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Aptia woes
Hi all, I am a deferred member of an occupational scheme ( left job in 1996) Payable at age 65 ( which was early Nov ) received the quotes for monthly payment and lump sum back in June this year. All looked ok, so sent all the forms back as requested, and they confirmed receipt etc. Thats another job ticked off I thought.…
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FISCAL DRAG: When is the number not THE NUMBER
Jane Blogs worked and saved hard and retired at 55 in 2021. She had lined up inflation linked pension (including state pension) so she had £50270 in real terms for the rest of her life. Comfortable right? She had not anticipated the freezing of tax allowances though, so will she really have her number to spend in real…
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Budget Salary Sacrifice cap
Does anyone know if the 2K salsac cap announced in the budget will be gross or net? Edit: ie whether we can sacrifice 2K and get the tax+NI on top, or whether it will be 2K including the tax+NI I’ve searched but can’t find a clear answer.
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Pru pension difficulties
I’m in the process of dealing with my late brothers estate. Everything except his Pru pension has paid out. He had a Pridential flexible retirement plan. We completed a form with all 7 beneficiaries names in November. All of us are family members. I’ve chased the matter with his FA and have been told the following:- "…
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Question about activating the MPAA and the current tax year
I've recently had to give up my P/T job due to ill health and looking to start drawing down from my crystalised drawdown pot. I previously took the 25% TFLS and the remainder moved into drawdown. I also have a small uncrystallised pot with the same provider. My question is that given I have been working this tax year and…
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Two USS paths, cannot decide
I am in USS and 56, essentially I have a choice. 1. Stay until 60, 3 days per week, and get USS pension of 31k + x3 TFLS at 60. Will have IB/DC's of 500k. 2. Go now and take 24k USS + x3 TFLS. Will have 500k IB/DC at 60, if I leave invested. All todays money. The extra USS under path 1 is essentially due to staying and not…
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DWP pension advice to HMRC leads to wrong tax code
I retired in 2023 and began to draw a private and state pensions late in 2024-25. The aggregate gross income from both these pensions came to under £11K and I had no other income for the year. When I began to draw the state pension in Dec 24, DWP advised HMRC my annual income entitlement, although I would only draw 4…
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Moved: HMRC will stop cash-like investments in S&S ISAs
This discussion has been moved.
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Finding an annuity
Afternoon, all This question is prompted by another, recent thread. I have an initial meeting with an IFA later this week to start the ball rolling to purchase an annuity. I’ve done my due diligence, and the firm / individual appears to be suitable for the job. My question is, assuming we get as far as a product…
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What is the definition of income when assessing tax on pension
State pensioners with no other income will not have to pay income tax once over the tax threshold. Forget the detail whether just new state pension etc. Is it clear what the definition of income is? Is it taxable income or does it include money from savings, lump sum tax free cash etc. Any ideas?
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Higher Rate Tax and Pension relief
Hello All. So as a complete newbie now just opening my first pension SIPP ( albeit very late in life) , hopefully I am now right in assuming 60k limit ? Self employed and will go into higher rate tax this year but I am slightly confused on the part I claim separately on self assessment. I would like to pay in the max sum…
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Employer Pension Requirement
Hi everyone, Recently, I have started being employed as an employee with the business I work at. Previously, I was a contractor with them, but I felt the need for a more secure monthly income coming in. The business is small and we have quite a few contractors that we use to provide our services, but there is a small…
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Pension options
Hi, My son has 8/9 small pensions with 5/6 providers after being auto-enrolled by previous employers. He has now found a job which he will hopefully stay in for many years and will soon get auto-enrolled in their pension scheme. My question is where is the best place to get advice about what to do about all the small…
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Aegon could not locate pension contributions more than a year
Hi everyone, My employer paid my contributions to Aegon but due to some systems issues they were unable to add those to my pension. They located some of the contributions but some still missing. This is now more than a year unresolved. I escalated this to Financial Ombudsman and Aegon lied to Ombudsman saying the issue was…
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Playing the ball as it lies
Hi, Have been thinking about things post budget and think we've managed to dodge most bullets, however, with us now being perilously close to certain allowances etc I'd welcome any thoughts or comments. Figures rounded but you'll get the gist Me 57, OH 55, House paid Full SP for both Me £8K db scheme payable 65 OH £8K db…
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In specie Sipp transfer
I’ve requested a transfer from Charles Stanley direct to AJ Bell, it contains crystallised and uncrystallised funds - there are only two investments, HSBC ftse All world index inc. and Royal London Short term money market fund inc. plus a few hundred in cash - CSD charge £180 + £10 per investment for the transfer out but…
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Assessing my pension Pot.
Dear forum. My financial adviser has changed my draw down pension to a different pension fund. Actually Aviva to Fidelity. Apparently to make it easier. Not sure who for. It does not help me assess any changes to the overall fund. I am extremely disappointed with the fact that I cannot look
at my funds by a line graph or…
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State pension but i pay tax
The chancellor stated nobody would pay tax on a state pension if its there only income.I only get a state pension and its my only source of income,but because I paid into NIC for 52 years (D.O.B 17.08.1952) entitling me to a pension of £1199.per 4 weeks I have a tax bill for £467 for year 24/25 which has to be paid by Jan…
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HRP missing from NI record
My wife retired on
the old state pension at the age of 60 years old. It’s recently been reported
on the Martin Lewis website about Home Responsibilities Protection (HRP) should
have been transferred to your NI record if you had children between 1978 and
2010. We have looked at her Government Gateway and it says “Year is…
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New CS Pension website - are previous ABS no longer available?!
So I set up an account with the new online CS pension portal but it seems that previous ABS (annual benefit statements) are not available. Seems like a bit of an omission. I don't remember being advised to download the old ones before the old website closed. It also seems to have 'lost' my beneficiary nomination. It is…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
727 discussions
6.3K comments
Most recent: Voluntary NI contributions cut off 2025 by Silvertabby
19 December at 7:04PM
