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Pension if Lawfully Dismissed
Hi everyone, Just wondered if I'm dismissed lawfully from a local government job what would happen to my pension? Would I be allowed to take back all of my contributions? Thanks
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DB Pension quote....
Today received my 'quote' for putting my deferred DB pension into payment in September, admittedly it is 10yrs before my NRA of 65 but want to pay off my smallish mortgage etc etc. I also have a current DC pension with my current employer currently valued at £220K and contributing 7%/7% but with my mortgage paid looking to…
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SIPP Charges are these ballpark?
Hi Folks, once again looking to pick a few brains here. I'm currently in the process of releasing my SIPP and I receive the SP in 2 months. I'm entering a drawdown as this meets with our current financial goals. My SIPP is with Aegon at present and they are quoting per annum as follows: Investment costs 0.25% Service costs…
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Leave it or move it?
When I was made redundant a few years ago I opened a SIP with HL mainly for the purpose of reclaiming some income tax. Since the initial transfer it hasn't (and won't) receive any more funding and I haven't withdrawn anything. For the last year or so the SIP been pretty static sitting at about 70k with any gains being…
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State Pension forecast updated for 2023/24 NI contributions
I’ve just seen that my 2023/24 NI contributions are now reflected in the HMRC app. So others may be updated now/soon. Nice to see that “You cannot improve your forecast any more” confirmed.
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3 years to retirement and maximising tax thresholds
Hi, I’m currently 55 and my wife is 52 and we both
plan on retiring in 3 years’ time. I'm in a fortunate position that my 2 DC pots are
currently worth £923k. I currently pay about 1.5k a month through salary sacrifice
and the company I work for. We currently have about 200k in ISA's and high
interest saving accounts. My…
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Pension Fund Assessment of Risk
I have a pension following retirement and I am trying to work out if my risk assessment is correct. Would a fund which has a 80/20 split equity/ bonds be considered a moderate risk . I intend to draw an income shortly.
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Just can't decide between Drawdown, lifetime or fixed term annuity!
I just can't decide between Drawdown or a lifetime or fixed term annuity for two of my pension pots combined. I keep going round in circles. I don't want to take financial advice as I feel I should be able to work this out myself. Especially with a little help from my Forum friends! I don't think I would have the…
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Civil Service - Alpha Pension
Hi, anyone have any ideas if the Annual Adjustment of Pension contributions is the same as the Pension Increase? For example for 2023-24 2.32% of pensionable income built up, but that figure also gets adjusted to take into account cost of living. I can find info about the increases for folks taking their pension, but not…
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Amount needed vs Amount wanted for retirement
I've been reading this and other financial forums on and off for years, and I've appreciated what I've learned, but I find I'm sometimes taken aback by the conversations about money needed for retirement. Some of you, maybe many of you, have millions set aside or you're on track to have millions. It makes me wonder, do you…
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Taking money out of SIPP.
I have around 6k in a SIPP which I want to withdraw, my only income is the state pension. How much tax will I have to pay on the 6k?
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Contacting Banks by email without having an account
I've been instructed by a pension finding company to contact a previous employer to see if I made any pension contributions through them. Please could someone tell me how I can contact the Halifax Building Society by email. I'm trying to find out if I contributed to a pension when I worked for the Leeds Permanent Building…
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25% Tax Free Lump Sum or whole amount used in annuity?
Hi all. I have an employer’s
retirement savings plan (not Final Salary just to be clear) and I am 67 so would
like to take the pension. The dilemma I
have is whether to take the TFLS or use the whole amount to buy an annuity. I don’t want income drawdown as pots
can go down as well as up and I'm risk averse. I could take…
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state pension tax
was payed 17/04/2023 369.7 then 01/05/2023 387.5 then same about every 2 weeks till 01/04/2024 totel 9688 + 369.7 so all to gather 10057.74 they should be 5 days more added to this if taken to the 6th of april 138.4 the dwp has told tax office 10076 this is the bit i dont under stand how did they get this the amount for…
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Nearly 3 Years On..
Hi Everyone On this rainy BH I thought I'd give an update on these two threads I started in 2021 and 2022 to show the direction of travel and our decision to PTT (pull the trigger!). Are we on the right track? Advice welcome Thinking of Transferring to Interactive Investor - Page 2 Me: 55. Earn £49,950 plus £4k car…
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Find help for Pension
Hello all Am looking for guidance please. My husband has a small pension with Standard Life, maybe £10,000. He has another pension with just shy of £90,000 with Aegon. He wants to transfer the Standard Life to Aegon. As he has had the Aegon for some years now he needs to choose a fund to replace With Profits fund. The…
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Unemployed Pension Contributions
Can someone advise please? I only had gross salary earnings this tax year from April to 3rd May, having now left the job and I was in a salary sacrifice scheme, so contributed to my workplace pension for that period. On the assumption that I do not have any other employment for the rest of this current tax year, how much…
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Reporting In - 5.5 Years post-FIRE
Hi All, I've been off this forum for a while, good to see all the old regulars still here :) I retired back in October 2018, but ended up staying on one day a week. I thought it might be instructive to relate the impact of that. We had an 11 to 15 year gap before DB (£25k between us) and SP came on line, which would be…
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Pension and Tax Question .
Retired 3 years ago and immediately claimed my private pension and oap . I started paying income tax straight away . My wife retired at 63 three years ago and claimed her private pension which was just over the tax allowance of 12.5k [ 13 k ] and so paid a little bit of tax . On april 29th this year she made 66 and so her…
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Finding lost pensions
I've been trying to do this for my partner but this service seems fundamentally flawed. You need to know the name of the provider for a personal pension - if we knew that why would we need the service? My partner cannot remember the provider name so how does he trace it?