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Quilter Cheviot / IFA
Hi Newbie here hoping you folk might be able to enlighten me a bit. I’m helping an elderly family member who has an IFA and then all their investments are with Quilter Cheviot. They have 3 accounts with QC: a GIA & ISA account, a SIPP account and an offshore Bond account. I’m trying to understand a couple of things: 1)…
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Guaranteed Minimum Pensions
I was wondering whether to expect a payment wrt GMP at age 65 ?I was medically retired from Civil Service at age 47 (on a Classic Pension IHR).I am now 61 years old With only 30 years NI credits - I would not have received a Full SP - So I am now receiving SP Credits from DWP. And "should" have sufficient for a Full SP.But…
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DC TFLS Some advice please
Hi, I am 59 and have a both a DB and DC scheme. The DC scheme value is around £400k and I would like to take 25% tax free to pay off my mortgage. I’m still working earning a good 6 figure salary but I’d like to alleviate the pressure I feel supporting a monthly mortgage payment of £2250.(I only have around £10k in other…
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SELF EMPLOYED - NEST, NUTMEG or LISA?
Hi Im 38y/o and have been fully self employed for 18months. Only have small pension pot (less than 10k) with NEST. Opened LISA with Nutmeg a year ago as I decided at the time this was more attractive than a pension mainly because you are not taxed when you draw on it at age 60. I cant afford to pay into both a pension and…
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Small pension pot left after taking 25% lump sum and this is losing money
Hi all. Just looking for a bit of advice regarding a small pension I have still left to take of £7122.00. I have already taken the tax free 25% lump sum this tax year. Every time I look at the small amount that's left it's just decreasing in value. I know that pensions are a long-term investment but I am nearly 70 now so…
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pension inheritance
Hello. I wonder if someone would kindly advise me please. I am due to retire at 67yrs and wondered if I am entitled to any of my deceased husband's pension? If so, how does one calculate any entitlement, as this would affect whether I can retire at State Pension age or need to continue to work on for as many years as I…
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DC Pension transfer issue due to DWP rule
I am trying to transfer a small workplace DC pension into a much larger one, also a DC workplace pension from my most recent employer. The proposed receiving pension is with Aviva and I have been in it for over 10 years. The administrators of the existing pension are telling me that, because some of the Aviva pension funds…
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Salary Sacrifice and NMW Limitations
In the last year or 2, I have been substantially ramping up my Workplace Pension Salary Sacrifice contributions, to the point where I am almost hitting the NMW limitation based on my pensionable base salary. But I also get some additional pay for participating in on-call rotas. This is not pensionable, and while it has…
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Already drawing state pension & investigating moving to Australia
Hi - I’m looking at joining my only daughter who is a citizen of Australia & has dual resistance. i am drawing my UK state pension and have a couple of private pensions that I live off ( I do not work ). canyou advise what will happen to my UK pension as I have heard that as soon as you move abroad (Australia) the state…
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No tax relief on my current pension?
Hello all, I'm hoping someone on here will be able to give me a hand, because after a lot of google searches I cant seem to find anyone else who has been through this situation. I work at a small company, about 100 employees, and have done for 4 and a half years. I work full time, on a salary of roughly £36k. I did a bit…
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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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Now sent pension back to employer
Hello, I have recently been collating pensions and have a 2016/17 statement from NOW which has my pension correctly listed and 2 years of contributions. However when contacting NOW to locate the pension, they have said my employer at the time has since closed the scheme due to employer terminating agreement with NOW, and…
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Pensions Advice for 19 Year Old
Hi, I'm keen to get some pensions advice on behalf of my 19 year old daughter. She has recently dropped out of university as it wasn't for her and has fallen back into doing what was her weekend job on a full time basis for around the national wage. She doesn't really know where she's going career wise but I'm keen for her…
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A fixed term annuity question
Can anyone advise if this is correct, and if there is a work around on this issue. I looked into quotes for buying a fixed term annuity with part of my SIPP funds. This was to bridge the gap from age 59 (now) until state pension age of 67. The quote was acceptable and I was interested in proceeding. I contacted Legal and…
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Transfer in to Civil Service pension (Alpha) - thoughts
I joined the civil service (alpha) in August 24 and considering if I should move my other 3 pensions into this scheme. I earn about £80k I am 50, and hope to retire about 65. My other 3 pots are: £13,000 in a DC scheme then 2 benefits schemes with: USS - partial DC of £10,500 +(£9K lump sum & 3k annual) LGPS - with £64k…
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Small Pot from Drawdown account...?
If one crystalised their entire SIPP, taking the max TFLS of £268,275... Can they then take a 10k "Small pot" from the residual drawdown fully taxable account...? Assuming not... Could they open a new SIPP, paying £2880 for three years, then cash it in under the "Small Pot Rule", benefitting from tax relief and 25%…
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NHS, McCloud and Additional Pension
My wife has been making Additional Pension Contributions in
her NHS Scotland 2015 Pension Scheme by monthly deduction for the past 6 years. In September 2024, she retired and returned in order to
claim her 1995 Pension and she continued in the 2015 scheme. Under McCloud, all of her 2015 scheme
membership to 31/3/22 was…
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AVC’s aged 57
I am looking to reduce my tax burden ( currently 40%) by investing in AVC’s through Standard life ( I have an NHS pension but it dies with me ) I’m overwhelmed by the choices and not sure which would work best for me at my age 58 yrs I think I would like to drawdown as I may finish work earlier than 67 or at least have the…
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Assess my ISA "income and a bit of growth" portfolio
This is my plan for my ISA in retirement. The freezing of Personal Allowances has led me to focus more on taking an income from ISAs, which I'd previously expected to use for ad-hoc additional expenses. I'm aspiring to take about 4% yield. I'm looking at Global Income:- Fidelity Global Dividend 10% UK Equity income:- Man…
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Month 1 emergency tax on pensions
Is it true that this affects ALL ad-hoc withdrawals not just the very first one ? So the only way to avoid is setting up a regular monthly payment with the pension provider. Otherwise you’ll always be over taxed & claiming refunds. Is there any way to instruct the provider to pay it gross and reconcile tax on your annual…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
699 discussions
6.1K comments
Most recent: NI Top Up Contributions: Computer Says "NO" (not needed), but mysterious reason why! by german_keeper
31 July at 9:35PM
