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Pensions, annuities & retirement planning

For help with everything to do with pensions and retirement.

Pension contributions and tax
Higher rate tax payer with company car and medical benefits. I'm looking at finding the sweet spot for salary sacrifice pension contributions where it leaves my take home pay as close to it is now by upping my contributions but reducing my tax as a result. Does anyone know of a calculator that could help me with this ? And…
Retiring early with a small "pot": can it be done?
I'm hoping to read the experience from others who have retired early on a small retirement pot, or a small monthly "income" after retirement. I am desperate to stop working and although I think my numbers work on paper, I need reassurance it can be done. For context, I am in my early 50s, currently self-employed, working…
Workplace pensions after leaving a job, and the country
A little background. I am 55 and, until 6 years ago I was a teacher. I moved around and worked overseas so my teachers pension isnt great but would get me through the bills each year. For the last three years I have paid into a workplace pension (Royal London) but I am leaving at the end of July 2025 to move to…
Cash in Pension in one go for full amount
Hi I wish to cash in my pension in full. I was informed by my pension company that I need to get financial advice. The financial advisor told me to deal direct with my pension company as the would not give advice to cash in all in one go and neither would any other advisors. He also informed me that it is possible to do…
Pension plan - divide pension pot by 20?
Hi, Probably because I'm not in a great place right now stress-wise, I've started to wonder about the following for peace of mind. For context, I'm sure I've read about the dive in people's ability / desire to travel and generally aspire to a particular 'wealth-based' style of living over 75 / 80. Having saved quite…
UFPLS - Tax
Hi, If i use UFPLS to take periodic lump sums - does the lump sum get taxed at the rate of 75% is taxable ( and if so what rate gets applied? )
Pension redress
Hello I would like to know if anybody on here has under gone a pension redress calculation and then successfully challenged it when it was found to have been fraudulent to avoid payment of redress. My partner has decided she wants to challenge a calculation completed via conguent software. I know there are many cases of…
Teacher's Pension Scheme (TPS), errors on statement
I would appreciate anyone looking at the following details of a friends TPS pension statement. I have DC pensions, but follow this forum a lot and have a reasonable understanding of DB schemes. My friend ask me to help them understand this. I can't reconcile the figures at all… To me they look like obvious errors, but…
National insurance
Hi I currently earn £10,000 from my part time job and am nearly 55. I have looked at my state pension forecast and I need an additional 5 years NI contributions to get the maximum amount . What is the threshold of paying NI and if I am under can I pay in monthly now or is it best to wait when I am ready to retire at 67 and…
CSPS Premium – calculating Final Pensionable Earnings
I'm afraid this is a rather niche query. I have had two previous questions expertly answered here by Hugheskevi and thought I understood the scheme rules. I recently contacted the CSPS contact centre and was concerned when they had different thoughts on the Premium rules and kept talking about the best of the last three…
NHS PENSION 2015 SCHEME OPTIONS
Hi I am 64 in 2 weeks I have been with the NHS for 1 year and have a very modest salary at 24k but it works for me having come out of sales more money but burned out with it all. I have had a quote back from the NHS pension 2015 scheme on DC pots worth £137,000 they have come back with an offer pension credit £396,487…
Awful customer service
Unhelpful as was the Lloyds Bank branch in providing witness to signing service. I was given incorrect advise to back to Lloyds Bank again to get proof documents witnessed by Clerical Medical for Clerical Medical. (LLOYDS BANK SAID THEY NO LONGER PROVIDE THIS SERVICE) Also asked if proof document can be emailed but the…
Frozen Pension
Can a Pension company extend my retirement date by years? My pension has changed companies over many years, I was able to login to the old Capita account and it states normal retirement age 2029 and the new company states 2032, Is this allowed? Thanks
Is it worth paying into a pension when you're aiming for early retirement?
Hello there, I'm an MSE Forum newbie and hoping MSE wisdom can help me. I'm sorry if my questions are incredibly naive. We (me and husband) are planning early retirement. We're looking at retiring at 48. We have workplace pensions that are projecting £30K total (so £15K each) income if we take them at pension age. While I…
DB Pension and TFLS Calculation Question
Morning All, I have received the following figures for a DB pension that I can take in March 2026. A ) 33,712.18 per yearB ) 23,296.35 per year and £159,508.99 TFLSC ) Unknown Pension and any TFLS lower than in B Is there a way to arrive at an approximate salary based on taking TFLS below the allowed 25%, say for 10% or…
working but have triggered MMPA. How much can i invest in my pension ?
I have triggered my MMPA as i am taking £2,000 a month from my pension that is being taxed on. I am currently working earning £20,000 a year. Can anyone advise me how much i can invest into my pension? Thanks in advance
State Pension - Wife was refused her pension because older than husband by 5 months.
My mother had her 60th birthday in June 1992 and my father November 1992.Because my father was younger than my mother by proximity 5 months, my mother did not get her state pension until my father was 65. Meaning my mother lost out on five (5) years of state pension. This can not be correct, if mother was 60 a day after my…
Tax Relief Payments - Workplace Pension
Hi everyone. I'm new to trying to understand my pension, which at 35, I'm ashamed to say! I'm trying to work out what my number needs to be at the moment so factoring in how much I need to contribute from now until retirement. Looking at my pension providers website, it shows me the contributions to my fund, Mines, my…
Pension
My company operate a pension scheme where by my pension is calculated not on my salary but by the average salary in the company. Is this legal? Help appreciated.
Gilts v annuities
Now one can buy a single gilt delivering ›4% for 30 years or more, is there any point in annuities...

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
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.

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Pensions, annuities & retirement planning

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