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New Zealand raids residents' UK pension capital?
IRD found that 70 per cent of a sample of 869 people who had transferred their pension here had evaded tax -- Hundreds of thousands of Kiwis are up for a tax king hit. And many of them have no idea it's coming. Readers with overseas superannuation and pensions in countries other than Australia could be hit with tax at…
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Pension Recycling
Having read another thread which gave links to recycling of pensions I was wondering if any expert out there had an opinion on my position. I have a Civil Service pension along with AVC's and a SIPP. A couple of years ago I realised that I was within striking distance of attaining a £20k pa CS pension so have started…
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State Pension when someone passes away
Good afternoon Sadly, my father-in-law is terminally ill and I am trying to help my mother-in-law ensure that her finances are in check so that she has one less thing to contend with. I am currently looking at income and expenditure. Both my mother-in-law and father-in-law receive a state pension. I have looked at the…
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Tell your story and help others who are buying an annuity
Hi folks, A government organisation is asking for our help to find people happy to share their stories about buying an annuity. The hope is the stories will help inspire others who are looking at what annuity to get. If you fit one of these criterion and would be happy to help please email your story to…
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Endowment mortgage as a bridge to pension?
I am 51 and facing redundancy. Payoff can be stretched to 53. At 55 I am in for a reasonable pension including large cash sum. I am thinking that if I can take an endowment mortgage NOW while still employed and then just stash it away,I can use it from 53to 55 when my redundancy runs out then pay it off with my pension…
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Salary Sacrifice or not?
Hi there. Wondering if anyone can help, I'm sure this question has been asked before but I've read quite a few old threads and not really made it any clearer. I'm starting a new job and have had all the employer pension details through. I need to decide if I pay into my pension by salary sacrifice, or by deduction from net…
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Quick advice or link please..
Hi, I'm new here :-) I started a FSAVC in 1996, which I paid into for about 5 years before I realised it wasn't as good a deal as I'd been led to believe..certainly not as good as my NHS one! I have a feeling there is a way I can ask for it to be investigated as mis-selling and possibly be entitled to some compensation -…
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Higher rate tax relief pension query
Hello, I have been paying around £550 each month into a personal pension for 4-5 years, so around £6600 each year. I have been getting basic tax relief added, so an extra £1600 has gone into the pension fund each year. My salary has been over 40K every year for the past 4-5 years. As I understand it, I have been a higher…
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Pension decisions to make
Hi, I wonder if anyone can shed some light on Pension charges. I am 52 years of age and starting to shine a light on our pension arrangements so that I can make sure we are prepared for the big day in 8 to 13 years. I have a stakeholder pension and sipp with Friends life and my wife has a stakeholder pension (all…
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Scottish Widows Pension Portfolio Two charges
I am being advised to transfer my current SW stakeholder to the Retirement Account, and to allocate funds into SW Portfolio Two with low annual management charge of 0.10 %. Sounds great (although past performance needs to be reviewed). However, when looking at where the investment is used it is allocated into other SW…
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Date of April Pension Increase?
Has anyone spotted the effective date of the April 2014 Pension increase for Local Government and other public service pensioners. I gather it is due to be 2.7% but it never seems to be paid from the 1st April, always a few days down the line ... e.g. last year's 2.2% was paid from 8th April. I've googled but cannot find…
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IFA Fee
Hi All, I have Pension Fund of approx. 67K after taking Lump Sum.Ive been quoted fee of 2% by IFA, for arranging enhanced annuity.Is this a reasonable fee?. Current provider,Aviva,is offering £3920PA.This is based on joint life,50%,10yr guarantee,level annuity.I make this an annuity rate of approx. 5.9%.Could this be…
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Is a 'tax-free' lump sum classed as taxable income?
I recently passed the age of 65, and decided to carry on working for a few years more. My pension scheme allowed me to take my pension as well, and I took a 'tax-free' lump sum. HMRC have now added that lump-sum to my annual taxable income for this tax year, with the result that the total is over the limit for receiving…
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Opting out of SERPS
Hi, New to this forum. Around 20+ years ago I was convinced by a financial advisor to not take up the company pension with the company I worked for at the time. He convinced me to opt out of SERPS and take out a personal pension with CIS . I did not pay into this policy for very long - maybe a couple of years. It is worth…
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Best SIPP for passive investor?
Edited this twice already to refine the question, sorry. I appreciate that as a result of RDR, many SIPP providers are moving from charging a flat fee to charging a percentage fee. Currently I hold just one fund within my Hargreaves Lansdown SIPP, this is Vanguard Lifestrategy 100% equity accumulation. HL are changing…
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Second State Pension - more than one employment
I have a query about the second state pension. I have 3 jobs. Does the government add up my salaries from each of these and then apply the calculation using my total annual salary, or do they do some calculations based on each one separately? In one of my jobs I don't earn enough to qualify for the second state pension,…
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Starting a pension and confused?
Hello, I am a bit late to the game but want to start paying into a pension, however, I'm shortly going on maternity leave and may not be returning. All the information I am reading on pensions concerns pre-taxed payments via payroll, which of course, if I don't return to work is not an option, and we will be paying in…
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Pension, work / state?
I am 35 and still haven't managed to start a pension due to lack of spare wages. I have also been trying to save to get on the property ladder, which i am almost there now. My question is, If i start a work pension do i still get a state pension when i retire? if i do then is the state pension less because i will have a…
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can't transfer without a financial advisor
Hi all, Wish this board had a sticky for asking quick questions I'm looking to transfer some money from a SIPP to a personal pension, its not a lot of money £7,500 in vanguard LS ... i know it isn't the best place to keep it but i quite liked the idea of having vanguard in a pension wrapper, as its for the long term etc.…
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Maximum Occupational Scheme Benefits
I am an active member of a final salary pension scheme with my employer. I was thinking of taking out a SIPP to "top up" my pension, reduce my income tax bill and possibly facilitate early retirement. My understanding is that the maximum pension you can receive from an occupational pension is 2/3 of the final salary. I…