For questions related to pension, which are usually contracts to pay an individual a fixed sum after retirement from an organization or service.

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How to save on taxes due on a lump sum pension payment

Upon resigning from a company, if employer offers a lump sum pension payment of 100k, what are some ways to save on tax on this 100k? Assuming this 100k, is the only income that year, the RRSP room is ...
4
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3answers
116 views

Recovering Small Workplace Pension Pots

Like many professionals, the new 'standard' length of stay at any one company is around 2-3 years. I myself have moved a few times at the start of my career from one company to another, beginning ...
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1answer
68 views

Taxes in the UK

I am an EU citizen that recently moved to the UK. I lived in another EU country for the last few years and started a pension saving account there. This account is still open but I live and work in the ...
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1answer
35 views

Continue contributing to pension vs waiving FICA

This is my first post! I have a little dilemma I have to decide whether I want to continue stop contributing to my city pension with the benefit that I will be able to waive FICA. Let me give some ...
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0answers
11 views

What is the method to calculate pension adjustment as shown on a T4?

How does an employer calculate Pension Adjustment (Box 52 on T4). Is it the amount of money that the employer contributes on my behalf each year to the company's pension plan + any optional ...
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2answers
60 views

Pension + Pay Compensation Calculation

How would you do a simplified calculation of your compensation with an added pension. E.G. Your pay is $50,000. Your employer will pay you roughly $0.33 for every dollar you earn after you retire. It ...
8
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1answer
157 views

When should one use the new lifetime ISA in place of investing in pension?

Assuming that I am not interested in purchasing a flat using lifetime ISA, is it ever advantageous for me to put money into it in place of a pension? Since lifetime ISA gives 25% tax relief on ...
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0answers
19 views

How can you use the German Pension Fund money for non-EU pension fund?

I am a Non-EU citizen. I work in Germany and am contributing to German Pension Fund. My country has a tax treaty with Germany for pension fund benefits. So, how do I take pension from the Germany when ...
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1answer
57 views

How can I estimate future pension pot limit?

To ensure I don't overflow my pension in future, I require some way of best-guessing what the pension pot limit will be when I retire (it's currently £1.25M, soon to be £1M due to new policy). ...
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0answers
61 views

Divorce and Social Sec, Pension, and 401K

I am 65 while my spouse is 52. My spouse has been the sole breadwinner of the family and we've been married for 25 years If we were to get a divorce, can I start collecting now on my spouse's Social ...
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1answer
57 views

Performance Figures

I'm interested in evaluating pension funds and was looking at some past performance figures. In particular these funds (see page 35). When I look at these figures, how does this relate to what I ...
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3answers
129 views

Suggested ways to save for a comfortable retirment in the UK given the lifetime allowance limits on pensions?

I've heard the rumor that this March's UK Budget will lower the Lifetime Allowance (LTA) from £1M to £800k or even less. They might index this for inflation. That seems to me to be a pretty low ...
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0answers
48 views

Pension LTA (Life Time Allowance) limit criteria

I've been reading about pensions and specifically the LTA (Life Time Allowance), and after spending days reading everything anyone has to say about it, the only thing I'm sure of is that there are ...
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1answer
1k views

My pf no on salary slip is MH/PUN/ Can anyone tell me how can I get UAN no if combination for Maharashtra-Pune becomes PU/PUN UAN Member Portal?

I work in India, Pune. I want to generate UAN [Universal Account Number] allocated to track the PF [Provident Fund, Govt. Pension scheme]. I was using government site Employee's Provident Fund ...
3
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1answer
47 views

OAS And spouse's allowance

I just turned 64 three months ago and am currently receiving spouse's allowance. Can I submit the OAS application now or should I wait?
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2answers
79 views

Can I transfer money from a personal pension to a SIPP, while leaving the original pension open?

As is fairly common in the UK with small-ish companies, my work has an agreement with a large pension provider to offer personal pensions to all employees. If you choose to open and pay into that ...
2
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1answer
28 views

Should I rollover my pension into an IRA?

