Stack Exchange Network

Stack Exchange network consists of 174 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange

Questions tagged [pension]

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

0
votes
2answers
87 views

UK Pension transfer to the US

I'm a naturalized US citizen. When I lived in the UK, as a British citizen, I amassed a small pension pot (about 50,000GBP). Is there any way to get that money transferred to the US (into another ...
1
vote
0answers
74 views

Will the IRS go after foreign countries' pension if you owe taxes?

I am a 70 year old retired Irish citizen living in Ireland. I did live in the USA. Unfortunately, I recently learned that I owe the IRS $15k in taxes from a 401k withdrawal. I own nothing in the USA ...
1
vote
1answer
110 views

Is UK part of my EU state pension lost after brexit?

I worked for a few years in a few EU28 countries. According to the principle of aggregation of periods each country will contribute to my pension. I am only 27 and it doesn't seem likely that I am ...
1
vote
2answers
95 views

Projected Benefit Obligation vs Accumulated Benefit Obligation

I am looking at an annual report from a company, with the goal being to assess the financial standing of their pension plan. I have come across a chart that outlines the companies pension liabilites, ...
0
votes
2answers
240 views

How much can I save if I don't own a car? A worked example comparing car to pension

I don't drive and I've never enjoyed driving. Moreover my eyesight is very poor and I fear I may be a danger on the road. However, some 'friends' and family don't get this, so I want to show a ...
2
votes
2answers
204 views

Risks of selecting a pension plan in the USA

I am looking at a possible employment opportunity with a state-affiliated institution in the United States. They offer a couple of options for retirement plans, and one of them is a pension plan. Of ...
4
votes
1answer
141 views

(UK) Is pension provider obliged to confirm opt out

(Question is in context of UK only) Background Government is currently phasing in an auto-enrollement for private penions. Employers must automatically enroll employeess onto private pension scheme. ...
-1
votes
1answer
50 views

Should the difference between taxable pay and gross pay be roughly equal to pension contributions

I am in the UK. My employeer changed payroll provider and ever since there has been many issues. With my old provider the difference between taxible pay and gross pay was almost exactly the pension ...
3
votes
1answer
162 views

Defined Benefit Lump Sum calculation

I have a Defined Benefit Pension Plan. I know how to calculate my monthly annuity (single life annuity), but can't figure out how the Lump Sum is calculated from the monthly annuity. I have been ...
4
votes
0answers
74 views

Having worked overseas and accrued a pension, can I transfer it to my country of origin?

As a Brit who worked in South Africa for a few years and accrued a pension, now I've returned is it possible to transfer said pension tax-free to a UK pension provider (SIPP or otherwise)?
0
votes
0answers
128 views

Is Private Pension Worth It

I am 23 and now looking into what to do with some leftover monthly money. My question is whether getting a pension is worth it or not. Are pensions in general just scams? Am I just wasting money on a ...
1
vote
2answers
90 views

How to balance the risk of owning one real estate?

I am about 45 years old and recently began to receive a US government pension, which I do not require for current expenses. The monthly payment is about a quarter of my living expenses, but due to my ...
1
vote
0answers
30 views

Tax sheltered investment vehicles for retirement in Canada

Is there any investment vehicles to tax shelter income for retirement on top of RRSP & Pension? I know about LIRA. When you switch job you usually get your pension funds transferred into LIRA. ...
2
votes
0answers
28 views

Relationship between RRSP and Pension plan in Canada

What is relationship between RRSP and Pension? I know that contribution to Pension Plan reduces your contribution limit to RRSP but is it only certain kind of Pension Plan or all? Does it matter if it ...
2
votes
0answers
45 views

Do I have to pay into Canada Pension Plan (CPP) as part time contractor?

I have a fulltime job with a company but in my spare time I do some contractor work for a few clients I gathered overtime. I understand that I have to pay income tax at the end of the year over my ...
6
votes
1answer
91 views

How to evaluate the value of a (state) pension

I read a few articles and posts about putting some money aside for retirement, but it was mostly for America/Canada where if I understand it right, you have to actively save your money in 401K/RRSP. ...
0
votes
0answers
22 views

How to calculate a typical worker's and his/her employer's Canadian pension plan (CPP) contribution over a biweekly pay-period?

