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Paying £2880 into pension when retired
Jamesd wrote in another thread the following: "She can make £720 a year tax free by paying 2880 net into a pension, having it grossed up to 3600 then withdrawing it. Can only do the withdrawing part from age 55. Can only pay in for this until age 75." I have just retired at 60 and have transferred my DC pension to a new…
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Moving pension from st James place.
Hello I have a pension with St James place and I was thinking of taking control of it myself. I was looking at putting it in a SIPP someone like Aj bell.Was wondering if anybody had done the same thing with their pension.
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Aviva final bonus query
I've got an old deferred Aviva stakeholder pension. It's worth £189k and given that I will likely be drawing from it from 2030 to 2040, I've recently de-risked from what was almost all equities plus some old with-profits, to a more balanced set of funds, retaining the with-profits fund. I am contemplating moving to an…
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I've had confusing pension advice - help!
Hi All, I wonder if you can help. I have had two advisors state different opinions, and I could do with some clarity. In simple terms, is it better to pay £320 a month into my pension each month for the next 10 years, or is it better to put £38,400 (the equiilent amount over the 10 years) in straight away and then no more.…
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over paid tax deductions
I receive NHS pension pay every month and had a second job which was terminated 15 Dec. Checking gov gateway for my tax pay...i noted that £719.16 was deducted in tax (for January) from my NHS pension despite my tax code being 1257l. That being 50% deduction in tax. (normal tax deduction is £78.40 monthly) After several…
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Aviva - choosing funds
My employer made the decision to leave the TPS just over a year ago. I have accrued roughly £17.5k per year DB pension from 68, or £12k if I go at 58 (which is the current plan). I am now paying into a DC pension with Aviva. I’ve turned off lifestyling and decided to come out of the default fund a few months ago because I…
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Self Assessment Confusion - Says 'No Tax to Pay'
So I did my 23/24 Self Assessment on 2nd January and my calculation shows I owe about £2k of tax for 23/24 and £1k on account for 24/25. Makes sense - EXCEPT my account balance says 'NO TAX TO PAY'. I've spent hours online trying to figure this out, why can't it be clearer HMRC !?! First I thought it would filter through…
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CETV for DB pension for divorce
Hi hoping someone can advise on whether I’m missing something. I’m preparing for divorce and want to know the value of my DB pension. It’s a closed private sector DB scheme administered by WTW. I’m a good few years before I can draw from it. It’s about £26k/y last annual statement. I also have DC components in the same…
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SIPP part Crystallised and Future Contributions
Hi All, I'm getting confused on what my limits are for contributing to a pension after I part crystallise and take a 25% lump sum. If for example I have £400k in my fidelity sipp, and I crystallised £100k of this I belive I have two pots.. one of £300k and one of £100k. If I then take £25k tax free out of the £100k pot,…
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Types of pension
Can anyone define the categories of pensions? I only have 3 :smile: Standard life workplace which is no longer active and has no fees except the fund fees. They said I can change it to a ppp if I want to bring in anything else (transfer in). Scottish widows workplace limited funds via Royal mail. Has a nmpa benefit which…
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DB Scheme and Minimising Future 40% Tax - What makes most sense?
Hi All, Have finally decided (99.99%) to retire in June 26 at age 62 and now considering options. I'm very fortunate to have 2 DB pensions which based on my most recent forecasts from the provider pay as follows at age 62: 1) £38.2K full pension or £27.8K and £185.3K tax free cash 2) £9K full pension or £7.2K and £32.7K…
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NHS pension - not sure whether to take standard or maximum lump sum
Hi all, I've seen some good informed discussion about NHS pensions here (such as https://forums.moneysavingexpert.com/discussion/6464889/nhs-pension-1995-section-delaying-retirement which helped a lot) and hope you can help with this. Partner is 61, in both 1995 section and 2015 scheme and wants to go for partial…
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L&G Workplace Pension advice
Hi, First time poster here. I have a workplace pension which is L&G PMC 2035_2040 Target Date Fund 3,I have had it since May this year, it has seen a gain of £798.87 (8.73%) I have no clue about investing or pensions and just wanted some advice and opinions about if this is a good fund and if anyone has any recommendations…
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Backpay on pension for women
My mum passed away a couple of years ago and then I saw about women possibly missing out on some pension if they were a certain age. I read it fully and also realised, as my mum was poorly, a lot was going on after my father passed away within weeks of going into hospital, we had never claimed the extra top up she was…
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Stocks & Shares and LISA for retirement
I’d really appreciate some advice about my Lifetime ISA. I already own my home, so I opened the LISA purely as part of my retirement planning — but I’m starting to question if it’s still the right choice for me. My goal is to start going part time around age 55, then fully retire by 60. I’d plan to use either my LISA, my…
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UFPLS Risk Warnings
Whenever I take a UFPLS withdrawal there's a form with a few straightforward questions, but also a few trick questions where it's not really obvious what they're expecting. This year one was .. "Will the money you are taking from your pension fund be your sole or main source of wealth in retirement?" I am a bit surprised…
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Approaching LSA - pension still the most tax efficient way to invest?
In the last few years I've been maximising my pension contributions with a plan to retire in July 26 age 56. A recent(ish) inheritance and house sale means that I also have quite a lot of funds (several 100k) outside any tax wrapper after maxing out my ISA allowances. We've also been maximising my wife's pension and ISAs,…
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Lump sum pension advice
Hi guys im just in process of helping my mum sort her pension out. She's currently 65 and will start receiving state pension from april 2026, she hasn't worked for the last few years and hasn't used up any of her £12570 personal tax free income allowance in this tax year. If she was to draw her 25% tax free lump some from…
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What to do with all your time?
I thought it might be interesting to get some perspectives from the hive mind here running: might help others. We all know that those who have bitten the bullet almost all wonder how they had time to work, but perhaps this thread could give others ideas? Not wanting to focus on the financial aspects - most threads here do…
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New Year Resolution
After reading many posts and absorbing all the very useful information - for which I am very grateful - I am minded to set up a 10 year ILG ladder in the New Year with the 50% of my total pot held with Bell. The other half will remain 100% equities ( global/US trackers mainly) held with HL. I am 61 and still working but…
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: Voluntary National Insurance contributions by pinnks
15 January at 11:27PM
