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Moving SIPP provider now
Guidance Please! prior to the recent “tariff troubles” I was about to switch from Aberdeen Standard Life to a new provider to achieve better results at lower cost. in view of the fact that my pot has just dropped by £15,000 would now be a good or a bad time to switch provider?? your thoughts please thanks
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So confused about what records I need to keep now I am accessing DB and DC pensions
I have been receiving a couple of DB pensions for the last few years. Just recently, I, for the first time, took out money from one of my DC pension schemes. I am so confused about what records I have to keep. I'm told I need to take a note of each crystallisation event, but what numbers am I looking for? The various…
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Annuity like investments from pension
If you wanted to replicate an annuity using a portion of your SIPP funds, to lock in a fixed rate for life when rates are high, but you were under 55, what's the closest way you could you do it without falling foul of the rules of using SIPP funds as leverage under age 55?
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Post 'liberation day' SIPP decisions
The US taking decisions unbecoming of a world reserve currency creating doubt and distrust, macro uncertainties, tariff on / tariff off , US China / trade war etc etc. What SIPP choices to make ? Bitcoin (via MSTR) and gold as safe havens ?! Stick with global trackers? Abandon US tech? Or just keep calm and carry on ....?!
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Civil Service pension surviving partner pension start date?
I am 7 years older than my wife, I have retired early and currently 58 years old. Planning ahead, if I were to die at say 62 in four years time (hopefully not but I do feel peaky) when would she start getting money from my pension? Would it be straightaway or does she have to wait until her normal pension age of 68 before…
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Classic Pension Deferred Lumps Sum interest rate??
Hi, would appreciate some help from anyone who has access to the scheme rules. So I am 62. Just drawing my pension. My pension has been I think correctly calculated by adding to my original pension the appropriate multiplier for CPi inflation.. The lump sum which was calculated when I was 60, does not accrue the multiplier…
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Deferred pension classic civil service told no inflation applies for 11 years!
I was very kindly given 100 percent of my ex husbands pension, by him. it was calculated as a pension credit or 13k p an and and 40k lump sum in 2014. I was told twice in writing and once verbally that it attracts inflation pension increase u till I claim it. I asked for a few pension statments over the years and it showed…
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NHS Pension - 1995 Section - delaying retirement
Normal retirement age for the 1995 Section of NHS Pension Scheme is 60, however, if somebody wanted to continue working beyond 60 and delay taking their pension, would this increase the final value of the pension taken if retiring at, say, 65? Looking at the NHS Pension Agency website there is nothing to indicate what…
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Financial advisor’s error has been costly for us - can we complain?
In 2022 We needed to employ a financial advisor when my husband retired and moved his private pension out - we really don’t know a lot about tax and allowances so felt he would be the right person to keep us informed and on track whilst taking a monthly income from the private pension, last year we also asked him if we…
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Earlier than planned retirement at 54.
Over the last 12 months in particular I've been struggling with my current job of 18 years, which is both stressful and physically demanding. Last week I finally hit burnout and for my own sanity and health, handed in my resignation. I may look for part time work but for now I'm trying to get my head around the finances…
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Should I merge?
HI, After a little help please. I’m currently 54, already retired, and next year will take money from my pensions to bridge the gap to 60 when a final salary kicks in. I have 3 pensions, combined worth just under £50k, and am considering merging them to make it easier to drawdown approx 6k a year. They’re currently with…
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Lump sum into workplace pension.
Hi Forumites. Will shortly be inheriting a sum of circa £50k. Don't need it for immediate purposes (mortgage free, no large debts etc...) however my pension situation is pretty poor so thought this best route ? Current salary is circa £24k - Age 60. Have a workplace L&G placed pension that's been going about 8 yrs (NRD is…
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Bridging to DB pensions.
I've asked questions about bridging before :- https://forums.moneysavingexpert.com/discussion/6489313/choices-choices#latest However I have been working on blended options, does this one make sense? I'm 59 now and will be 60 in December. I put my postcode and health conditions (cancer although I have been discharged and a…
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LGPS AVC overshoot - options
I've been hammering away at my LGPS AVC scheme for a few years, well aware that I'm building up a big fund that will be well in excess of the amount I can draw as a TFLS when the time comes. At present, the maximum TFLS I could draw is £80k, whereas my AVC is worth twice that. I'm aware that I have options for the excess,…
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P55 Tax Reclaim form online
Can anyone set my mind at rest about the fields on the P55 online form? I've taken a single UFPLS payment for the year. Am I meant to enter the amount on the 'UK pension income' page and then again on the 'Pension flexibility payments' page, so that it appears twice in the summary? It seems wrong to me, although I must…
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Pension dilemma
Hi, looking for a bit of advice, I have a Royal London pension worth 25K and I’m due to retire in three years time, with the full state pension. I have only been with my present employer for 3 years so won’t be getting much of a pension there. No other pensions as I previously cashed them all in. I am thinking of adding…
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tax rate on taking funds from AVC pot
I have an old AVC pot of about 150K - if I want to take a lump sum out of it, how much would I get taxed (40% tax payer) ? - would it all be 40% or would it be more if it took me over another threshold?
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Pension Advisor would want £21,000 for a failed transfer
Company pension scheme suggested this chap. So far after two hour's chat I've established that: 1/ He is someone recommended by my complex company pension administrator (DC with DB underpin) because he has successfully transferred many pensions out of the scheme before whereas "other companies have had less success with…
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Tracing wife’s missing pensions
My wife worked in NHS catering from 1989 to 1999 We have her NHS pension sorted (1989-1992) and put into payment at the NRA of 60, but she was transferred into an outsourcing company in 1992. I have not been able to trace any pensions post 1992. There seem to be an infinite number of Sodexo / Sodexho companies but the ones…
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Civil Service Pension Error – £22K Overcharged for Added Years + Retirement Plans Now Unclear
Subject: Hi all, I’m 58 and had originally planned to partially retire at 59 (in about 4 months). However, my application for partial retirement seems to have flushed out some errors in both my pay and pension records. As a result, I’m now unsure whether I can proceed with partial retirement as planned, or even what my…
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Most recent: Voluntary NI Contributions – What to Expect After Requesting a Callback by molerat
4 December at 1:45PM
