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.
214
questions
2
votes
2answers
76 views
How are annuity rates calculated for money purchase/DC pensions?
I have two pension schemes from two different UK major providers, and they are presumably using whatever the legal requirements are for calculating projected annuity for my pot, but to me they seem ...
6
votes
1answer
73 views
UK Employer Pension - can I transfer *part* to a private pension?
I'm employed by a large UK company (actually an American company, but the subsidiary). I have a (I think relatively standard) employer-provided money purchase pension, which I've been paying into for ...
1
vote
1answer
81 views
NPS contribution charges and eNPS
What are the benefits of eNPS?
How can we avoid (a) POP trail commission & (b) Payment Gateway Charge while making a contribution in NPS Tier-1 account?
3.What is the recommended/generalized % ...
5
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 (...
2
votes
3answers
453 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 ...
2
votes
2answers
117 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 ...
3
votes
2answers
71 views
How do I know if a Fund engages in Short Selling
Almost all my investments are done through funds in my pension and the extent of my research into them is through the Fund fact sheets similar to the these.
How can I tell if I'm investing in short ...
1
vote
1answer
32 views
Can't transfer EPF account due to pension contribution not present
My previous employer has not submitted pension contribution for the initial months of my service. Now I can't transfer/withdraw my EPFO balance from my old PF account to my new PF account under the ...
1
vote
1answer
46 views
What will my LGPS pension refund consist of?
I have recently changed jobs. My previous pension was with Scottish Widows and contributions were done through salary sacrifice. I now have a LGPS (Local Government Pension Scheme) pension and have ...
0
votes
0answers
48 views
Finding green investment funds
I'm trying to find green/sustainable funds to add to my (UK) pension and am finding it quite hard to pick out good candidates. I'm interested more in the green credentials than in the performance.
...
0
votes
0answers
47 views
How do I write a letter to HMRC claiming higher rate tax relief?
I understand I can write to HMRC to get tax relief on my pension contributions instead of waiting to do a tax return.
Would this letter do the trick? and what address to I sent it to?
Date: [Current ...
1
vote
3answers
143 views
How does the pension contribution work in the UK?
I do not understand the basics and every source online is just entering into a whole load of details without clarifying what is going on with my money.
The contract states that the company will match ...
4
votes
1answer
126 views
What counts toward the tax free limit for pension contributions in the UK
I understand I can contribute up to 40k (or 100% of salary) in one financial year, and I will receive tax relief on these payments.
I was working on this assumption:
employer pension contributions + ...
5
votes
2answers
268 views
State pension from UK when a moving back to Spain after working only 10y in UK
I am a Spanish citizen who has been living in UK for the past 7 years. During this period I have always worked here and I haven't received any income from Spain.
I have also regularly contributed to ...
4
votes
1answer
325 views
Why would anyone choose 403b over 457b?
Some employers offer both 403b and 457b as retirement plans. I looked at them, and it seems they are very similar, except that 457b does not have early withdrawal penalty. It seems 457b is better than ...
3
votes
4answers
518 views
Is investing this lump sum in one of these two funds for the next 5 years a wise decision?
I'm going to be retiring from my career soon, and as well as receiving my pension, I have also qualified for a lump sum of just over £200,000, which I will receive around January 2021.
I won't ...
2
votes
1answer
43 views
Owed taxes for discounted health care after pension cash out
Last year in 2019 my Mom signed up for "Obamacare". At the time she signed up, she was under 400% of the poverty limit, which for 1 person was 12,490 x 4 = 49960. Being under this limit ...
1
vote
1answer
217 views
opt-out of pension scheme(EPS) in EPF while changing jobs in India
I have recently changed my job.
In the previous job, my employer was making a contribution to the EPS as well, there was no option to opt-out of the pension scheme.
But in the new organisation, there ...
3
votes
1answer
62 views
Why does the ATO have “unclaimed super”, should I do something about it?
I am an Australian Citizen currently living in the UK.
I logged on to the Australian Tax Office (ATO) website today an the ATO tells me i have unclaimed super.
It's about $3000, and is exactly equal ...
5
votes
3answers
286 views
Suggested ways to save for a comfortable retirement 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 ...
2
votes
2answers
156 views
When is a 401(k) better than a pension?
There are tons of comparisons between 401(k) and pensions, with the most obvious being the concept of "defined contribution" vs. "defined benefit". This makes them a sort of apples to oranges ...
0
votes
2answers
68 views
Tax savings on employer contribution to pension scheme
Consider the following examples (numbers were calculated from tax.service.gov.uk).
Annual salary: £20000 Income tax: £1498 National insurance: £1260 Total tax: £2758
Annual salary: £60000 Income tax: £...
0
votes
1answer
50 views
Employer contributions to pension schemes in the UK
What are the investment options available to the employee when an employer contributes to a pension scheme for the employee? Can one invest in US ETFs, mutual funds, and stocks? Does this contribution ...
2
votes
0answers
120 views
Pension in the EU when having worked in multiple European countries
I have a few questions about (state) pension plans when having worked in multiple EU countries in your lifetime. First off, EU countries have different requirements in terms of minimum years worked/...
2
votes
0answers
20 views
Puerto Rico Tax on Pension Income
I am considering purchasing a permanent residence in PR. I am retired.
Based on my 3 sources of income below, what would be taxable in PR?
Primary - pension from NYS government not subject to NYS ...
0
votes
0answers
97 views
Pull money out of old pension and start a stock trading account? [duplicate]
I have 10k in an old pension plan with a company I no longer work for. I have a 401k currently with my present employer and would like to take the 5k and start an stock trading account. Would this be ...
