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Getting the money!
I currently have a DB pension with £22,895 in it, retirement June 2026. I was asked how I wanted to take it. I elected for the trivial commutation lump sum because I have urgent roof repairs to fund but because I closed a different pension for £8,158 some years back I’ve been told that I can’t because: “The capital value…
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Missing employer pension contribution on final payslip
Hi I left my employer in mid-February (and my P45 was issued at that stage). In March I received payment for amounts that they had failed to pay me in February. When checking my payslip I noticed that not only did they not deduct my employee pension contribution in March but they also failed to make any employer…
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Searching for critical mass
I wanted to send this out as a pulse check to see if we are on the right track, generally, and if there is maybe other things we should consider. Married, 2 kids, just turned 40. My partner and I have £390,000 invested across ISAs & pension. Combined we are putting away around £2500 a month into these, and mainly into…
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Lump sum from DB Pension fund
Afternoon all, Am trying to give some general guidance to a family member who should be in receipt of a DB pension (and tax free lump sum in excess of £30k), in about 18 months time. Planning to look at their complete financial situation (cash, stocks and shares, all pensions) to see if it looks realistic to fully retire…
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Can you use pay in lieu of notice to make a personal pension contribution
Hi, I have been made redundant from 30th April 2026 because the company is closing. In additional to a redundancy payment, I will receive around £11,000 gross which is made up of my usual salary for the month, pay in lieu of notice and holiday pay. I will not be doing any further work from this date so this will be my…
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Profile Pensions annual fee?
Morning, everyone 🙂 I'd like to ask kindly anyone of Profile Pensions users, as I consider starting my private pension with them and still trying to find answers for whatever puzzles me.. Their annual fee is 0,82-0,86% with all the aspects included (ongoing investment advice as well) - but WHEN during a year do they…
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Pension draw down strategy over 6-7 years whilst still working
Hi, we want to take out circa £230k from our pension pot by 2032 as efficiently as possible. So we're focused on making the most of the 25% tax free bit and also being as sensible as possible with navigating the 60% trap (since I'm working still and earning circa £85k). I'd like to leave using the 25% as late as possible…
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Pension sharing annex - no solicitor
I started proceedings for a divorce in 2021. I have been awarded 33.3% of my ex husbands pension. I don't have a pension as I was a SAHM. No other assets. I've been asked to send the Pension sharing annex by my exes pension company so they can release the funds. I have looked at the form and I don't understand some of the…
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Pension credit,
Hi, I am looking for someone to explain to me (as I understand it), the pension credit scheme. I have recently retired and worked for fifty years paying all necessary N.I. contributions to obtain the full state pension. What I cannot understand is why someone who has not contributed to the full qualifying period and then…
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MP Estate Planning & Asset Preservation Trusts - Buyer Beware!
Searching through the forums there is an older thread which covered this firm, which you can find below. The thread has been closed, but I came across information related to this, so thought I'd post it in case anyone else does a search about this company. The article is by well known tax lawyer, Dan Neidle, and is posted…
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How to apply GAD reduction factors to CS Alpha
I am trying to calculate how much Alpha added pension will be reduced if £6600 was paid from salary during 2026-27, giving £453 if taken at NRA of 67, but then the added pension was taken at early retirement aged 56. Would I get zero in April 2027, then in April 2028 a reduced figure from £453 plus CPI? What would the…
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IFA vs DIY
I'd be interested to learn what are folks' views on DIY pension management vs. handing over to an IFA or similar? My immediate concerns would be handing over my life savings to a relative unknown and them scarpering off with the money, their ability to manage the risk, pick funds/bonds etc, fees, etc. On the other hand, it…
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TPS vs LGPS
Hi everyone are there any pension geeks out there who know the ins and outs of the Teachers Pension Scheme vs the Local Government Pension Scheme? I work at Sheffield Hallam University and the management are proposing moving most of us academic staff out of the TPS and into the LGPS. Are we going to better or worse off in…
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Defined Benefit pension transfer advice
I have a Defined Benefit Cash Balance Scheme pension with a transfer value of c.£70k. I would like to transfer this to an existing SIPP. In order to do so, I need a suitably qualified advisor who can sign a Pension Transfer Advice Declaration for me. All of the advisors that I have approached either aren't suitable…
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Salary Sacrifice after taking state pension
I am 66 next year and am entitled to the full state pension. I want to continue working part-time for a year and want to stop paying tax of on my non ISA savings by utilising the starting rate for savers. I will be getting about 2.5K in interest. As I see it I have 2 options. Pay the majority of wages into my work's…
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Over annual allowance
I contribute to my employers pension scheme via salary sacrifice. For the last few years I’ve been fully utilising the £60k annual allowance so have very little carry over available. I’ve just realised that my final paycheque for this tax year will take me over my permitted annual allowance by about £2k. Although my…
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Civil Service McCloud lump sum confusion
Myself and my wife have been planning for retirement (I'm USS and she's Civil Service). She has been subject to the McCloud remedy but we have been going round in circles as to what this means, and the Civil Service pension modeller is not helping. The first issue is the lump sum (I tacked this onto the end of someone…
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Nest Pension - anyone have experience of taking money?
I'm looking to start taking money out of Nest, but I'm getting conflicting advice from them. On the one hand they have said "If you have £3000 or more in your pot you can take some cash out and keep saving with Nest. You can do this once every calendar month. Up to 25% of each withdrawal will be tax-free, and the rest will…
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Pension while recuperating abroad.
A relative who is visisting family in France unfortunately has had a fall and broken their hip, they have been told it could be between 3 and 10 months before they are able to return home. How will this effect their state pension and do they need to inform any government departments?
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Transfer of SIPP to self managed fund
I consolidated a few DC pensions a few years ago under the advice of my FA. Having done the Rebel Finance School course, I now want to leave my FA and transfer to a self managed SIPP. I'm 60, don't need to start withdrawing for a few more years unless I need to access the lump sum. How do I go about finding out which fund…
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