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Teacher Pension entitlement for spouse on death - mistake?
Wife had a teachers pension retired in 1998 and recently died. I understood I was entitled to 50% of her pension on death - she worked for 18 years and took 4 years out when we had kids. She later topped up her pension for the 4 years she was out - and her pension letter states figure is based on 22 years. I have just had…
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LTA protection
This thread is not about whether a future Government might or might not reintroduce the LTA as that is discussed elsewhere. What I am interested in is opinions on whether some form of LTA protection would likely be introduced IF a future government reintroduced the LTA so that the reintroduction is not punitive on those…
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Quick question...23/24 lgps latest pension projections
May and june... logging into my gmpf portal...to see my latest pension estimates...to see if any chance of partially retiring in 2 years....July last year
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St James' Place
Hi hoping someone can help. We have had a visit from a lovely rep from St James' Place and talked through our pensions. She has gone off with information to see what is best to do with our existing pensions. Bearing in mind my husband has his personal pension which he has been taking for 7 years and he invests £360 a month…
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Frozen tax allowances - draw full standard rate allowance now to avoid HR in future?
For those who given inflation and frozen allowances might in future become higher rate tax payers, does it make sense to draw down to the full standard rate band from day one putting funds above planned expenditure into an ISA? I know normally the advice is that a DC pot is outside of the estate for inheritance but are…
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What does a Retirement Options Pack look like?
What exactly is a Retirement Options Pack?Just had a telephone meting with Legal and General, to discuss buying an annuity. Prior to the meeting, I obtained an up-to-date statement of my current fund value. I thought that would be just the ticket. But they could not proceed with the call because I did not have my…
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Pension Drops.
Hi - I'm a nervous person when it comes to money, probably because I grew up in abject poverty. My accountant recommended I finally open a pension as a good way of getting money from my LTD company for the future. My financial advisor recommended True Potential, the low risk pension category to start with, so i brought…
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ill health retirement
Hi, I may have to retire through ill health. I have a final salary pension that I stopped paying into in 2015. I have been reading that most people that take ill health retirement with final salary pensions can receive their pensions with no reduction for taking it early. My pension provider says if I’m eligible a…
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Personal Pension advice please 🙏🏼
Good morning All I've been pondering over all the excellent advice received recently regarding pension and retirement. Many thanks to all who contributed their time and thoughts, much appreciated! From my own perspective I’d like to take up the advice offered of opening a personal pension in my own name. As I’m currently…
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Best place to get Annuity quotations
I have got some quotations from Money Helper, is there any where else better or are they all the same? Also, any pitfalls to look out for?
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Adviser: Possible Complaint
BACKGROUND I had a few IFA over the years and the last IFA until 2022 when he retired and he assure me that he would arrange on-going advice with a new adviser with no cost to me (He was a one-man band). Great! Met the new guy and all was good until end of January this year when it dawned on me that the adviser is…
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Paying Voluntary NI contributions.
My wife had gaps in her NI record and we have been paying these off. Last year 2021/2022 it cost £800’ish and this year it was £824.20 for 2022/2023. We made the payment 10 days ago and her NI record shows 2022/2023 now paid up/full years NI. She now has 34 years of NI paid and I understand she is now 1 year short of the…
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pension - target age
Hi I have a workplace pension and it's now worth around £400k. I pay the maximum contribution and AVCs in order to get the tax break thing with the employer contribution so quite a lot is being invested each month. I'm 51 and the default Target Retirement Age is usually 65. But in 2020 I changed the TRA to 55 being rather…
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pension transfer taking 12 weeks and counting - is this normal??
And what can I do about it?? Started a transfer of my pension from Virgin Money to Fidelity in December 2023. A smaller pension was transferred from Scottish Widows to Fidelity at the same time and went through in days. Virgin Money requested signed forms (fine, get that they have to be careful) and they received the…
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SIPP and earnings from employment or inheritance
If in any given tax year you receive an inheritance and also earnings, is there any reason why you can't put more of your earnings than usual into the SIPP, and declare them as earnings? Even though the reason you can suddenly afford to do that is because of an inheritance? There is a bit of a delay in receiving my tax…
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GMPE Past Transfers - GMP equalisation claim form
Dated January 9 2024, I received a letter referring to my transferred out benefits on 21 May 2007. 'Mercer' identified an underpayment in relation to the transfer value being undervalued as it did not take account of GMP equalisation. I duly completed the claim form on January 12 2024. The amount is relatively small.…
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New free SIPP platform (until the end of April) - Prosper - anyone else on this?
I noticed this offer here: www.joinprosper.co.uk Applying before the end of April for zero platform fees for life. Seems pretty good? I've opened an account and put £100 in it while I look at it further, but considering moving over a bunch of Vanguard ETFs in my SIPP, that are in a Hargreaves Lansdown account (which I…
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Pension Advice Please
Hi All I'm currently 55 and can access to my local government pension pot which is deferred since I left my previous employer about six years ago. I'm currently employed full-time and have a pension through my employer with a reputable pensions company. My local government pension scheme is worth about £38k lump sum and…
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Non-UK resident + Defined Benefit plan
Just wondering if anyone has been in the same boat as me. I am a non-UK resident outside of the EEA with money of around £100K in a News International Pension Plan. The plan's benefits are intended for the purchase of an annuity, and pension draw-down is not supported. The trustees tell me they are not aware of any UK…
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SIPP company dragging their heels
Is there an independent body to contact when you feel that the current SIPP company is deliberatly taking their time with a cash transfer? My pension was all in cash at the time of the transfer request. No special benefits or guarantees. Just plain cash. I had the telephone call within 5 days so they could make their…