-
Army service
I served for 3 years in the Army from 1977 to 1980 and after contacting the MOD I was informed that I was not eligible for Pension could I still use this service time in my Civil service pension as I am retiring in the next 2 months Thanks
-
LGPS transfer finding an IFA
I have not been working due to ongoing health issues. Late last year I was also diagnosed with prostate cancer of which I am being treated. However I learned last year that to get my pension transferred so that I could get a draw down to help with financial needs. I have to pay an IFA to sign it off to transfer to an…
-
Renting during retirement - a no brainer?
Just for fun I was messing around wondering what would happen if instead of buying a new downsized house when we sell up shortly, what would happen if we just kept the money and rented throughout retirement. I plugged in a few numbers to historical modelling, and it seems like renting works out slightly better with a 99%…
-
Transferring from DB after divorce.
Hi everyone, I hope you can advise. I am soon to be divorced and will be allocated slightly over £100k from a DB scheme via the CETV. The pension is already in payment and the tax free element has been used as my other half is older than me. If I stay within the current scheme I believe I will take a reduction due to…
-
Ticked wrong box on pension application (Teachers Pension)
I have just found out that I ticked the wrong box for my pension. I wanted to take a lump sum. TP have processed it as monthly pension instead Can this be rectified as they suggest that the application is non rescind-able? I need the lump sum, hence early retirement Any advice/knowledge please? Martin
-
Automatically opted back into workplace pension
Hi I took partial retirement in 2023 and took my pension, I continue to work part time and in November 24 was automatically opted back into the pension scheme (I should have noticed) my employers contribute , however I intend to retire fully in December 2026 so will have been paying in for 2 years . Is it worth my money…
-
Pensions Advice - a stupid misunderstanding from me
Hi, I wanted to post about this as there may be other people who appreciate a heads up — even though I know many people on these boards are very generous with their time, sharing their expertise and may well scoff at such a basic misunderstanding on my part. over the last decade or so, after my husband died in his early…
-
TFL Pension made a loss over the last 10 years?
I'm currently going through a divorce. My wife had an affair at work (not at TFL), and we are sorting out pensions. My pension pot is larger, so I have to transfer a percentage of my retirement to her (yay, lucky me, a double kick in the face). In 2015 she was given a transfer amount for her TFL fund of 30k, I can see the…
-
Pension: 4.5 year age difference and 50/50 split
I'm getting divorced. I'm 49, and she is 44. There is a 4.5-year age difference. The mediator is pushing for a 50/50 split. Would the 4.5-year age difference impact the share calculation if we visited a specialist? i.e. the pot will continue to accrue over 4.5 years and she'll get more as a result at point of retirement,…
-
Actually getting my pension!
I want to start receiving my pension, as I'm well past NRA. I know what my pension should be, but I need a 'retirement pack', which I requested at the beginning of March. It's now almost May, and it still hasn't arrived. It's a DB plan, and the employer is AON. Are there any service standards the scheme needs to work to,…
-
High rate tax payer pension relief
Hi - really confused on the different ways to claim back tax relief on pension contributions. I am a higher rate tax payer and have never claimed any tax relief. My understanding is that I can claim the additional 20% tax relief from HMRC but seems to be different ways depending on what tax year? I understand I can claim…
-
Small pension pots to be automatically combined in future under Government plans
If you have a number of small pension pots you've built up over years of changing jobs, they may be automatically combined in future under new Government plans... Read the full story: Small pension pots to be automatically combined in future under Government plans If you haven’t already, join the forum to reply.
-
Claiming back tax from pension lump sum contribution
I've a question about claiming tax relief on a income that I want to put into my pension. He's the scenario - I've had a bonus payment from work. I knew it was coming, so I instructed payroll that I wanted to pay it directly into my pension as salary sacrifice, rather than take it after PAYE so that it wouldn't get taxed.…
-
Problem with registering manage my state pension
I got a recent invitation to register with them. You need two proofs of ID. So I used my ID driving license and the credit check option. On the credit check it asked how long since you set up a bank account and a few other details which I gave them. It also showed a list of addresses and you have to select any that are…
-
Surrender value takes 15 to 20 days
Hi Requested a surrender value and this takes 15 to 20 days - is this normal? The pension is a final salary guaranteed type jobby. Is it possible to move it from the current provider to another without losing its terms and conditions etc so it would be just the same, but with someone who provides quicker info if required?…
-
Pension Recycling
I am paying into civil service pension scheme (previously
Classic, now Alpha) total service about 29 years – 18.5 in Classic and rest up
to current in Alpha (mcloud Option B!) In Feb 2023 I got promoted and went into 40% tax territory
and to mitigate this started an AVC (initially 10% of salary) – increased this
to 15% and…
-
Appointed SASS Administrators renege on the agreement
Help, We set up our sass and went with an admin company we have found unfortunately to be unsatisfactory in the services provided. We joined the scheme in July 2022 and paid annual fees and were advised we would have annual board meetings with them to discuss the Sass. In the next year, they demanded their annual fees in…
-
Tracing lost pensions - advice please on hard-to-find pensions!
Using the Pension Tracing Service, Gretel and Aviva's Find & Combine service, i've successfully tracked down the majority of my pension pots, but there are potentially two outstanding sums from the 1990s that are proving incredibly hard to track down. Does anyone have any advice on getting really forensic with pension…
-
State pension forecast
I'm just trying to see my SP forecast and the web page is displaying a 'Sorry, we are unable to calculate your forecast at the moment' message. Obviously this is not what I want to see and it isn't urgent so quite acceptable, but the message also says 'Your State Pension forecast will be available on 29 May 2024.' Does…
-
DC Pension: married with no kids.
A lot of comments I see on DC pensions seem to have kids and inheritance in mind. I have work colleagues who wish to leave as much of the pot intact to pass on. Without kids is there a different way of looking at it or is the 3-4% SWR still the way to go? Thanks in advance.
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
724 discussions
6.3K comments
Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
4 December at 1:45PM
