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Approaching retirement - best beginner tips?
I’m a novice when it comes to pensions. Ive only ever had DB pensions but am now 55 and wondering if there is anything obvious I should or could be doing. I’m not expecting a full IFA assessment but is there anything you would do in my position? I have 2 x DB pensions, one retirement age is 60, other (my current employer)…
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Am I better off making AVCs salary sacrificed or not?
Hi all, I have my pension with USS. At the moment I pay monthly £2.4k AVCs into the USS scheme. I also pay £17k pa into my SIPP. (Im aware this tips me over the AA. I know this removes the tax incentive, but my thinking is that at least I know Im using my AA, and the few K Im contributing above this, I would only invest in…
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Deffered benefit pension scheme Fluctuations in growth
I have a deferred defined benefit scheme (final salary) which I have been receiving annual retirement quotations from on retirement income. So that I can plan my retirement accordingly. I have noticed that over the past 8 years, the value of my 25% tax free lump sum plus income, and 100% income option has gone up and down…
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Aegon pension fund - fee overcharge since June 2020
For attention of anyone with an Aegon pension plan I have today received notice from Aegon that, from June 2020, Aegon took more than the 1% charge my plan was meant to be billed at every year. I do not know if this is a problem specific to my account, or everyone with the same plan. (I don't recall doing anything around…
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Supposed free inheritance preservation seminars
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Bridging the gap to state pension.
Hi, I have recently given up work at 55 and will start taking my DB pension from April 26. This will provide some of my monthly income and I will then need to top up from savings (this includes my TFLS from the DB pension) or one of 2 DC pensions I have. These have not yet been touched. The DB pension will not use all of…
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Home Responsibilities Protection
Hi. On the back of the Martin Lewis Money Show, I helped my 82 year old Mum, who is being treated for multiple myeloma, to apply for missing HRP in July 2025. Despite a number of calls to HMRC, initially confirming in the first call the application had been received (albeit she received an auto email confirming this) and,…
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Sense Check Please!
Me and the missus are retiring in two years time aged 57. She will have an index linked DB pension paying £20k gross. I hope to have my DC pension up to approx. £300k and we will have "cash" (ISA etc.) savings of approx £150k. We also have a rental house in my name and a house in her name (its actually 2 houses each which…
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USS pension - what happens to Investment Builder on death?
Hello I see there's a few USS queries on here but none addressing my concern - which is what happens to the Investment Builder pot when you die? From what I can work out, it's not directly inheritable - which is surely a big downside of keeping funds in there after you've retired? My situation is that I have (been) retired…
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Discretionary trust
I sincerely hope that this is the correct forum, if not please let me know and will move it. My son received a payment from the CICA and a part of this is in a Discretionary trust which was an insistance from the authority. My son is now 41 and his award was made in 2021 following the incident in 2009 when he was 25. There…
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Student loan, increase pension payments?
My daughter is 24 and in her first year as a qualified teacher. I don't know much about student loans, but they are in the news much more. She is not thinking about her pension at her young age, but I believe she earns around £35k. Would someone earning £35k be paying off a student loan and would it make sense to increase…
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New HL fee structure from 01/03/26
Just added a new thread onto the Savings & Investments board ( https://forums.moneysavingexpert.com/categories/savings-investments ) about changes to the HL fee structure. And so just in case anyone has a HL SIPP and doesn't visit that board then I thought I should post here too to as there are quite a few changes and I've…
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Retirement Funds - advice and ideas welcome
Hi guys, long time lurker here, looking for suggestions on how best to play my money in retirement. There's not much to play with to be honest but I am going to retire this year that's a definite. I'm 66 in July, full state pension due November 30th, currently working three days a week (I just dropped down from 4 days a…
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Fixed Term Annuities
Am considering going down the Fixed Term Annuities route when i retire - likely 3, with terms of 5, 15 and 25 years. Does any one have any knowledge of how far in advance i can secure the annuities? Using Money Helper website calculator the rates/figures look quite favourable at the moment, so locking in a decent rate…
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Teacher's Pensions Transitional Protection Payment
Hello, I was just wondering if there was anyone here who has retired from teaching and have received their transitional protection payment. I returned my form nearly 6 months ago and have contacted TP asking if they were still on track to make the payments within the 6 month window they had allowed themselves. I have sent…
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Income Tax on DB Payment
I have been drawing on a DB whilst still in work so have been paying 40% tax. I am now about to retire and will not be in the 40% tax bracket anymore. Do I need to inform my DB provider or will it all work out in the end?
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Regular Drawdown Interactive Investor
Question for those with Interactive Investor who might be using the regular drawdown function. Does it work like a payroll - do I get to specify a particular day of the month which the payment will be made, and this specifies the tax date and the date it will hit my account? So for example, if I initiate a regular drawdown…
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Between 'Buy In' and 'Buy Out' stage....
does a deferred member of a Defined Benefits pension scheme usually have rights to a statement/ongoing statements during this stage? Before a 2023 Buy In was secured, the scheme Trustee/Administrators provided Tri-ennial statements, with the next one due in 2024. Buy in has not yet reached full Buy out status (taking a bit…
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NHS Partial retirement and Redundancy 13/11/2025
I am in this position. I took partial retirement in March 2025, to get my lump sum for home improvement's to enable my husband to come home from the hospice, he unfortunately didn't make it. This seems so unfair. I haven't had a break in service 35 yrs in total I reduced my hours by the required 10%. I worked 37.5 hrs one…
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Pension carry forward
We’ve inherited my father estate when sadly losing our father last year. Although employed, I haven’t been in a company pension so haven’t contributed. Would it be best advice to use some inheritance to top-up pension contributions since 22/23, given the tax benefits? Edit: thanks for all of your replies. I’m 60, will be…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
735 discussions
6.4K comments
Most recent: State Pension Forecast and Buying Years by DRS1
20 February at 8:13PM
