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Defined Benefit Pension advice
Hello. Looking for some advice please on accessing my Defined Benefit Pension, I am 56 yo. Having previously worked for the local council, I was enrolled into their pension (NESPF) for many years. Due to the start date, my pension provides an Automatic tax free Lump Sum of £40k plus an annual pension for life. My current…
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Tax Paid on Drawdown, query
I have just started to draw down an amount from my retirement account, the amount is £1500 (Monthly), my current Tax Code is 1130L and I have received today £1409.80, which is more than I expected. Could anyone please help with the calculation ?
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Company pension options
You pay into a company pension and the contributions are taken after tax and insurance from your monthly salary. The company then offers employees to opt into the new 'salary sacrifice' version where contributions are taken pre tax and insurance. Employer pays 3% and yourself 5% (looking to increase the employee %) Either…
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Partial Retirement Tax
Can someone please help me understand my tax codes and if these are correct. I took partial retirement and reduced my working hours by 20% in July. Reduced annual salary is: £63,598.40 and pension is £19,741.56 per annum. Pre-PR tax code was 1263L and first month’s pension (tax code 1257L) was £1276.69. Second month…
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Retirement calculator that includes other savings and investments
Does anyone know of a good retirement calculator that also lets you input additional savings? The ones I've seen just focus on pension pots but ignore ISAs or taxable investments you might be saving for alongside that.
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Capita Data Breach/Barings Law
As a victim of the Capita Data Breach, I joined the Barings Law ‘no win no fee’ claim, as did many of my colleagues. They keep me regularly informed, however they have asked me to sign a ‘claimant assignment’ form. Does anyone know if this is standard practice?Thank you.
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PURCHASED LIFE ANNUITIES - *WHY* MUST I PAY FAT FEES IN 'ADVICE' TO BE PERMITTED TO BUY SUCH ?
I'm of pension age now and have spent the last year reading up on all the Pension terrain, familiarising with all the Annuity types and so on and getting to grips with how it all works. All fine EXCEPT FOR ONE REAL ODDITY: Annuities come in a range of types, when purchased from a Pension pot (a pot of funds still in the…
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When to take LGPS pension
I am due to retire 21 March, my NRA, I would like to know if it is beneficial to put off taking my LGPS pension by ten days so that I get a full year of service as my final contributing year. I have an in house AVC that runs with my pension and want to take this tax free when I take my LGPS and want to make sure I don’t…
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First job…what’s recommended
Hi there, my daughter will start her first job in a month, with a salary of around £25k. She will turn 18 around the same time…while Zi’m aware she’d need to opt in to the Company scheme (which matches up to 10%) I’m not sure d what the right advice is at that age. Hubby says get her to put 5% in, employer matches… My…
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Is anyone using LV SIPP for flex drawdown - feedback
I’m looking at retiring next year at 56. I have a couple of small DB that won’t kick in until I’m 60 but a meaningful DC pot with my employer but need to transfer to be able to access flex drawdown i am speaking to a couple of advisors 1 has very high fees for both transfer and on going management - recommends Aviva…
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Overseas beneficiary of a successor flexi access drawdown pension
Hello, My father died (aged >75) and my mum was named as the sole beneficiary of his flexi-access pension. She chose to transfer it into a successor flexi-access pension in her own name. She has now also passed away and I am the beneficiary. I am struggling to work out what to do with this as it appears to be in some weird…
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What is the best choice?
Hi not sure if this is the right place but I know you are very knowledgeable here, so I work for a company that offers a £1046 reward at the end of the year, kinda Christmas bonus/reward. We can have it either as £1046 paid into my account, not sure how much I'd lose with tax and Nat insurance taken off? (I earn about 40k…
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Graduated Retirement Benefit scheme to 1975
Apparently I earned 32 units up to 1975...(paying approx £240 in additional NI contributions) These were valued at £0.1314 each in 2014 so I received £4.20pw additional pension.(£218pa) My question is, when the scheme ended in 1975 was the value of the units I'd bought increased each year by inflation ? If I worked it…
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What do people mean by "pension value"?
On other threads I read stuff like Do they mean they get £171K annually?
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Do you need an IFA to purchase an annuity?
This discussion was created from comments split from: Bold leap into retirement.
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LPA through a company called ZENCO
Hello all. Ive today come across this online company called ZENCO About Us - Zenco Legal who offer to do your Lasting Power of Attorney for £99 per document and check it for you to ensure its legal. The website states it only takes 15 minutes to complete. Now i took it that this was a complicated document, so this has put…
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Helping friend with pension
My friend has had an inheritance and we were discussing how best to save it for the future. I suggested putting it into her pension, but she reckons it's too good to be true! She's 54, so am I right in saying she can put the money in now, and start getting the money back (with the tax relief uplift) when she turns 55? This…
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Aegon Scottish Equitable -unable to get money out
Hello, I am new here, and perhaps someone can help me or share their own similar experience. I've been trying to take money out from my pension pot for months. I made an ill-health
claim that was accepted in August 2024. Since then, it's been a succession of
incorrect quotes, missing documents, "we-need-more-time" type…
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Missed Deadline for Added Years Buyback
Hi, Like many, I missed the deadline for adding extra years that my pension check calculator showed that I owed, as the HMRC website/app was overwhelmed. I took the MSE advice and filled in a HMRC form requesting a call back, but I don't recall seeing a call from HMRC. What do I do now? My NI Record shows Not Full entries…
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HMRC waiting time period to sort out additional NI payments
Hi there, I've just called HMRC about a completed CF83 form that I sent them by registered post 23rd May 2025. I want to make some additional payments to make up some missing State Pension years from a time when I was living overseas. Staff informed me that they were still processing applications that came in on 6th…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
708 discussions
6.2K comments
Most recent: Retrospectively claiming NI credit for a carer? by jem16
19 September at 7:11PM
