Deferred IFA

maximumgardener

xylophone wrote: »

You need to distinguish between comments on deferring the State Pension and those on deferring an occupational pension.

It may be helpful if orwen (OP) advised his age ?

perhaps state pension deferral is not on his "agenda" ?

maximumgardener

maximumgardener wrote: »

It may be helpful if orwen (OP) advised his age ?

perhaps state pension deferral is not on his "agenda" ?

OK ......noted OP is 60 !

orwen

Update: Visited the IFA, they are asking some £2K to begin a Financial Plan, that does not seem unreasonable at the moment?

orwen

orwen wrote: »

I'm not deferring, I was told deferment might actually harm my pension, not enhance it. TPS 'task tracker' currently has my pension benefit at 60% processed. Will update.

TPS Task Tracker now shows 100% but no sign yet of any pay advice. A pdf detailing my pension was emailed to me today. I wrote back and enquired as to when the pension award will actually begin please?

maximumgardener

Maybe you should phone and ask them?

quote any reference number on the pdf they sent you?

or maybe get advice from someone you know who has done similar process

orwen

Thanks, I'll phone them tomorrow. There is no sign at all of any movement in the designated bank account - I wrote to them two months ago to remind them that my retirement was imminent.

maximumgardener

somewhere in your pdf you should find your "date of retirement" ?

can you say what that date is?

its up to you not the pension company to decide the date.
they must agree the date is within rules etc, of course.

orwen

Many thanks. Officially I retired the first week in March. TPS wrote and told me their pensions are paid a month in arrears so all is fine. The first pay advice will be issued early April. I was worried there'd been a hitch but it's all gone through. The lump sum should be with my bank by tomorrow. Believe it when I see it though

maximumgardener

yes indeed ..these arrangements do take time.

your pension payment month in arrears is standard, I believe ......glad its all taking shape for you.

good luck

orwen

Hi,

Also have a SIPP with Hargreaves Lansdown and other investments. In comparing this month's total with last August I notice the overall amount in my account has gone down. My SIPP has increased slightly though.

Is there a window at my HL page which will explain - as opposed to just chart - rises and losses? I am curious about whether losses are due to HL fees or the vagaries of the stock market, or a combination of the two (or more) please?

Thanks.