Pensions - Practical Problems | Forum profile

The effective tax rate becomes 30% in the clawback region.

In 3 years my wife will be 60 and will retire. I'm already retired and in 3 years time I'll be 61 but will not be collecting my state pension until I'm 65. Will my wife still get a single persons pension at 60 ? No. Female state pension ages are in the process of increasing from 60 to 65. Assuming your wife was born on 1 January 1953, her state pension date is 6th September 2015, i.e. when she is 62 years and 8 months old. You...

Thank you for your reply binalurkin. You raise very valid points. I should hit the ?50k threshold in just over a year, so I shall monitor events closely. I'm only 48, so a long way to go yet! Ta very much, Ian.

He implied that I would be taxed and penalised on the ISA come my retirement. I take it his view is tosh. If you were expecting any meanstested benefits to supplement your ISA he could be right, but the same could well be the case with pension income. At least with the ISA you could possibly spend the whole lot on booze and hide it under the floorboards( or a caravan, fishing boat or WHY , before claiming your means-tested benefits. The other...

See page 36 for 60% pension rights.This will be extended to male spouses as of next April's new rules.No restrictions on residency. http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalass... Some useful contact info in here so you can confirm the position.

Can you advise if the ?27k is all from the final salary scheme or are you paying Advanced Voluntary Contribution to get this pension. If so how much of the ?27k will come from the AVC? The ?27k is all from FS. I pay no AVCs at this moment. The only payment I make towards my pension is 4% contributions to the FS. My employer pays the rest. What are your thoughts? Cheers David. PS. Wishing everyone a Happy New Year!

It's an effective tax rate of 50% for the age-related allowances. The income limit for age-related allowances 2010-11 is ?22,900 http://www.hmrc.gov.uk/rates/it.htm 2) These allowances reduce where the income is above the income limit ? by ?1 for every ?2 of income above the limit. For the 2008-09 and 2009-10 tax years they will never be less than the basic Personal Allowance or minimum amount of Married Couple's Allowance. However,...

Does she have any contributions paid within the EU? When you return here, will she pay any here? If so, contact the Overseas Branch at Newcastle. There are ways to amalgamate contributions cross-border. Mike

Tortoise and parallellines: many thanks. I took my TP from Sept 2006, so will do the appropriate calculations. As you say, I should be so lucky as to be above the 1.5 million figure!!

But bear in mind the likely next primeminister has just pledged in a speech this morning to bring forward the pensionable age increases. Although the speech doesn't state exactly what this means, I suspect it relates to the increase above age 65 being brought forward to earlier than 2026, as proposed in a speech by George Osborne http://www.conservatives.com/News/News_stories/2009/10/Speci... " The Government should announce an...