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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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Teachers Pension - Retirement Planning
Hello all, I am looking for some pension advice for my Teachers Pension and am not sure where to go. I have had some very brief discussions with the pension service but it was both too broad and went a bit over my head, and I believe I can't get advice from Pension Wise because they offer their free appointment for defined…
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SIPP contribution needed?
Having salary sacrified throughout the year, I am now down to gross salary of 112k and cannot put do any further pension contributions. I plan to put some money into a SIPP to get me under 100k. Will a bank payment of 10k from myself be enough in view of 20% claim back or should I pay 12k from bank account into SIPP?
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LGPS - checking pension contributions
Hi, I saw a post on Martin's FB page about checking that all your pension contributions have been allocated to your pot. Do I need to do this for LGPS, and if so, how do I go about doing that? I can't see a monthly break down on the portal - is it a case of going through the annual statements? Thank you!
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Unused SIPP allowance from 2022/2023 tax year
Hi, I have a SIPP with II and I can see that I haven't used any of the allowance for 22/23. Is my understanding correct that I can use 22/23 as long as I make the contributions before the 5th of April as it is within the 3 years? I've never used carry over before so I'm unsure as to how II handle it or the process for…
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Calculating SIPP Contribution
Just trying to work out how much my other half would need to pay into a SIPP to get her out of the 40% tax bracket this tax year. Two sources of income with 25/26 tax codes and taxable pay for each as below: Taxable Salary of £19,920 taxed at BR Pension Income of £34,040 taxed at 342L Total income = £53,960 plus some…
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I asked ChatGPT to simplify and sort out my investments
I have been looking at sorting out the isa/pension investments for me and my OH as they are currently across 3 providers (Vanguard - OH, interactive investor (me) and L&G (me) (ex-employer master trust in drawdown). Total approx £1m and not really used for day to day as decent DB in play. My allocation for the last 5 years…
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Cash SIPP - HL still best option?
Apologies if this has been discussed elsewhere recently, but a search didn't turn anything up. I wish to open a SIPP before the end of the financial year to deposit £2,880 pa in until I'm 55. I don't plan to trade, and will just hold as cash for a few years. Is HL still considered to be the preferred platform for this? Or…
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NHS Pension Extra Contributions - HRT
A friend of mine who works in the NHS and is a Higher Rate taxpayer has asked me about making extra pension contributions for tax reasons. I assume she means tax relief, particularly any amount that she pays 40% tax on. I have had a quick look at the website and it looks like there are 3 choices, very similar to the Civil…
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Tax Free Lump sum
I have. Private pension from when I contracted out of SERPs. I am 55 and have a civil service pension. I work full time and will continue to work for 7 years. I earn over £40K. I have checked my state pension and have paid enough NI to receive full state pension. I would like to take 25% tax free lump sum from private…
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Is it worth keeping a Stakeholder Pension
hi I did have 6 different pensions from various employers etc I have since transferred 3 into vanguard, so left with 3 now Main pot Royal London and a Vanguard sipp ( although no truly a sipp), but i also have a RL stakeholder pension value less than £200, is there any benefit in keeping this?
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Pension lump sum contribution
Hi member of SMART salary sacrifice scheme with my current employer with salary of around 28k and on call allowance of 5k. I wish to make max lump sum contribution to my old employee scheme . What is the max I can put into this and take advantage of tax relief contribution? , do I need to allow for my salary sacrifice…
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Increase pension contributions and live off salary and savings.
Reading a comment on another thread just got me thinking. I am a 40% taxpayer this year and, all being well, will be a 40% taxpayer until I retire in 3-5 (hopefully not more) years. For 2026-27 and 2028-29, it looks like I can contribute 24% of my salary via salary sacrifice to remain in the 20% tax bracket, when factoring…
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Pension Drawdown in the new Tax Year
I know I am over thinking this, but not sure what to do in the current market? I an in my early 70's and normally drawdown a sum from my DC pension to take me just below the 40% tax bracket at the start of a new tax year. Currently have a full state pension and a small fixed DB pension. The drawdown would be 5% of my…
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Keeping things simple approach in an HL SIPP
I have recently retired and have a DB pension and 2 workplace DC schemes. I have just opened an HL SIPP to utilise more of my possible tax relief for the 25/26 tax year. I would like to aim for 60% global equities, 35% Fixed income/MMF and 5% cash. Any suggestions for a handful of funds to consider? Thanks.
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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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Timescale to move from SIPP to drawdown AC with Hargreaves Lansdown?
Has anyone submitted an application to HL recently to move money from their SIPP account to their drawdown account? I am trying to get an estimate of the timescale it is taking. I made an application on 6th Nov, got a confirmation email saying 20 working days. That has now passed and I have messaged and called them for an…
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Capita Data Breach/Barings
I’ve just had an email from (Removed by Forum Team), Head of Data Breach at Barings Law advising that he is moving to Abbleys Solicitors and taking the Capital Data Breach case with him. Has anyone else received this? Wondering what the implications of this are? Thanks
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LGPS - AVC or APC?
I'm 53 and would like to retire a few years early. My current salary is £43k. I've been paying into LGPS since 2003, with a break just short of 5 years when I moved into the private sector. Jic it makes any difference, I've linked my old LGPS pot to my new to benefit from pay increases. I'm not sure of the longevity of my…
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Help with knowing how much is 'needed' to retire?
Online calculators to me are quite worrying in that it seems to be unless you have a pot of £1million then you're going to struggle in retirement & while some will be fortunate enough to be in that position, I certainly wont. I doubt many of the people I know either will be fortunate enough for that yet they seem to do…
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Voluntary NI payment from abroad. Any fees on UK/Barclays account side? (HMRC)
Paying 923GBP into the "GB49 BARC 2020 4830 9447 93" account for 2025-2026. This year I'm paying from Ireland (Bank of Ireland account). Last year, from another bank in Europe, I could select "pay fees on both sides" ("OUR" or something like that.) Bank of Ireland/Ireland charge no fees for transfers to the UK. But there's…
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: Pay old Class 3 contributions or just recent Class 2? by mountainsandoceans
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