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Tax Refund Query
I took an additional lunp sum out of my main pension (which I take a monthly payment from) in December 2025 which triggered a large tax charge. I submitted a P55 and have now got a new cumulative code for this pension. The HMRC letter said any adjustments would be via PAYE. However I now have only 2 months left in the tax…
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St. James' Place - Pensions - Am I stupid for being concerned?
I’m looking for opinions on whether my concerns are valid or not as I’m not experienced in pensions or investments. An advisor from St. James’ Place contacted me on LinkedIn, mentioned that they work with ‘my colleagues’ and offered a free initial review into whether they can help with my financial planning. For context,…
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Is scheme specific lump sum protection *additional* to the LSA?
I have 2 pensions, neither accessed yet - the older one has "protected rights" of some kind on it which I believe is the same as "scheme specific lump sum protection", namely at some point in the distant past I became entitled to take more than 25% tax free from that pension and those rights still exist, potentially. I've…
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Vanguard - Moving funds to drawdown and change to II
I have posted about this before last year, but I was given some incorrect information by Vanguard then. I usually keep 2-3 years money in a STMMF which I would like to use for drawdown, in case of market fluctuations. When you go through the drawdown process you specify which funds or cash to move the money to, but you…
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DWP forecast says 34 years out of 35 is only pennies less per week than full state pension.
My wife spoke to DWP today to discuss her pension forecast and was told that if she only qualifies for 34 out of the 35 years, her forecast says that although she will not receive a full state pension, the amount will only be 16p less per week. I asked why and was just told that's what the forecast says and it is different…
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Work pension withdrawal
I am planning ahead for my pension withdrawal. As I hope to get back into paid employment for the next ten years, which will likely use up my basic personal tax allowance. I currently have approximately £100,000 in a workplace pension with Scottish Widows from a former employer. While I do not need the funds immediately, I…
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Can I withdraw tax free cash from my pension and transfer to my wife's pension?
Hi all, any general feedback is appreciated. My wife (56) is retiring this tax year (end of March 2026). She has paid ~£3K into her pension this year, leaving around ~£57K of her allowance available. I am also 56. I have a pension pot, but I have not taken anything from it yet. We are trying to achieve an income from her…
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Workplace Pension Question
Morning All My company have a Lifesight managed pension scheme provider. I pay in 8% of my salary and the company match with 12.5% I earn £57300 and I'm slightly confused on the 40% tax sketch. If I increase my contributions to take my salary down to basic rate at £50270 will I benefit by not paying tax at Higher rate?
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My second annuity payment due is lower than expected
Hi all, I had a small pension and decided to get an annuity with L&G. I received the first payment yesterday with the amount I was expecting of £337. Anyway, the next amount due to be paid is showing online as £283 which is £53 less than the first payment. It also says it's estimated. I also have another small pension…
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Moving pension from st James place.
Hello I have a pension with St James place and I was thinking of taking control of it myself. I was looking at putting it in a SIPP someone like Aj bell.Was wondering if anybody had done the same thing with their pension.
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PPF pension lost on death? Was advice in life misleading?
TL:DR - Mum passed away at 61, left a pension with PPF. Seems she was already eligible for various options including a £12K lump sum. PPF tell me we have no claim to this upon mums passing. Anything I can do? I also think they've provided misleading financial information discussed below. Looking for any help, guidance and…
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Alpha added pension 2026-27 via monthly salary but retiring during the year
Hi, quick question to do with early retirement. If I go for early retirement in 2026-27 taking reduced Classic and Alpha/added pension, what happens to my Alpha added pension monthly contributions via salary for 26-27? The application deadline is 6/3/26 for contributions to start on 1/4/26 and I still want to do this to…
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Advantages of taking civil service pension before NPA?
Sorry if this is a dithering question but I often read that actuarial reduction for taking Classic before 60, and Alpha before 67 (SPA), is a big hit (4-5% reduction per year before NPA). Therefore many people defer taking them until NPA, using ISAs etc to bridge the gap. Coming up to 56 and am considering the reduction…
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Making a McCloud Remedy choice with Capita
Hello I
am a Civil Service pensioner with a McCloud Remedy Immediate Choice
Remediable Service Statement (RSS) from MyCSP that I can’t
do anything about now
that pensions administration has passed to
Capita. I was unable to read
or understand the RSS until recently because of health scares (and I still
have an eyesight…
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Which draw down pension
hi, I`m self employed and 4 years away from state pension age, 67, and would like to take my Reassure pension pot and open a draw down pension, which some firms are calling Sipps. I`ve spoken to a couple of financial advisers, but it seems like their fees can vary quite a lot, one even asking for 4.5% of my pot, which I…
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SIPP vs ISA balance
Hi, [First world problem post alert….] For a top rate taxpayer at what point do people think its worth focusing on ISAs at the expense of the SIPP. Generally I think SIPP is no brainer when saving tax of 47% so I have focused all my efforts there. Today I have a SIPP of 970k [contributing 3k / month] and ISA of 30k…
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Prudential / M and G - customer service response times...
Hello, Anyone else experiencing long delays for responses? I got a letter responding to a complaint I raised at the start of December about my Prudential pension. The letter (dated 31 Dec) from the person (mandg email address) handling it stated… "WHEN YOU CAN EXPECT TO HEAR FROM ME? I will contact you again as soon as I…
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How should I use my SIPP for a drawdown pension
Hi I do not know if this is something people here could help me with or if I need to pay for advice. If so how do I go about finding someone I was recently made redundant (aged 59). Decided that in todays job market, for an IT job and at my age. I will just take early retirement. I have two work pensions, both index linked…
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SIPP - practical question
Hi I have a practical question regarding reinvesting tax relief back into my SIPP. Grateful for any help, as I can't find the answer elsewhere on-line. Apologies in advance if this has already been answered elsewhere. My situation is this: I am a higher-rate (40%) tax payer who contributes regularly into a SIPP. Via my…
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45k Capita Cash Pension - What to do, need help
Hi there, I am a bit in the unknown about all things pensions and looking for some pointers and help. From a previous employer I have a pension pot with ca 45k in it just now. It's not invested, just a cash pot. Every year the pot is increasing by inflation, up to a maximum of 5% so unless inflation sits above 5% spending…
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Most recent: State Pension Forecast and Buying Years by DRS1
20 February at 8:13PM
