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Pension advisor- recommendation

Windy
Windy Posts: 85
in Not Sports Related
I have different pensions from different jobs I’ve done over the years. The biggest is SHPS. There may be an issue with my lifetime allowance. I’m also starting a new job in February. I had some advice last year but then the adviser went AWOL and refused to respond to any emails or phone calls. In truth it seems to be a very complex area and I’m certainly totally confused.

In terms of an independent pensions advisor is there anyone Lifers would recommend I can use? 

Thanks.

Comments

  • Redrobo
    Redrobo Posts: 11,330
    Golfie
  • Dippenhall
    Dippenhall Posts: 3,919
    If you want to inbox me I can give explanations.
  • Windy
    Windy Posts: 85
    Redrobo said:
    Golfie
    Thanks.
  • Addickted
    Addickted Posts: 19,456
    Your SHPS provider should be able to give you advice on the lifetime allowance and how to make the most of your tax free allowances.
  • Rob7Lee
    Rob7Lee Posts: 9,595
    As above give Golfie a try, 

    In my view exceeding the LTA is not a major major issue, just not tax efficient at the point of crystallisation. If you are getting to he point where you have, will or think you will exceed the limit, at the new job just take cash instead of pension, most companies will do so due to LTA and speak to an advisor to look at protection options.
  • golfaddick
    golfaddick Posts: 33,628
    Rob7Lee said:
    As above give Golfie a try, 

    In my view exceeding the LTA is not a major major issue, just not tax efficient at the point of crystallisation. If you are getting to he point where you have, will or think you will exceed the limit, at the new job just take cash instead of pension, most companies will do so due to LTA and speak to an advisor to look at protection options.
    I would echo the thoughts around looking at the protection schemes, although if you've never taken any up the all that is realistically available would be IP16 & that caps the  LTA at £1.25m. 

    Feel free to PM me @Windy. I've lots of experience with the LTA & excess tax charge as I deal a lot with Doctors and the NHS pension scheme.
  • Windy
    Windy Posts: 85
    @Redrobo, @Dippenhall, @Addickted and @Rob7Lee thanks for your comments.

    @golfaddick thank you, I'll PM you.
  • PrincessFiona
    PrincessFiona Posts: 5,447
    golfaddick said:
    Rob7Lee said:
    As above give Golfie a try, 

    In my view exceeding the LTA is not a major major issue, just not tax efficient at the point of crystallisation. If you are getting to he point where you have, will or think you will exceed the limit, at the new job just take cash instead of pension, most companies will do so due to LTA and speak to an advisor to look at protection options.
    I would echo the thoughts around looking at the protection schemes, although if you've never taken any up the all that is realistically available would be IP16 & that caps the  LTA at £1.25m. 

    Feel free to PM me @Windy. I've lots of experience with the LTA & excess tax charge as I deal a lot with Doctors and the NHS pension scheme.
    Golfie

    I've PM'ed you a question - I can maybe buy you a beer before a game once we are allowed back

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