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Thoughts on Delaying Claiming Civil Service Classic Pension
Hello, first post here, as I noticed some great advice on Civil Service pensions in the forum. I would be grateful for any thoughts or experience on my current dilemma as to when to claim my preserved civil service classic pension. Here's the situation: I turned 60 this year, so am eligible to claim my preserved Classic…
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Are you ReAssured?
This letter received from ReAssure following two online messages asking them to stop sending multiple copies of quarterly retirement account statements through the post:- We apologise that you have been receiving multiple statements. This is an automatic statement and we are unable to stop one without stopping both. We are…
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To defer DB pension or ..?
Hello I was made redundant this year, received a payoff and after a few months off have been looking for work which is proving more challenging than I thought it would be. I am in receipt of a DB pension of approx £10k per year - this could not be deferred. I could start to receive another DB pension of only approx £8.5k…
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Accessing funds
Hi, I work full time, age 72 and a half. I'm in the LGPS and recently enquired with them about taking a lump sum. They have said the only way to do this is retire, voluntary retirement, transfer to a different role on a lower grade or reduce my working hours by 40% which is equivalent to only working 3 days (this was only…
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Flexi Drawdown v UFPLS
Afternoon.. If my wife wishes to take £15k pa from her SIPP , does it matter if she uses flexi drawdown or UFPLS ? Is there any major benefit in using one over the other . Our initial thought was that we would use UFPLS for £15kpa (once a year but increasing with rpi), am I right in saying £3750 (25%) tax free element hits…
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Standard Life Pension - Lost group discount, now paying full fees
Hi all, I've been with my current employer for 9 years, and continued to contribute to the Group Flexible Retirement Plan with Standard Life I had been receiving a 0.45% discount this whole time and on a variety of SL Vanguard funds, but accidentally discovered the discount has recently gone and I'm paying the full 1%+…
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Using inheritance to boost retirement - please sense check my plan
Hi there, My husband and I recently inherited £550K. Some context: My husband is 51 and works as a freelance creative. He previously earned an average of £40-50K pa, but for the past 4 years he has been caring for his Mum (who died in Feb 2025, leaving us the inheritance), and his income fell. During this time his income…
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Whole salary into pension
Is this right? In the scenario below, I am aiming to get maximum tax relief with my 'post tax contribution'. Using example figures for ease. Salary: £30,000 Salary Sacrifice: £10,000 Taxed income: £20,000* Post tax contribution: £16,000 - government adds £4,000 (20% of £20k) - making a total of £20,000. So even though…
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Legacy DB Pension Being Removed – What Are Our Options?
Hi everyone, I’m hoping to get some independent views on a situation affecting a small group of long-serving employees. Our employer closed its Defined Benefit (DB) pension scheme to new entrants many years ago, with all new employees joining a Defined Contribution (DC) scheme instead. Existing members remained in the DB…
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Early Ill Health Retirement
Hi all I’m seeking some advice on whether I would qualify for early ill health retirement and whether it would be the best option for me. I’m 46 years of age and in March 2026 was diagnosed with a stage 3 brain tumour with a prognosis of between 5 and 7 years left to live. I’ve had surgery and radiotherapy and am due to…
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Does Increasing pension contributions reduce tax.
I'm hovering around the 40% tax bracket due to full time income and personal pension currently paying £12K per year. Through my employer I am paying into a pension which I will draw at the age of 68 (15 yrs time) at present my taxable allowance is on my pension and I am paying 20% income tax on my full time income. If I go…
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LGPS pre 2014
Hopefully someone will know a definitive answer to this question before my wife contacts her LGPS administrator and looks foolish. She is looking to retire in the next school year and has just received her annual statement from peninsula pensions. She joined the scheme in 2003 and has continuous membership. Her Final…
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Is what I am doing sensible? What would you do
Age 46, partner 41 We've hit and then exceeded our 'number'. We live a relatively modest lifestyle, no debt other than £167K mortgage on house worth 500K+ Our retirement provision is: A LISA each, combined value £100K+ in 100% passive global equities Partner is in LGPS (albeit low paid and only 3 years service to date) We…
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Inheritance Tax Gift Query
I'm considering giving my son a large lump son, for example £100,000, to hopefully live seven years and remove from inheritance tax. If I die within seven years passing on my whole estate to my wife, what happens to the gift ?: a. Nothing and can then be forgotten, estate has been passed onto my wife. b. Chargeable in some…
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Lump Sum Allowance and Death Benefit Allowance Certificate queries
I have a pension managed by Phoenix Life. The pension plan was originally with NPI. The pension was made up of four identical plans (just because that's the way it was set it up originally in order to provide for future flexibility in drawing pensions). In November 2020 (for each of all four plans) I took the 25% Pension…
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MPAA questions for retiree
Hi all Retired for 3 years now (best decision I have ever made). Question regarding the MPAA allowance. I cashed in some of my DC pensions to access the 25% cash and buy a fixed term annuity for the 8 years until I reach state pension age. This is working really well while my remaining pensions remain invested and continue…
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Paying income tax when taking money out of drawdown pension
I am retired and living off small pensions and savings, and a non tax payer, due to my income being below my tax code. Not eligible for state pension until 2030. I have taken my 25% tax free sums out of my pensions in previous years. I decided to take some money out of my drawdown pension, whilst keeping my total income…
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State Pension forecast only 33 full years retirement date 4 weeks off full year
Hello Forumites I've looked at past threads (and done google searches) but can't see anything that seems to apply to my situation and I see that there are some really knowledgeable Forumites who seem to know about this stuff so I'm posting in the hope that someone can help me unravel my situation. Apologies in advance for…
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Receiving pension
Hi to you all and would love some advice please How long should it take to receive your 25 percent tax free lump sum? Ive requested the lump sum and pension provider said they are waiting on my ex companies trustees to verify everything? My old company is Colgate-Palmolive i worked for and Cartwright are the company look…
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Inheritence into a SIPP
Hiya, I've recently inherited some funds. I'm in my 50s and have been SE my whole life. I have never contributed to a pension. I understand I can put some of it into a SIPP. I'm a 20% tax payer, and my SE income is less than £60K per year. Can I put £60K into the SIPP, or can I only put whatever my SE income is for this…
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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Most recent: Delays for P55 tax refund fro… by dobbers
28 August at 10:55AM
