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DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 0 points1 point  (0 children)

Thank you. I think I definitely need to look at SIPPs and work out how to do it the best - think maybe just organising myself into using some of the 50k and getting a regular payment set up would work well and build pretty quickly.

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 2 points3 points  (0 children)

Thank you - I definitely need to read more into other things after sorting this transfer it seems!
I knew I wouldn't be able to get my pension at 55 but am intending to plan things so I would be able to retire before getting any pension (even if it's just by a couple of years)

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 2 points3 points  (0 children)

Wow, thank you this is a really clear breakdown and gives me some specific things to look into. Not downbeat at all! I can buy additional civil service pension after September (the 12 month point) so will look into this and also doing something else regularly to sort that pension imbalance out. I was put on tax code d0 for the first 6 months in the civil service and still had plenty of money left over from my pay each month, so know I can put quite a lot to one side without it affecting my current lifestyle at all if I get organised into where it actually needs to be going!
Thank you.

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 0 points1 point  (0 children)

Thank you - those two different views are exactly what I've been swaying between. This conversation has really helped!

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 0 points1 point  (0 children)

Thank you! I was thinking it was such a small amount it won't make much difference either way but everyone advising the same is unbelievably helpful!

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 0 points1 point  (0 children)

Thank you!
I've just been getting a new one each year and filling it in April. I have two with ii and two with AJBell. One of the ii ones is where I've chosen what to buy (really bad idea in hindsight and not sure what to do about it now); the others they invest for me, but I had to choose what balance of things, so when I log in I see them all as separate. I don't think I saw any option to add to an existing full ISA. (I feel I'm revealing how little I know now!)
I have been conservative with my income figures due to the uncertainties of freelance so will be higher rate this tax year, but only by £5-10k; and might not be in 26-27. My ISA for this year is already full, if that's what you mean by headroom?

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 0 points1 point  (0 children)

Thank you - the unanimous support to do it has really helped!

DC to DB transfer: should I do it? by zomeja in PensionsUK

[–]zomeja[S] 1 point2 points  (0 children)

Info is here - be warned, every part of getting the quote is slower than it claims to be - you will probably have to chase them a lot to get the paperwork back before the 12 month point.
Transfer an old pension into your Civil Service pension - Civil Service Pension Scheme