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Pensions, annuities & retirement planning

For help with everything to do with pensions and retirement.

Maximum Pension Contributions
Hello, please might I check what the maximum pension contribution is? I am employed on £85k making 15% contribution and employer makes 20%. I also have a limited company which I’m making contributions from, with the intent to close this. There what is the maximum contribution I can make. Is it £60k or is it more from…
Workplace Pension approaching retirement - should I take control?
I’m 58 and perhaps a year or so from early retirement. I have a SIPP with around £300k in it (70/30 shares/bonds) which I do not currently pay into as I am utilising salary sacrifice to pay as much as I can (55% of my salary) into my workplace pension. The workplace pension is with Scottish Widows in one of their default…
Withdraw lump sum from Pension BR tax code.
…………zzzssss
Non-payment of pensions
I started with a company in 2016. and worked there for 8 years. It was in my contract that pension would not be paid for the first 6 months which was allowed at the time from my understanding. Does anyone know what the employer should have been paying in prior to 6th April 2019? Was it 2%? If the pension was not shown on…
Puzzling DB Pension Forecast
I have a small FS DB pension resulting from a short period of employment from late 1980s and am now invited by the administrator to explore my options using their shiny new calculator, including taking the pension in 18 months at NRA (60), taking it early or deferring it. When I do this I get surprising results. My pension…
Standard life pension website and app not working
If you are considering taking out a pension do not go near Standard life. Since December we have not been able to access my wife's pension and payments to this account are missing.If you thought they would care then you are mistaken. You get promised a call back as the person you speak to eventually cannot access the…
Deferred benefits Local government pension
Hi I am in the process of completing my deferrerd pension payment form so I can take my small private pension at 55 and still work part time. I am not sure whether to take a lump sum of 25% tax free which will allow me to do home improvements and buy a much needed car or have a smaller lump sum and get a loan for the car.…
Best way to approach 40% relief on SIPP
I’m currently paying LGPS & AVC pension direct from salary. At some point, this is likely to generate too much pension in that AVC pot. (As limited to 25% tax free, and/or buy additional DB) What I want to do is probably switch focus to building on my existing SIPP pot - which will bridge me from 57->? range. I understand…
Opening pension and tax
I'm self employed and for this tax year ending in April will earn more than £1,000 in interest from savings. If I start a pension and put the interest money into it, will I have to pay tax on that money?(I've used my ISA allowance for 24-25 and am a basic-rate taxpayer.)
What is a 'good' return ?
This is the current performance of my DC fund, approx 2/3 in Diversified Growth fund and 1/3 Equity: These are LifeSight managed funds as part of my Company scheme and apart from selecting the funds and the % split I don't have to do anything else. In terms of fees/charges then the last 12 months have cost me approx £450…
Henderson Rowe reviews? SIPP management
Hi all, Looking for Henderson Rowe reviews after a disappointing experience with SJ*. Currently have about £600k in SIPP and 5 years from retirement. Found them while researching alternatives - their website talks about institutional-quality investment strategies and technology-driven approach. Sounds interesting but…
Pension Providers
Hello, i am retiring this year and my current 2 pension providers do not offer draw down, which is the way i want to proceed. I have looked on the market and only ones i can seem to find are SIPP providers. I would like my new pension to be managed, as i don't feel confident to do a DIY. Has anybody had the same…
SIPP/Savings
Just checking I've got this right. Is there no point in me adding money to a SIPP, that's just held as cash, given that I'm never going to have any spare tax free allowance? So, say if I have a spare £500 at the end of a month. I could move it into a savings account, or the SIPP. If I use the SIPP, then when I take it out,…
Use of Dividend tax allowance
Am I right to think that if I purchase an ETF that pays dividends like HMWO, just before the dividends validity date (can't remember the technical term), I will get the full dividend payment even though I didn't own the ETF for the full period (albeit that I'll pay extra for the ETF as everybody knows that the dividend is…
Tax free lump sum or not
I’m trying to work out whether it’s beneficial take a tax free lump sum next year at 55, pay off a small mortgage, buy a new vehicle , versus doing the same, but using non-ISA savings currently with momentum, keeping options on my pensions. I didn’t plan on paying any tax going forward with a combination of personal and…
Working out tax on more than one pension - HELP
Hi - I wondered if someone could help me, I'm trying to work out what tax I will pay if I get lump sums from my two pensions? I know that I get 25% tax free but I'm confused about my personal allowance and how its all calculated. Pension 1 is 23k and Pension 2 is 20k. I would like to get a lump sum because I have a lot of…
Transfer SIPP into stakeholder pension
I have a small SIPP with Fidelity, I set it up about 12 months ago. Was looking to transfer it to one of my Aviva stakeholder pensions.Would this be possible? I make my main pension contribution via salary sacrifice (42% tax saving) to Aviva. Think it makes better sense to increase my contribution there, rather than paying…
Best use of DB, DC, ISA, and savings for retirement at 60
Male just turned 60 and recently retired. Enough cash in hand to last until end-AprilDB - £24k p.a. if taken now. £30k p.a. if I wait until 65. DB AVC £80k. Passive in global equities. I can take this as the DB TFLS without affecting the DB value.DC - £240k. Passive in global equities.ISA - £420k. A few individual shares.…
Pension pot in overseas scheme - tax treatment
Would a pension pot held in a US retirement plan by a UK resident be liable to UK tax before reaching pension age? I'm only referring to the tax liability of the pension pot itself and its growth, not of any actual pension or lump sum withdrawn from the plan (which will of course be taxed when received).
Annual Allowance - SIPP
I want to put into a SIPP as much as I am allowed. I am in a defined benefit scheme and have a calculator to work out how much my pension has been added to. But until the end of the team year I will not 100% know the figures, just a pretty good estimate. Am I correct in thinking that I must put the money in this tax year…

