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USS - options options options - what to do?
I am taking early retirement ( 55) from USS and will have a DB annual pension of £23k and a separate £9k pa widows pension but my dilemma is I will need an additional £17k pa for the next 4 years to cover short term additional expenditure (supporting children through uni, maintain current standard of living) and I need…
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How long does it take the survivor to receive the widow pension?
Hello, My friend's husband retired 6 years ago and they moved to another country. Yesterday he died after a fall. They don't have children together but he had two adult children from his previous marriage. My friend doesn't know whether he had a will but he used to say he would leave everything to the survivor. My friend…
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When claiming pension why do DWP ask if you've lived overseas?
I reach my State Pension age in August this year and have just received a letter from the Department for Work & Pensions inviting me to claim my pension. As part of the process of claiming it online they're asking if I've lived or worked overseas since 1976. Why do they need to know this? Although I'm living in the UK now…
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Scottish Widows stakeholder pension, best funds
Hello, Following my divorce I received half of a small pension pot. My share when last valued was almost £40k. I tried to get financial advice but as I hadn’t got £250k to invest, no one was interested as I’d pay to much in fees. I decided to stick with SW, as this has been going on for some time. My question is, which is…
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Standard Life £131k?
Standard Life recon the average private pension pot at retirement is currently £131k Ok this forum attracts either, people who know how to use money, or those who want to know how to use money.... But over the last couple of years trawling this forum to gain knowledge, the vast majority of people on here seem to have…
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Transition Arrangements for PCLS following abolition of LTA in April
Hi, What is the best source for info regarding the transition stuff? Any feed/stream I should subscribe to? David
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Deferred Alpha Pension to LGPS Transfer?
Hi all, I am currently trying to decide if I should transfer my deferred Alpha Pension across to LGPS and just want to check I am not missing anything obvious I ought to consider… As a bit of background, I am 53 and I have a previous LGPS pension from 2000 - 2019 when became deferred when I was Tuped across into the Civil…
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NHS/Lloyds/Scottish Widdows missing pension
Hi Everyone My wife was an NHS pension when she started nursing in the late 70’s,In 1989 she was one of many who was advised by Lloyds to leave the NHS pension and move to theirs! Fast forward to 2002, they promised to reinstate her pension in the NHS which doesn’t appear to have happened. They also sorted annuities as…
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USS pension - what has been updated in the income builder?
Looks like the USS income builder (DB) has been updated recently. I have more in it that I had last time I logged in. But I can't tell what has updated? Is this just the adjustment to correct the valuation error of the last few years? Or does it include anything else? The date still says 31st March 2023. Hard to tell…
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Aviva reconnect letter
Both my wife and I received letters from aviva relating to an address we last lived in around 40 years ago. The letters stated that they believed they held an unclaimed Life Assurance or Pension policy taken out with one of Aviva's previous companies. Has anyone had a letter like this? We are pretty certain that we have no…
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Tax Implications in UK on Australian Superannuation funds.
We are returning to retire in UK after 30 years in Australia. What are the tax implications in UK if we transfer some or all of our Australian Superannuation funds to UK, either as a lump sum or an income stream?
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Should I get pension contributions from employer?
Under 22, but earn up to £202.35 per week. Don't currently pay tax, so wondering if pension is a good/bad thing to look into and if the 'tax relief' aspect is even applicable (i.e. would it accrue for when I start to pay tax etc.) please? Thank you
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Pension Release
Hello All, I hope someone is able to help. This is my situation. Myself and my wife are thinking of putting in an offer for a house. We fall short of the asking price by 150k. I was thinking of withdrawing one of my pensions worth 60k in order to reduce the shortfall and therefor save interest on the monthly payments which…
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Claiming pension contribution tax relief for previous years
19 years ago my wife became disabled, overnight out income was halved so it was a busy time. She opened a pension plan because her employers pension pays out under £2k a year because she was only working for a couple of years. The equivalent of her DLA goes into the pot. As I had to retire soon after we are not wealthy!!…
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RANK MONEY PURCHASE PENSION SCHEME
Hi, Spent around 4 months and many, many hours trying to trace above pension, been to Pension Tracing Service, HMRC, .Gov, about 15 companies. My wife left the pension in 1997 but have all paperwork/statements etc. including letter advising Abbey National will be responsible for 'some aspects' of the pension as being…
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State Pension
I was 66 on the 17th April this year, I completed the on line form after receiving a letter from DWP to claim my pension, since then I have heard nothing, I tried to log in on line to find out when and how much I will be getting, but once you start the process, the site then asks for even more personal information, I only…
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Interactive Investor UFPLS
Having transferred from Standard Life to II last year, it's approaching time to take the first UFPLS from II... I've been through their guides, but can't seem to find out how you designate where the withdrawal is taken from........is it just a case, as with HL, where it's your responsibility to make sure there is enough…
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Is there any point in spliting pensions between providers
FSCS provide cover for 85k Would it not be wise to devide pension pot between providers? What am I missing?
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Pension tax
I am age 67, in full-time employment, have not yet claimed my state pension but receive monthly payments from two employment pensions. As the tax taken from my salary calculates to be based purely on that salary I can only assume that the tax on my two employment pensions is paid at source - does that mean that when I do…
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Finding an IFA
I’m looking at retiring this year and need to decide what to do with my pensions. I have a smallish DB pension (circa 7-8k) that will start paying at the end of this year and I don’t really need advice on that but I have a SIPP plus a DC pension with my current employer that I will want to put into flexible drawdown at…