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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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On track to retire at 50? Pension diary
Hello all, After moving into our new family home and having our first child soon, I have spent some time looking at pensions to ensure they are on track. I spend a lot of time supporting charities and would really love having the option to retire at 50 to focus more of my time supporting them. I would estimate that with my…
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Consolidating existing pensions and taking drawdown
I have unit linked pensions with Standard Life and Clerical Medical. Those are the main ones, although I have a couple of others. I'm getting on a bit and I would like some income. I'd also like to draw the 25% tax free lump sum. I need this in the next 6 weeks. I was thinking of setting up a SIPP. If I cash in the…
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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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Increase pension contributions and live off salary and savings.
Reading a comment on another thread just got me thinking. I am a 40% taxpayer this year and, all being well, will be a 40% taxpayer until I retire in 3-5 (hopefully not more) years. For 2026-27 and 2028-29, it looks like I can contribute 24% of my salary via salary sacrifice to remain in the 20% tax bracket, when factoring…
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Tax relief
Hello, I currently earn a basic £47,318 per year. This year ive earned £56,788 with my bonus and overtime. Ive put into my DC Pension £7422 this tax year and £1,910 into my DB Pension. How much tax could I get back if I did a self assessment. TIA
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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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pension contributions refund advice
Just looking for some advice , nhs pension contributions, i have paid the wrong amount and my contributions have been adjusted to 10.5 not 12 percent , the refund of these contributions will they form my taxable pay for that month ? thanks in advance
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Pension lump sum contribution
Hi member of SMART salary sacrifice scheme with my current employer with salary of around 28k and on call allowance of 5k. I wish to make max lump sum contribution to my old employee scheme . What is the max I can put into this and take advantage of tax relief contribution? , do I need to allow for my salary sacrifice…
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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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Advice on moving pension fund now due to unplanned retirement
Hello I was hoping I could get some advice on what the best approach would be to my current situation, which is as follows… I’m 54 and will turn 55 later this year, I hadn’t planned on retiring any time soon but some health issues have made me have to consider retiring in the next year or two. I have a defined contribution…
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SIPP choice - do I need to worry about the details?
Looking to open a SIPP for an initially small pot (< £20k). I've been looking at and trying to understand the details of charges, but I'm not sure I need to; it seems to me the thing to do is commit to something and go from there: - I'm not sure I'll have a good view of exact trades and charges without actually doing it. -…
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Immediate Needs Annuity
It looks like someone I have LPAs for is going to need a lot more personal care soon. Two quick questions. They have a Prudential Bond, could this be used towards an Immediate Needs Annuity? Can the payee of an immediate needs annuity be changed, so if we get one for homecare and they have to go into a home could it be…
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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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ROYAL MAIL PENSION QUOTE AT 55 DONT UNDERSTAND
Hi i had my pension quote from royal mail im in section C - my understanding is that theses are the figures if i decide to take my pension at 55 My RMPP pension shows the following Option 1 regular income £1503 pa tax free cash none tax free cash from cash balance none leftover benefits from cash balance none Option 1A…
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Missing NHS pension.from the year 2000.
I was a nurse at a london hospital. I worked there for two years and I joined the NHS superannuation scheme in 1999 ish. Fast forward to today and I am trying to locate my NHS pension. I contacted the NHS pension tracking system in Newcastle and they said, they have NO RECORD of me being in the scheme, even though I showed…
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Pension transaction negative adjustment
Can anyone explain what an adjustment transaction on my pension fund is, i noticed that my fund had dropped around 25% last week and when i looked at the pension scheme there was a transaction listed as an adjustment and my fund dropped around 25%. I have been in the process of getting a final settlement for my pension and…
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USS - General discussion
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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A good time to do nothing?
We are a couple, about 5 years into retirement, anticipating another 30 years. I was planning to move a circa £200k private pension plan from an old Aviva with profits to II to facilitate drawdown, and take the tax free 25% to fund extensive work on the house. The rest of this pot is intended to fund lumps of discretionary…
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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…
Got questions about boosting your state pension by checking your record with the Future Pension Centre and making voluntary National Insurance contributions?
739 discussions
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Most recent: reduced pension payments by Silvertabby
20 March at 1:54PM
