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Is it worth transferring my small pot 25k
Hi, I wish take all of my 25k pension pot, in the next two months i am currently with the prudential is there much to be gained financially by transferring it to another policy bearing in mind I wish to withdraw the whole amount very soon after transferring as I have health issues thank you in advance
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Workplace pension
Hello, advice wanted. Is it worth restarting my workplace pension at 56? I haven't had 1 for many years, there is about £3000 in it now. If it is worth it, what would I need to add monthly? Thank you.
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Teachers' Pension Scheme - take it now at 57 or as a deferred member at 60?
Hello all My wife is a teacher with 24 years service who is leaving teaching at the end of this term. Initially we were planning to hold off on drawing her pension until her NPA of 60 (she will be 57 this August), but we're now wondering if it would actually be better to take it now rather than as a deferred pension in…
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How doesn't Mum receive full State pension?
Mum started work at age 16 and worked until her retirement at age 65. She is now 87 and has never received full State pension. She did elect to pay the "small stamp" in 1976 as my Dad was self employed. She finished paying the "small stamp" age 60 but carried on working until age 65. Shouldn't she be entitled to receive a…
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Maximum tax free lump sum
I’m currently 55. I’m fortunate to be due a lump sum of about £190,000 from my NHS pension age 60. I no longer pay into the NHS pension (I now work in the private sector) but am saving into a DC pension and hope to have around £500,000 in that when I retire at 65-67. I’m aware that the maximum tax free lump sum that can be…
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25% Lump sum - MPAA
I'm 52 and have 3 separate pensions. I was thinking of taking a lump sum at 55 somewhere below th 25% tax free amount and continuing paying into my pension until i retire at 65 - Im i correct in thinking that if i do this I can only put up to £10k into my pension per year because of MPAA? My pensions are with Pru, Aegon…
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Paying NI for my last working year in time for my pension
I am due to retire in June 2030. My State Pension Summary says 'Forecast if you contribute another 6 years before 5 April 2030: <full pension amount>'. To achieve this, I will need to contribute for the 2029/30 tax year. BUT... I am self employed. Usually I get a bill for my Class 2 contributions after I have done my tax…
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Unchecked year in my NI record
There's a tax year on my NI contribution history 20 years ago marked as 'Year is not full. We are checking this year to see if it counts towards your pension. We’ll update your record when this is finished, you do not need to do anything.' I don't know why this year is still marked as unconfirmed. It would help towards my…
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Taking pension Drawdown
This discussion was created from comments split from: Taking pension Drawdown.
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Inheritance Tax Threshold
Hi, I am dealing with my fathers estate following his recent death. He lived rent free with his partner, but owned a property that was let to tenants. I am the only beneficiary. Given that his rental property was his only property, would he be entitled to the additional threshold of £500K
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Can I retire - a stupidly simple method
So I know there are a multitude of retirement cash-flow planners out there that attempt to predict whether your assets are enough to support your retirement such that you don’t run out of money. There is a whole industry that has grown up around modelling these in cash-flow plans. BUT, retirement planning would be a simple…
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LGPS death in service grant
Please could anyone clarify what happens if there is no EOW in place at the time of death - specifically, do the regulations stipulate that the grant must be paid to the estate, or are they worded in such a way that the local authority still has some sort of discretion over the payment? I've looked at several websites for…
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small pot query - SIPP now uncrystallised if small pot taken
Hi, I am doing a small pot of £10K this year (and plan on one next tax year and final 3rd one the year after that). I transferred from Vanguard to HL in October last year in planning for this. My SIPP with HL is essentially static in that I no longer do monthly payments in (focus on employer DB AVC). Current value fairly…
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Pension Contribution Question
My workplace already puts 10% into my pension without any contribution from myself. If I were to contribute, is there a way I can work out how much I would be better off? I will try my best to explain, but basically I want to work out how much of a saving I would be making by contributing, given my tax bracket (40%). I'm…
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Drastic reduction in CSP pension Gross amount
In May my Gross figure was £1940 per month, in June it was reduced to £1559, my future gross payment for July will be £595. I had assumed that it was connected to the start of my state pension, however that would only affect the net figure. I have contacted CSP, I wanted to know if anyone could shed some light on this and…
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SIPP experts! I'm struggling between LGPS APC and Vanguard SIPP
Hi, I'm nearly 60 and I want to give my pension a final boot up the backside. However I'm not sure what route to take and I'm hoping you geniuses can help... I'm paying into an LGPS DB scheme which I'm planning to continue as well as maxing out my AVCs before retiring in five years. I will have around £1k a month left for…
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Frustrating experience with Aviva's pension customer service
I’m very disappointed with the poor level of customer service I’ve received from Aviva regarding a simple pension query. I called to request a tax-free withdrawal of 25 percent across three pension policies. I explained clearly that I wanted to take 100 percent from one of the smaller, underperforming policies and then…
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Pension credit under immigration control
I’m trying to help an elderly friend of mine get some extra income. she’s from Canada and been living in the UK since the 60s but doesn’t have British citizenship. she has state pension of about £100 a week. she applied for attendance allowance and received a letter back saying she wasn’t eligible for that due to being…
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Small pots question
I used the small pots method , to close a fidelity sipp in May. The balance was £8575.73. Tax free was £2143.93. Tax paid on the remainder, £1286.20. Therefore paid to me, £7289.53. Two questions. I'd assumed this would close that sipp . Indeed, the balance reduced to zero, and the final letter states, Your account is now…
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Pension Provider investing 30% of my Pension in a Fund performing worse than -20% for 3 1/2 years!!!
I don’t wish to name the TOP-10 UK Pension Provider
just yet, (I will do if I do not have a satisfactory outcome to my complaint). I will just identify them for now as “[Pension-Co]”
below. If Martin Lewis wants the
actual name of this provider, I will provide it to him.…
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Most recent: MSE NEWS: At or near State Pension age? Check NOW if you’re due missing Child Benefit credits by MSE_Isabelle
17 April at 12:12PM
