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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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2answers
39 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, ...
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2answers
239 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 ...
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2answers
145 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
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1answer
138 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. ...
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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
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1answer
80 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 ...
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0answers
70 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)?
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125 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 ...
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2answers
89 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 ...
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0answers
28 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. ...
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0answers
26 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 ...
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0answers
43 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 ...
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1answer
71 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. ...
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0answers
20 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
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1answer
237 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 ...
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3answers
804 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 ...
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1answer
616 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
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1answer
120 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
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1answer
259 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 ...
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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
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1answer
67 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.
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2answers
107 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 ...
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1answer
47 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
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2answers
117 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 ...
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0answers
164 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
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1answer
81 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 ...
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1answer
319 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 ...
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1answer
62 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-...
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1answer
120 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
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1answer
226 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
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1answer
241 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
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2answers
248 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
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1answer
107 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 ...
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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 ...
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0answers
286 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-...
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0answers
417 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
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1answer
233 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 £...
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1answer
85 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
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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
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1answer
60 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
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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 (...
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0answers
148 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
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1answer
56 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 ...
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2answers
159 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
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1answer
107 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 ...
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1answer
396 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
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1answer
89 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 ...
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2answers
60 views

Should my retirement portfolio imitate my saving portfolio?

I'm a 27, single and have no mortgage or outstanding debts. I've been building up a pension with my company and I only just realized I can choose which funds this is invested in. I'm wondering ...
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4answers
58 views

Does it make sense to contribute extra payments to European state pension funds, considering the projected birth rates?

The average total fertility rate in Europe is below 2.0, which means that with each passing year the workers-to-retirees ratio will keep decreasing. From my understanding this makes it likely that ...
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5answers
7k views

Why would someone who thought they will work until they die contribute to a pension plan?

One of the shocking graphs going round at the moment is from many millennials expect to work until they die: Now I'm a UK millennial who wants to retire early, however if I did think I were going to ...