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Can I defer my private pension for another 5 years
I have a small private pension that is due to be paid to me this year. Can I defer my private pension for another 5 years when I become 65? Would it be beneficial? I am planning to take the lump sum now as much needed house repairs have to be done and wonder if I defer my private pension for another 5 years with the same…
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Help needed - max amount I can put into pension
I will very shortly be receiving an inheritance (house + funds), and I would like to put as much of this as I can into my company pension. I could really do with some help in terms of calculating how much I can put in in this tax year (Apr 24 - Apr 25). I am 56 years old, working full time for a company (higher income tax…
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Taking deferred DB pension early
I have been advised that if I took my DB pension on 6 April 2025 (I’d be 60 years and 3 months) it be £7,832.28 a year. NRA is 65 years. However they can’t tell me what my pension would be at 65 - is this normal? I have another DB pension and they’ve told me what it would at NRA and if I took it early. They provided the…
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Suitable SIPP for Short Drawdown
My OH has her work DC pension with TPT, expect it to be around 26 to 28k when she retires this year (date still in debate). They do not do drawdown so she needs to transfer it. Plan is to take 25% TFLS, and drawdown the rest over 26/27 and 27/28 at £11310 a year (while giving me the other £1260 allowance). This allows her…
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Change in Tax Code
Hi. I'm not sure I've posred this in the right place but none of the optiond seemed appropriate. Hoping someone can advise me as HMRC are impossible to get hold of. I received an email today advising that my tax code is changing so they can claw back around £1k. I don't have huge savings so not interest related. Nothing…
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Paying voluntary NI contributions for a period of living abroad
Hi, I recently applied to pay voluntary class 3 NI contributions for
a period of 13 Years living abroad. It was an online form which
simply asked questions that I answered, afterwards I received an
email saying the HMRC had received my application, a reference number
and information about finding out when to expect a…
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Civil Service Pension retirement planning
Hi there, I'm a 60 year old civil servant with 38 years service and I'm trying to understand when/if I should take retirement (either partial or full). My current salary is about £62k but I'm one of the 2% of members who didn't receive an Annual Benefit Statement for last year which makes decision making very…
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Rationalising a portfolio and Capital Gains Tax
Outside of my SIPP and ISA's we have a general investment account that has been added to over the last 20 years or so and now has around 80 holdings. Most of the value is in funds but there are some individual stocks in there and there is a fair degree of overlap. I would love to slim this down to around 10-15 holdings my…
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National Insurance Contributions - Future Pension Centre
Hi all, I have been calling the Future Pension Centre multiple times every single day over the last 10 days but every option ends the call without speaking with someone. I am dialling 0800 731 0175. Background. I worked overseas from 2011 - 2020 in Australia. I am 56 and want to purchase a few missing years of Class 2…
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Fund size
hi, my workplace DC pension is with mercer. Rather than the default funds I have put 100% of my money into "Mercer Passive Global Equity" as i wanted a passive low cost global fund and this was the best of the choices available. I have circa 900K in it. Out of interest was looking at the fact sheet for this fund on the app…
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Pension or Benefits
My wife and I have just received our letters informing us of our state pension increase for 2025- 26. (Scotland) My wife received her letter in the standard brown envelope associated with normal Pension/ Tax correspondence. Inside, the heading stated "Increase to your State Pension Amount" and went on to say the state…
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SW - Pathway 1 - Leave Invested
Hi, i have probably been slightly naive in my decision making, so hoping i can get some advice. Having reached 55, i have drawn a small % (3.9% of the 25%) of my tax free cash from my group pension scheme with Scottish Widows. The Crystallized amount has gone into a fund called - Pathway 1 - Leave Invested. Looking at this…
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Small Pension with a GAR, why can't I transfer it myself?
I' 55 and have have a Work DC Pension through L&G, I wanted to transfer my 3 other Pensions into it. Simple right? Not really! I have transferred one Pension myself, the second is a DB with over £30k value so can't do that myself. I have a Small DC Pension with Royal London worth £14k. Because it has a GAR, L&G are…
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Pension withdrawal
Hi everyone, I am 29 and have paid into 1-2 pensions via private companies. There isn't a lot of money in there and by the time I get to retirement age the fees would have wiped out the money I invested into the pension however the companies will not let me withdraw the money. I now work for the Government who wont let me…
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LGPS and contracting out - How to calculate
Prompted by discussions regarding the closing of opportunities to buy back state pension, I revisited my entitlement. I am already drawing this (now four years in - I deferred for one year), in addition to LGPS. I have 42+ years contributions in my NI when I retired but do not receive the full state pension. I am aware…
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SAUL Pension Scheme - APC vs SIPP
I’m hoping someone can help me to
sense-check my thinking about buying extra pension via an APC from my employer’s
pension scheme (and this might be helpful to other people considering the same
thing further down the line). I am considering buying an APC but
debating whether I would be better off paying the equivalent…
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How to pick a SIPP - and is it worth it?
I'm feeling quite in a pickle as I've recently moved jobs and my new pension doesn't have an investment builder element, so overpayment (of around £3k/yr) is not particularly valuable. I want to add to a pension, to make use of tax relief and avoid hitting the 40% income tax threshold (Gross salary is £56k, £53k after…
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Civil Service Premium Pension
I can see that there are a number of very knowledgeable folk in this area, so hope someone can help provide me with some clarity 😄😧. I will be 64 when I retire, which means I have worked 4years beyond the schemes normal pension age (NPA) of 60. I have had a benefit calculation based on the leg 3 calculation, which now…
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Pension for spouse
Hi Newbie here and needing help. High tax earner who would like advice on how I can contribute to my spouses pension. They are self employed (not eligible for UC because of me) and earn below £4k/year. They don’t have a pension (SIPP) and I’d like to contribute to their pension and make this tax efficient. How far back can…
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Pru pension difficulties
I’m in the process of dealing with my late brothers estate. Everything except his Pru pension has paid out. He had a Pridential flexible retirement plan. We completed a form with all 7 beneficiaries names in November. All of us are family members. I’ve chased the matter with his FA and have been told the following:- "…
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703 discussions
6.2K comments
Most recent: HMRC call back wait times by molerat
29 August at 10:37AM
