on top of pensions way too late in the day. Both USS. Husband earns £85,414 a year gross. We have not paid in any AVCs to date. He is about to turn 53. Current retirement projection at 66 is DB £36,357, lump sum £109,072, investment builder…
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Pension
Hello, wanted some advice, please. Person, 32, not paid into pension since about 2024, got own business from then. Has £2,615 Scottish widows £3,880 People's pension £1,773 Nest account. Should the amounts all be put into one? Which one would be the best? The minimum should be putting into pension monthly? Thank you for…
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SIPP - already using UFPLs - can I now use PCLS
Hi, I've taken lump sums (UFPLS) from my SIPP with AJ Bell a few times. Now considering, if I can, going into PCLS (Pension Commencement Lump Sum) i.e. taking 25% of the current SIPP total tax-free and leaving the 75% in the SIPP which will subject to tax when I withdraw. Is this legit with HMRC? Any advice gratefully…
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Switching from Employer Contribution Pension scheme to Salary Sacrifice
I have just received a letter informing me that the company is switching from employer contribution to a salary sacrifice pension scheme. We were previously contracted to contribute 5% and the company 4%. There has been no mention of the employer contribution being switched over to the new scheme. Are they obligated to…
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Can I really not move my pension without paying a Financial Adviser?
I have two pensions, the Standard Life fund hasn't performed well, so I intended to move it in with the Pru fund (M&G) ...but Pru won't accept the transfer unless it's done with a financial adviser, and that 10 minute email exchange is going to cost me about 3% of my fund, approaching £3K If I find an entirely new pension…
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Did I get it right this time?
A few weeks ago, I posted a very confused thread trying to figure out how much we should contribute to my husband's pension to make full use of the amount of tax relief he would get at 40%. My post was incredibly confused and contained almost none of the information that was needed. People were incredibly kind and patient…
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Tax on deferred pension lump sum?
I'm a UK taxpayer, aged 74, and have been deferring my state pension as I still work part time. I am now considering taking the accrued lump sum together with the standard weekly pension, rather than an increased weekly pension. The lump sum will be in the order of £100,000K. I currently pay tax at the standard rate of…
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Most recent: MSE NEWS: At or near State Pension age? Check NOW if you’re due missing Child Benefit credits by molerat
22 April at 3:08PM
