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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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car purchasing in retirement
looking at info on what others are doing/plan to do regarding funding car replacement during retirement. We’ll likely drop to one car next year which will need both to be sold as her’s is too small and mine is too big for the other to drive :) so how to finance. logically we should estimate how long we keep cars for and…
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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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Scottish Widows
Afternoon all, I'm looking for some basic advice please, I appreciate none of which will be Regulated but I'm looking to confirm my understanding and by association want to understand what Scottish Widows (SW) has done recently to determine the risk based on that knowledge. Apoligies in advance for a long winded initial…
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Civil Service Premium & Alpha scheme member
Hi, I have been in the Civil Service since 11/2004 and was originally in the Premium scheme but was transferred into the Alpha scheme. Like others I’m tied up in the McCloud judgement. I turned 60 in July 25 and so have 3 options, continue working, part retire or continue working. I also at 60 started to receive a private…
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Affairs in order (from a finance perspective)
Hi all While arguably could go elsewhere on this forum lots of knowledgeable organised people here and also definitely pensions is a major part of thing. Just been going through our legal affairs to address what should happen with everything in event of one or both of me and partner being incapacitated / dying. Checklist…
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Drawdown plan
Please can you critique my drawdown plan? 1: Basic needs are covered by partners defined benefit pension plus an Index Linked Bond Ladder covering between retirement and State pension age. 2: Nice to have’s, holidays new cars etc etc are to be covered by a SIPP pot plus S&S ISA’s (x2 one for me one for my partner) 3: We…
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Stick or twist
An unfair question perhaps but opinion welcome. Both my SIPPs are either (relatively) low risk global/S&P/Far East/Europe trackers, else a few single equities - Shell, Babcock, Brit. Aerospace, and star performer BGEO/Lion Finance. They have all done pretty well and continue to do so. The latter amazingly so. I am now at…
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Qualifying NI years for full new state pension
My wife will be able to claim her new state pension from June 2035. She currently has 27 full years of NI contributions shown on her personal tax account online. It also says she needs to contribute another 10 years (as shown below). However, that will bring her qualifying years up to 27. When I search online I see that…
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Paying into SIPP and a workplace pension
I took a voluntary redundancy package in December and I'm now starting my retirement journey. I was paying into a workplace scheme via salary sacrifice (50% salary) and also sacrificed bonus plus redundancy amount above £30K (which went in as an employer contribution). Given this is the likely final year with significant…
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Gifting out of excess income re dc pension
I understand how to work out ‘excess income’ from a db pension, I guess if you are left with surplus money every month it’s quite simple and understand the rules about regular payments and keeping documentation but how do you work out ‘excess income’ when you basically have just a dc pot. Including State Pension I only…
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When to cancel transfer of married allowance?
My wife has transferred 10% of her income tax allowance to me (marriage allowance). She has only had very limited income for a number of years and didnt use all of her allowance. Next April (in new 2026/2027 tax year) she will start to take her DB pension and will be paying basic rate tax. So she will stop the marriage…
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The Pensions cashback and incentives discussion thread
Lots of coverage on incentives for current account switching, but none that I've seen for pensions. I kind of get it - bank accounts are a well oiled process, don't involve long waits, differing paperwork requirements, and potentially large sums needing to move. But given that the demographic of this board is made up of a…
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Employer's pension contributions - statements
Hi, new here, I hope I'm in the right place! I am in a workplace pension scheme, to which my employer makes a monthly contribution, as do I, directly from my salary. Recently I have had notification from the scheme provider that my employer has missed a number of contributions. I have a statement of contributions from the…
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GPPP is it Workplace or Personal - limited to 3 cash-ins?
Hi all, Going through some pension documentation for a friend. We're trying to trace some, update others with correct address and personal details. Basically, get them all registered for online access and see what is what. As my friend has worked a number of jobs over the years for fairly short periods of time, each…
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Drawing from an inherited SIPP pot - MPAA is NOT triggered?
Anyone else read the article in today’s Telegraph? Quite apart from the imminent changes to the fee structure, I think what I’ve read this morning (assuming I’ve understood it correctly), is probably the final straw for me. Over the last few years, I’ve had cause to raise complaints about the service I’ve received - I…
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Switching from Hargreaves Lansdown due to new charges
I currently have a SIPP with HL worth less than £100K however am concerned around the new charges particularly the fund switching fees of £1.95 per trade which feels v high. Have other readers switched to other platforms. If so what ones did you switch too and are there services and charges better?
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How many funds should I invest in a SIPP?
Currently switching my wife's and my pension from Nest to a SIPP with Interactive Investor. How many funds would be the right amount to split it between? We have around 800k in total.
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Most tax efficient way to draw down personal pension
I am 60, retired early and look forward to an NHS pension when I am 65. In the meantime I have a personal pension of about £70K which i would like to withdraw ALL as income between now and then (2030). I have no other income but living on my husband's pension. What is the most tax efficient way to draw down the £70K? -…
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Civil Service Pension & Tax
I was retired from the Civil Service on the grounds of ill health in 2013 (I was in the Classic Scheme). Due to circumstances, I didn’t claim it at the time; I am now looking at doing so. My annual pension will be 12k. MyCSP have confirmed that it will be back-dated (ie 12k x 12 years = £144000). What I was hoping to do…
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Dreadful returns and dreadful service from Best Invest SIPP. Alternatives?
I am 79 with around £75k in a SIPP with Best Invest. The service is dreadful with them seldom replying to emails and the return is awful - just over 1% in the last year and only 2.8% pa over the last 5 years, when the stock market went up 13%. Can anyone suggest a better provider?
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: Voluntary NI Contributions – What to Expect After Requesting a Callback by AKUK1
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