WHO Poll
Q: 2023/24 Hopes & aspirations for this season
a. As Champions of Europe there's no reason we shouldn't be pushing for a top 7 spot & a run in the Cups
24%
  
b. Last season was a trophy winning one and there's only one way to go after that, I expect a dull mid table bore fest of a season
17%
  
c. Buy some f***ing players or we're in a battle to stay up & that's as good as it gets
19%
  
d. Moyes out
37%
  
e. New season you say, woohoo time to get the new kit and wear it it to the pub for all the big games, the wags down there call me Mr West Ham
3%
  



michael 5:54 Sun Mar 26
Taking your pension at 55 advice please.
Been at the same company for 35 years.Manual job,back and hips are in poor shape.55 now may be able to take a small lump sum to take off the mortgage.And a pension that would enable me to go to a 4day week.Spoken to a couple of financial advisors,all they have done is tried to flog me something.Any advice welcome also the usual abuse I’ll take.

Replies - Newest Posts First (Show In Chronological Order)

COOL HAND LUKE 11:57 Sun Apr 2
Re: Taking your pension at 55 advice please.
moneyhelper/pensionwise provides free advice for anyone thinking of taking their defined benefit pension early. You don't have to pay.

New Jersey 4:06 Sat Apr 1
Re: Taking your pension at 55 advice please.
If it's a private pension and it's over £30,000 and has a Guaranteed Annuity Rate then you are legally required to get financial advice. Fucking annoying as my Mrs had to pay over £700 when she already knew what she was doing with the money, cunts!

Gaffer58 3:52 Sat Apr 1
Re: Taking your pension at 55 advice please.
From what I understand if your pension value is over £30k then you have to take advice or use a financial advisor to move it, but due to the mis advice that some people were given, quite a few steelworkers involved, then a lot of advisors aren’t interested as they could be sued at a later date. And as said earlier if it’s a defined pension then most advisors would tell you to leave where it is.

zico 3:51 Sat Apr 1
Re: Taking your pension at 55 advice please.
I have a pension from back in the 90's, and old style one. Found out there was 50k in it, unfortunately to withdraw more than 30k as a lump sum I had to speak to a financial advisor before the company would even think about handing it over and FA fees plus tax I found was a bit pointless. So I've decided in June to take the tax free lump sum option of just over 10k and get around £1.500 a year which at around £100 a month it's nothing really but will be a hundred quid towards the energy bills if nothing else., To benefit from the 50k I will have to live until around 93 which won't happen but it was such a hassle as it's an old style pension.

Westside 2:53 Sat Apr 1
Re: Taking your pension at 55 advice please.
you can withdraw 25% each year tax free.

You can't.

The 25% is the total you can take tax free.

From a £500k pot, you can't take 25% (£125k) in year one, then £93.75k in year 2 and so on.

PwoperNaughtyButNot 2:33 Sat Apr 1
Re: Taking your pension at 55 advice please.
Just to be clear

If you have a defined benefit scheme then leave it where it is. Whoever administers if will bite your hand off if you move it.

Other pensions, if you have them all over the show then someone like Pensionbee is good, you can also use vanguard and anyone else who offers a SIPP and transfer at will. You don’t need to prove financial advice has been given. It’s your money

TJD 1:42 Sat Apr 1
Re: Taking your pension at 55 advice please.
You do not have to speak to a financial advisor. I moved all my 8 or 9 pensions into PensionBee and wished I had done it a lot earlier. you can withdraw 25% each year tax free. Up to you to weigh up the financials.

Jasnik 10:31 Fri Mar 31
Re: Taking your pension at 55 advice please.
OK so what would they need these companies to let you have the money to prove you spoken to an advisor.

lincslink 10:17 Fri Mar 31
Re: Taking your pension at 55 advice please.
No from an independent firm

Jasnik 9:51 Fri Mar 31
Re: Taking your pension at 55 advice please.
these financial advisors do they have to be with the company you got your pension with as I got them spread out all over the place so don't want to speak to 5 different ones for 5 x cost?

lincslink 9:41 Fri Mar 31
Re: Taking your pension at 55 advice please.
You have to have advice from a pension specialist or the company won’t release the funds.

Nurse Ratched 9:40 Fri Mar 31
Re: Taking your pension at 55 advice please.
I know it well. Lovely area to live. I spent my early adulthood in Teignmouth.

VirginiaHam 9:38 Fri Mar 31
Re: Taking your pension at 55 advice please.
Find a proper financial adviser.

lincslink 9:34 Fri Mar 31
Re: Taking your pension at 55 advice please.
Rusta

The financial firm I took the advice from transferred it so went easy. Once it was transferred I binned them as they wanted to manage it for an annual fee. Mine is in Royal London who very helpful.

Rusta 9:26 Fri Mar 31
Re: Taking your pension at 55 advice please.
lincslink

Who did you transfer it to and was it straight forward process?

lincslink 9:16 Fri Mar 31
Re: Taking your pension at 55 advice please.
Torbay

Nurse Ratched 9:09 Fri Mar 31
Re: Taking your pension at 55 advice please.
What part of Devon, lincs?

lincslink 9:03 Fri Mar 31
Re: Taking your pension at 55 advice please.
I took mine at 55 from National Grid, I had to have financial advice and transferred it to one of the big few. That was 5 years ago now and it allows draw down and you can also leave what’s left in a will, which company pensions don’t allow. I moved to South Devon and enjoying life to the full.

Mike Oxsaw 7:52 Fri Mar 31
Re: Taking your pension at 55 advice please.
When I took redundancy from BT, part of the package was meetings with financial advisors regarding my pension. They were paying so I saw 3 who each offered me a range of options.

As I hadn't yet firmed up my future and being an autistic geek, I spent a few months running simulations (on an old 286 PC) for each package for whatever "future" for myself I could envisage.

In the end I settled on working abroad and transferring the pension to a private company with a top-up option (that I never used).

It performed well enough for me and my needs - could probably have got a little more had I put (even) more effort into it but as it met my (not someone else's) needs/requirements I didn't see the point in giving it any more of my time - especially as I was about to join the jet set...

Rusta 6:51 Fri Mar 31
Re: Taking your pension at 55 advice please.
Just found out my pension doesn't allow draw downs which is really annoying because I was going to take a lump sum this year on my 55th birthday and leave some in there to take yearly

Seems I have to transfer it to another pension fund to do this

I know literally fcuk all about all this and thought this was gonna be all straight forward

Westside 8:08 Mon Mar 27
Re: Taking your pension at 55 advice please.

And whilst not McDonalds and Apple, it's not Enron, Lehman Brothers or BHS

Page 1 - Next




Copyright 2006 WHO.NET | Powered by: