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Will my NHS pension affect my state pension?
Quick question. My forecast when I get my state pension is £12600 based on my NI contributions come Nov 2027. I am planning on transferring my DC pot into my NHS 2015 scheme having joined them 1 year ago at the age of 63. Will this in any way mean I will receive a reduced state pension it appears that some people in the…
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If start to take monies from pension
Hi If i start the above will the company stop investing my remaing pot till all used up or stop once I start to take the moines Plus want to leave something for son for his future is trust a good thing or cash gift which should he not touch till 18 and should do the same for x or not as not getting any younger
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Overseas NI years
Hello. I've been living and working in the UK since 2019, now a citizen and am trying to plan for my retirement years, well in advance. I should have another 20-25 years of my working life remaining. I am considering moving back overseas for work for a few years and intend on returning to the UK in the future and for…
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My plan - using the 4% rule - feel free to tell me if I have it wrong 😊
Here goes, please be patient and excuse any ignorance 😊 Myself – age 54 – will be 55 mid this year Spouse – age 57 - to be
58 mid this year Myself DB Pension £31k
pa S+S ISA £85K DC Pension £299k Total ISA and DC Pot = £384k using 4% = £15.4k pa income. Wife Bank Cash £143k S+S ISA £91k DC Pension £101k Total = £335k using…
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Salary sacrifice confusion
Dec was the first month my employer went to salary sacrifice. Before the change I was paying in 8% and they paid 5% so my contribution was £160 and £175 from them. It normally shows on my plan on the 10th of the following month. It was late this month and only went in today . Usually the 2 contributions show as employer…
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Should I move LGPS to teacher pension scheme?
Hi everyone, Hope you can help! I've worked as support staff and paid into LGPS since 2014, but I've now become a teacher so have been automatically enrolled in the teacher pension scheme. My question is... should I keep the two separate, or should I transfer the LGPS pot to the teacher pension scheme. I'm wondering if by…
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Transfer in from NEST to Teachers Pensions
Hello all, I would really appreciate your help. I'm 40 years of age. I have a small pension pot of £7000 with NEST for a job that I have since left. I have started a new public sector job (which I intend to stay in until I reach retirement) that has enrolled me into the Teachers Pension Scheme. Because I know the Teachers…
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Lost Pension
My father passed away in 2011. I was the executor of his will. He was receiving a workplace pension so I notified them of his passing so they could stop his payments. It is only now that it has recently been in the news about lost pension pots that I have tried to enquire what happened to dad’s pot. The scheme is now…
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Trapped at St James place
Hello Sorry to bother anyone. My dad is 62 and is looking to start drawing down his pension. He has been with St James place for many years and has now decided that maybe its best to go to a more varied/cheaper platform now he wants to access his pension. He wants to transfer but as far as i can see none of the funds he…
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Pay rise or increased pension contributions?
I'm expecting to be offered a pay increase shortly, but wondered if it make more sense for both me and my employer, for me to ask for an increase in employer pension contributions rather than a salary increase. I really have very little knowledge of pensions and how they work, so any advice would be appreciated. My annual…
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Old pension contributions only
Hi. Can anyone give me an idea. I can’t get a forecast because I’m not in this position. The new state pension was introduced half way through my generations lives. Not yet retired got around 10 years left. If I had contributed to the OLD state pension only for all of my working life. And none to the new state pension…
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Mid-life musings
I've started this thread for me to try to gain a bit of clarity on what I am aiming for pension wise and whether we're heading in the right direction. I'm not sure my thread fully fits here as I / we really are working towards being mortgage free, financially independent, being prepared for retirement and hopefully pulling…
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Salary Sacrifice Bonus and 25% Tax Free Pension Allowance
Hi everyone, quick question (hopefully), If I Salary Sacrifice my annual bonus into my pension gaining the tax relief, can I then withdraw 25% of my tax free pension allowance shortly after without incurring any penalty? In effect, paying zero tax on the portion that was my bonus?
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4% SWR rule….well, rules are there to be broken!
Curious news this week, for those familiar with the so-called ‘4% Rule’. Bill Bengen was the ‘creator’ of this rule back in 1994. Previously, he suggested it was perhaps too low, and could be 4.7%. Well, he is now 70, & has suggested current conditions make it hard to call, & perhaps 4.4% is wiser. Others, as we see on…
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Coming up to retirement age
OH will be 66 in the Autumn, not sure if retirement is on the cards then or not but we checked to see what his forecast was. It states that his forecast is £238 pw - we thought the highest he could receive was £221.20? If he continues to work for a year or two will it go up even more? We're newbies if you couldn't tell 😁
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Withdrawal rate
I often see a safe pension withdrawal rate of around 4-5%. This would seem very low to me. Assuming we expect better than 4-5% on pension investments is the suggested withdrawal rate based on maintaining the pension pot? I have what I consider a healthy pension pot and ISA savings and will be 60 this year. My plan accepts…
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Choosing an IFA
Having just taken VR from work and moved house I am now revisiting my retirement options. I probably need help from an IFA to a. Move my 2 DC pensions to a relatively low cost platform and b. start setting it up for drawdown in tax year 25/26. I was looking at Advisorbook and searched for confirmed independent and offers…
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State Pension
Hi guys need some advice for my mum … divorced (single) was meant to retire in 2007 , took retirement in October 2024 deferred state 17 years has now to make a decision lump sum or extra payments each now the dilemma been diagnosed with state 4 cancer …. Unsure on life expectancy If took the extra weekly payments and…
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Pru with Profits Pension Plan - transfer?
This discussion was created from comments split from: Advice on moving a Pru With Profits please. What to do?.
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LTA advice
I cashed in my DB pension in 2018 and took a lump sum of £158k. I am leaving the civil service in the next 12 months, aged 66yrs (have been there 25 years so primarily classic with a few years of Alpha) and have the option of a lump sum of £160k. Do I fall foul of the LTA's? Any adive or guidance really appreciated. Thank…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
699 discussions
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Most recent: NI Top Up Contributions: Computer Says "NO" (not needed), but mysterious reason why! by german_keeper
31 July at 9:35PM
