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Pension with both a deferred and Protected Rights section.
I have an old pension that has a deferred annual pension of 5k and also a section which states "Plan was contracted-out of the State Earnings Related Pension Scheme (SERPS) on a Protected Rights basis" Value of the Former Protected Rights Account (PRA) value is 13k. It goes on to say "IMPORTANT NOTES ON YOUR PLAN BENEFITS…
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Retiring but still a few uncertainties
I went back to an old post I made here, back in January 25, in it I was considering retiring August 25 at 53 years old. Well, I didn't, but I'm about to hand in my notice to retire this August when I'll turn 54. So back then I was in the process of reducing my hours to 26/week. I did, and worked this for a year and then…
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Annuity maturity pot
Next year (2027) I come to the end of my fixed term Annuity. I have a guaranteed maturity payout at the end of the term and would like to know what my options will be with that. I appreciate I can just buy another annuity but can I take any cash from it? I appreciate it would be taxed. I am looking to have surgery and if I…
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State Pension non reciprocal country ?
I am aware that people who claim the UK state pension whilst living in non reciprocal countries eg Canada, Thailand, Brazil etc do not get the annual increase. However how long can you visit one of these countries without it affecting your annual increase? Thank You.
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Getting the money!
I currently have a DB pension with £22,895 in it, retirement June 2026. I was asked how I wanted to take it. I elected for the trivial commutation lump sum because I have urgent roof repairs to fund but because I closed a different pension for £8,158 some years back I’ve been told that I can’t because: “The capital value…
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Hyder Business Services/Mouchel
I worked for an engineering company called TBMA uk Ltd back in the late 90s for four years and they set up a pension with Canada life. I want to access this pension, I contacted Canada life and back in 2008 they transferred £2500 to Hyder Business Services in Lincoln - known as HBS) HBS were taken over by Mouchel who was…
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Basic SIPP scenario - guidance needed rather than hard advice
Ok, so I am 59 and plan to retire next year when I hit 60. I work and I am a higher rate tax payer and have a workplace pension starting at 60. I have just inherited 100k and exploring options for making this work for my retirement. A SIPP sounds like a good option on the face of it. So I would plough 60k into this and…
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LGPS & State Pension Age
I and 43m and joined LGPS in 2017 on the CARE scheme - which I understand is tied to the State Pension Age. For me, this is currently aged 68. (with the increase from 67→68 scheduled for sometime 2044-46) The current implementation of the SPA rise to 67 got me thinking about the risks around this for planning for…
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Tax relief on contributions for a low earner
Help me out here folks A relative has just left a job but is keen to continue contributing to the occupational pension which is held with Scottish Widows. They would like to pay the maximum they can. As a low earner (they have found another part time job) they may not pay any income tax in the year 26/27. Let's say they…
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Diabolical pension inheritance tax on death 2027.
So this new 40% tax on any pension inheritance is apparently coming in 2027. What is the inheritance tax if a family member were to inherit their parents savings in an ISA or ordinary savings account? [Some text removed by Forum Team] Thank you.
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Help with Gretel. 0 matches
Hi, I'm trying to find a pension. I was a contractor for a short time around 20 years ago. I used a company (Can't remember the name) to do my tax, national insurance and a pension. I signed up for Gretel to try and find the pension but Gretel has found nothing. I thought it would find something, Even the pensions I…
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SIPP withdrawal while relief is pending.
Apologies if this has been asked before. I made a small contribution to my ii SIPP, but subsequently decided to withdraw a larger lump for a holiday. I raised the cash by share sales, but during the withdrawal process I was warned that if new money was added, withdrawal would have to wait for tax relief to be posted. Since…
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Buying an annuity, why does RPI get a better output that LPI?
As per the title question. I've been going on all the annuity tools and calculators and find like for like quotes, RPI gets a better initial payment to customer than LPI. LPI is apparently limited to a max 2.5% or maybe 5% and I just can't understand why RPI pays out more? I must be missing something as I normally do. Any…
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(Bit niche!) - Finanzamt/german pension tax portal - offline for ages?
Hello there - I'm trying to help a parent with their German pension tax payment, which is usually made via the Finanzamt Neu Brandenburg online payment portal. However, this has now been ' currently unavailable due to a maintenance window' for several weeks, with no obvious suggestion how else to make payment. I've emailed…
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Pension Carry Forward
I get a little confused about the pension carry forward rules. Can someone please help. If I could give an example based on my own situation with an Aviva defined contribution scheme. 2026-2027 annual salary 60,000 pension contribution so far this year 27,000 Gross (1 off inheritance + higher first contribution) so this…
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The Lifespan Fund plan - a state pension idea from the Tony Blair Institute for Global Change
Nothing like an idea to change the State Pension to get some discussion flowing: https://institute.global/insights/economic-prosperity/the-lifespan-fund-reforming-the-state-pension-for-a-more-affordable-flexible-and-fair-future In summary their plan recommends this be introduced in 2030: the pension (or fund) increases…
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Financial Planning
Hello Group, I would like advice about how to bridge my income until my state pension kicks in. I am 63 now with a mortgage left of £21,500. I have 7 years left to pay it off and have a monthly payment of £309. I am however claiming Universal credit (LCWRA) which provides me with insufficient income for my expenses. I have…
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Pension fund comments
Hi all, looking for some pointers. I’m 42 and have been assessing my retirement fund following the recent sudden death of my father (aged 72) which has made me look at my own plans. I’m now considering taking an annuity at about age 60 with part of the pension and drawing down on the rest in an attempt to use it all up…
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Is what I am doing sensible? What would you do
Age 46, partner 41 We've hit and then exceeded our 'number'. We live a relatively modest lifestyle, no debt other than £167K mortgage on house worth 500K+ Our retirement provision is: A LISA each, combined value £100K+ in 100% passive global equities Partner is in LGPS (albeit low paid and only 3 years service to date) We…
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Should I attempt to drain my DC pension pot before reaching state pension age?
I am currently retired with a USS DB pension of approximately 36.5K/year. I also have a USS DC pension pot (the so-called USS "investment builder") of approx. 45K and a SIPP pot of about 18K. I also have in the region of 2K to 3K/year of taxable interest and/or dividends from non-tax sheltered investments. I will reach…
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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
