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Investment adjustment - increasing global equity exposure
Morning I am reviewing how my SIPP is invested and have decided to put more into equities. Currently I am 100% in cash (almost entirely in Vanguard SS £ money market fund). With the recent drop in equity markets I do perhaps have an opportunity to re-focus up-to 50% of my SIPP value into an off the shelf quality, global…
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Taking 25 percent lump sum
Hi first time posting for a while.. Im 54 years old and ex employee of miner workers pension scheme.. Normal retirement age for this scheme is 60. Im full time employed with no intention of retiring till 65 years old unless something drastic changes. I want to access 25 percent of my pot which is £37,575.42 and then my…
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Is interest on delayed income pension taxable?
Hi I have an unusual situation with regards to my NHS pension. It seems the part of my pension in the NHS 2015 pension scheme was revalued and was due to be adjusted by April 2019. That didn't happen and having retired in October 2019 I received an adjustment in the form of an extraordinary payment this January 2025 which…
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Royal London transfers out - be aware of timescales!
Hi all, My OH has a former workplace pension with Royal London. She wants to consolidate her pensions into one SIPP and start drawdown at the end of April, so in the middle of Feb she opened one with Interactive Investor and submitted a transfer form to ii to move her RL pension into it. She heard nothing so far from RL,…
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What to do when I retire next year
Hi Advice please, I have a old NHS pension which I had taken out 25% 5 years ago and receive a monthly pension of £145. I have a works pension and I add AVC of £100 per month too. I retire at 66yrs. I do not have a large pension, I have no mortgage and no debts however, I would like to move when I retire. I am not sure…
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signing up to workplace pension
I haven't got a clue about pensions,I'm starting a part time job 25 hours a week,it's a minimum wage job.The literature online describing the pension says you can pay in directly from my pay or use something called SMART Saving through SMART(also known as salary sacrifice) for those who pay…
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AVC and SIPP: can't quite get my head around
Hello I am a higher rate tax payer. I make Additional Voluntary Contributions (AVC) through my employer. These are taken through a third party provider. This is taken before my 40% tax. I also have a Self Investigated Personal Pension (SIPP) which I pay into each month. My provider claims 20% from the government. I claim…
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DB quote query
I'm wondering if anyone can shed any light on my DB quote, as it has me puzzled. I've raised the query with the company but they are very slow in responses so thought I'd ask here. I have in the last 3 years or so received the following quotes Pension start date 27/3/22 £5465 p.a made up of £1773 pre 97 (increase at…
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DB pension now uses up tax free allowance - even though no tax free cash taken?
I recently started taking a DB pension from a past employer, which, on commencement, used up a percentage of what was then the Lifetime Allowance. So far, so good. My most recent letter from the scheme however now says taking that pension has also used up part of my Lump Sum Allowance, which is the total amount anyone can…
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Checking COPE
This discussion was created from comments split from: Good (and short!) explanation of COPE.
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No remaining pension Lump Sum Allowance
What happens when Lump Sum allowance has been fully used? I'm guessing that anything remaining in SIPP can be moved to drawdown without taking any lump sum, and without incurring any tax liability at the time. Just income tax as normal when taking cash out. Am I correct?
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Vanguard SIPP Transfer (Out) Experiences
I just wondered what other forum members experiences' were with transferring out of Vanguard? My transfer was initiated at the end of February. An in specie transfer of current investment from Vanguard to Interactive Investor. Having read some feedback on other forums such as Citywire, I kind of expected the turbulent…
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Widowers pension and carers allowance
I’d like to know what effect having a carer can have on a widowers pension. I was told at the time of my father passing that if my mum has a carer it will affect the amount of pension she receives. I always thought this was unfair that money would be deducted from my mums pension if somebody else is claiming carers…
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Transferring DC pot from Aviva to Scottish Widows to avoid IFA fee?
Hi I'm looking to potentially get an annuity with SW as they currently offer the best rate (it won't be at the moment, I'm just planning ahead). My DC pot is currently with Aviva. I understand that SW won't deal directly with someone unless they're an existing customer, and therefore I'd have to engage with an IFA (whom…
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Advice needed LGPS, AVCs and APCs
Hello Forumites, I have a LGPS pension, and have been paying in since 2001. I set up an AVC with £50 per month and a APC with £50 per month. I am 48, and recently went part time - to 30 hours per week. I am a bit confused to whether I should increase the monthly amounts to the AVC and/or the APC to build up my pension and…
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ReAssure pot(s) - "Wealth Plan" and "Wealth Plan (COPPS component)"
Hi all - Firstly I intend to give "ReAssure" a bell on this but just wanted to gather some feedback so as not too sound too daft or fobbed off when ringing them... Background - I started a pension with ReAssure (I THINK it was General Portfolio originally and then something else before ReAssure) around 35 years ago. I only…
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Good (and short!) explanation of COPE
There are lots of queries about COPE cropping up regularly. This is one of the better, not to mention shorter, explanations I could find which might help: https://www.wypf.org.uk/pensioner/all-about-my-pension/contracted-out-pension-equivalent-cope-amount/
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How many years qualify
If the year on the Government we site says 'Full Year' does that mean that the year is a full qualifying year and counts as one of my 35 years?
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Portfolio Indecision, Much needed Help please
As part of IHT
planning , I opened a small SIPP but now the IHT rule changes has scuppered
that as it could incur a 60% tax to the beneficiaries. This SIPP is surplus to requirements.
I suppose, at some point I should be gradually drawing down to give away (maybe
in 6yrs). Meanwhile, the
SIPP has 30% in cash (2% interest)…
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Final salary v CARE pension
I have 2
small pensions with the LPFA and have been asked whether I want to combine the older
final salary pension with the more recent CARE pension. I am coming up for retirement in April 2025. I have
responded to the LPFA as follows: Please send me the valuation of what my full pension would look like if: 1. I
keep the 2…
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Most recent: Deferred uk pension .now abrad malaysia by molerat
9 January at 4:11PM
