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Salary sacrifice
Hi All. I’ve been asked if I want to opt out of salary sacrifice, as my company has just taken it up and is auto enrolling everyone with the option of opting out, I’m on more than 50k but don’t really get the explanation they sent, my suspicious nature says it will benefit the government and my employer whilst only…
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Royal London (ex CIS) with GAR
As title, I have a small ex CIS pension with RL which has a GAR associated with it at age 65. I an 58 and have been retired for 3.5 years with a DB pension which puts me in the HR tax bracket. Our IFA has advised us to increase our spending, so the RL pension is wholly unnecessary and we had thought of cashing in /…
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LGPS Pension
Hiya, Question. If you are made redundant on 31st May before the LG pay award is agreed. Do they recalculate your pre 2008 pension when it is with the new salary? Thanks
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Transferring into Alpha Civil Service pension
Has anyone else experienced extremely long waits transferring in to a civil service pension plan? They give civil service employees 12 months to transfer in from previous providers, which seems like a long time, but the service is, for want of a better word, painfully tedious. I joined the CS in mid-August last year, and…
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Mother's care
Hi, My mother is currently in a care home which she is funding from her savings and when they run out she has a house which has been valued at £90,000 I have Power of attorney over her finance and welfare and it's been suggested to me that I should buy her house for £50,000 so that it ceases to be part of her estate and…
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Online LPA - Help!
In my wisdom, I've chosen to prepare and complete LPAs for myself using the .Gov website. At this stage both property and health LPA's have been paid for and generated. On reflection I probably should should have questioned a few things first as I now have doubts and concerns. These are as follows: a) I never thought to…
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Pfizer/wyeth pension
Anyone give me a very brief yes or no Weather in this screenshot I’m looking at a pension of 40k thousand or the 20,000? I’ve been trying to speak to these guys, but all I can get through to as a call centre where they can bring up the details of my pension but they have to then put I request through to the Pfizer admin…
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LGPS , PCLS & LTA
Hi I'm currently filling in the paperwork commence payment of LGPS benefits , there’s a question about pre April 2024 pension payments % against the LTA I did crystallised £29k in my sipp in dec 2023 but only withdrew the tax free element 7.25k the question is for LTA concerns is it the full 29000/1073100 or 7250/1073100…
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Taking avc as a lump sum how does it effect your income tax
Hi, I am planning to cash in my avc to pay off my mortgage. I know I can get the first 25% tax free and would have to pay 40% tax on the rest. My question is would this lump sump be treated as an income if so with my salary it would push me up into the next tax bracket is this correct? I am still working. Thanks in advance
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Advice on moving a Pru With Profits please. What to do?
OH is almost 70 and in receipt of State Pension but also has a Pru With Profits that has about £130k in it. He has ‘sat on’ this for a long time and it’s a long time, since any contributions were made into it. When he retired, we had savings, and as interest rates were low, decided to keep ‘sitting on’ the pot and…
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Scottish Widows App not working
Is it just me ? Latest version of iOS App appears to have stoped working after the update but that could be a coincidence ! Removed and reinstall didn’t help.
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P60's
I am having problems obtaining annual P60’s from my pension
administrator (PIC) PIC took over my pension from my former employers, in house team
– who used to send me P60’s on time,
every year… I have just had an extremely long, on line chat with PIC which
resulted in nothing. They have a “Member Zone” that certain…
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Tax query
Hi I have a tax issue which has cropped up and causing a bit of concern I receive 1400 pounds per month drawdow from my 25% tax free pension pot for 2 years I have had a small part time job paying 110 pounds a week , no tax was taken from me . 4 months ago the company changed hands and we went to fortnighly pay , my wage…
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The right time to switch funds?
Hi everyone, Over the last 12 months I have started paying more attention to my pension, which for the last 20 years has been invested 100% in UK Equities with Standard Life, so I have missed out on the huge US gains during that period. With the help of this forum I made the decision last year to move to a Global Tracker.…
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Civil service ill health pension, Alpha upper tier
Hi, I’m in receipt of civil service ill health pension at alpha upper tier and was told it is reviewed every five years - my five year point is next month. Can anyone tell me what to expect, eg do I need to provide more documents, investigations etc? I had a terrible time with my original application and finally got the…
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Private Pension Contributions
Hello, firstly hope you're all well & apologies in advance if this question has already been asked. I have around £36k in savings from when my mum passed away a few years ago, I always told her my dream was to give up work as soon as I can, so I'm retiring early at the age of 61 in late September. I've got a Santander Edge…
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Workplace pension reduced after the event
I have read threads here whereby people made decisions to retire (e.g. early) based upon their workplace pension provider's quotations, only to have some of the lump sum and ongoing pension snatched away when errors had been spotted months after their retirement. It seems that back then there was no redress. I took early…
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Sipp beneficiary
I'm the beneficiary of a sipp and understand that money taken out as a lump sum is taxed at my rate which is 20%. the SIPP provider says it will pay out using a emergency tax code at 40% and I'll get just over 60k. The SIPP is worth 107k and I earn just under 30k. Ive read that sipps will be taxed at the beneficiarys rate…
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Pension paid as part of severance
Hi, I am not clued up on all this but I am getting tingles that this doesn't feel right and I wondered if anyone could help. My partner was medically signed off from his job and has accepted to go down the severance route as it works best for us. However, he told me yesterday that around half of his package is his pension…
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Choosing annuity over draw down?
I will shortly have access to about £200k from my deceased husbands private pension plan. I can take a £50k benefit and raw down a certain amount on a monthly basis but the total funds do not increase for me. should I take the whole lot and put it into an annuity? Also, should I split the amount up to put into a variety of…
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728 discussions
6.3K comments
Most recent: paid top up contribution but still not allocated by Silvertabby
2 January at 3:16PM
