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New starter to Civil service pension
Having just spent a few years in the Local Government pension scheme and tackling making AVC’s I’m about to move to a civil service post and could do with some help around what my options are within the scheme as I’ve not been able to find much information. Thanks for any help.
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Pension contributions in retirement
Hi, I took early retirement 15 months ago, using a Prudential flexi access drawdown scheme. I withdraw taxable income upto my tax threshold so I dont pay tax, and top this up with tax free income to give me enough to live on. I think this has triggered the MPAA, limiting the amount I can contibute back into my pension. I…
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Nest or Now?
Hello! I would like to continue with my pension as a self employed but got two different pensions already created from my previous jobs: Nest & Now. Would like to unify them and just keep one. Any advice of which one is better or the best way to do this? Thanks in adavance.
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Have we reached peak annuity rates?
Now that the higher interest rate medicine appears to be working and gilt yields are slightly down, does it look as though annuity rates have peaked for now? OH had a surprisingly good annuity estimate from Legal and General via moneyhelper, but when he went to the L&G website he got a slightly lower estimate using the…
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Merged: Inherited Drawdown Pension
This discussion has been merged.
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Best provider for inherited pension
Am able to transfer my late husband's pension (approx £110k) Options given to me by the current provider are 1. Take all as cash 2. Buy a guaranteed income 3. Transfer to another provider 4. Take a flexible income As he was under 75, I receive it tax free. I am 44. Provider is L&G atm. No idea what the current fees are.…
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How do they know
It may have been asked before but I cannot find it. The Winter fuel payment has been reinstated to those pensioners whose income is below £35000 per annum. My question is How do the government know your income? Do they have access to your bank account?
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HL verses Moneyhelper annuity quotes/checker question/view.
I have been playing for hours on HL (Hargreaves Landsdown) & Moneyhelper.co.uk trying to find a sweet spot between all the various input settings and indexs on annuities. I'm pretty fixed it will be a life policy and won't be a level annuity. I'm 90% sure it will be RPI or LPI as opposed to gambling on a fixed % index, I…
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Newbie - Pensions/ISAs and SJP
Hi, I've had an initial introduction to St James Place regarding tax free savings, pensions and ISA's. Basically, I need some confidence it's the right way for me to go. I have a Final Salary Pension and discovered the CETV is large. Basically I can manage on savings and ISA's without the pension so I'd be happy to move…
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Protected tax free cash
I had scheme level protected tax free cash of 41% in a pension scheme in 2018 I transferred to a SIPP as a block transfer, all done within the required timescale to preserve the benefit. No further contributions have been made to that SIPP, although it's increased in value by about 35% through growth. I plan to take my…
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Hargreaves Lansdown OEICs factsheets
Has anyone else noticed that certain items of information (inc details of the top 10 shareholdings & detailed geographical breakdown) seems to have been missing from a number of OEIC Factsheets for quite some time now. Perhaps I may be one of the few who makes use of this information on a fairly regular basis.
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Income tax on inherited pensions - MLMS error?
Martin's Money Show talked about how beneficiaries are currently subject to income tax on any pension funds inherited where someone dies after age 75. This led to a discussion about how from 2027 these payments could also be subject to IHT as well (ie double-taxation). Martin then asked whether the age 75 cut-off still…
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Sense check, Accumulation to Deaccumulation
Deleted post
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Understanding how the Pension Protection Fund would consider a previous lump sum payment
I will start drawing from a deferred DB scheme next year and have been wondering what would happen should the scheme end up in the PPF. In terms of likelihood, I’m confident this isn’t imminent or inevitable but the organisation is in a troubled sector. My question is about lump sum payments and how/whether the PPF takes…
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Early (forced) retirement. Which db pension option to choose?
Hi all, interested to hear which of these 2 options you would take (or a third in between option) in my position, and explain why please (defined benefit pension). Made redundant, and want to retire now. The important bit, I need £1100 a month to get by - and the pension and savings interest (approx 4k a year tax free) is…
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State Pension forecast - quick question
I'm 58 and I've paid National Insurance for the last 40 years. I was just looking at my State Pension forecast at https://www.tax.service.gov.uk/check-your-state-pension/account One thing I'm not clear on. Is the forecast based on the assumption that I will continue to work and pay National Insurance from now until my 67th…
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Armed forces pension and divorce of German spouse.
I have a close friend who is a German citizen and is currently divorcing her ex forces British husband. (She lives in Germany). Her solicitor says they are unable to include his UK army pension in the divorce. Would anyone know if this is the case ?(is it because of brexit etc now?) Most of the advice given is for UK…
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Financial Advisor advice
Hi all I'm 55 and other half is 53 and I feel like I should get my finances in order and start planning when I want to/am able to retire? I get so many adverts on my social media feeds saying "Do you have a 250k pension - download our 9 must do things' or "Do you have a £750k pension - don't fall for these 5 mistakes,…
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NHS Pension Scheme Pays
I am looking at pension contributions in excess of the annual allowance of around £28,000 this year (even taking into account carry forward) and am trying to work out if it is best just to pay the tax on this or to use scheme pays. My understanding of how the annual allowance charge and how the scheme pays works is as…
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It is about time they changed the law, requiring a FA to deal with transferring away a DB Scheme
In certain circumstances, as my own, below, it is about time they changed the law on requiring a FA to transfer out a DB scheme. It is scandalous what a FA will charge, for, basically, what is just a form filling exercise. I am looking to transfer my DB scheme to purchase a Lifetime Annuity. An Annuity with Standard Life,…
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Most recent: Delays for P55 tax refund from HMRC by Fishingtime55
22 October at 9:39PM
