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Pension options
Hi, My son has 8/9 small pensions with 5/6 providers after being auto-enrolled by previous employers. He has now found a job which he will hopefully stay in for many years and will soon get auto-enrolled in their pension scheme. My question is where is the best place to get advice about what to do about all the small…
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Transferring 8 Pensions into Vanguard SIPP - Good Idea?
I have been lazy with my pension pots over the years through different employers and those pots have just been sitting there with exorbitant fees and poor growth. I am now planning to do something about it before it is too late, I am in my 40s. The pensions I have are a combination of small and big pots with the likes of…
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Pension Pot Gone Down!!
I consulted a financial advisor who invested my meagre retirement amount of money last year. I haven’t looked at it until now as I know it’s not good to look at it regularly and am horrified that it’s gone down £8000! Whereas I know they go down as well as up I didn’t expect that amount of drop in a year?! It’s all…
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Interactive Investor SIPP question
I note there is a fee of 12.99 per month. Is this the II "platform fee"? You also have to pay a percentage fee - albeit smallish generally around the 0.2% mark - for the various funds that you decide to invest in??? Trying to do the numbers. My workplace pension offers a fee of 0.3% so by the time the platform fee and fund…
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Drama Trivial commutation NHS Pensions
I decided to take my 2008 NHS pension as a trivial commutation, it's capital value is around 22k. I plan to buy a camper this year and have some fun. I duly filed the AW8 form, the form to request trivial commutation AND two cover letters requesting a trivial commutation. I have chosen to retire and return so that I can…
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Commute 25% tax free lump sum - Deferred Pension
Hello, I'm new to the forum and I have a question regarding a deferred pension. I should start by saying that I have little knowledge on this topic so any advice/comments from more experienced users would be greatly appreciated. I apologise in advance for the long post! Not sure what information is necessary to provide so…
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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…