-
Accessing Local Government Pension but continuing to work
I am taking voluntary redundancy from my Local Government employer, but am also old enough to access my pension - so will be receiving redundancy and a lump sum based on pre-2014 service, and then a monthly pension. However, being just over 60 I still feel I have more to give in a working capacity for a year or two, so I…
-
Transitional Tax Free Amount Certificates
I have two DB pensions that I took some years ago. I maximised the ongoing benefit by taking no tax-free cash. Lets say the LTAs were 20% and 40%. I am now considering taking tax-free cash from a SIPP. Even if the SIPP provider assumes that I did take lump sums from the DB Pensions, I can still take 25% of the value of the…
-
NI Top-up. What Now? Advice Please
I followed ML's advice to check my NI contributions and found 3 full and 1 partial year missing. The info said that I could not pay online. I duly tried to phone the DWP (don't laugh) and then filled in the return call form in mid-March. On 16 April I received a text saying the DWP would phone me between 0800 and 1800 on…
-
Tax-free lump sum
I am in a LGPS (local govt) pension scheme. I can see what pension I will get etc. However, it does not tell what the total pot is; I need to know this to work out tax-free lump sum.As per regulations you can only draw 25% of the pot as tax-free. So if I dont know the pot I cannot plan my retirement and how much to take as…
-
Pension income crept into higher rate tax
I am somewhat annoyed that because of previous increases in pensions both Military and State have pushed me into the higher rate tax bracket. In particular, for the first time since retiring over 15 years ago my total pensions received for the coming 12 months with be LESS than last year! I believe this is as a result of…
-
company sold
hi all can anyone advise what is happening company i used to work for is now being sold to an american company i have a db pension i am not claiming yet, will the conditions just carry on as normal
-
National Insurance Out Of Country Gaps -Call Back
I'm really sorry if this has been covered somewhere. I had 4 missing years of contributions and so went online to pay. I was doing a degree and then working in different countries in each of those years, which meant that I couldn't pay, I had to opt for a call back. But I didn't take a screen shot of the call back, which I…
-
Equitable Life Pension
a relative lost a pension pot in the 90s - any recent developments or avenues to explore to help them get some back ?
-
Working part time & taking pension early
I'm 58 & currently in a superanuated pension scheme which I've been in for 34 years. I'm thinking about going down to 3 days work & taking my pension early when I'm 60, but then I'll be paying into a new pension based on the 3 days. Can I continue working 3 days indefinitely until I decide to retire altogether or is there…
-
SWR and age starting drawdown?
Dumb question, but does the SWR rate vary by the number of years you expect to be drawing down? So a 3.5% "SWR" may be suitable for someone in their early sixties, but too conservative for someone fifteen years older, and too agressive for someone in their fifties.
-
Moving from Royal London to another platform - how to avoid being out of the market for too long
B-in-law wants to move RL SIPP to passive tracker. He is looking at Vanguard Global, HSBC FTSE All World index or SPDR MSCI ACWI IMI ETF. If he moves directly to Vanguard platform I think the transfer is in cash so potentially out of the market for 30 working days according to website. Does anyone have experience of moving…
-
Help filling out Form P55
Can anyone who is familiar with the P55 form help with this very simple query. I have recently drawn an UFPLS payment using the classic figures. Total of £16,760, therefore 4,190 tax free (25%) and £12,570 taxable. £3,987.45 has been deducted in tax and since I will have no other income this year I need to fill out a P55…
-
Working post retirement
Hello all, I am 64 and have retired with a pension of around £35k and a DC Fund of £450k (only taken the tax free element). I have been offered a part time WFH IT role hours and work to suit and have decided to go for this for the next nine months or so to help with a planned house move. i am under a umbrella arrangement…
-
DB 15k at 60 or 20k 65?
My first question on this forum. I’m 57 and have the title options to consider. I realise I’m not providing much info but as your answers/questions arise I will answer as best I can. I’ve been a lurker for quite some time and have been impressed with the quality of forum debate. Thanks in advance.
-
Tax refund
Quick one, I’ll be paid up to the 27th may and then I’ll be on ISA and SIPP until my lovley DB in three years. I’m a higher rate payer but will be in the 20% band this year. Will HMRC sort things out and pay back the excess income tax I’ve paid at some point this year or will I need to wait until next year and force it…
-
Early retirement - a smorgasbord of pensions
I'm in a position of, courtesy of a "near miss" health scare a couple of years ago, contemplating early retirement, 10 years before SP age. Despite having pretty lousy employer pensions for much of my (well paid) working life with a fair smattering of different companies, I reckon I can still jump early. Being told thirty…
-
Deferred company pension schemes at 60
I have 4 pension 3 deferred company pensions and my current local government pension which as I am still working is still being paid into. I have 2 company pension which say that as I am 60 I can start to take them. Oxford University Press Options 1) take you benefits as a yearly pension £3,174 2) take tax free lump sum of…
-
Deferring a State Pension
Hi Just trying to work out if it is worth deferring my state pension by a few weeks. I have seen conflicting advice on this. Some say that if I defer by 5 weeks I would get a 1% boost on my monthly pension, but other say 9 weeks. Can anybody tell me which is the correct one? I appreciate I would then have to work out if…
-
Extra payment into private pension
Hi, I have a annual salary of 44k and futher investments of 12 k,obviously placing me into a higher tax bracket,any ideas of basically how much extra I would need to contribute in a year to my pension to lower myself into the basic tax bracket,and do I need to claim any additional payments back through HMRC,thanks kindly .
-
ii SIPP in drawdown
I was after anyones experience of initiating drawdown from an Interactive Investor SIPP. I was thinking / hoping you could keep funds invested whilst in a crystallised pot, e.g. you might crystallise a few years worth of funds, then turn them into cash when closer to actually transferring to your bank monthly . I was…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
724 discussions
6.3K comments
Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
4 December at 1:45PM
