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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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Early-retirement wannabe
I would like to create a topic (don't see it at the moment - other than the NUMBER thread). Who is aiming for early retirement (or who has retired early already)? When did you begin planning and what drove the decision? What is the strategy for getting there? How much of a relative decline in income are you prepared to…
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Pension forecast worries
I read with a little concern that the HMRC on-line tool for forecasting state pension may not be correct for those who contracted out of SERPS in the past. I am pretty certain I did contract out around 1998, but I have no real idea for how long or exactly when this started or indeed stopped. I have no payslips from then…
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£2880 - Can I pay in twice at 74- different tax years
My wife has just turned 74 - We have just paid in this tax year - and want to pay the final year after April 2026. I assume its tax years that count but we would be paying in twice at 74
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For a married couple with no children;
If one spouse dies and provided no use of their tax free allowance has been used, does the allowance then pass to the living partner totalling £65k for disposal on their death according to their will?
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took advice on here and spoke to a Financial Advisor
posted a couple of times before and now had an initial meeting with an FA to discuss my pension - summary below and would appreciate comments, thoughts etc. I had a teams call with a company in Glasgow to offer some pension advice initially Very nice guys who for this first call, concentrated on my current pension compared…
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Royal London Governed Portfolio
Governed Portfolio Growth (B) vs GRIP 5 (A) - I would be very interested to hear your thoughts regarding the choice between having your pension funds in one or the other. they appear to be very similar? Why have these x2 very close variants?
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Please evaluate my investent/early retirement plans
I have just sold my house and have £190k equity, plus savings of £20,000. I'm 60 and can access a couple of small pensions which will give me tax free lump sums of just over £50,000 and a yearly income of £6,000 from now (DB pensions). I'm currently not working but expect to take on some freelance/part time work soon. I…
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preparing for a Fixed Term Annuity
Hi all , You've all helped me over the passed few years more than you can imagine , so thanks for that in advance! I'm now preparing myself for the final run in, to buy a fixed term annuity at the end of the year. I have 3 pots with SW , some crystalised , some not crystalised both in same retirement account and a works…
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Process for taking partial TFLS in ii
I'm wanting to take about 10% out tax free , my understanding is I can do this by part crystallising a larger amount and the remaining crystallised amount moves to a drawdown area but can stay invested. My question is how is this actioned regarding selling units , do I need to sell an amount to cover the TFLS required AND…
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ReAssure (General Portfolio)
Just after a bit of guidance while I'm waiting for a pension wise appointment!! I started a pension with General Portfolio in the late 1980's, about the time of the big "opt out of SERPS" campaign. The rep promised £5000 a year at retirement for £40/mth, with yearly increases to the contributions so that I'm now paying…
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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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Old style with profits pension - should i move it?
Hello, i have an old style company with profits pension thats not accessible online. I have the chance to move it into a new scheme (at no cost) with similar risk but supposedly better returns & lower charges but don't know if its a good idea. I'm about 5 years from needing to access it. I have a reasonable amount saved in…
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Transferring to a SIPP - fund in one go or several chunks?
I've opened a SIPP and will be transferring in a personal pension. It will have to be a cash rather than an in-specie transfer. It's unclear exactly how long I will be out of the market, but a couple of weeks looks like a fair estimate. I thought doing this as say 4x separate chunks would help smooth out any market dips or…
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Struggling with additional pension contribution options
Hi all, I'm looking at additional pension contribution options for my partner, and I'm struggling with it. Some thoughts would be really helpful, particularly from those that have been here. I posted last year about standard or higher lump sum options when my partner, an NHS nurse now age 62, was thinking about partial…
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Pension Transfer. Time Out of Market.
Imagine you are transferring one SIPP to another. Clearly the whole process could take quite a varied amount of time. Especially at the moment! But what about the actual gap where you are not in the market? The old SIPP provider sells your funds and turns them into cash. This is then transferred to the new provider and…
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Transferring Royal London plan to II SIPP
I have a Royal London plan through a past employer that's sat with RL since I left. I've confirmed as best I can this is actually just a RL personal pension but via a group discount so around 0.35% all-in. Main thing is it doesn't have a protected access age and it doesn't have any safeguarded benefits. I can't think of…
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Unsure if this is good or not
Im 56 years old with a very small DB pension which I paid into for only 18 months. My Main pension which Im not touching till I am of retirement age is separate. I earn approx £15k a year in interest and no other income due to early retirement (self funded no pensions taken) My Small DB pension has given me the following…
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Pension drawdown
I would be very grateful if someone could help. I am about to begin taking money from my Bestinvest SIPP (first ever drawdown). I wanted to take a UFPLS of £16760 in order to make best use of my tax free allowance so that the full amount would be tax free (I will have no other income this tax year). Bestinvest informs me…
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Financial Advisor Planning to Move to New SIPP Platform?
My wife had her annual SIPP review meeting with her financial advisor. The company are considering moving her SIPP from AJ Bell to Soderberg. They claim that Soderberg has outperformed AJ Bell, but he also disclosed that Soderberg have made a small investment in their company. We have not heard of Soderberg, is moving…
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45,000 open pension / pay off mortgage / or money in cash ISA?
I'm self-employed (since 2012), 56 years old and have £31,000 left on my mortgage (approx £671/month until May 2030). I've been paying £200/month into a savings account since I went freelance and realise I'm probably missing out on tax breaks and better interest by doing so. I've accumulated £45,000 (I started off with…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
734 discussions
6.4K comments
Most recent: Paid gaps in N.I a year ago, still not updated. by Bighitter32
6 February at 11:02PM
