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Effective Tax rate withdrawals
Thinking on my position along similar lines to this thread. Current Situation - Still a long way from retirement in age, if not money. 44 Married. Me - £750K in SIPPS - Contributing circa £30k a year to get down to BRT Missus - £150k in SIPPS - Contributing £3.6k a year. Salary £32k so could be a lot more Combined ISAs -…
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state pension payment date
I live abroad, have claimed my UK state pension, and just received a letter of confirmation. It explains how much I will get (exactly what I expected) and how it was worked out, but it (oddly to me) doesn’t state the date when the payments will actually begin other than explaining it is paid in arrears at the end of 4…
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Found forgotten Workplace Pension
Hello. I have recently tracked down a workplace pension that I had paid into for a few years from some while ago. Long story short- Age 55 , self employed sole trader ( for a long time) and only just (rather late) started a SIPP following some great insight on this forum so literally just late navigating & understanding…
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85 year rule
Hi, I would like some advice on the above. I qualify for the 85 year rule when I'm 60, currently 53. i understand that any contributions made before 2008 are protected. I have used the LGPS pension calculator and it makes very little difference whether I retire at 59 or 60, just the usual increase that you would expect to…
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My Wealth Private (Wealth At Work)
Does anyone have any experience of moving their savings and/or DB pension to My Wealth Private for them to manage? I'm approaching retirenment in BT. Their seminars and individual advice has been very good so far, but I'm undecided about transferring everything to them to manage, as I can find very little around their…
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Protected Rights pot (contracted out of serps)
I joined the nhs in the late 80s and stupidly didn't join the pension scheme. I took out a private pension in the early 1990s, with which I purchased nhs pension years in mid 1990s. A colleague told me she found an old contracted out of serps pension. Could I also have a similar pot from the early 1990s? Checking on…
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First SIPP with 100K lump sum allowed?
Could anyone clarify a question on SIPP contributions please? I would like to open my first SIPP and pay in a lump sum of about 100K I have my Nest contributions directly from salary which were approximately 2K last year. This is the only pension scheme I have been contributing to and it started 8 years ago. Given tha, am…
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Relationship between pension income, savings interest and capital gain
Hi All, I am trying to discover the impact of a significant capital gain on my pension income and savings interest taxation for planning purposes. I have a personal pension (so I can vary income drawn) and cash in the bank earning £5,500 pa. Historically I have kept my pension income at my personal allowance of £12,570 and…
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True Potential redress offer
My wife and I moved our pensions to True Potential back in 2021, upon the (verbal only) advice of our IFA at the time. After a couple of years, I realised that this was a mistake and eventually moved everything over to a DIY platform and happily manage this all myself now. I didn't complain at the time, just wanted to move…
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Pension Commission (interim) Report out today
https://www.gov.uk/government/publications/pensions-2050-evidence-and-future-priorities-interim-report The interim second Pension Commission report has come out today. This Commission is exploring the long-term questions of adequacy of pension provision and retirement outcomes in the UK. The Commission will publish and…
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what percentage of equity do you hold in your retirement pension ?
https://global.morningstar.com/en-gb/personal-finance/how-make-your-money-last-retirement i know some posters on here say they have 100% equity , and 60:40 seemed to be most common, but this gives food for thought , for once retired , if your exposure should be lower Mick
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Withdrawals from consolidated dormant Pensions
My husband and I both have old dormant pensions that we do not contribute to but are still increasing due to investing. We were thinking of withdrawing a lump sum from our from this pot to pay off our mortgage; as we both still are working and both are in the 20% tax bracket and contributing into work place pensions. If we…
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FIRE Girls Pension Diary - Aim High & Dream Big
10 year targets are set and I'm aiming high and dreaming big. :) A bit of background. When I was young I grew up with a family of 4 children, Dad worked and Mum stayed at home. We had very little material things or new clothes and I remember I was always dreaming of how I could possibly become a millionaire. So why not…
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How is ill health efficiency worked out in CSPS (Nuvos/Alpha) ?
I have a link to the various CSPS guidance Notes but I am struggling to see how to work out my reckonable service from the guidance notes. Edit - removed identifying detail
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Pension Transfers
My wife is 68 and has a Personal Pension with Octopus (formerly Virgin) called a Self Drive. . Octopus do not permit the taking of a 25% tax free lump sum and also only pay out as lump sum. They suggest she transfers it to a company that does. Do anybody know of a company that permits transfers in - then a 25% She has her…
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Small pots £10k rules - the latest mse email
Just read the latest email email explaining pensions. Read the low incomes tax reform group website too. What's to stop someone who is age 55, working and in the 20% tax band from starting a small pension say £6000, getting 25% tax relief making it £7,500 Then cashing it in. Getting 25% tax free £1875 and paying 20% tax on…
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Pension to savings ratio
I'm hopefully thinking of retiring in 2-3 yrs time. Will be around 65 at that time. For a years, I've been able to both save in Isa's & contribute to my pension (sipp) Self employed sole trader, if it helps. Lower rate tax payer. I'm a bit unsure which to contribute to more. Atm I have around 130k in pension & 110k in…
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Vanguard Funds' withdrawal allocation.
I have an UNcrystallised SIPP with Vanguard, worth £90k. It comprises £64k in FTSE Dev World ex UK & £26k in VLS60. For the first time, I have requested to crystallise £20k of VLS60 in order to take £5k as a TFLS. This would leave VLS60 with £6k uncrystallised & £15k in drawdown, or so I was led to believe. Vanguard sent…
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Advice for Aviva Pension
Hi, I have an Avival Personal Pension Plan that I've had since 1989 so it's the old style plan with limited retiremnet options. I'm 64 and my pot is around £140000 so not that great and would give a low annuity. I'm interested in drawdown as I work for myself and am happy to contunue working part time. Any advice on…
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sense check my plan?
hopefully this kind of thing is ok. I’ll try and keep it specific - any questions I’ll do my best to answer. I’m at the point where I’ve refined as much as I think is reasonable without going around in circles. Potentially willing to do a paid IFA pass but that is around 2-3k so might wait until closer to retirement date…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
748 discussions
6.5K comments
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
