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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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Tax Refund Query
I took an additional lunp sum out of my main pension (which I take a monthly payment from) in December 2025 which triggered a large tax charge. I submitted a P55 and have now got a new cumulative code for this pension. The HMRC letter said any adjustments would be via PAYE. However I now have only 2 months left in the tax…
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NI contributions for early retiree
I'm due to retire at 59 and have fully paid up NI and due full state pension when I get to that age. I know I don't pay NI on my personal pension but do I have to register anywhere for NI credits
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It's no brainer to consolidate my pensions into Fidelity or other cheaper SIPP?
Hi fellow members, I’ve more or less made up my mind to retire once both of my sons have finished university. My pension + ISA is about 1.7m. I have several pension accounts from previous employments. My current workplace pension with Fidelity is very flexible, and the only charges at the moment are the fund management…
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Pension fund first or SIPP
I may well be retiring this year at the age of 64 1/2. I can claim my West Yorkshire Pension Fund, or leave it for a year or so? I also have shares invested in a SIPP, so which to claim first? Whenever I claim the WYPF, it will always increase with CPI, where as the SIPP invested in shares, will generally increase more…
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£60,000 a year pension cap
Hi reading the .Gov website its say 1 can put upto 3 years of £60,000 into your pension however you have to be earning over that amount with very high earners also reduced to that amount - my wages are only 35,000 not sure as it's not stated on the .Gov website how 1 goes about adding as I am allready trying to have…
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A few numpty pension questions.
A few numpty pension questions. OK some back ground ,I have a DC pension with Zurich that is around 35 years old. Being an old school pension, it is very inflexible. It does not do draw down and I have to take it by my 75th birthday which is only a few years away. As far as I can see, the current pension does not have any…
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Teacher's Pensions Transitional Protection Payment
Hello, I was just wondering if there was anyone here who has retired from teaching and have received their transitional protection payment. I returned my form nearly 6 months ago and have contacted TP asking if they were still on track to make the payments within the 6 month window they had allowed themselves. I have sent…
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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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Fine tuning pension options to avoid HRT
My plan has always been to have around £36,000- 39,000 a year after tax in today’s money. Given that, and that a chunk of my income was monthly drawdown with 25% tax free I thought I was well under higher rate tax and didn’t pay it a lot of attention. However, I have decided to take an annuity with half my DC pot, in…
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Tax and Drawdown
My DW will earn circa £5k from her savings (ex ISAs) in tax year 25/26 which will be tax free as covered by the £5k starter savings allowance. Her tax code for 25/26 is C1131N and she has utilised her personal allowance and withdrawn £11,310 from her crystallised DC pension pot. However, she's been taxed £187 in tax when I…
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Interesting week for pension fund value
Seemed like a strange week this week - US markets keep going down every day, but my global tracker funds keep going up! Must be FX I guess.
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How much State pension will I receive?
Hi, this financial year 2025 to 2026 is my first year received the state pension, so I’m trying to work out how much I will actually receive. If it matters my birthday is on the 6th of April, so in March last year I received a letter saying that I would receive a payment of.£922.02 on 1st May 2025 and then £1,000.16 every…
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Providers that preserve protected pension age on transfer in?
Hi all, I'm about 3 years away from retiring and I've discovered that my main DC pension with Aviva (a TK policy) doesn't provide FAD. I'd need to contact them every time I want to make a withdrawal apparently. However, it does provide a protected pension age of 55 which will be really useful. Aviva's fees aren't super…
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New State Pension Query
I would be most grateful for thoughts on this please. I was listening to a WHICH podcast today where they referred to people born in certain years having to wait a bit longer than age 66 to receive their state pension. I am one of those, having been born in July 1960. The podcast was giving examples saying if you were born…
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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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Pensions and Claiming Benefits
Hello all, Newbie forumite here, so please go easy with me. I’m currently in my 50’s and claiming benefits as a disabled person. My question is, can I start a pension and contribute to it whilst claiming these benefits? Any information and advice that could be imparted, to help me understand what I can and cannot do under…
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Workplace pension and tax year of contributions
I salary sacrifice into a workplace pension with Aviva. I'm paid and get payslip at the end of the month, but the pension payment is normally credited to my pension a couple of weeks later. For my march salary paid in march 2026, if the pension contribution doesn't reach Aviva until after 6th April, does it count as a…
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Please could I check if you think this makes sense
Hello. This is my first time on here and I wondered if I could ask for some views please. For the past 8 years I have saved to ISA’s and not a pension. I will be stopping work at the end of April and wondered if it might be worth me opening a SIPP and paying in this year’s salary. I will earn £29K this year but will be…
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A couple of questions
My mum is 75 and had kids in 77, 82 and 84, she did not work during this period and claimed child benefit. She retired several years ago but isnt in receipt of a full pension. So possibly has a claim. There are however some added complexities, which might explain the reduction she recieves. 1) She emigrated to the USA in…
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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…
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
25 February at 4:07PM