Forgive me if I sound naive, but I'm a software developer who just joined a Canadian Software firm in Toronto that deals with payroll software. Lets say John Doe makes CAD$87,500 annually. He is ...
4
votes
1answer
241 views

Start working at age 58. What's probable pension amount?

My dad (58 years old) recently received US Green Card. He is working now as an independent contractor (truck driver) in Pennsylvania state and gets 1099 form at the end of the year. CPA office, where ...
4
votes
3answers
828 views

Young w/ pension plan: lump sum or annuity?

I've become fully vested in my company's pension plan, and I intend to quit in the near future to pursue other career options. It seems the pension scheme allows me to decide what to do with the ...
1
vote
1answer
673 views

Cold email from DeVere Germany, who are they?

I recently received an email out of the blue from deVere Germany talking about my UK pension and Brexit. I've never had contact with the company before and never gave out my email to them. Apparently ...
5
votes
1answer
122 views

I am a foreigner withdrawing a USA pension. Do I file a state tax return?

I am a citizen of a European country who worked a couple of years in the USA, then moved back to Europe. I withdrew my 401(a) pension last year as a lump sum and need to know how this is taxable. ...
4
votes
1answer
264 views

What is the age at which pensions are no longer taxed in Pennsylvania?

I have a pension from Lockheed Martin that I started receiving when I was 59. I am now 63, and they are still taking PA taxes out, even though, according to my understanding, the rule is that pension ...
21
votes
4answers
8k views

Can a person work after “retiring” and receiving a pension?

Can a person work after "retiring" and receiving a pension? For example, in Illinois public workers are eligible to "retire" at age 59 and receive 75% of their salary at the time. So, for example, a ...
2
votes
1answer
70 views

What are units in pensions?

What are units in pensions' context? It seems such a basic term that I didn't find any site with a simple explanation for it.
5
votes
2answers
108 views

Valuing a public sector pension

A common public sector pension structure in the UK is as follows You receive a payment each year from your pensionable age until you die. If you die before your partner, they receive a survivor ...
2
votes
1answer
54 views

Effects of moving around on pension

I'm currently a resident of the US, and I work here on an L1 visa. Prior to this I resided in the UK for about 2 years and I expect to move to Switzerland sometime in the next 10 years for work ...
3
votes
3answers
142 views

Local government or private pension?

This question relates to the UK LGPS. On the surface, this seems less flexible and potentially gives less return than a private pension. Yes, private pension pay-outs fluctuate depending on the ...
0
votes
0answers
166 views

Early retirement options

I plan to retire early (around age 45). Living in Europe. My question relates to what order I should be saving / investing in now and what order to use that money when I get to my early retirement age....
3
votes
1answer
84 views

Drawing down a UK pension abroad

I am 30 years old and currently live in the UK. I am moving out of the UK in 3 - 5 years (to a country in Europe), where I will likely stay. My question relates to pensions, of which I have none. I ...
6
votes
1answer
380 views

Are there any other considerations for bonus sacrifice into Pension (UK)

UK-based. I'll be receiving a Christmas bonus of somewhere in the range £6-11k. I have the option of sacrificing bonus directly into my pension fund, and I'm trying to check whether that's the right ...
0
votes
1answer
63 views

Understanding 403(b) plans and Pension Plans

A company that I worked for long ago stopped mailing retirement savings statements or any info about my account. It took about a year for me to notice. They first switched from quarterly to bi-...
5
votes
1answer
122 views

Over contributing to workplace pension or private pension

First of all, I am in the UK. Currently I pay the default salary deducted contribution (3%) into my workplace-provided pension, which is matched by my employer (the maximum they will match). I am in ...
2
votes
1answer
230 views

UK: is there a danger of pension confiscation? [closed]

Earlier this year I learned that Poland confiscated private pension funds and merged them into their public pension scheme to pay their debt off. I could not find any resources in any respected ...
6
votes
1answer
255 views

Which is more advantageous: Lifetime ISA or SIPP?

