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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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LGPS and AVC queries
Hi, I've just been looking through my pension forecasts. I'm hoping to retire in 9 years time - 60 years old. I'll have a LGPS of £23,000 approx per year. I've just started to pay more towards my AVCs in the hope that I'll have a pot of £75,000 ish when I retire which I can take as a tax free lump sum. I'm thinking that…
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Paying more into employers pension scheme?
Is this a sensible choice to make…? My 19yr old son is doing an apprenticeship and is joining his employers pension scheme, His contributions default at 5% of earnings with his employer matching them, but he can increase his contributions and his employer will match them. He wants to pay 7.5% but I want him to pay in more,…
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Transfer from HL to II
I am going to initiate my transfer this weekend I have been reading the information about transfers on both of their websites. However I have a couple of questions that I could not see answered in their FAQs. I will be doing an in specie transfer If I hold a OEIC with a different share class to that is available in II, do…
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SIPP death benefits after April 2027
Can I just check whether my understanding is correct, please. Assumptions: I die before my wife. I die after age 75 The IHT nil rate band will be used up by other assets. When I die, the SIPP will be passed over to my wife, who can continue to draw an income (on which she will pay income tax), but IHT will not be an issue…
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Bold leap into retirement
Morning all, I hope you have managed to find some time for yourself in what can be a busy period. We have enjoyed spending time with family over the last 3 days, it’s a quiet one today, then off to visit more family tomorrow. I’m not planning anything wild for NYE, but have been really starting to think about what I want…
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Pension 25%
I have reached the age of 55 and found myself out of work as i could not work in my last job for much longer. I currently have around a large sum in my pension which i can now draw.I was looking at taking the 25% tax free and leaving the remaining 75% invested iF in the future i wanted to take further amounts of the 75%,…
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Third Party Pension Contribution to Daughter
I want to make a regular Third Party Pension Contribution to my adult Daughter's SIPP. The SIPP is with one of the major providers. The contribution would be a regular "gift" out of my excess income, so would not be affected by any IHT issues. I do not want to make the contribution direct to her own current account, as I…
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Gilts - pricing
Folks Bought a heap of ILGs via Bell in a ladder and one that matures in 5 years. Put me right here please. The value of the gilt fluctuates with the price and the change being the difference over what I paid for them. I assume should I wish to sell them before maturity, then it is advantageous that change is positive -…
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HL to ii Final Transfer Summary
My wife has transferred her SIPP from HL to ii. The funds and cash have all landed in her ii account and she received a P45 from HL on 19 March. However ii say that she can't yet make withdrawals because they are awaiting a Final Transfer Summary from HL. She has asked HL to expedite this and received a holding response.…
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Yes I know these are basic questions but......
I can't for life of me find the answers already on the forum. I was auto enrolled in a Nest pension with my employer. I’m paying the basic 5% of the qualifying amount and the employer 3%. If anyone is able to answer it’ll be bound to generate a few more questions. 1.I understand that I’m not paying income tax on my…
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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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SIPP help - urgent!
Hi there, My partner is receiving a large bonus with the end of March salary, which will land in the bank account tomorrow. It was expected for April payment initially but employer decided to pay out this tax year. My partner is on a salary sacrifice scheme and the pension provider is Aegon. The issue is she missed the…
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LISA query
This discussion was created from comments split from: Success Stories - Pensions.
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Sipps with 3 years to go
Are people holding their nerve in the current climate? When only 3 years to retirement? I am thinking of switching to dividend paying funds , not selling, and hoping things will change in the next few years . I have a 60/40 split. Equities/cash etc. Others??
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Switched from Relief At Source to Salary Sacrifice
I have asked a very similar question previously but just want to clarify things as its getting to that time of year where I have to fill in a tax return - I am a higher-rate taxpayer and anything over the 20% tax threshold I was paying into my pension scheme rather than paying the 40% tax, up until December last year I…
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What happens if you straddle pension age increase?
On 6th April 28 minimum pension age increases to 57. My DOB is Oct 71. If I start accessing a DC pension from Oct 26 (age 55) can I continue? Or on 6th April 28 (age 56) will there be limits on how I can access my pension? What are the guidelines? I'm thinking I would be able to access crystallised funds in a drawdown…
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PCSPS members annual increase letter question
Ever since I retired eight years ago I’ve received (in early March) a letter from civil service pensions informing me of the details and amount after tax of the new pension payment for the forthcoming tax year in April. For some reason, this year I have received no letter or information!! Have any other PCSPS members…
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TFLS age
I am a few years from retirement. But could be looking at a redundancy in the next couple of years. Just looking into options, with nothing firm. But I have been researching when I can draw on my TFLS. My current age puts retirement at 67, which means I can't access my pension until 57. However, I have read that the age at…
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Any point in invsting in a SIPP after 75?
With the loss of tax relief on contributions and SIPPs being brought into IHT scope, assuming providers even accept contributions after 75, is there any point? It would seem the best option would be to redirect any available funds into an ISA / give to family / paint the town an appropriate colour!
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Financial planner to test my retirement planning?
Hi everyone, I've been planning for my retirement for a long time, but especially in the last 4 years. I'll be 52 in May and always had an ealiest retirement date of 53 years old based on my numbers. So I'm getting very close to pulling the trigger. In the back of my mind age 53 was always the earliest I'd finish but I was…
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