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Carry Forward Allowance and Earnings Rule
I will be looking to make a contribution into my SIPP at the
end of the current tax year and make use of carry forward allowance for prior
years. I have been able to calculate that I have £59,694 of carry forward
allowance relating to 2023/24 and 2022/23 having made pension contributions of
£24,706 in 2023/24 and £15,600…
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The Open Work Partnership & OMNIS Agility
Hi,I would like to ask for some feedback please on your experiences and knowledge.I have been speaking to a financial advisor from The Open Work Partnership. The conclusion was that he advises that I move my work pension worth hundreds of thousands of pounds to their managed pension 'drawdown' funds called "OMNIS Agility…
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Scottish Widows
I am having a lot of problems with my Scottish Widows personal pension. It is 2 years and 5 Months since payments should have started and you just couldn't make up the level of incompetence that I have encountered. They have been the worst company ever and although they have come up with a settlement plan now, I have no…
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The Private Office IFA
Hi Anyone any experience, good or bad with the above firm. Got matched to them via unbiased. They look like a nationwide company with multiple IFA's, as such I appreciate experiences could be down to individuals. Any watch outs?? initial intro call suggested they would work on fixed fee for advice. Next step is a 1.5 hr…
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New free SIPP platform (until the end of April) - Prosper - anyone else on this?
I noticed this offer here: www.joinprosper.co.uk Applying before the end of April for zero platform fees for life. Seems pretty good? I've opened an account and put £100 in it while I look at it further, but considering moving over a bunch of Vanguard ETFs in my SIPP, that are in a Hargreaves Lansdown account (which I…
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Prepping to pull the trigger and thank you
Hi All I have decided that this is my final year of work! I have 2 pension funds and an ISA available to cover spending over the next 4 years until SPA at 67 and I want to understand how to wring the most advantage out of the monies I can pay in over the coming months until I pull the trigger. My question today concerns…
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Fear of financial advisors (and of paying for advice I don't need)
I am approaching retirement with a couple of DC funds and no mortgage and I know I'll be comfortably off once I have made the transition to pipe and slippers. I am numerate and fairly savvy when it comes to tax and investments. But the situation I want to avoid is where I have paid a financial advisor ££££ in fees only to…
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Should a very sick person keep working - where does he get advice on options?
Hi - please can any one advise how to get informed help for a sick friend with difficult decisions - he is possibly terminal but is continuing to work as much as he can manage, so his wife gets his death in service lump sum. I think he needs someone to understand his work Ts and Cs for him. He is in constant agony and very…
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Pension contributions Limit + Salary Sacrifice
Hi there, I have a question regarding pension contributions. I hopefully have it correct that the limit in any given tax year is currently 60K, or the amount of your gross income in that year if it is less than 60k. However if you are making pension contributions via Salary Sacrifice do these need to be considered as part…
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CETV Calculation
Is there any "rough" way to work this out? I've got a pension that pays about £10k PA and I'm 60. I assume the calculation is on the basis I live until 83 ( not sure why I picked that number! ). So 23 years at 10k - is 230k - nut I think there would probably be some sort of % added on a compound basis. ie 10k with a 3%…
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Early Retirement from USS ahead of ERF changes this year
It looks like I will be retiring early at the end of September 2024 due to the changes in USS' early retirement factors. I had planned to retire in 2 years time, but the October change to ERFs would push that out by 2-3 years to reach the same level which is just not viable for me. Instead it makes more sense to accept a…
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Iweb SIPP
Hi, I moved to Iweb SIPP as it is cheap about £360 per year. I noticed that AJ Bell also charge 1% as a management fee that never shows up on tables. Do you think it is cheaper just to move to AJ Bell which seems to charge just .25% to a maximum amount? Or as with all charges am I not comparing apples with apples?
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Salary Sacrifice - generous or stingy?
Hi folks. I’ll shortly be taking up a new position and trying to gauge if new employers are being a bit tight. The default for them is 4% from me and 4% from them which I understand is a slight improvement on the usual 5/3 split. However if I pay a higher percentage then I can use salary sacrifice and here’s where my maths…
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Early retirement options for civil servant - EPA, SIPP, ISA??
Hi all, I’d really appreciate some pensions advice please. For context, I’m in my early thirties. I work in the Civil Service and pay into the Alpha pension (and have done so since I joined in 2018). I can claim the full Alpha pension at state pension age, which is currently 68 for me, but might increase. As well as paying…
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Old DB Scheme - sanity check required
I was a member of a Company DB scheme for nearly 20 years, before they closed it. The last statement I had (last year) says the estimated total annual pension at age 65 will be £15k But then it also says that in addition I transferred in 2 other old pensions from previous employees and the statement describes them as a…
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McCloud & IHR
I was successful in obtaining IHR (Lower tier Alpha) two years ago and am awaiting my reassessment under the remedy. A few months prior to my application, a TU pension specialist gave me an estimate of what my IHR pension/lump sum would be given three scenarios - Alpha Higher tier/Alpha Lower tier/Classic, for the…
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Any pension providers committing to access at 57 y.o. for newly opened accounts?
Hello, Thinking of opening SIPPs for our two children with a hope that this can "preserve" the age of access at 57 yo. Will not be paying in anything noteworthy, say £50/month or whatever is the provider's minimum amount. Contributing into their SS ISAs already; pensions opening will be purely for access age reasons. Does…
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Transfer of NZ Kiwisaver to UK.
I have a private pension plan in New Zealand and am migrating back to the UK soon. I can withdraw the savings from the plan after being out of New Zealand for a year and intend to transfer the money into a UK pension plan before buying an annuity. Would the amount transferred be subject to taxation in the UK? Thanks
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NHS pension ?going private
I have been working for the NHS and been paying into my pension for 19 years (in Scotland if that makes a difference). I have been looking at jobs in the private sector and am a bit thick as to how that could affect my pension! I take it I'd still be due whatever I'd be due for the 19 years however the move to the private…
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Worried sick about low pension balance
I'm 47 and worked almost non-stop since graduating. I've been paying into the pensions of of the various places I've worked over the years, and looking at the combined balance of these pensions I'm terrified. All those years, and it all adds up to less than £30k. A recent guide I read said I should have about £200k in…
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