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Teachers Pension - Less than 2 years qualifying service.
I was a college lecturer from January 2015 until October 2016 and was a member of the Teachers Pension during that time. The minimum qualifying period for Benefits with the Teachers Pension is two years so I'm trying to find out what's happened, and what to do, with the contributions made during that period. All I can find…
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AVC contribution into a Final Salary scheme
I'm an active member of a final salary scheme, and I'm now facing redundancy. I'm looking to understand whether I can make a one off AVC lump sum contribution of £100k, and use carry forward to make use of unused annual allowance from previous years. I'm hoping someone is able to answer my question.
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National insurance transfer from spouse who had been registered for child benefit
Wondered could you help. I am a 59 year old male. I need 4 years NI contributions to receive full pension. My wife already has 40 years contributions. Was wondering how far back can I request transfer of my wife's NI contributions which she received for our daughter's child benefit. My daughter was born in August 2004. Was…
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SIPP withdrawal
Has anyone done a withdrawal from Vanguard recently? Last year when I did mine I was able to take my money from any fund that I had in my pre retirement account, this year they have told me the money has to be taken proportionally across all the funds held. When I questioned them they said it had always been the case, even…
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What to do with SIPP (no dependants)
Background details: I'm in my late 60's, in good health, no dependents, have a SIPP valued at around £120k. Total estate on death is currently marginally above IHT (excluding SIPP) but way over IHT threshhold (by about £120k) including SIPP. So, essentially, the SIPP portion of my assets is above the IHT threshold. The…
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Rising Equity Glide Path vs Annual Rebalancing of a retirement portfolio?
Anyone looked into using a rising equity glide path at start or retirement to counter sequence of returns risk? In the Timeline retirement planning app I modelled a portfolio shift to 55% equities and 45% MMF at start of retirement and set the drawdown to consume the MMF first vs a 80/20 equities/MMF portfolio that is…
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HMRC have lost record of some of my contributions
I worked in the same job (on pretty low pay but very long hours) from 1983 until 1991. Recently I checked on the government website what I should be receiving in terms of state pension as I will be 60 this year. It claims that I have three missing years of contributions from 1984 - 87. This is not possible as I worked in…
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DEFERRING STATE PENSION
Hi, I like others have found the Gov website on this unclear. And I am eligible to claim a state pension from early May 2025. I do not work (carer) but have amarginal tax rate of 40% as I receive rental income from my property while I live with my father looking after him and his home etc. . I do not need the pension at…
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Cash In Pension which Tax Year
If you cash a Pension in say this Month is the Tax payable at the point of cashing in or when you actually get the money ? If I cash it in today and don't get the money until the new Tax Year will it count as Income in the current Tax Year or next Years ? Many thanks.
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Pension Tax Relief
Please advice ... I have so far only taken a couple small amount of UFPLS lumpsum (i.e. not drawdowns) from my defined contribution pension plan (SIPP) in the last 2 years since my retirement (I have stopped working since then). I would like to contribute some money back to my SIPP to take advantage of pension tax relief.…
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Deferred defined benefit pension increase after NPA
I have a public sector pension that I have deferred and it’s now 4 years past my NPA for this pension. since NPA the value has not increased with inflation. just curious if this a common feature. I know they will pay (taxable) the yearly amount when I opt to take it but it does seem strange that there has been no yearly…
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Source of funds?
My wife is trying to withdraw a few thousand from a Wealthify savings account ironically to pay into a Wealthify SIPP (can't do it directly as Wealthify only allow one linked bank account across all your accounts). When withdrawal has been requested Wealthify are asking for proof of where the money came from. It was an ISA…
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PIE confusion
Before I go to an IFA, just trying to get my head round pension options as the PIE offer seems to be better than the alternative, but not sure how to calculate properly to compare. Option 1 (non-PIE) is annual pension of £17,684 Annual increase elements: 0% on £14,743, 5% on £816, RPI (max 7%) on £2124 Option 2 annual…
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Annuity quotes - don't understand
I've just got some annuity quotes from the moneyhelper.org.uk site and I don't understand the relative rates between them.I did a couple with my wife as joint life and got a better quote for 50% payment after first death than for 100% as I would expect. Then I did one with just my own life to see how much it would improve,…
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People's pension AVC's
Hi All, New to the forum. I am semi Retired but still work P/T. My employer stops Pension contributions which go into my People's Pension pot. I am paying appropriately £200 extra AVC's a month. Am I better off doing this or putting it into a regular savings account. I can't see anything on PP website about interest…
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Will a lump sum from a pension affect Universal credit payments?
if I am 3 months from retirement age, and receiving universal credit, can I take the lump sum (less than £1000) from a pension fund, without it affecting my universal credit?
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"Retirement Age" fixed ?
So, I'm just (hopefully) completing a transfer to a DC scheme. The IFA has filled out the application forms for me and I noticed it says "retirement age 60". Now that is probably about right, but is that fixed and should my needs change would I likely be able to change that (to as low as 55) ?
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LGPS APC v SSAVC v Private arrangement
I am REALLY struggling to understand the difference between the above I want to start contributing more to my pension as I am 53 but I’m struggling to choose the best place to put these contributions. i am currently paying the minimum into my employers LGPS scheme. They also offer a SSAVC. I could pay into either of these…
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25% Tax Free Lump Sum Withdrawal: Any Advice?
I’m at that age and reached out to my pension provider about withdrawing my tax free 25% lump sum - they said they’d arrange for an adviser to speak to me. Are they mandated by regulation to do this or is this them trying to dissuade me or upsell other products?! I don’t want anything other than my tax free lump sum - is…
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Consolidation ahoy, but some questions occur about Interactive Investor and Vanguard
Hello all. New to the forum. :smile: Ahead of starting to use my pension to fund my proposed lavish retirement lifestyle of visiting tea shops when there's a pensioner's special deal on, I'm looking to find the 'best' SIPP to eventually consolidate 4 DC pots into (totalling around £600k). Using flexi-access drawdown with…
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Most recent: Help! HMRC State Pension Topup Callback by SVaz
16 October at 11:48AM
