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Pension stopped
Mum's work pension didn't pay out this month. We phoned the provider and learned they'd sent a form out to her old address back in October, which obviously she hadn't returned. So that explains part of it, although we're none the wiser about why it was sent out in the first place. She's since received the form, which is a…
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Redundancy Payment Methods into a Company DC Pension?
Hi All I’m looking for a bit of clarity regards to how an employer pays redundancy into a DC company pension. My employer is offering to pay a defined amount above the tax free £30K, from my redundancy settlement pay, into my current company DC pension. This is good news apart from the payment method they are choosing to…
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I have been left a £50,000 inheritance, I want to add it to my pension pot.
I have just turned 64, I have a part time job earning £1,200 per month and a small HM Forces pension and a little savings. I also have a personal pension with Aegon and have a pot in the £40,000's. I have just been left a £50,000 inheritance and I want to add this to my pension pot. Seems like a straight forward thing to…
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What to do with old contracted out pension?
Hello. I'm seeking views on whether it makes much difference which pension to access first in the following scenario. My wife will be retiring shortly (turned 60 in 2025). All the pot figures given below are approximate for ease of calculation. All three of the pensions happen to be with Aviva and allow the usual options…
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car purchasing in retirement
looking at info on what others are doing/plan to do regarding funding car replacement during retirement. We’ll likely drop to one car next year which will need both to be sold as her’s is too small and mine is too big for the other to drive :) so how to finance. logically we should estimate how long we keep cars for and…
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Small pots v ISA ?
Hi. I have a couple of old small pension pots of no more than 5,000 pounds. I am 58. Would it be feasible to take my amount tax-free and put it in a cash ISA as he's doing little or nothing where it is. Not very pension wealthy or pension wise so will be interested in opinions. Many thanks
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Looking to boost pension and not pay tax on savings
Im a 56 self employed carpenter and have £10800 in a people's pension. I have £20000 in ISA £53000 in cahoot savings account £15000 in RBS current account I have a further £45000 coming soon for inheritance. Im thinking of topping up my pension to get more tax free savings Is this the best option for me thanks
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Taking second AVC
I work in local government and when I turned 58 I started to pay quite large monthly sums into a cash AVC. At 60 I took flexible retirement, took my pension, and 100% of my AVC as a tax fee lump sum. I continued working ( part time) and rejoined the LGPS, and started a new AVC, into which I pay most of my new part-time…
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Self employed pension contributions & income tax question
Hi, I'm 55 and have been self employed for the last 2 years but have not yet put anything into a pension. I have a modest final salary pension pot of about £85k from a previous job and several small pots totalling about £8k. I expect my tax liability for 25/26 to be around £3-£5k Can I take drawdown from my existing…
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Private pension withdrawal for pensioner with only State Pension income: tax return / emergency tax?
My mum is 68 and has around £3,600 in a small Vanguard private pension. Her only income is: The full State Pension (which counts as taxable income) [EDIT: £11,973 per year as a single woman] Personal Independence Payment (PIP) (which does not count as taxable income) She has no other income or pensions, no pension credit,…
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Should I draw down max cash from personal pensions pots to utilise personal allowance this tax year?
Hi all, apologies in advance for long post/explanation! Hoping for some feedback and advice about my personal pension pots and whether it would be a good idea to draw down as much as possible over the next couple of years. This area is not something that I’ve paid much attention to up to now, because I also have several…
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I asked ChatGPT to simplify and sort out my investments
I have been looking at sorting out the isa/pension investments for me and my OH as they are currently across 3 providers (Vanguard - OH, interactive investor (me) and L&G (me) (ex-employer master trust in drawdown). Total approx £1m and not really used for day to day as decent DB in play. My allocation for the last 5 years…
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State Pension and tax code 2026/27
Couldn't make my mind up if better in the Cutting Tax board or here but decided here. New tax codes are arriving for 2026/27. If on the full new state pension it should show 51 weeks of new rate of £241.30pw plus 1 week of old at £230.25pw. Total should therefore be £12,536. Assuming no other deductions/allowances, tax…
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Drawdown plan
Please can you critique my drawdown plan? 1: Basic needs are covered by partners defined benefit pension plus an Index Linked Bond Ladder covering between retirement and State pension age. 2: Nice to have’s, holidays new cars etc etc are to be covered by a SIPP pot plus S&S ISA’s (x2 one for me one for my partner) 3: We…
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Mortgage, pension dilemma
I’m 65 in December and currently planning to work until 67. I took out a small mortgage just over 2 years ago for £50k, there is currently £29k left to pay at £968 month, the rate is 5.85% I have savings which I’m considering to use part to pay the mortgage off. The money that I’d be saving monthly on the mortgage I’ll…
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Consolidating various money purchase pensions
Hello all I'd welcome some general advice, the situation is as follows: My wife and I both have defined benefit pensions that will be our main pensions but in addition to these we both have several money purchase pension pots and I'm trying to work out what to do with these pots. We don't want/need to take annuities with…
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Gifts from surplus income and the 7 year rule
I need some help to clarify my thinking please? I have been gifting from surplus income for 5 years now. If I continue to make regular gifts in the years ahead and each tax year goes beyond the 7 year IHT rule, can I ignore the gift value for that year as "gifting from income" and just treat that value as being outside the…
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Late Retirement (despite financial independence)
Im hoping to retire early but seeing some people clearly working on through their later years (that arguably they dont need to do financially) has made me wonder about the psychology of those that keep working by choice into their late 60's, 70's and beyond. I recently worked for a Investment firm who's CEO (recently…
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Widow's Teachers final salary pension calculation
How is the survivor pension worked out for a widow, if her teacher husband died when reired and claiming his teacher pension, and was in the old final salary scheme. His service started in tbe eighties. What formula is used to calculate widow's tp. Thanks
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Class 2 not offered although fulfil the criteria ??
I have lived and worked abroad from end 2000 to current year with two periods of unemployment. Prior to moving, I worked in the UK for 13 years and up to 6 weeks before my move to France (because of searching for a place to live in France and organising house sale and removal in the UK). I sent my CF83 beginning March 2025…
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Most recent: IHT on Pension Pots after April 2027 by garybaldy
16 May at 2:18PM