I have roughly 15k in my pension and am 31 years old. I recently left my company and have the option to keep my pension at Bank of Montreal, or transfer it to my Roth IRA, or I can open a traditional ...
2
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1answer
84 views

UK income tax relief on pension contributions (higher rate)

My question is regarding UK tax relief on pensions, and there are a couple of questions. Say I earned £52,385, exactly £10k over the UK higher rate tax band of £42,385. My provider would usually claim ...
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1answer
71 views

Is it safe to have pension plans with an insurance company with a strong brand but not-that-good credit rating?

I am looking for a pension plan and as part of my investigation, I am checking the credit ratings of the company(eg Moodys). What I am seeing is that the company is having a Baa2 rating. Though the ...
2
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1answer
86 views

Do you still get CPP/OAS if you live outside Canada

If a Canadian citizen decides to spend retirement years outside Canada, do they still get the full amount for CPP/OAS? or do they need to have residence in Canada?
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1answer
105 views

Is the earliest retirement age set by candian government or by the employer

My employer tells me that there is a concept of an 'earliest retirement age' which happens to be 55. basically if I retire at 55 instead of 65, the formula for the company pension (not Canada pension ...
2
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1answer
88 views

What is the point of state pensions topup

The UK Government are offering a pension topup scheme details here: https://www.gov.uk/state-pension-topup Going on the above example, it would take 20 years to recover your initial 4k outlay ...
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1answer
174 views

If you are layed-off by the US Navy, do you lose retirements benefits? [closed]

Sailors in the United States Navy get a pension after 20 years of service. A few days ago, I met a man who told me he had been laid-off from the US Navy after 17 years of service and that he now ...
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1answer
61 views

Will interest rates on bank deposits ever fall close to 0 percent in India? [closed]

I wanted to know if interest rates will ever fall to close to 0 percent in India. + I would like to know that as close to 0 interest rates might affect the income earned through debt instruments at ...
3
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2answers
89 views

Retirement planning: Pension or personal saving/investing?

I work on short-term contracts that are well-paid - however, not knowing how long I will be working on a job, I have got into the habit of 'making hay while the sun shines' and saving what I can to ...
3
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1answer
112 views

UK Defered Pension. Lump Sum or Weekly benefits?

My mother in law chose not to retire at 60 and has worked another 5 years. At the time she chose to defer her state pension and it's been increasing in value since. Now at 65, she has chosen to retire ...
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1answer
78 views

Pension Investing dilemma

I'm 61 years old, recently retired and need to decide how to take my pension from my former employer's pension fund. This is a church-affiliated hospital system pension fund in the USA and is ...
5
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1answer
556 views

Financial loan/pension jiggery pokery?

Without my asking my bank has offered me a £10,000 loan over 3 year at 3.8% APR fixed. They say that over 3 years the total amount payable will be £10,586.52. This sounds quite good VFM. On the other ...
6
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1answer
104 views

Can you change auto-enrollment pension provider? And what happens if you change jobs?

I'm trying to figure out if someone who has been auto-enrolled in a company pension scheme can change their pension provider. I opted out of the pension provided by my company because I couldn't ...
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5answers
648 views

Retirement - Annuity or not?

I have a pension worth around £150k and am due to retire soon. With the new pension rules in the UK, what would be some good options to maximise my income post-retirement? Annuity - I will be ...
2
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1answer
90 views

Should I/Can I consolidate multiple company pensions?

I've been paying into pensions since I got my first job after leaving university. I've changed jobs 4 times over 10 years and I now have a scattering of company pensions from various providers. So I'...
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4answers
736 views

Pensions, annuities, and “retirement”

I already knew about pensions, but I’ve just heard of annuities today. The DifferenceBetween.net article “Difference Between Annuity and Pension” says, A difference that can be seen between ...
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1answer
60 views

historical data for analysing pensions [closed]

It is my contention that one of the benefits of a pension is that it provides a system for age-averaging. Imagine three people, each born five years apart (say 1960, 1965 and 1970). These three ...
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2answers
169 views

What is meant by pensionable earnings

On my T4 from my employer, it says : CPP/QPP pensionable earnings. And there is an amount for this field. What does this mean? Is it the pension I am going to get when I turn 65? I dont think so. ...
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1answer
181 views

What are the pros/cons of these investment types?

