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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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Any reason not to aim to empty SIPP ASAP in retirement?
Looking ahead to when I retire (within the next year or so), and setting the strategy. The situation is fairly simple: retire at 60 years old ~£700k in a SIPP Cash ISAs as cash buffer no need for a large lump sum at retirement It seems to me that the SIPP needs to be emptied as fast as possible (25% tax free, rest kept…
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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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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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Pension Basics
Hello, I am one of those people that has paid little attention to their pension other than checking in a couple of times a year and having moved jobs a few times been careful to consolidate to tidy things up. My present situation is as follows: 52 year old male with 5 years served at current employer. I have a group…
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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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Lump sum from DB Pension fund
Afternoon all, Am trying to give some general guidance to a family member who should be in receipt of a DB pension (and tax free lump sum in excess of £30k), in about 18 months time. Planning to look at their complete financial situation (cash, stocks and shares, all pensions) to see if it looks realistic to fully retire…
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Can you use pay in lieu of notice to make a personal pension contribution
Hi, I have been made redundant from 30th April 2026 because the company is closing. In additional to a redundancy payment, I will receive around £11,000 gross which is made up of my usual salary for the month, pay in lieu of notice and holiday pay. I will not be doing any further work from this date so this will be my…
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Profile Pensions annual fee?
Morning, everyone 🙂 I'd like to ask kindly anyone of Profile Pensions users, as I consider starting my private pension with them and still trying to find answers for whatever puzzles me.. Their annual fee is 0,82-0,86% with all the aspects included (ongoing investment advice as well) - but WHEN during a year do they…
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Pension draw down strategy over 6-7 years whilst still working
Hi, we want to take out circa £230k from our pension pot by 2032 as efficiently as possible. So we're focused on making the most of the 25% tax free bit and also being as sensible as possible with navigating the 60% trap (since I'm working still and earning circa £85k). I'd like to leave using the 25% as late as possible…
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Searching for critical mass
I wanted to send this out as a pulse check to see if we are on the right track, generally, and if there is maybe other things we should consider. Married, 2 kids, just turned 40. My partner and I have £390,000 invested across ISAs & pension. Combined we are putting away around £2500 a month into these, and mainly into…
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Unauthorised Digital Signature
Have spent over a year attempting to get justice due to Pension Advisor using requested digital signature for access to my Pension accounts only to sign Client Agreement, open SIPP Pension and start transfer of 6 Pension accounts without my knowledge or permission. Complained to company and to Ombudsman who backed up the…
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Can an IFA withdraw their service to me
I am retired and have my workplace pension invested with a well established national pension fund. My IFA is retiring soon and has merged his business with a larger firm to provide continuity to his clients. It now turns out this firm has its own pension wrapper product, which it is keen for its new clients to transfer to.…
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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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Alpha EPA under Capita
As we all know, there are bigger fish to fry at Capita HQ right now... But I'm just noting that I don't have my annual renewal letter for EPA. The EPA page, here, still states: The cost of buying an EPA is fixed each scheme year, but will change from year to year. We will automatically renew your EPA and write to you in…
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Pension sharing annex - no solicitor
I started proceedings for a divorce in 2021. I have been awarded 33.3% of my ex husbands pension. I don't have a pension as I was a SAHM. No other assets. I've been asked to send the Pension sharing annex by my exes pension company so they can release the funds. I have looked at the form and I don't understand some of the…
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Pension credit,
Hi, I am looking for someone to explain to me (as I understand it), the pension credit scheme. I have recently retired and worked for fifty years paying all necessary N.I. contributions to obtain the full state pension. What I cannot understand is why someone who has not contributed to the full qualifying period and then…
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MP Estate Planning & Asset Preservation Trusts - Buyer Beware!
Searching through the forums there is an older thread which covered this firm, which you can find below. The thread has been closed, but I came across information related to this, so thought I'd post it in case anyone else does a search about this company. The article is by well known tax lawyer, Dan Neidle, and is posted…
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How to apply GAD reduction factors to CS Alpha
I am trying to calculate how much Alpha added pension will be reduced if £6600 was paid from salary during 2026-27, giving £453 if taken at NRA of 67, but then the added pension was taken at early retirement aged 56. Would I get zero in April 2027, then in April 2028 a reduced figure from £453 plus CPI? What would the…
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IFA vs DIY
I'd be interested to learn what are folks' views on DIY pension management vs. handing over to an IFA or similar? My immediate concerns would be handing over my life savings to a relative unknown and them scarpering off with the money, their ability to manage the risk, pick funds/bonds etc, fees, etc. On the other hand, it…
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TPS vs LGPS
Hi everyone are there any pension geeks out there who know the ins and outs of the Teachers Pension Scheme vs the Local Government Pension Scheme? I work at Sheffield Hallam University and the management are proposing moving most of us academic staff out of the TPS and into the LGPS. Are we going to better or worse off in…
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