I should preface that I am a self employed sole trader in my early twenties, and a basic rate taxpayer averaging somewhere between £28-32,000 per annum. The variation not only arises due to the nature ...
4
votes
2answers
270 views

Making up National Insurance shortfall when working abroad

I lived and worked in the UK for several years, but now live and work elsewhere in the EEA, where I will remain indefinitely. (I have no plans to return to the UK to work or retire, but anything's ...
4
votes
1answer
256 views

Does it ever make sense not to join DC pension?

Background I have always contributed the maximum possible amount to my RRSP (and TFSA for that matter). My portfolio is comprised of a diverse mix of low-cost ETFs in a self-directed account. In my ...
1
vote
0answers
45 views

Pensions and underfunding

I've been doing what I can to gain knowledge on my pension but some details I can't work out or rather specific questions Like this one. When a pension plan is underfunded how much is too much and ...
1
vote
0answers
293 views

Both 1042-S and 1099-R received

I received both 1042-S and 1099-R forms from my pension fund. When I inquired as to why I got the 1042-S, they indicated that the 1042-S reports the pension income I received before they received my W-...
1
vote
0answers
430 views

Is this retirement plan worth the risk?

I am a 24 year old male living in an EU country, with a gross salary (before tax) of €26,000. I am very new to the world of investment and do not have any experience - at best, I could say that I ...
2
votes
1answer
235 views

Can I lend personal savings to my U.K. Ltd company and have the loan repaid into my pension?

Is it possible for me to make a personal loan to my own UK Ltd. and then have the UK Ltd. pay it back by depositing it in my pension? I am an employee of the company and draw a minimal wage: around £...
3
votes
1answer
86 views

When can a pension provider demand reconfirmation of identity?

I've been paying into the same UK pension policy regularly for about ten years. All of a sudden, the pension provider is returning this year's payments and refusing to accept further payments. They ...
14
votes
2answers
1k views

Will the Windfall Elimination Provision reduce my Social Security?

I have recently changed careers after working for 20+ years outside of education, and now I'm being told I will never be able to access any of the SS dollars I have contributed because now my ...
2
votes
1answer
61 views

Rollover into bond fund to do dollar cost averaging [duplicate]

I elected to accept my former employer's pension buyout offer of $15K and roll it into my 401(k) plan. If I had this in cash I would invest it over time to leverage the benefit of dollar cost ...
3
votes
1answer
1k views

Is National Pension Scheme(NPS) not a good investment?

NPS is a pension scheme in India. (Wikipedia says it is very close to 401(k) of USA). The basic outline of the scheme is as follows - NPS invests money in (E)quities (Max 50%), (C)orporate Bonds and (...
0
votes
0answers
167 views

Pensions- what to do now that I am self-employed? UK

I am in my late twenties, live in the UK, and have recently started doing contract work in my own right for the first time. Since this means that I am now self-employed, I am obviously not paying into ...
0
votes
1answer
58 views

Private pension ensurance - Split over multiple contracts?

What are the pros and cons of running several pension ensurances beside each other, instead of putting all the money into one ensurance? Model all in one: Contract A 2016 -> 100€/month Contract A ...
6
votes
2answers
164 views

Consolidating company pensions

I am a 33 year old IT contractor and have 3 company pensions from previous employment over the years. I am looking in to consolidating my pensions and to start adding personal monthly contributions. ...
4
votes
1answer
157 views

sorting out pensions on death

My mother passed away about 14 months ago. She had 3 pensions that are going to pay a lump sum out due to her death, she died before pensionable age. She nominated me and my two brothers to be the ...
0
votes
1answer
414 views

Resign my job - can I claim tax return? how to claim pension contribution?

I am working as a postdoc in UK, resigning job and returning home. In that case can I claim any tax back? I paid pension contributions. How to claim that back? What else I need to take care of ...
3
votes
1answer
91 views

Jersey UK pension

I have a Jersey OAP Pension which was due for commencement in November 2013. The States of Jersey were informed of my UK address in the past but the Service say only 6 months back pay is payable when ...