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State pension and 2023/4 self assessment
State pension(SP) was an issue for my 2023/24 self assessment(SA) I am no expert in these things but I totalled up the money received for each month April2023 to Mar2024 (12nonths) and entered that on my SA. However I have seen other comments stating the figure should be based on my 'entitlement' and not what I actually…
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proceeds from investing pension tax-free lump sum in a fixed-rate saving account
hi, i intend to reinvest (not in another pension though) my pension lump sum, but didnt know if the interest i would make would be considered taxable ?.
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Capital Growth funds or ETFs
Is there any such thing as funds or ETFs that are designed to generate only capital growth and zero (or minimal) dividends? (such that if you have them in a GIA you only have to worry about Capital Gains tax). If so can I get some examples and/or a good way to search for them on Pickafund or Morningstar?
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Check our plan - Are we ready to go?
Good Afternoon All Very long time lurker here. My financial education has mainly been gained through this forum over the past 10 years, so a huge debt of gratitude to all posters, past, present and future. Goal: After 25y+ careers, OH and I would like to leave our corporate jobs to pursue personal interests. We believe…
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I want to retire early - how can I plan for it?
I turned 40 this year and reasoned that another 25 years at the coal face in the my industry is not as attractive as it was when I was 20, so I'm looking for a way out that doesn't leave me potless in retirement. I am fortunate enough to have been very lucky with some investments in the Stock Market a few years ago so I…
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Overpay on pension or mortgage
Hi, I didn’t know whether to ask this here, in mortgage section or investments & savings! I’ll try here and hopefully the hive brains can help me. I have around £1000/month disposable income from my salary, which I currently overpay into the mortgage. The mortgage is at 5% and has around 17 years left to pay. In terms of…
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Considering partial transfer of uncrystalised employer pension to Interactive Investor
I have an II pension in 100% drawdown, with about £160K in it, and an Aegon pension which is my employer pension but it's basically a SIPP that the employer pays into, currently worth about £64K. I am looking to decide whether to do a partial transfer again to save charges. I have not triggered MPAA - only taken TFC from…
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Filling in N.I gaps when I lived abroad
In a nutshell I'm 52 and if I work til 67 then I do qualify for the full 35 years state pension however I'd probably like to retire at 64 which means I'd be 3 years short of the 35 years. I can pay for them at nearly £900 per year HOWEVER I did love in Spain from 2009-2010 so I was advised to apply with Gov.uk for National…
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LGPS Salary Sacrifice AVC NI savings
I’ve been paying standard AVCs for a while now, but now considering options around salary sacrifice AVCs. Trying to get my head around the NIC savings on offer. Current salary is approx. £57k. Would I be right to assume that any salary sacrifice AVC’s would only attract 2% NIC saving (plus income tax saving obviously). And…
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Why would someone want to opt out from a pension scheme?
Hi,Why would someone want to opt out from a pension scheme? When you opt out you lose 1% from the government and 3% from the employer, right?
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Topping up SP - do it now or wait?
Hi, My wife is 58 and retired. She has no plans to work in the future (at least, not paid work as she volunteers at a local charity). She is three years short in NI contributions to receive a full state pension. On the HMRC portal, there are three options. The following are the costs for the option to pay for all three…
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Issues with AVC - suggestions?
Hello all, I am 64 and planning to go in a few months at 64.5. At that time i will take a DB pension and drawdown from my DC. So far so good but i have a very old AVC linked to the DB scheme. It is not much (£16k) but the scheme admin say i need to take all of this at the same time as my DB pension. They have also told me…
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Adding £2880 to your pension each year or taking the £720 in cash
Just wondering what people do once they reach 55 and do not pay tax so the £2880 becomes £3600, do you use HL and take the £720 profit each year or do you just add it to your pension and let it grow with the rest of your pot ?
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lump sum
HI, I'm 59 and I have a frozen final salary pension I am thinking about taking out a small lump sum now and some later, can I do this and still leave the rest of the pension until I actually retire or do I have to claim all of my pension from when I first receive a lump sum
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Divorce lump sum not paid
Hi. I would be so grateful for any advice. I was awarded a lump sum in Dec 23 by the courts and a Pension Sharing Order. Lump sum was to be paid 56 days after PSO implementation which should have been in June this year, if the court order timelines had been adhered to. I paid my pso fees in February. My ex didn't pay his…
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Pension types what should I get?!
So is a private pension better than an employee pension? I have never ever had a pension as long as I've worked and don't have a private one. I would like to get a private one but how do I go about it? What's best? Or is an employee one best in which case I should get a job ...
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SIPP Portfolio Appraisal
Hi, Looking for some general advice on my pension planning please. 37 years old and on a salary of £100k. Have approximately £12k in my workplace pension, where myself and my employer contribute the minimum amounts. I also have my own SIPP which has a balance of £55k which I am paying £500 a month into. My SIPP is…
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Relief at source and income tax
Hi Is there anyway of reducing taxable pay if an employer uses the relief at source pension method for my workplace pension? I’m trying to save income tax by reducing taxable pay from £15k to under my personal allowance Thanks
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Class 3 Voluntary National Insurance Contributions - Buy now or wait until nearer the time?
I am 4 years short of the full state pension, so I'm weighing up whether the buy those 4 additional years now or wait until nearer the time - approx 15 years. The question is how to predict what the likely increase in the cost of buying these years will be in the future? 2025/26 is going up 1.72% (£17.45 to £17.75 per…
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Retirement Income Planning
Hi Planning to retire in just over 2 years at 60 and I am putting the final touches to my and my wife's pension funding and retirement income planning. Any feedback on my plans is very welcome. I think I have a reasonable plan that will ensure our joint income needs are met , c£5k per month after tax until around 75 then…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
674 discussions
5.9K comments
Most recent: NICs shortfall rates - paying years 2019-2020 to 2024-2025 later on by maullwurff
15 June at 7:31PM
