Pensions, annuities & retirement planning

Read the full story: https://www.moneysavingexpert.com/news/2026/09/state-pension-rise/

Has anyone used an AI tool to validate their projection numbers? I used chatgpt and found it very interesting and useful, especially how resilient my pot would be in a crash and adds another available tool for pension planning with the obvious caveats.

Hi I’m 57 retiring in Jan 27 and will start taking my local gov pension (£20,000 p/a) and I have rental income (£10,000 p/a) I’m currently employed earning £59,000 but paying £3000 p/m into AVC via salary sacrifice. I’m worried I’ll be over £50,000 threshold and have to pay 40% tax on my local gov pension. Do AVC/salary…

I am going to receive a redundancy payment in a couple of months and have now effectively retired a few months earlier than I originally intended. A couple of people have mentioned that I should consider putting some of the payout into my pension but they don't necessarily have all my details. I am minded not to do this…

I'd really like some advice regarding pensions and savings accounts for when I get to pension age. I'm 43 and I've always suffered from anxiety and depression from a young age and I've never been able to hold down a job. I went to see a therapist when I was younger and realised the only way my life was going to get better…

Hi all, Finding this site and the help/guidance/tips I have received has made it easier for me to navigate through the Pensions Minefield! I have just over 2 years till I take retirement at 60, this could be just over 1 year as there is talk of redundancies in March 26. I have SSAVC's which has been invested in…

My NHS ill health retirement application has recently been approved, and I’m now weighing up whether to take a larger lump sum with a smaller pension or the other way around. I’m unsure about any tax implications. My employer says the lump sum is tax-free, as the limit is £263,000, which I wouldn’t exceed. I’m thinking…

Good evening, Searching the forum, most of the entry's are at least 5 years old. Does anyone have recent experience and success on this type of transfer. I have set the wheels in motion to meet financial advisors for initial consultations and potential costs. I'm 53 and looking to retire at 57 if I can transfer the defined…

I'm wondering if there is anyone that has taken partial retirement at 50 from the NHS from the 1995 scheme? I have been working at the top of a senior band for the past 10 years but cannot face continuing in this role for another 10 years. If I take a lower banded post it will affect my pension at 60 as the 1995 scheme is…

Each month I check the L&G App to see what the value of my AVC fund is, after the contribution from the payslip at the end of the previous month has been added. In most months, the contribution is recorded by about the 12th of the month. Last month, it was the 14th. However, it still hasn't arrived for this month (4pm on…

The wife transferred her final salary pension to Standard Life several years ago, using an IFA. Other than responding to requests for flexible drawdown (once or twice a year) and making sure there is enough cash to pay his (and other) fees he doesn't appear to do much. It's still in the same investments as day one. They…

My wife and I retired a couple of years ago, her at 57 and me at 59. We both have final salary pensions that are tripple locked, her currently £16k and me £25k pa. The lump sums we received have dwindled; we cleared the mortgage, replaced our kitchen, changed a vehicle and had solar panels / heat pump installed. We top up…

I am not working and have a small Standard Life pension pot. I withdrew 25% tax free last year, I am leaving the rest of the money 13k invested. Can I add £2880 to the pot each year and be given tax relief up to £3600 even though I have no earnings? Thank you

I'm 55 in 3 months time and want to take my Defined Contribution pension at that age. There's £60000 in it - of which I want to take 25% tax free as cash. I know exactly what type of Annuity I'd like. I've looked at comparison sites to see the variable rates that are currently on offer. I seem to be drawing a blank as to…

Can you top up Sipp and then put it straight into drawdown without incurring any penalty from HMRC? It just seems a bit cynical to me. I made an employer contribution of 25k from my Ltd Co on 8th of April. I made a personal contribution of £2880 a month ago. I made another employer contribution of 5k today. Can I put the…

Back in the 2021 budget the government announced it would tackle the low earners net pay scheme tax anomaly, now called the Low Earner's Pension Payment. The anomaly was that low earners in a 'net pay' scheme (i.e a workplace pension scheme used by many employers where pension contributions are deducted from your salary by…

Say that I have SIPP above the old LTA (Life Time Allowance). Also say that I crystallise enough to receive the maximum tax free cash - I believe that it’s called the LSA (Lump Sum Allowance = 25% of old LTA). The crystallised amount less the LSA is put into a drawdown pot by my SIPP provider (AJ Bell), for later…

I'm getting very confused helping someone with their Self Assessment tax return and the state pension. Firstly, although everything seems to say the pension increased 6.4.26, it actually seems to increase the next full week, not mid week. In other words, if a pension is paid Thursday - Wednesday, the uplift is effective…

A friend asked me to post this, and if any of you lovely people could offer any thoughts; Does a full withdrawal from a New Zealand KiwiSaver scheme by a UK-resident individual, who became UK resident in September 2019 and has never received UK tax relief on KiwiSaver contributions, constitute taxable foreign pension…

I turn 55 a week before the pension age increase on 5th April 2028. I’m looking to move my DC pension of £600,000 to a provider with a slick, well defined process to claim the TFLS and crystallise the whole pot before the deadline. Note that it doesnt matter if there are delays in receiving the TFLS as long as I can claim…