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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4
votes
3answers
94 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 ...
3
votes
0answers
30 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 ...
1
vote
1answer
78 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
votes
1answer
40 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?
3
votes
2answers
55 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
votes
1answer
26 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
votes
1answer
56 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 ...
0
votes
1answer
67 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
votes
1answer
63 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?
1
vote
1answer
98 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
votes
1answer
80 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 ...
-1
votes
1answer
167 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 ...
0
votes
1answer
50 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
votes
2answers
84 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
votes
1answer
105 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 ...
1
vote
1answer
74 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
votes
1answer
550 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
votes
1answer
95 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 ...
4
votes
5answers
633 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
votes
1answer
83 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 ...
7
votes
4answers
729 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 ...
1
vote
1answer
58 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 ...
0
votes
2answers
137 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. ...
0
votes
1answer
179 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 ...
1
vote
1answer
361 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: ...
1
vote
0answers
44 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
votes
2answers
159 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 ...
0
votes
2answers
148 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
votes
2answers
218 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
votes
1answer
741 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
votes
1answer
70 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 ...
1
vote
2answers
472 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 ...
9
votes
3answers
928 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 ...
4
votes
5answers
754 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
votes
1answer
61 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
votes
1answer
111 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
votes
1answer
56 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
votes
1answer
222 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
votes
1answer
67 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 ...
2
votes
1answer
216 views

What should I do with a low value pension that I probably won't contribute any more to?

About 7 years ago I was employed by a small company. They set up a pension fund for me which I contributed to while I was employed there. When I eventually left the company to study, I found out that ...
1
vote
1answer
110 views

Undestanding the new UK Pension laws

I have this scenario and I am having problems understanding how this scenario fits into the upcoming pension laws (mentioned in the latest budget). A man who is 66 now and 67 on the 8.11.14 has ...
0
votes
1answer
212 views

Do UK tax rules allow you to hold Bitcoin in a SIPP?

Do United Kingdom tax rules allow you to hold Bitcoin in a self-invested pension plan?
1
vote
1answer
249 views

Is it possible to use part of my pension to pay loans, or to opt out of the pension scheme altogether for a few years until my loans are paid?

I have so far worked in Singapore, Norway, and now in the UK. My knowledge about pension scheme in general is very limited. What I only know is that part of my gross salary goes to tax and part of it ...
13
votes
7answers
2k views

Pros & cons in Hungary of investing retirement savings exclusively in silver? What better alternatives, given my concerns?

For my retirement savings, my strategy is to buy a decent amount of silver (8% of my salary, roughly 1 month) every year to put away in coin form. I am currently investing in nothing else for the long ...
3
votes
1answer
156 views

Does one need to pay income tax on pension income in Canada?

When a person starts getting a pension from an employer or from the government after retirement, is he supposed to pay income tax on that pension? Will he pay tax at his marginal tax rate? I would be ...
2
votes
2answers
112 views

What to do with DB pension funds after leaving company in late 20's?

I'm trying to understand if I can roll my defined benefit pension plan into my IRA and invest it that way. I assume I can let it sit in the pension account and earn the interest credits between 2-10%. ...
6
votes
2answers
412 views

How does the Pension system work in Poland?

I've been reading articles I found in chat about the Polish pension system and how it is changing. (Chat room: http://chat.stackexchange.com/rooms/22/show-me-the-money) I'm trying to understand how ...
3
votes
2answers
952 views

Understanding my pension plan

My employer offers a pension plan. According to the plan documents: Effective November 1, 2009 you accrue benefits on a monthly basis under the 2009 Benefit Formula, the sum of which determines a ...
5
votes
2answers
992 views

Evaluating a Job Offer: Defined Benefit Retirement vs 401K is the salary increase enough to make the move

I am currently enrolled in the NYS Employee Retirement System and would get up to 66% of my highest three years as a retirement pension. My current employer also contributes $2800 a year to my private ...
5
votes
2answers
187 views

What type of pension should I get?

I am in my mid 30s and am employed full time in the UK. I am currently in a company pension scheme with around 7k in it, but I'm about to start a new job and must leave the scheme. I have the option ...