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NEST Growth
I'm setting up a spreadsheet to hopefully accurately predict what my pension pot could be in 30 years time, and was wondering what growth I could expect from my NEST pension, net of any fees. My pot is currently invested in the NEST Higher Risk fund. I have the fund factsheet from 2013, but mentions nothing about…
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Auto enrollment pension vs Overpayment on Mortgage
Hi, Just a quick one if someone could help me with some questions I have a 150k mortgage outstanding which I pay ~£800 on a month and I am 37 currently with 23 years left on the mortgage. 1. If I choose to opt out of the auto enrolment pension and put that money instead in to overpayment I assume that the pension is still…
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Trying to get my head around the new government pension
Hi I'm really struggling with the new pension scheme, using Susan from this website as an example would I be right in saying http://www.lgps2014.org/content/how-pension-will-be-worked-out If Susan pays into the new auto-enrolment pension at her full rate for ten years then every year after retirement she will receive…
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Workplace Pension Scheme staging dates
I have worked for a small independent company (approx 30 employees) for the last ten years. On enquiring when the Workplace Pension Scheme would be introduced, I was told not before October 2015 due to the size of the company. However, my company has just been bought by a much larger company (of over 150 employees) but the…
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State pension
Hi, might be a silly question.....is the workplace pension as well as or in stead of a state pension. Will i still get a state pension even if I am paying into the work place pension? thanks
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Enrolment optout options
When my company was bought some years ago a couple of us moved to the new company but kept our previous Standard Life pension scheme. This has been paid into with no issues until now, I have been informed that I have to be enrolled into the companies main pension provider but I can opt out. My questions are, If I opt out…
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NEST vs company stakeholder
Hi everyone My company will start auto-enrolment in the next few months. They already had an existing stakeholder scheme which I didn't join but they have now converted that to an auto-enrolment qualifying scheme. I did look into stakeholders a couple of years ago when I was self-employed but the annual fees seemed quite…
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Private Income Drawdown April 2015
Under the new rules being implemented in April 2015, I want to use my pension fund which is with two companies, Scottish Life and Skandia totalling £134,000 to provide an income up to the value of the prevailing tax threshold around £10,000 per annum, leaving the balance invested where it currently is. My question is can I…
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Local government pension scheme
Hi all. I'm a complete newbie when it comes to pensions and I've been auto-enrolled into the LGPS. I'm not sure I know how it works. From their website: Let's say I earn £12,000 a year and this doesn't change for the next 25 years. £55 is taken from my wage each month and my employer also puts in £55. Then at the end of…
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Is it worth it?
Please correct me if I am wrong. My current employer has auto-enrolled me into a pension plan with Standard Life. My employer pays contributions. So far judging from the YTD on my last wage slip they have paid £55 and I have paid £27. My question is this: why is everyone leaving or "opting out" > If my employer is…
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Threat to limit tax free lump sum on retirement
I took early retirement from BT in 2011 and intend to take my pension in 2017. I am fortunate to be a section B member (Defined Benefits) and as such anticipate an index linked pension plus lump sum. I note the speculation in the press regarding proposals to cap the amount that may be taken as a lump sum to £36k but am not…
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I Work in Payroll...
..and had a two hour briefing on AE today. Crikey the government are really making this difficult for everyone. i don't even know if i will opt out or not.
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Auto Enrolment opt out....
Hi Everyone. Had a bit of a row today with pensions guy and HR about this stupid auto enrolment stuff. I don't want to do this. I have provision and currently cannot afford to do anything else. Today I found out that I have to opt in to either my current employer pension scheme or go with the new auto enrolment scheme. I…
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Changing my Percentage
Hi All, The company I work for is due to auto enrol in May and I intend to initially put in 13% of my salary. I can cope this this amount at the moment but if something happens and I'm struggling, are you allowed to decrease this amount? Also, should I be putting all my pension eggs in one basket? I don't have a private…
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Opting in during postponement period
My employer postponed auto enrolment (as allowed by law) until the start of next month 01/03/2014. I was only just informed I have a right to opt in during the is period - but I'm told that since I've already been payed for this month its not possible. I was informed of the postponement some time ago. Should I have been…
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Workplace pension providers
Has anyone found the best and/or lowest charging provider yet?
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Existing Pensions + Auto Enrollment?
Until last July I was paying into 2 pensions: a Clerical & Medical and a Standard Life. The Clerical & Medical was a quite large monthly amount and the Standard Life, which was an original pension taken out in my early 20s was just @ £80. I moved jobs last year and my salary was cut dramatically so I decided to stop paying…
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auto enrolment in april quick question
hi i will be auot enrolled in april this year. i will prob be opting out as i have retirement plans in place already although not a traditional pension plan. what confuses me is this, if i stay with my current employer for the next four years and they are using company a as pension provider, i then change jobs and my new…
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pension calculator anywhere?
Im going to be auto enrolled in the spring and gave been looking for somewhere that will give me a estimate of my pension pot when I retire. Maths is not my strong point so am looking for somewhere I can put in age and salary and it will calculate my final pot using the yearly increments based on the minimum required…
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Can't afford the opt in price..... options?
Hi All, Despite my understanding that the minimum pension contribution was 2% (then going up to 5% & 8% eventually), my current employer has elected to offer only 8.8% to start off with. Which is too much for me at the moment. Can I set up another pension with the 2% option, or not? Not entirely sure what my options are…