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IHT £250 small gift exemption
The guidance on all websites., even Gov.uk is contradictory. These two consecutive statement on an accountant's web site set out the contradiction. "You can also make small gifts of up to £250 to as many
people as you like throughout the year. This small gift exemption allows you to
give these smaller amounts without…
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Effect of US Tariffs and how it might change your investment strategy (or not)
Interesting video. US based and touches on the history of tariffs (3 different eras going back to 1800's), how they have affected the market and strategies for navigating the current market, especially if you are investing for retirement. Clear presentation and very grounded though most interesting bits for me are the…
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NI gap query
This discussion was created from comments split from: Paying NI Gaps.
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Lump sum question (Nest)
I am in the process of completing my transfer out of Nest Pensions to an annuity company and taking my cash free lump sum. I am expecting to see the money come into my account on Monday, but I received a rather confusing confirmation letter from Nest, considering they must be using a template. They talk about "we HAVE…
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Company Pension - No discretionary increase
I have a private company pension which is split into 3 components.. GMP prior to 6 April 1988 - Not increased by the plan GMP after 6 April 1988 - 1.7% increase Pension in excess of GMP accrued prior to 5 April 1997 - Discretionary increases only, no increase The bulk of it is in the 3rd category. Can I assume that as it…
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Very quick first withdrawal from II at age 55
I have heard and read over the years that once you turn 55 that your first pension withdrawal takes a while to sort, I turned 55 last week and thought I would try and see if I could squeeze my first withdrawal into this tax year, so to my surprise it has appeared in my bank account this afternoon (20% tax been taken off…
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Paying NI Gaps
I have been paying off NI gaos for my wife over last few years. It normally goes online but this year seems late? For tax year 2023/2024 online it still shows as payment amount not available yet.
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Pension contribution amount to stay in BR tax
Hi. Should probably be easy to find out but I'm going round and round with google...would be grateful for real help! This year my taxable income from salary + pension +savings interest should come to £53400. So £3130 in excess of the £50270 threshold for HR tax. My question is how much should I pay into my SIPP to keep me…
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Should I stay with current IFA or jump ship?
Hi I am approaching 60 and want to semi retire. I would love to retire completely but cannot afford it just yet. I have had the same job for 40 years, it is a managerial job and I propose to step down to a member of staff earning just over minimum wage and to work for around 20 hours per week. I need approx £2000 net per…
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Early retire or defer
I will be 59 in a couple of weeks and have decided to jump ship from local government job. i do not need the pension or lump sum at the moment,(covered by separate DC pot). early retirement will cost around 30% reduction (£2400 down to £1600 per annum). can anyone tell me the payback period for taking the pension early…
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NI contributions for early retiree
I'm due to retire at 59 and have fully paid up NI and due full state pension when I get to that age. I know I don't pay NI on my personal pension but do I have to register anywhere for NI credits
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Phoenix Life Stopped Paying Monthly Pension
Hi, my partner's father is 86 years old and currently lives in the Dordogne in France. He receives a monthly pension of £800 from Phoenix Life on the 27th of each month. The last payment they made to him was 27th January and they have failed to pay on the 27th February and 27th March. He barely has enough money to pay his…
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What was SERPS and where did my pension contributions go to?
Hi From September 1996 to September 1998, I worked for a construction company in Darlington. I paid approximately £150 per month for two years. When I left the company they said they were paying all my contributions into SERPs for me as I had not quite me the full 2 year working period for the company pension. I've tried…
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Pension pot
Hi everybody can someone please explain to me if I could take money out of my pension and still work? I’m 59 this year and I’ve been working for the local government for 26 years can I take some of this pension out and then work part time or can I take some of the pension out and work full-time? How does it work? I’m…
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LGPS redundancy pre 2008
Hi, in the case of VR in the LGPS, how is the pre 2008 service and guaranteed lump sum treated? Will they be unreduced like the CARE pension? Or do they fall under different rules? Thanks
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Annual pension allowance calculation
I’m trying to work out how much more I can transfer into my pension before the end of the year. Pension is via salary sacrifice. Salary is £32k before salary sacrifice. Taxable pay to end Feb £24.6k. To date I’ve made a lump sum payment of £14k and my employer has transferred £6.3k
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Critique my retirement plan
Hi, First post on here so be gentle. I am coming up 55 in a few months, with a partner coming up 50 in six months. My figures are as such, £350,000 split fairly equally over 5 different companies but all DC pensions. £580,000 in stocks/shares ISA’s Then approx £20,000 in bank Partner only works P/T and has no pension or…
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Help with civil service pension remodeler
Hello all...... I am 56 and looking to retire within the next year. I have 33 years completed in CS and pension was classic then Alpha. I am still working full time but had my fill and want out 😃 I have looked at remodeler and have option A or B which I understand ok......my question is remodeler shows my age as 57…
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Civil Service Pension CSP Alpha and Nuvos - Early Retirement Reductions
I am hoping some smart people on here will be able to help me make a best guess on what reductions will be applied to my Civil Service pension as I am getting nowhere with CSP on this matter. The retirement modeller doesn't work for me. Note that I transferred my Local Goverment pension to CSP as the numbers were better. I…
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Nearing Retirement and Investing £100k SIPP v ISA v other?
I am 57, ready to stop work in next 15 months and fortunately we now have a cash lump sum of £100k I'd like to work hard for us over the next few years. My contributions to existing company DC scheme would stop in 3 months. In remaining 12 months before my stopping work, I cannot pay into same company pension from that…
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Most recent: Accessing HMRC site without passport / driving licence by QrizB
15 October at 10:38PM
