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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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Teacher's Pensions Transitional Protection Payment
Hello, I was just wondering if there was anyone here who has retired from teaching and have received their transitional protection payment. I returned my form nearly 6 months ago and have contacted TP asking if they were still on track to make the payments within the 6 month window they had allowed themselves. I have sent…
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Arbitraging pensions?
I would be interested to know if anyone is trying or thinking about this? I have two pension, pension A is my combined stakeholder from all previous employments. There are no contributions going into it but it's growing about 14% per year. My second pension is my current work pension, my employer puts in 9%, I put in 11%,…
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Old Aegon SIPP workplace pension
I have an old workplace pension from an old employer, it is a SIPP with Aegon 'Retiready'. I stopped paying into it in 2022 when I left the employer. I do check it regularly and it's currently worth just over £6,000. What I'm thinking is would it be better to transfer it to another platform with lower/better fees or just…
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Correct me if I have got this wrong TFLS (again)
I would be grateful for the hive mind to sense check my analysis of my “draw” from my SIPP with HL. I am 70 and never taken any pension benefits. Personal allowance used pretty much by SP. I want to draw out approx £75k from the SIPP. This is less than 25% of the value in the pot and there is enough cash in there. I don't…
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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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UC & Tax implications of cashing in small SIPP
Hope everyone is fine and dandy and getting some much needed sunlight. In a couple of months I'll be 55 and I have a small amount (£1600 approx.) in a SIPP. I am on UC and I get Standard + LCWRA + Housing My pickle stems from what my tax liability on withdrawing the lot. The back of the fag packet calculation for the…
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State Pension vs Income Tax Threshold
I don’t know if has come to the attention
of the DWP or the Treasury, but the increase due to come into force in April
for the State Pension, In some cases (ie pension +protected amount) ,
will result in the yearly Pension becoming more than the income tax
personal allowance. This means that I, for one, will be seeing an…
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42 Year olds diary for last min retirement planning and debt free living
I guess you get to a point in your life where you wonder what will my retirement actually be like? I am at that stage now…. This is going to be a long post!!! My plan for this diary is to update it weekly with what I have done, and keep a running total of side hustle earnings (i want to keep under the 1k limit) and the…
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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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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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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
