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Pensions Planning: The NUMBER
The NUMBER is how much income you need to "live comfortably" So What's your number? Very important for pensions planning, to know what you are aiming for. My Number? (for a couple) I calculated: £22,000 based on Food £5,000 Car/transport £5,000 Bills/Utilities £4,500 Holidays/Leisure £4,500 Clothing/Cash/Xmas/Other £2,000…
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Success Stories - Pensions
This is a bit of a light topic where the idea is to highlight what successes you had with your pension pots. Example - I contributed X and accumulated Y by Z year. Total appreciation was 'x' percent. Just trying to learn the following that could inspire a range of people - those with no pension, those who started late etc.…
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Acronyms etc..
Hello to all. As a fairly new forum user I would appreciate someone posting a key to the acronyms and arcane terms used when discussing pension issues. Thank you in advance.
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Pensions, Annuities & Retirement Planning Sticky
Welcome to the new Pensions, Annuities and Retirement Planning sticky! 👋 📖 Here are some Forum threads you may find useful (if there are any you think have been missed, please do let us know): * Can I cash in my pension? * Early-retirement wannabe * It's time to start digging up those Squirrelled Nuts!!!! 📝 And here's some…
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Looking for a deferred IBM M Pension Plan Member for a possible Buddy Transfer
I am trying to identify other deferred members of the IBM 'M' Pension Plan, who are considering transferring to another platform but needing a 'buddy' to join up with for a block transfer which would retain any protected tax free cash.
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Capita Pension Delays
Hi, I requested my pension quote back in October 25 (to MyCSP on their system) and again in November 25 (by registered post) and then again in December 25 to Capital. I wanted my pension from early February 2026. I received an email in early April 2026 to tell me to wait - I am in a queue! Then nothing since. I'm getting…
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Topping up DC pension pot and carry forward question
We're planning to top-up my wife's pension pot that hasn't had additional contributions for some time but she does contribute to a work pension (DC). The plan is to top-up to utilise her full allowance for this FY (salary well below the 60K allowance). I assume this figure would be her salary minus her contributions but…
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NHS pension: what should I do?
This discussion was created from comments split from: Pensions Planning: The NUMBER.
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GMP Equalisation
Hi there, Has anyone experienced the following, and/or can anyone offer any assistance? I have a small DB pension relating to the time I was contracted out of the state earnings-related pension scheme. I was originally provided with a benefits pack detailing the benefits payable before and after GMP equalisation, and was…
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Paying for care
I am having a challenge raising money for my Mums care. I am her POA. She has been diagnosed with Altzhimers and had started to find it difficult and lonely to live at home alone. She elected to move to a care home ratber than have a live in carer. She is very happy and fully participating in activities locally with…
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New Capita-run Civil Service Pension Scheme - problems (what a surprise!)
So, Capita have taken over the admin for the CSPS and their new website and members portal went live this week. I have just registered on the new portal and am not in the least bit surprised to find that the information available on the new portal is very scant and incorrect in terms of my length of service. With…
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DB Pension - Tax Question
Hi Bear with me if the terminology is incorrect, I'm only just now getting to grips with this pensions malarkey! I have reached pensionable age in a DB scheme and I intend to start drawing this pension whilst still working. The DB pension is £200 per month (£160 after 20% tax). I was recently informed (not "advised") that…
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Thoughts on Delaying Claiming Civil Service Classic Pension
Hello, first post here, as I noticed some great advice on Civil Service pensions in the forum. I would be grateful for any thoughts or experience on my current dilemma as to when to claim my preserved civil service classic pension. Here's the situation: I turned 60 this year, so am eligible to claim my preserved Classic…
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NHS pension lump sum dilemma
Got an estimate of £37K and lump sum of £110k or £29.5K and £195k lump sum approx. But which one is best? £37k with some added part time work (for a short while post retirement) takes me into higher tax bracket and even after finishing work with cpi increase and SP will do the same in 7 years. £30k means some tax to pay on…
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Using my SIPP for an annuity
I am 59 and edging upto retirement. I have a large SIPP (£1.05m) and also an ISA (£450k) and are considering using my SIPP (or part of it) as an annuity thus effectively de-risking. I would like to understand how using my SIPP for the annuity would work from a tax point of view e.g. what happens with the TFLS and will I be…
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Employer pension contributions past state pension age
I have been in my company pension for 5 years. I've worked for them for 10 years. I wasn't originally auto enrolled as my earnings were too low, and I requested to join 5 years ago. I am 66 and have been informed I no longer qualify to be auto enrolled as I am past state pension age, which appears to be correct. I have…
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IFA for pension advice and fee - outcome
Evening… We consulted three IFAs to help us sort out our pensions and prepare for retirement at 65 (I'm 60, he's 63). The first never came back to us, the second wanted to push high risk products, the third was nice and easy and we've had our second meeting with that one tonight. Presentation and outcome was pleasing - we…
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Is contributing 100% of relevant earnings advantageous?
I'm considering the situation within the last (tax) year of working before retirement. If one's relevant earnings for the tax year were below £60,000, would it be advantageous to make a relief-at-source (RAS) gross contribution of 100% of those earnings to a personal pension before the tax year ended? In particular, the…
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Auto enrolment for 18 year old
I've managed to convince my 18 year old son to ask his employer to allow him to join the company pension. He showed me his first payslip with his contributions on. It didn't look like enough had gone into the pension to me. He queried it with his employer and they came back saying contributions are not made on the first…
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I can’t find my Topshop pension
I worked for Topshop (The Burton Group) from 1986 until 1996. I’ve have gone through several pension tracing providers and have come back with no results. I was 21 when I first started in 1986. Has anyone managed to find their Topshop pension around those times?
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Net pension / benefits / salary sacrifice
Good morning, Work / Benefits / Pension I previously posted on the forum about my place of work changing our pension sacrifice from NET to GROSS, where we will be taxed twice for our contributions. This is where I am not sure that I have this thread under the correct heading….. Due to the change in salary sacrifice this is…
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Age 57: ISA bridge or pension top-up for early retirement?
Hi folks, I’m 57 and trying to plan seriously for possible early retirement or semi-retirement. My aim is not to work full-time beyond age 62, and possibly earlier if realistic, partly due to health concerns. I own my home outright with no mortgage and only have a small remaining interest-free debt of around £1,000. I have…
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HMRC Online State Pension Calculator
Can anyone advise how accurate this calculator is ? My indicated pension is about £9 less than the maximum State pension per week. I'm ok with that having been contracted out for most of my working life and come to the conclusion that paying nearly £3000 to make up the difference is not worthwhile for me. I have 44 years…
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Bold leap into retirement
Morning all, I hope you have managed to find some time for yourself in what can be a busy period. We have enjoyed spending time with family over the last 3 days, it’s a quiet one today, then off to visit more family tomorrow. I’m not planning anything wild for NYE, but have been really starting to think about what I want…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
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Most recent: NI years are now full, existing OAP, when should I expect my monthly payments to reflect this? by Dazed_and_C0nfused
22 May at 1:38PM
