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Self-employed NI contributions and state pension
Hi, I'm hoping that someone can
provide clarity on the following please. I worked full-time up until December 2021 and
paid NI through PAYE. My pension forecast on HMRC indicates that I can
claim my pension in July 2026, and it will be the full amount of £230.25 per
week. It states that I cannot improve my forecast any…
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Pru to ii
So I’m 54 and will be accessing pensions in a couple of years. I have 3 small pensions, and am considering moving one with prudential to ii. The value is just short of £20k. My reasoning is that prudential don’t seem to offer drawdown. I should save on fees as I’m paying roughly £8.50 a month to pru and ii is £5.99 a…
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Pension - Tax Free Lump Sum or Not?
I will be 70 soon and have to decide about a company pension (final salary) that has been left untouched from a previous company I worked for. At present I get the state pension and two other very small company pensions. I am still working part time but likely to retire within the next year or so. These pensions were…
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Impact of Married Women's NI stamp versus HRP
I would like your comments on my circumstances which I describe below – I
cannot believe that I am the only retired married woman to be in this situation: * I was born in May 1949 and started working in 1966 * I paid the reduced married women’s NI stamp from 1977 to 1985 * Only now do I understand that the reduced stamp…
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NMPA changes - taking pension at 55 before 2028
My husband was planning early retirement aged 55 (born November 1971) on 1 April 2027 - he would be 55 before the changes to NMPA in April 2028. However his employers pension provider have written to tell him those born after April 1971 cannot take their pension until age 57 even before the government changes come into…
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Cashing in one of my pension pots
Team, I have two pension pots, an old one I no longer contribute in and my "normal" current pension pot that I am paying in to at the moment. The smaller of the two I plan on taking the 25% lump sum at the start of March next year when I turn 55 and then looking to draw down the balance of that towards the end of March…
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LGPS transfer question
Apologies as I know this question comes up regularly but I would welcome your thoughts. I have LGPS membership from 1995 to 2024 (some gaps due to time out and maternity leave but all joined together). I have approx 9 years pre 2008 and 4 year pre 2014, the rest CARE. I changed jobs in 2024 and moved straight to another…
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Civil Service Alpha - just joining at 53 and need some advice
Hi, I'm looking for some advise around my pensions (and whether finding an independent financial advisor would be any use) I'm 53 I have 4 different pensions from the various companies I've worked for over the years in total these hold about £200k in total (two have around £10K and two have around £90K) there's nothing…
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HM Forces contracted out pensions.
Does anyone know how to locate where my Royal Navy contracted out pension provider might be? I have had nothing but useless info from UK Veterans AFPS at the moment.
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Will my work pension be backdated when first paid?
I have a deferred
Final Salary pension with my current employer. The scheme was closed down over
a decade ago, and replaced with a Money Purchase one, as so many schemes were. I am considering
retiring soon and drawing this deferred company pension, but not the subsequent money purchase one for now. The work pension…
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Which annuity provider? How to select one?
I'm 75, retired, 50% of our investments are in S&S ISAs and 50% in my drawdown SIPP. Overall around 65/35 equities/fixed interest. I'm considering transferring some or maybe all of my SIPP into an annuity as a means partly of risk reduction and partly to reduce the need to constantly monitor performance & fiddling. I'm…
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Starting a pension fund for adult children
My children are both in their early 20's and are currently both undertaking postgraduate study for at least the next two years. They both work part time, one on a "Bank" contract and the other in a small company, to support their studies. They're both back at home for another year at least, and we already help them…
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The annoying theft by NEST in the name of pension!
I am working at a private firm and the NEST started taking pension amount from my salary! My employer didn't fill me in properly about the opt out scheme. Then I opted out and NEST took another £80 again. I haven't received any letter yet. No human beings there to talk! Moreover I wont get a refund! I am an immigrant in…
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Accessing small lifestyle pension pot
Hi I’m 60 yrs old , semi retired taking monthly drawdown from a decent pension pot I also have through my previous company a lifestyle pension of 50k which I haven’t contributed to in around 3 yrs I would like to explore the possibility of getting access to the 25 percent tax free amount of the pot, At first I thought I…
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Civil Service McCloud backdated payments?
Hello, I retired from the Civil Service in June 21 aged 52 and
claimed my Classic pension straight away. I’m now 56 and put in a request to start my Alpha pension a
few months back to hopefully trigger my Remediable Service Statement as I had
not received it. I received a letter today showing my options and the…
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Letters from DWP
I've kept every letter from DWP since I started claiming my pension in 2008. Do I need to keep them all? If not, how far back should I keep?
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When is 268k not 268k?
This will it/won't it around reduction of TFC is doing the rounds at the moment as we all know. I've a thought on the TFC which I'd like to sanity check. So keeping numbers simple. With the [current] limit of 268k then if you made a 40K UFPLS withdrawal you'd chalk off 10k of your TFC off of your 268 limit. The 10K for the…
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£52,000 Pension pot, I want to take all out and pay as little tax on it as possible
Quite simply and without going into too much detail I am unlikely to reach the 67 pension age, and if I do it will not be long after etc etc, like I said not worth going into. I have been quite ill this year but right now I am OK ish and looking for a little more work, I am an electrician. I have already taken my 25% from…
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Group Income Protection Lump Sum Offer
Hello All - looking for a bit of guidance please - I have been offered a lump sum of £80k by the GIP insurer via my employer. I have been receiving gip for 22 years and have seven years left to run until I reach my retirement. My employer is currently making widespread redundancies and I can be made redundant even when in…
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Passed probation at large corporation, now offered different pension, should I transfer to it?
Hi guys, I'm earning £65k per year and have recently passed probation at a large corporation, with this I am now entitled to a different pension, I’m currently on the company auto-enrolment level but am curious about the ‘Level 3’ option they offer. I am looking for maximum money in my pension but also don’t want my take…
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