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Is scheme specific lump sum protection *additional* to the LSA?
I have 2 pensions, neither accessed yet - the older one has "protected rights" of some kind on it which I believe is the same as "scheme specific lump sum protection", namely at some point in the distant past I became entitled to take more than 25% tax free from that pension and those rights still exist, potentially. I've…
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Advice on Drawdown (currently Vanguard) please
Hello I took VR last summer, so am now retired. In the new tax year I intend to start drawing on my main DC fund with Vanguard. I don't want to take the 25% tax free lump sum yet (though may do so for all, or most of my DC pots at some point) Looking at the vanguard website the option for regular payment is "Flexible…
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Work pension withdrawal
I am planning ahead for my pension withdrawal. As I hope to get back into paid employment for the next ten years, which will likely use up my basic personal tax allowance. I currently have approximately £100,000 in a workplace pension with Scottish Widows from a former employer. While I do not need the funds immediately, I…
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Switching provider to access pension
I'm planning to begin drawdown from my DC pension from April 2026, I'll be 59. My current provider, Reassure, don't have an option to drawdown from the existing pension, and would need me to switch to a drawdown account with Standard Life. I am unsure if that's a sensible thing to do. For background, my pension was…
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Work pension acceptance for under 22 year olds
After reading the related articles on workplace pensions for the under 22s, I am wondering if there is any legal legislation or document I could refer my employer to? We have some apprentices who are under the age of 22, been employed for over a year and earning well above the minimum earnings for acceptance. The company…
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Can I withdraw tax free cash from my pension and transfer to my wife's pension?
Hi all, any general feedback is appreciated. My wife (56) is retiring this tax year (end of March 2026). She has paid ~£3K into her pension this year, leaving around ~£57K of her allowance available. I am also 56. I have a pension pot, but I have not taken anything from it yet. We are trying to achieve an income from her…
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Pension Scheme Buyout
So have any of you been through a Defined Benifits pension buy out in which your pension has been transferred to an insurance company? If so, when were you informed that this was going to happen? I’ve been up most of the night worrying because my husband’s pension was due this Saturday on his birthday. We found out a week…
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My second annuity payment due is lower than expected
Hi all, I had a small pension and decided to get an annuity with L&G. I received the first payment yesterday with the amount I was expecting of £337. Anyway, the next amount due to be paid is showing online as £283 which is £53 less than the first payment. It also says it's estimated. I also have another small pension…
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Old style with profits pension - should i move it?
Hello, i have an old style company with profits pension thats not accessible online. I have the chance to move it into a new scheme (at no cost) with similar risk but supposedly better returns & lower charges but don't know if its a good idea. I'm about 5 years from needing to access it. I have a reasonable amount saved in…
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Alpha added pension 2026-27 via monthly salary but retiring during the year
Hi, quick question to do with early retirement. If I go for early retirement in 2026-27 taking reduced Classic and Alpha/added pension, what happens to my Alpha added pension monthly contributions via salary for 26-27? The application deadline is 6/3/26 for contributions to start on 1/4/26 and I still want to do this to…
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Who's at fault?
This is in relation to an NHS pension. I started working late 1980s but didn't contribute to NHS pension. I had a private pension which was 'sold' and purchased some years of NHS pension. The date this was meant to take me to was Jan 1992. I have correspondence from NHS pensions quoting that date but they now say that the…
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PPF pension lost on death? Was advice in life misleading?
TL:DR - Mum passed away at 61, left a pension with PPF. Seems she was already eligible for various options including a £12K lump sum. PPF tell me we have no claim to this upon mums passing. Anything I can do? I also think they've provided misleading financial information discussed below. Looking for any help, guidance and…
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SIPP - practical question
Hi I have a practical question regarding reinvesting tax relief back into my SIPP. Grateful for any help, as I can't find the answer elsewhere on-line. Apologies in advance if this has already been answered elsewhere. My situation is this: I am a higher-rate (40%) tax payer who contributes regularly into a SIPP. Via my…
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45k Capita Cash Pension - What to do, need help
Hi there, I am a bit in the unknown about all things pensions and looking for some pointers and help. From a previous employer I have a pension pot with ca 45k in it just now. It's not invested, just a cash pot. Every year the pot is increasing by inflation, up to a maximum of 5% so unless inflation sits above 5% spending…
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Aegon pension fund - fee overcharge since June 2020
For attention of anyone with an Aegon pension plan I have today received notice from Aegon that, from June 2020, Aegon took more than the 1% charge my plan was meant to be billed at every year. I do not know if this is a problem specific to my account, or everyone with the same plan. (I don't recall doing anything around…
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Home Responsibilities Protection
Hi. On the back of the Martin Lewis Money Show, I helped my 82 year old Mum, who is being treated for multiple myeloma, to apply for missing HRP in July 2025. Despite a number of calls to HMRC, initially confirming in the first call the application had been received (albeit she received an auto email confirming this) and,…
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Bridging the gap to state pension.
Hi, I have recently given up work at 55 and will start taking my DB pension from April 26. This will provide some of my monthly income and I will then need to top up from savings (this includes my TFLS from the DB pension) or one of 2 DC pensions I have. These have not yet been touched. The DB pension will not use all of…
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Deffered benefit pension scheme Fluctuations in growth
I have a deferred defined benefit scheme (final salary) which I have been receiving annual retirement quotations from on retirement income. So that I can plan my retirement accordingly. I have noticed that over the past 8 years, the value of my 25% tax free lump sum plus income, and 100% income option has gone up and down…
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Which draw down pension
hi, I`m self employed and 4 years away from state pension age, 67, and would like to take my Reassure pension pot and open a draw down pension, which some firms are calling Sipps. I`ve spoken to a couple of financial advisers, but it seems like their fees can vary quite a lot, one even asking for 4.5% of my pot, which I…
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DWP forecast says 34 years out of 35 is only pennies less per week than full state pension.
My wife spoke to DWP today to discuss her pension forecast and was told that if she only qualifies for 34 out of the 35 years, her forecast says that although she will not receive a full state pension, the amount will only be 16p less per week. I asked why and was just told that's what the forecast says and it is different…
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Most recent: NI years are now full, existing OAP, when should I expect my monthly payments to reflect this? by molerat
12 May at 5:13PM
