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Pension provider asking for will
A friend's partner of 27 years passed away recently. He had nominated her to receive his pension at his death, she has a copy of the paper with her name on it. He began taking the pension about 10 years ago. She has received letters asking for copies of the will. She fears that charities and his grandchildren, the…
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To Transfer or Not?
Morning, I was looking to transfer my RAF and Part Surrey County Council pension over to my Civil service pension. The RAF/SCC is valued at £77000 at 10 years 292 days. The Civil service has rated it at 7 years and X days still at £77000. I if I transferred it over, I could retire at 65 years with 36 years pension, 40…
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SIPP and commercial property
Say I want to buy a commercial building with my SIPP but it doesn't have enough money in it. What can I do ? e.g. SIPP fund £100k Building £400k Maximum mortgage amount (100% of SIPP balance) £100k So we are £200k short. Can I pay the other £200k to purchase the building and have the SIPP buy back £50k a year over the next…
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Where, oh where, do I put my pension...
I've recently taken redundancy. Last year I took out a company pension. As I was only with the firm for 12 months, I cannot leave the money in their scheme. So I need to find another scheme that will take a transfer, but not expect regular payments (I'd rather put money in an ISA). I can only transfer this sum, however,…
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AFPS Pension Credit Members
For people who received a share of an AFPS pension on divorce: have you been affected by this error http://www.actuariesforlawyers.com/live/showscreen.php?site_id=87&screentype=site&screenid=87&newsaction=showitem&newsid=583&directcontent=%7bnews%7d&sn=News http://www.ancillaryactuary.co.uk/ "Sour Note for Military [ex]…
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Final salary pension v SIPP
Hi everyone, my first post. I am confused as to what to do with my pension. I left the company 3 years ago and have requested a transfer value as I am considering putting it into MY SIPP for investment. I paid into the plan for approx 20 years and therefore it is quite a healthy plan with a substantial transfer value…
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Commencement lump sum questions
I have a SIPP invested in our own company premises. There is very little cash in the SIPP, so pending a possible sale at some future date there is little scope for taking a 25% lump sum. However I have another smaller SIPP invested conventionally. 1) Can I combine the two SIPPs and then take 25% of the total, eg the entire…
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Financial advisor - now charging, is this right?
With the job I have just left they introduced me to a financial advisor who arranged my private pension, life cover etc - he was an independent professional but no-one from the company paid for his advice, the only thing we were told we would have to pay for was broker fees if we needed a mortgage. Roll on six years and I…
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Pension Fund Re-Balance
Hi All, I have just had a review with my IFA and re-balanced my Pension. I have agreed my attitude to risk has now increased and I have askedto be moved to more adventurous exposure. I am 31, current fund value is 33k and £500pm in total isbeing placed into my pension between myself and my employer. The charges are paid by…
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advice needed on transferring property ownership to daughter
Hello, I live in a fairly large house on the coast, my wife and I were looking forward to a peaceful retirement, but I suffered a stroke that has caused a complete! change to our plans, I had to stop work before I had completed payments to my mortgage , I am now not able to find! any job. I still have!3 years mortgage left…
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Teachers' pension - should I opt out?
I am a new teacher on a graduate scheme, and I'm wondering if I ought to opt out. I don't plan on staying in the profession for a long time (though this may change) so I thought I may as well opt out and cash in. Is this worth it?
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Best way out of personal pension?
I decided to take out a private pension earlier this year as I hadn't paid into one for several years and my employer isn't required to have one for a few more years yet (v.small business). I wanted to pay in a lump sum before the end of the last tax year (higher rate taxpayer) and possibly, but by no means definitely the…
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Pensions and Contracted Out Advice Please
Hi all. Good afternoon. I'm confused. I have 4 pensions; the first is final salary and the other 3 are all money purchase. I have just given up employed employment and work for myself under my own ltd company paying NI and tax through PAYE. I queried my NI category with my last employer as it was an A. I thought that being…
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career average pension
The company i work for offer a career average pension which i am a member of. The scheme is 1/60th but you can increase this to 1/50 or 1/45. However when you increase the extra years they would only be uprated by a max 2.5% per year. So with inflation being more than that is still worth doing?
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Pension Advice For Dummies
I'm sure this was all explained to me when I started my pension plan many years ago but I'm afraid my eyes glazed over and I went to my happy place. I promise I'm listening now. The plan is an executive scheme with Zurich. I've not increased my contributions in line with inflation but, optimistically, the fund will be…
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annuity
I have just over a year to go to my normal retirement age. I am now unemployed and therefore not paying into my private pension fund. Should I take my pension now? Would leaving it for one more year make any difference? Could the fund shrink in that time?
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work pension
Hi, I've enquired about a work pension from Diageo (formerly Johnnie Walker & Sons) where I was employed on leaving school at 15 until I left on the birth of my first child when I was 23, this was their reply: [FONT="]Having checked our computer database and archives, no trace of your details could be found. [/FONT]…
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Moving Jobs - Pension Disclosure
I am in the process of moving company and I have received an offer and an accompanying letter detailing the terms and conditions. The company has failed to disclose their pension contribution or the bonus, citing that this information will be shared upon joining the company. They have verbally shared this information but I…
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Newbie to pensions
I need some advice if you wouldn't mind :) I'm 29 (30 next month) and don't have a pension currently. We're currently debt-busting and so don't have a huge amount of money to put aside right now. My employer is setting up their own stakeholder pension scheme and gave me some information about it but I don't know anything…
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A beginner to pensions
Is there any resource either on this website or somewhere else that explains pensions from the ground up assuming zero/little knowledge? I'm surprised such an article does not exist on MSE already. I'm relatively young (21) and pensions seem completely alien to me. My company has a pension scheme that I can pay into. But…