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MSE News

Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payments this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
Which NatWest and RBS branches are closing from 2025? Here's the full list – and banking alternatives
NatWest and Royal Bank of Scotland (RBS), which are both part of the NatWest Group, will shut at least 108 of their bank branches in 2025 and beyond, after the Group announced a further 52 NatWest closures.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
Winter Fuel Payments will be reinstated to all pensioners in England and Wales this winter – but will be clawed back automatically from those earning over £35,000 a year, the Government has confirmed. It means nine million pensioners will get the £200 or £300 top-up. MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis.
Car finance mis-selling update: regulator prepares for compensation scheme – and warns against using claims firms
Payouts for mis-sold car finance could be another step closer as the financial regulator has set out the factors it will consider if it were to introduce an industry-wide redress scheme – though we won't know more about how this will work until after a key Supreme Court decision expected in July. In the meantime, the regulator has warned that you DON'T need to sign up with a claims firm to be included.
Winter Fuel Payments to be extended to pensioners earning £35,000 or less – here's what we know so far
Winter Fuel Payments will be extended to all pensioners with incomes of £35,000 or less this winter, the Government has confirmed. It means nine million pensioners will get the £200 or £300 top-up.
Winter Fuel Payments extension confirmed for this winter – watch Martin Lewis' instant response and his message to the Chancellor
Winter Fuel Payments will be extended to more pensioners this winter – though not to everyone – the Chancellor has today confirmed. However, exact details of who will now qualify still remain scant. Watch MoneySavingExpert.com founder Martin Lewis give his instant response, as well as his key message for Rachel Reeves.
Nationwide Fairer Share: Free £100 bonus confirmed for 2025 – here's who will get it
If you bank with Nationwide, you could get a free £100 paid into your account in June or July as part of the building society's 'Fairer Share' scheme. The bonus will be paid to millions of its current account customers who also have savings or a mortgage with it.
Forced onto a prepay energy meter? You may be due money back as 10,000s to be compensated
If you had an energy prepayment meter forcibly installed or your smart meter was remotely switched to prepay mode without your permission, you could be entitled to compensation of up to £1,000 and may even be eligible to have your energy debts written off.

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