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New option added
I was pleasantly surprised yesterday to receive news via the annual newsletter that my old workplace DC pension will offer drawdown as an option upon accessing it from this year onwards. Previously the only options were to buy an annuity, or take it all as a cash lump sum, otherwise transferring it out to a different…
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Advice On What To Do With 5 Small Work Pensions.
Hello Guys. I have had a chat with Pension Wise in the past, it was ok but they advised that i speak to a financial adviser regarding what to do with my 5 work pensions. Im 56 and i retire in 11 years, im not working due to multiple health problems. I get PIP and UC. I have always grudged paying into a pension, thats why…
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Pension Shortfall
Hello, Last year i took receipt of my DB pension all looked okay until the end of the year when i worked out that over 12 payments there was a significant shortfall in agreed payment. This is estimated to be around £3k. Now you may ask why i did not spot this but i have had a horrible 12 months due to death in family and…
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SIPP contributions by HR pensioner
Having a bit of a debate whether a higher rate tax payer now aged 70, only income from pensions and savings, would still benefit from paying £2,880 into their SIPP. The SIPP is currently fully invested and is not expected to be drawn on in the next 7-10 years. The investor is in great health but has quite a low risk…
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Aviva pension policy disappeared from MyAviva
Hi, Posting here out of desperation as Aviva are unable to correct an admitted 'error'. I have a pension with Aviva which was originally with Friends Provident that Aviva took over 10 years ago. It has a different policy number than the standard AVxxxxxxx format. There must be many many thousands of people with similar…
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Bridge to state pension - ringfence funds in lower risk or just draw from overall pot?
Not sure there is necessarily a ‘right’ way but would like feedback. target is to retire in 3 years time. I’ll be 58 and a bit, wife will just have turned 59. 8 years for her state pension to kick in, about 8.5 years for mine. Have a DB pension that should pay £15.5k from april 2029. Income needs - 40k net initially,…
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United Communications Group Pension
Hi, my husband has an old pension that he hasn’t paid into for years but it has grown into a decent amount. He asked to take it out as a lump sum but was told he wasn’t able to because he had already exceeded his his lump sum allowance! So he can get a small annual pension only. Is this correct? He is still working so this…
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Thoughts on Delaying Claiming Civil Service Classic Pension
Hello, first post here, as I noticed some great advice on Civil Service pensions in the forum. I would be grateful for any thoughts or experience on my current dilemma as to when to claim my preserved civil service classic pension. Here's the situation: I turned 60 this year, so am eligible to claim my preserved Classic…
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Fidelity SIPP Personal Statement Issued to Employer - Data Breach?
I have a SIPP with Fidelity, into which I have a regular payment set up for my salary sacrifice from my employer. I discovered today, after finding a stack of documents on my desk, that Fidelity have sent my quarterly statement to my employer. This lists all of my investments and how they have performed in the last…
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Over 75 move to flexible drawdown.
I have a pension pot with Standard Life of about £80K. I've just turned 75 so it seems sensible to crystallise at this point to protect my TFLS (tax free status would be lost if I die before my husband). We don't need additional pension at the moment, and we have other assets, but when one of us dies the other will need to…
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HMRC higher rate relief online form - confused by 'total net contributions'
I'm completing the HMRC online form to claim higher rate relief against pension contributions. I'm not clear what the form wants when it asks for 'total net contributions'. If, for example, I have added £12k contributions to a SIPP, had £3k automatic basic rate relief and am claiming £3k higher rate relief, is the 'total…
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Freetrade SIPP - Payment of tax relief
I've just topped up my Freetrade SIPP and would like to know when I can expect the tax relief to hit my account. Does anyone have any experience to share? From memory I think with HL, for example, you can work out the payment date (something along the lines of contribution up until 6th of the month then tax relief is paid…
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Self Assessment / pension / tax calculating
Hi, I've searched for something like this for a few days now but nothing quite fits. Basically as you can't use the Gov.UK website to run a simulation of a self employed return prior to the end of the current tax year what I'm looking for is some kind of simulator or calculator that allows you to input profits, interest…
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Transferring part of a SIPP
I have an ii SIPP and a 212 stocks and shares ISA. I much prefer the 212 platform and the lower fees. I would like to leave my stocks/holdings in the ii SIPP and transfer the cash to a 212 SIPP. Is that allowed? I do not want to go into drawdown.
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SIPP tax deadline day 25-26
I am thinking of starting a SIPP this tax year 25-26 to take the advantage of the tax break of investing a lump sum as I am no longer working paying 20% tax on my two company pensions, on ii website it states has to be done by Sunday 5th April but also seen online that for tax purposes it’s has to be done today Thursday…
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LGPS & State Pension Age
I and 43m and joined LGPS in 2017 on the CARE scheme - which I understand is tied to the State Pension Age. For me, this is currently aged 68. (with the increase from 67→68 scheduled for sometime 2044-46) The current implementation of the SPA rise to 67 got me thinking about the risks around this for planning for…
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USS log on
Can I ask those who have a USS pension, are you having problems logging on to the site? I have tried over the last couple of days and keep receiving the following message: Sorry, something went wrong... We seem to be experiencing a few technical issues in My USS. Please try again, or maybe come back later.
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Pension consultation
Hi, we have been informed at work that there is going to be a change in our pensions and that this will be changed to a net pension scheme, and asking if we want to opt out of this. At the present time our contributions go in from our gross pay. This is due to the national minimum wage increasing and breaches that may…
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Overpayment into a private pension
Hi,having read a few articles on overpayment into a sipp and back dating for last 3 years. What is the actual benefit being as you get taxed on drawing it eventually from the pension after the initial 25% non taxable amount. My situation is a pay a nhs pension thats deducted at source,with other investments for the first…
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Earliest retirement date change in April 2028, am I affected?
Hi there, Apologies for the lengthy first post. Hopefully someone can offer advice if they've perhaps asked the same question and had a more informative answers than my local government pension service was able to give me. Basically, I have been in my LGPS since around 1993. Earliest Stated pension age to take benefits…
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Most recent: MSE NEWS: At or near State Pension age? Check NOW if you’re due missing Child Benefit credits by MSE_Isabelle
17 April at 12:12PM