8
votes
3answers
1k views
Are traditional pensions still optimal in the 21st century? [closed]
I have long had an issue with traditional pensions, I searched around and found some people at least seem to share some similar thoughts.
In short, my concerns are:
Too restrictive (you can't use the ...
0
votes
0answers
12 views
EU: PEPP for EU-wide private pension insurances
the PEPP plans of the EU will start in the beginning of 2021. How will this affect existing private pension insurances? Will they be changed to be "compatible" or will they remain untouched?
2
votes
1answer
271 views
Forced closure of retirement fund: Best use of lump sum
I have been working in Australia for several years, with a temporary residence visa. I expect to soon be returning to my home country (UK). At this point, my superannuation account will be closed, ...
1
vote
1answer
30 views
NY State retirement withdrawal and management
My wife worked for ~4 yrs at a school in NY. She was entitled to a retirement package. It states that she as a contribution balance of $4,477.
She does not want to go back to work as we are raising ...
2
votes
0answers
29 views
Tax taking out pension exceptional circumstances (UK)
I used to live overseas where I had a private pension pot. Due to covid19 exceptional circumstamnces, the country has allowed to take out 25% which I've just received in my UK bank account. How this ...
0
votes
1answer
53 views
What constitutes “close to being vested” in ERISA claims for illegal termination to avoid paying pension benefits?
Sometimes a company will lay off workers who are approaching their term of service when their pension benefits will vest. So, for example, let's say an employee's pension plan vests at 30 years of ...
1
vote
2answers
161 views
Should I opt out of NEST pension scheme as a young worker?
I am working in the UK. It's my first permanent job and I've discovered on my last payslip a line named NEST Pension Scheme. I googled a bit and I have discovered what it is but first, as it seems to ...
1
vote
1answer
39 views
NPS Tier-1 Account
If the present fund value is less than the total invested amount in NPS-Tier 1 account and we change the scheme preference(I mean change the % allocation in Scheme E,G,C) then do we have to book ...
1
vote
1answer
64 views
What happens when you over-contribute to Swiss Pillar 3a accounts?
If your total contribution to 3a accounts in a year is more than the limit (~6800 Fr. currently), what happens?
I could see several options:
a) the amount just carries over to the next year's ...
2
votes
1answer
62 views
Received lump sum payments for OAS, GIS application (for last 3 years) with one T4 slip in 2019. How can we still qualify for “refundable tax credit”
My uncle & aunt in Canada applied for their OAS (Old age security) & GIS (Guaranteed Income Supplement) & Allowance payments in January 2017 and they were qualified to receive all benefits ...
4
votes
1answer
246 views
Does higher rate tax relief count towards pension contribution limits in the UK?
I understand for 20/21 the annual pension contribution limit is 100% of your salary or £40,000, and this effectively means that the total of your employer pension contributions + personal pension ...
1
vote
2answers
38 views
Where/how does pension tax relief for higher rate tax payers get paid once a self-assessment tax claim is completed?
If a UK higher rate taxpayer makes payments into a SIPP, and then completes a tax self-assessment form, how will the government return the money? Does it pay it to a person's bank account? Into their ...
2
votes
2answers
54 views
Comparison of tax benefits in ISAs and pensions schemes in the UK
I'm reading about pension schemes in general, and in the UK in particular. I think I have understood how the tax relief works, still I'm not sure.
Given this quote I have found:
If you are a basic ...
2
votes
1answer
32 views
Defined-benefit / final salary pension schemes in the UK
I have been reading how defined-benefit pension schemes work. My understanding is basically that you agree with your employer a life pension you will receive when you retire, which is calculated as ...
1
vote
4answers
78 views
Pensions and personal circumstances, assessment and alternatives
Pensions are very popular financial products, and are quite strongly encouraged, both through favourable tax laws and employers contributions. In all cases I am aware of, neither the contributions ...
2
votes
1answer
71 views
Are workplace pensions less efficient than salary sacrifice because of national insurance?
I'm contributing to a Workplace Pension.
For each £100 I earn (within limits) I contribute £5, and my employer contributes £3.
I pay 12% NI on my £5, so it costs me £5.60. My employer pays 13.8% NI ...
2
votes
0answers
46 views
Canada Pension Plan Transfer
I have lived for three years in Canada, and made three contributions to the CPP. I now live in Switzerland and do not plan to return to Canada ever.
Is there any way to transfer these contributions ...
0
votes
1answer
58 views
How to get a transfer out form from NOW Pensions
My old employer chose NOW Pensions as the auto-enrole pension (despite a 1.2 star rating on trustpilot.com) and now I want to transfer the money accrued in that account to my current pension. I've ...
0
votes
2answers
240 views
S&P 500 only returns 1.26% (after UK inflation)… am I wrong?
I invest in the S&P 500 from the UK.
I am trying to calculate what my investment pot will be in 25 years, adjusting for inflation.
Unfortunately, my calculations point me towards an abysmal ...
3
votes
0answers
84 views
Can one take retirement benefits from both Europe and the US?
Person A, a German citizen who currently holds a US green card and lives in the US, worked earlier in their life in three different European countries, contributing to various government-sponsored ...
2
votes
3answers
316 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
1answer
165 views
Is $50k in business income enough to consider hiring a pension specialist?
I am currently a full time software developer, and have a side business done under my own LLC (S corp).
For the sake of having concrete numbers, lets say I make $100,000 through my full time job, and ...
4
votes
1answer
265 views
Reasonable Rate of Return on A Pension?
Like a lot of people, I have a string of relatively small pensions, all invested in different funds with a few different providers. I should add that I'm no longer paying into any of the ones I'm ...
5
votes
4answers
311 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 ...
