Deferred IFA

xylophone

And also posts 23 and 24 of the above.

orwen

Thanks Xylophone. I have now phoned the DWP State Pension service and they are issuing me my formal State Pension forecast by post in '10 working days'. When I receive this I am to phone them again to discuss my next move.

Wherefore the gov.uk online pension calculator forecast?

Will update.

xylophone

https://www.gov.uk/government/publications/application-for-a-state-pension-statement

Perhaps wait a few months until fully updated?

orwen

xylophone wrote: »

https://www.gov.uk/government/publications/application-for-a-state-pension-statement

Perhaps wait a few months until fully updated?

Thanks. Wait a few months to do precisely what though, and until what or who is fully updated? Are you suggesting that the DWP State Pension department will not be issuing reliable forecasts for some months to come, because of all the changes they are having to implement please?

xylophone

Wait a few months to request a state pension forecast in writing.

It may be that NI information for 2015-16 has not yet been taken into account?

orwen

Thanks. Taken the forecast/statement which is coming through in a fortnight that will make something like 3 State Pension statements in 6 months, none of which can be stood by. Why I wonder didn't the DWP ask me to wait a while instead of sending yet another forecast which may raise expectations only to have them dashed subsequently, and me still left asking how to increase missing contributions? What a way to run a country.

Be that as it may be, I will come back to the forum when the next forecast duly arrives.

bigfreddiel

xylophone wrote: »

Wait a few months to request a state pension forecast in writing.

It may be that NI information for 2015-16 has not yet been taken into account?

That may be correct, up to 5 April, the beta system showed what I may get when the 2015-16 NI contributions are incorporated.

Now, after 5 April, there is no mention of the 2015-16 contributions, it just shows what I'm entitled to up 2025, and what I may get in July 2016 when I reach 65. This number is lower Thant the forecast prior to 5 April, and is till just a forecast and may change.

So I don't believe the DWP is able to work out exactly how much we should be getting, it's probably within a few pounds either way.

Cheers fj

orwen

Thanks. Guess I'll put a ring round June 1st then try the online forecast again then. Meanwhile they are sending a forecast by snailmail - will update when that arrives.

orwen

orwen wrote: »

Hi,

Been here before but was derailed due to unforeseen circumstances.

Am intending to visit a local IFA this month, is there a check list for everything I need to take with me please?

My pension begins next week but may take a while to come on stream. I have a SIPP and investments, so will be taking all that paperwork with me. A rough list of outgoing expenses will be drawn up. Is there anything else I'd need please?

Many thanks

Hi,

With a year or so of IFA searching under my belt I have a few questions please?

I now understand that an IFA is a business which needs a profit margin at the bottom line. It follows that I am wondering why I don't let my platform, Hargreaves & Lansdown, also advise me on what is best for my holdings? Both HL and any IFA will probably have vested interests in what they advise, so I can't really see a great deal of difference between them, unless you are a stocks & shares sleuth and can do everything or a great deal for yourself, but I am very much a lay person here.

Many thanks.

dunstonh

It follows that I am wondering why I don't let my platform, Hargreaves & Lansdown, also advise me on what is best for my holdings?

Because their DIY platform is non-advised.

Both HL and any IFA will probably have vested interests in what they advise, so I can't really see a great deal of difference between them, unless you are a stocks & shares sleuth and can do everything or a great deal for yourself, but I am very much a lay person here.

The IFA does not have vested interests. HL retail their own product and funds. That is a world of difference. The IFA earns the same regardless of provider or investments. If you use a distributor who uses their own product then they earn from the advice, the platform/product and funds.