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Stakeholder Pension
Would like a bit of advice from the resident experts. Is it still the right thing to be saving into a pension and if so is the stakeholder the right one to have? I'm 32 years old and a 40% tax payer. I currently save £487 each month into a scottish widows stakeholder with an AMC of 0.8%. I've built up savings of £34k…
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On-line IFA's and multiple pension pots
Hello All, Have posted here before on Annuity issues, but now that my end of May (2012) normal retirement date looms, I have a few further issues to air please. I have three pension pots from which to raise an income from and have previously asked on-line for annuity quotations, but received none as the providers…
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Transferring a pension scheme
Hi All, I recently changed jobs and have received a letter from my pension scheme stating that I need to transfer out of the scheme and should select an alternative pension provider. As I have just started my new role, I am not yet eligible for the pension scheme here. I have little knowledge of pensions, it isn't…
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Pension Buyout
My employer closed their Final Salary scheme a couple of years ago. They replaced this with a Defined Contribution Salary Sacrifice group scheme run by Standard Life. We have now all had a letter indicating that they will be offering us an incentive to move our deferred pension benefits to another "pension arrangement".…
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Paying over employer's matched contributions
I'm currently a member of my employer's DC pension scheme, which is a reasonable one, matching my contributions up to a maximum of 8% of my salary. It's currently invested in the 'growth' fund, which although it took a bit of a hit about half way through last year, has been slowly growing the last few months. I've been…
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SIPP comparison
I have had a look at a few low cost SIPP providers to try and compare them. I will list them here, I would appreciate people pointing out things i've missed and general thoughts. I didnt put down trading costs as all were £10-15 in general 1. Fidelity https://www.fidelity.co.uk/investor/...?smid=goxyv09k Set up Free Annual…
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Hargreaves Lansdowns £500 cashback for a transfer - 24hrs only
HL are offering [STRIKE]£500[/STRIKE] UP TO £500 cashback if you transfer a pension of £5k or more by 13th March BUT the forms are only available to download until 12 noon tomorrow (Saturday 3rd March)…
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Is a SIPP for me......?
AS HL customers will know,they are very good at sending out information and marketing stuff most of which is quite interesting. I keep reviewing the possibilities of SIPPs and I'm not sure if its worth my while. OK the Government gives tax relief but then you can only have a max of 25 % as a lump sum and then buy an…
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Company Pension and SIPP
Hi, I have seen all the websites advertising "cash for my pension ". and I need to raise some capital .After a filling in a few details on a website I was contacted by I P Services and I gave them these details.My company pension value is £19,061 and a dormant pension at £4,000.They said they need the Transfer value which…
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Is it as complicated as i think?
My OH is 58 yrs old and is taking voluntary redundancy in November 2012. He doesn't intend to look for another job. At that time he will also be able to draw his final salary occupational pension. There are obviously lots of financial decisions to be made and different scenarios to consider, but I / We am a bit lost as…
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SIPP - Why not go into draw down?
I apologise if this seems a naive question but I have agreed to ask it for a friend. Person is 60s, still working in a well paid job, no debts, has spouse and no dependant children. Has SIPP and another company pension where payment are currently being paid from work. Why should he NOT go into drawdown with the SIPP, take…
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Fixed Term Annuity implications?
I will be 65 later this year and intend to draw my state pension. My wife currently draws her state pension and our joint income would be low enough to receive pension credit as a top up. I have a small private pension that I am thinking of buying a 3 year fixed term annuity with but I am unclear on the following: Can the…
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Pension Contribution Error
Hi I wonder if someone could help me, please? About a year ago, I noticed an error on my pension plan statement - in simple terms the monthly contribution did not match the amount coming out of my salary each month, and what my company where paying to the pension company on my behalf. Long story short, we are on the cusp…
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How do i claim the tax relief on my pension
Hi I have been a director of a limited company for many years and used an accountant to complete my tax assesments each year,the company has recently been sold and i will not be a director so i will not need to fill in a tax assesment ,will i ?,the accountant has notified the HMRC about my pension contributions,i was…
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State pension overpayment at death
My aunt died on Sunday 18th December 2011. Her pension was paid weekly on a Monday. I notified the DWP of her death by phone on Monday 19th December 2011. I had expected to have to repay 1 weeks pension (approximately £140) however I have received a letter telling me that £427 is repayable. Can this be correct?
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Age 38, very little retirement savings, but want to retire early
My husband and I have been in significant debt until recently, so we have very little in the way of retirement provision. This is our biggest financial regret and a tough lesson learnt. Now that we're debt free, our goal is to save hard for our retirement and also pay off the mortgage. This might be laughably optimistic,…
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Is having a public health sector pension enough for retirement planning?
Hi all, I'm 27 and have paid in to a public sector pension since the age of 22. I believe my contribution is 6% of salary which the employer then matches. General rule often expressed online seems to be to save 10% of income in order to have a half decent retirement. I know that 10% is seen by some as an arbitrary figure…
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LGPS Transfer Out?
Hi there, I'm in an LGPS as part of my current job, but my contract ends before I reach the 2 year minimum period for being able to take it as a pension when I retire. So if my contract isn't extended, I'll have about £6000-£7000 of transfer value I can move somewhere else. Should I transfer it to my next company pension,…
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Releasing a Pension Lump Sum
Can anyone tell me if we can draw a lump sum from from my partners pension Basic details are He is aged 60 with a nominated retirement age of 65 The pension is made up of protected and non protected rights I appreciate this would give a reduced future pension but the lump sum is of more use now Thanks
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Legislation that allows someone to sell/surrender pension to prevent bankruptcy
i'm sure the answer is a solid no, but I just need to hear it from a reliable source (!) If a client is in dire straits with his/her finances and their only cash holding is in a pension (already in drawdown in this case) can anything other than 25% Tax Free Cash or Max GAD be sold/surreneded to prevent bankruptcy. I wonder…