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Do pension contributions define what I get from an NHS pension?
I am in the NHS Scotland pension scheme. I have 2 jobs in different NHS health boards, one is taking contributions of 5.6% from me and the other is taking 7%. My understanding is that if this were all one job I would be contributing 11.2% to my pension. I was worried that I am not paying in enough and had a confusing…
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Lifesight select to invest cash only?
I am taking pension and in short term income fund, but with the stock market going nuts, I am thinking of doing a free choice investment and investing 90% in the cash part and 10% in bonds, the thinking is that cash is the least volatile. Can anyone tell me how to find out what the return has historically been for…
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Aviva pension query
We recently (last week) opened 2 Aviva sipp type pensions (to cut a long story short - I'm a non earner so put in £2,880 for the tax relief, wife put £6k in to avoid higher rate tax and losing child benefit). New to all this but I believe it's a good idea. So now have we lost all our money?? It appears not - wife is in…
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IWeb split from A J Bell, what to do?
I had a message this morning from my SIPP provider, IWEB, saying they will no longer be partnering with A J Bell for their SIPP administration and that I have the choice of staying with them (and having it managed by Embark Investment Services) or moving to A J Bell or another provider. I've never heard of Embark, and I'd…
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Claim for tax relief on private pension payments revelation
As a higher rate tax payer I have been sending letters to HMRC to claim the addtional TR for a good few years now. I did this to avoid having to fill out a tax return. However, I recently watched a youtube video from the excellent Tony Newbatt who talked about the relatively new HMRC portal to claim for the additional…
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Self Assessment - Married Allowance Transfer
I suspect this is totally the wrong forum on which to post this question, but not sure where is better - and I know there is huge knowledge on here so here goes. I have just entered mu 2024/2025 details into the HMRC Self Assessment site and looked at the calculation and can't see where the 10% of my wife's income tax…
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The Peoples Pension - Workplace Pension
I am having trouble accessing my pension money (now 66 Yrs) as the take your money button is not showing. The total is less then £5000 so I have to take the lot in one go but can't get access. Just wondering if anybody else had this problem and how it was resolved. Thanks.
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How long to "crystallize"?
So I signed the paperwork to move a pension into drawdown, to get the lump sum only, not taking any income. Was sent to transact Thurs morning. Nothings changed when I login, but there is some cash, just over 25%> Question is at what point do I get the 25%> Thurs value, Fridays,today's? How long does it usually take?
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Details of any adult financial dependant (on pension form)
Hi - I'm almost 58 and have worked for a high street bank since I was 18; so approaching 40 year contributions, which I think is the maximum. I'm able to take my full pension at 60 put will probably work on a few years, as my eldest son is in Uni and want to help support him. Maybe partial retirement or similar. My query…
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Pension Fund Choices - Waverton and Quilter
After my unfortunate dealings with SJP I am looking at moving the fund elesewhere. Two that I have been given are Waverton and Quilter Wealth Select 7. They look good on the face of it, but the Quilter fund seems to have a heck of a lot of funds under the one umbrella. Is this good? Once bitten, twice shy! Would either of…
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State Pension
My wife and I are both claiming state pension, I have 49 qualifying years but only need 35 years to get full pension. My wife has 27 qualifying years which makes hers short of 8 years to get the full amount, can I have 8 years from my 14 extra years transferred to my wife's pension.
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Private pension deductions help
Our late mother's private pension company failed to pay her pension for 18 months prior to her death. She unfortunately had dementia and didn't realise this. The company advised her next of kin, my brother, after her death. They then paid the outstanding amount but at an emergency tax rate. HMRC said we need the breakdown…
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Starting a pension for my Grown up kids without them knowing - is this legal?
Hi as per the title I would like to start SIPP's for my daughters but did not want to tell them I was doing this in case it stops them from doing something themselves. I am not going to be contributing much after an initial 5k starting pot so do not need to worry about being anywhere near hitting any max contribution…
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Nuvos Civil Service pension scheme
I worked for the Civil Service for 6 years as a lowly Admin Officer and believe I paid into what was the now defunct Nuvos scheme up until I left in 2013. I've recently logged into my pension dashboard but cannot see any annual benefit statements, page simply doesn't load. I'm 60 and trying to get to grips with my various…
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Pension Withdrawal - Due to less that a year of employment - Advice request?
I have been told that I and the rest of my co-workers are being made redundant. I have been with the company 9 months tomorrow. They have given me two months notice and I am aware I don't get any redundancy as I've been here under two years. But my query is my pension. I have been in it since the first contribution in…
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Help needed with NHS pension
Hi, please can anyone give me some advice re NHS pension. I have looked online and read a few articles but feel like Im even more confused. I am unable to speak to the Pensions people in my trust because they are too busy and have just sent me online links when I asked for advice and help. I was 60 last year and started my…
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Taking a tax-free lump sum and a reduced pension
I am about to take my defined benefits pension (aged 60) and am considering taking a tax-free lump sum of £230k which would mean my annual pension would be reduced from £69k to £56k. My wife doesn't work, so if I do take the lump sum, I might put it into a fixed interest savings account or bond (for a year at least) which…
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Aviva pension contribution . Which tax year?
I sent funds to my Aviva pension on Fri night, 4 April and my bank statement shows that they were sent by faster payments (and so should have got there within a few hours) I subsequently sent Aviva my instructions for allocating the money to my funds on Sat, 5 April. But Aviva say the "acceptance date" is Mon, 7…
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How to fill out hmrc pension tax relief claim
Hi all. I'm a higher rate taxpayer. I already have an employer pension scheme which applies a net contribution scheme (so 40% tax relief is directly applied). I've max my contributions out for this scheme. In 24/25 I also began paying into a seperate private pension which is only relief at source (20%) I'd like to claim…
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Explain Gilts/Bonds to me like I am 5 years old please?
I will freely admit to knowing very little about this subject but have seen it mentioned numerous times on this board. My understanding is you buy a bond at a set price, the bond pays an annual coupon (%) and the money is repaid at the end of the term at a normal face value of £100 per bond. As an example looking at…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
715 discussions
6.2K comments
Most recent: When paying for NI Top-up, do you have to pay the years separately or in one? by jem16
13 October at 12:50PM
