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Civil Service Premium & Alpha scheme member
Hi, I have been in the Civil Service since 11/2004 and was originally in the Premium scheme but was transferred into the Alpha scheme. Like others I’m tied up in the McCloud judgement. I turned 60 in July 25 and so have 3 options, continue working, part retire or continue working. I also at 60 started to receive a private…
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65. Am I going about this correctly?
Retired 5 years ago at 60. Since then I've been making UFPLS annual withdrawals from my private pension, got about £290K left in that and savings/investments amounting to around £450K. This year I get my USS (Universities Superannuation Scheme) pension and, later, my state pension (£12K per year). I'm going to take the…
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I don't believe what HMRC have told me!
Please forgive me if this has been asked before, but I can't find the relevant thread? Forget the increase in State Pension due in April and this has nothing to do with Income Tax but I recently found that the "full" pension should be £230.25 per week currently. I have been getting £207.50 yet have paid 42 "Full" years NI…
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Pension, is this legal?
Ok the figures i am going to post are mine, the scenario described is real, the advice is for me. I worked as a coach driver for a well known "national" company the company i was employed by was a 3rd party operator. This last 18mth the national company have been struggling financially and have been selling of various…
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Scottish Widows
Afternoon all, I'm looking for some basic advice please, I appreciate none of which will be Regulated but I'm looking to confirm my understanding and by association want to understand what Scottish Widows (SW) has done recently to determine the risk based on that knowledge. Apoligies in advance for a long winded initial…
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How to plan for arrival of 6-figure sum when deceased parents’ house is sold.
Hi all, apologies in advance for the waffle. I’m 53, married, with no children or debts. I’ve worked in local government for 25 years and earn about £36K. I’m in the LGPS and also contribute monthly to a SIPP. My wife, who is five years younger, works freelance, earns £20–25K, has limited savings, and contributes a small…
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Employer's pension contributions - statements
Hi, new here, I hope I'm in the right place! I am in a workplace pension scheme, to which my employer makes a monthly contribution, as do I, directly from my salary. Recently I have had notification from the scheme provider that my employer has missed a number of contributions. I have a statement of contributions from the…
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Affairs in order (from a finance perspective)
Hi all While arguably could go elsewhere on this forum lots of knowledgeable organised people here and also definitely pensions is a major part of thing. Just been going through our legal affairs to address what should happen with everything in event of one or both of me and partner being incapacitated / dying. Checklist…
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Drawdown plan
Please can you critique my drawdown plan? 1: Basic needs are covered by partners defined benefit pension plus an Index Linked Bond Ladder covering between retirement and State pension age. 2: Nice to have’s, holidays new cars etc etc are to be covered by a SIPP pot plus S&S ISA’s (x2 one for me one for my partner) 3: We…
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Paying into SIPP and a workplace pension
I took a voluntary redundancy package in December and I'm now starting my retirement journey. I was paying into a workplace scheme via salary sacrifice (50% salary) and also sacrificed bonus plus redundancy amount above £30K (which went in as an employer contribution). Given this is the likely final year with significant…
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When to cancel transfer of married allowance?
My wife has transferred 10% of her income tax allowance to me (marriage allowance). She has only had very limited income for a number of years and didnt use all of her allowance. Next April (in new 2026/2027 tax year) she will start to take her DB pension and will be paying basic rate tax. So she will stop the marriage…
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GPPP is it Workplace or Personal - limited to 3 cash-ins?
Hi all, Going through some pension documentation for a friend. We're trying to trace some, update others with correct address and personal details. Basically, get them all registered for online access and see what is what. As my friend has worked a number of jobs over the years for fairly short periods of time, each…
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Drawing from an inherited SIPP pot - MPAA is NOT triggered?
Anyone else read the article in today’s Telegraph? Quite apart from the imminent changes to the fee structure, I think what I’ve read this morning (assuming I’ve understood it correctly), is probably the final straw for me. Over the last few years, I’ve had cause to raise complaints about the service I’ve received - I…
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Most tax efficient way to draw down personal pension
I am 60, retired early and look forward to an NHS pension when I am 65. In the meantime I have a personal pension of about £70K which i would like to withdraw ALL as income between now and then (2030). I have no other income but living on my husband's pension. What is the most tax efficient way to draw down the £70K? -…
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Civil Service Pension & Tax
I was retired from the Civil Service on the grounds of ill health in 2013 (I was in the Classic Scheme). Due to circumstances, I didn’t claim it at the time; I am now looking at doing so. My annual pension will be 12k. MyCSP have confirmed that it will be back-dated (ie 12k x 12 years = £144000). What I was hoping to do…
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Early-retirement wannabe
I would like to create a topic (don't see it at the moment - other than the NUMBER thread). Who is aiming for early retirement (or who has retired early already)? When did you begin planning and what drove the decision? What is the strategy for getting there? How much of a relative decline in income are you prepared to…
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AFPS 75/15
Please bear with me… I joined the UK Armed Forces in ‘97 at 22 yrs of age. I served to ‘16 and elected to remain on the ‘75 scheme throughout. This 18.5 yrs served on AFPS 75 gave me an immediate pension of £14.5K p.a. but I opted to take full commutation so my annual immediate award dropped to £12K until I reach 55 yrs of…
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DB lump sum question
I am about to retire and claim my SAUL DB pension and will have to decide how much I want to take as a lump sum once the final quote arrives. I don't need a large lump sum as I have other savings/ISA. My instinct is to take about 50% of the lump sum offered or slightly less to use to spoil myself with a few more expensive…
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I have been left a £50,000 inheritance, I want to add it to my pension pot.
I have just turned 64, I have a part time job earning £1,200 per month and a small HM Forces pension and a little savings. I also have a personal pension with Aegon and have a pot in the £40,000's. I have just been left a £50,000 inheritance and I want to add this to my pension pot. Seems like a straight forward thing to…
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Deferred State Pension application - why the insistence re 4 Months?
I posted the completed relevant form re the above subject. Received a letter from the Wolverhampton office stating I'd applied too early. Oh, by one week. That was it - no forms returned, no advice, no personal name given by the brainiac who sent the letter (which is beyond infuriating). Fortunately I took photos of all…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: Gaps in National insurance contributions by molerat
12 March at 10:53PM