My UK pension company allows me to make one-off online payments, and surprisingly I found out I can invest the money in any way I want. My options are as follows: International All Share ...
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1answer
500 views

Double entry bookkeeping for a defined benefit pension scheme

I'm a member of the UK's Civil Service pension scheme nuvos which is a defined benefit scheme and I use double-entry bookkeeping software (Gnucash). Every month this happens on my payslip: ...
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0answers
48 views

General resources for people living in Europe

It seems difficult to find books and articles about investing that are not focused on the US. The situation in Europe is a bit more complicated, with every country having its own laws - one usually ...
3
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2answers
171 views

Can/should a foreign person working overseas for a US company contribute to a 401k?

Our company (US-based) is considering hiring a foreign citizen (UK) to work for us in the UK. I believe that they CAN contribute to a 401k, but should they? Do they receive the same benefits from the ...
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2answers
155 views

How to calculate the potential difference of putting money into buying my house vs paying it into a pension

I've been wondering for a while if I would be better off stopping my pension payments and paying the money off my mortgage and paying it off more quickly. Then I would rent out the house and start ...
2
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2answers
226 views

Ready to invest but I'm overwhelmed with the number of brokers and services

I have £15,000 - £20,000 to invest for the long term and I've researched what I will regularly invest in to: Pension, Index funds, Bonds, small number of individual stocks (maybe) as well as my cash ...
5
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1answer
754 views

Should I combine all my pension pots?

I live in the UK. I have a private pension with Scottish Widows and a University pension which is superannuated. I no longer pay into the SW pension as a legacy of money difficulties in 2010 which are ...
0
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1answer
72 views

What should I take into consideration when deciding whether to transfer a pension fund?

I have a pension with a previous company, and a pension with the company I am working for now. The two pensions are very similar as far as I can tell. How should I decide whether to leave the old ...
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2answers
505 views

How much should a 24 year old contribute to a pension?

Im 24 and going to set up a pension. I don't know how much to contribute. Can anyone give any advice on how much they think I should contribute? My employer doesn't offer any pension benefits and I'm ...
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3answers
1k views

Housewife pension options

We live in the UK. I have a job and pay into a company provided pension (with the company then paying in some extra). My wife left her job a couple of years ago and is now a 'house wife' aka stay-at-...
4
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5answers
838 views

As a contractor, should I overpay my mortgage or contribute to a pension?

My specific situation is:- Early 30s Software contractor via a ltd company Resident in Scotland Higher-rate taxpayer Mortgage at ~5% (variable 4.5% above BoE), LTV about 75%. I'm allowed to overpay ...
2
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1answer
63 views

Why would you use an IFA for choosing a pension fund

I've been trying to sort out a pension fund and been talking to an advisor from st. james place, who whilst admittedly not exactly an IFA does seem to know his stuff. But their fees are relatively ...
3
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1answer
112 views

Is there any way to cash in a pension fund?

The last company I worked for (I'm in in the United Kingdom) had one of those schemes where the company puts a certain amount of money every month into a pension fund. I quit my job and now I keep ...
2
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1answer
59 views

Extra revenue for retiree receiving a basic public pension

I have an online blog that I don't use. It generates some money through ads but not enough for me to spend time on it. My mother wants to take the blog and maintain/update it herself and receive the ...
3
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1answer
233 views

Do I have to pay an advisor 3% to transfer a pot of £49,000 to another pension provider?

I am looking to re-invest a stand-alone pension (originally called an AVC pension: Additional Voluntary Contributions pension) so that I can take 25% as a tax-free lump sum and retain flexibility in ...
3
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1answer
69 views

How should I include pension contributions in my UK Child Benefit calculations?

I'm using the gov.uk Child Benefit Tax Calculator and I don't know how I include my pension contributions in the "Pension contributions deducted from your pay" and "Pension contributions not paid from ...