You are unauthorized to view this page. Username or E-mail Password Remember Me Forgot Password Questions: 00:00:00 - Intro 00:01:14 - ISAs: I thought these could be passed to spouse/partner as an ISAP. However, Voyant seems to transfer it to cash. Is my assumption about passing on in ISA form correct and if so, then how do I set this up in Voyant? 00:08:27 - What happens to SIPPs on death? In my plan I had 2 SIPPS, one untouched and one partially in drawdown. (feel free to look at my voyant plan if it helps). On my death it looked like both the untouched part of the SIPPs and the drawdown section were all accumulated into one new SIPP for my wife, without any drawdown element. Is this correct? How are SIPPs inherited by partners? 00:11:38 - David via email asks: With the help of the podcast and MA RP modules I have drastically simplified my finances, and also ‘de-complicated’ and de-cluttered my overall life. I now self manage my money (no IFA) and quite enjoy it, although 2022 has been a bit of a challenge ! My wife and I are late 50s, retired, and lead a fairly modest/average lifestyle. We have no CGT, IHT or pension LTA issues, and therefore I have found that I can manage our short and long term financial plan very easily in Excel. I use the same basic assumptions as Voyant Go, and have cross correlated the plan and figures with both Voyant Go and Guiide. Therefore with a very simple financial situation, do I really need Voyant Go ? I do find myself using my Excel plan more than my Voyant Go plan. 00:13:03 - David via email asks: Can you model the income tax marriage allowance transfer in Voyant Go ? I have done it in my Excel plan, but can’t find a way of doing it in Voyant Go? 00:13:24 - Hi Pete, Hope the new year finds you well! I hope this isn't too technical - happy to go off line with it. I thought I was very fortunate to have retired with a DB pension with a linked AVC. I had always been told that the great advantage of this was that I could use the AVC to provide a larger amount of tax-free cash at retirement without commuting any of the DB. The scheme admins even provided a formula TFC max =-[(20xDB annual benefit) + AVC] x 25%. i.e. TFC = 25% of the notional pension "pot". However, on retirement, I was told at the last minute that the max TFC I could actually get would be limited to a lower amount unless I bought additional scheme benefits which I didn't want to do. All I have as a reference to justify this is the rather weighty 2004 Finance Act. Would you be able to shed any light on this? I would hate for others to encounter the same issue just before retirement when plans have been made. 00:17:47 - Now we are approaching year end and looking at our cash flow ladders do you have any thoughts on years 3-5 stuck in Bond funds due to their fall in price. I won't be able to replenish my Cash 0-2 years rung from 3-5 without crystallising losses. I could take from 6-10+ equities....or let the 0-2 drop further hoping for a recovery. Normally the rule of thumb you recommend is to rebalance say annually so at the moment this would mean buying more Bonds as they are now cheaper and presumably higher yielding. Recently you said wisely to just hold on and see what happens which I and guess others have done. I would appreciate your thoughts on this. 00:21:00 - I have the potential to do a very small amount of ad-hoc work after retirement for a single-person limited company. I think I've Mr Googled that I can use the Trading Allowance if it stays below the £1000 limit and not pay tax or NI, is this correct? What might happen if I went over this limit? Can I just pay my NI direct after a manual calculation and put the income in my self-assessment? 00:21:21 - Did you get around to making a cheat sheet for VoyantGo carryover assumptions & plan settings? I'm sure I once saw LTA % but I can't find it now. Would there be any way of notifying us when the version of VG we are using changes (as we can't see it on our client view) and a wee cheat sheet to go with this. 00:23:34 - Hi Pete and Nick, I have a deferred DB private sector pension (deferred May 2010), standard increases were RPI, now CPI and capped at 5%. Current inflation rate has focused my mind on this cap. However, I read on the MSExpert pension forum (MM is still my favourite) that when a DB pension is deferred the rises are treated cumulatively rather than isolated years (see screenshot). However, I receive an annual statement from my DB scheme and this shows an annual increase applied. Before I go off on a fools errand to DB scheme to ask if they us accumulation in deferred cases, do all DB schemes operate this accumulation ie is it a regulated requirement? I'd never heard of this before and its certainly not mentioned in the scheme rules that Mercer scheme admins send e everytime they fail to answer a query. 00:26:25 - What are the main reasons where one would NOT take option of a reasonably non punitive early retirement rate of 0.84 for going 7 years early at 58 from a DB pension? My plan is retire fully at 58, take nil lump sum from any pension, use net rental income as main income £16k (projected 2025), £12k (projected) early retirement pension from DB with c£11.5k (projected) full state pension (67 or poss 68). This level of income more than meets my retirement requirements. OR because I have substantial other pensions/investments c£600k in DC/Sipp and £180k SS ISA and cash ladder £120k.....should I not take DB early and use these instead? I have a partner but no spouse, no children....so my reason for taking DB early was to edge my bets ie if someone pushes me under a big red bus I will have taken some benefit. I believe the tipping point is that I would need to reach 24th year of DB retirement before I would have been better off not taking early retirement....but by c81 years....I don't think I'd care. No personal advice sought, just generic options etc etc. Thanks 00:29:20 - Any further thoughts and/or further suggestions from your 5 Factors for a Successful Retirement Plan video last week? 00:31:54 - I am over the LTA and the situation with tax at BCE age of 75 is somewhat daunting. Is there a way in Voyant of automatically calculating the lowest tax approach? It seems to me it is trial and error, or I suppose I have to create a spreadsheet to do the calculation? 00:35:30 - Thoughts on the Prudential with profits funds and their smoothing process? 00:37:07 - What are the tax implications of inheriting a SIPP. If the deceased was age 64, SIPP value approx. £40K and the person inheriting age 30 is named in the expression of wishes? Can the money be taken tax free and reinvested in an ISA? If left in a SIPP does it count toward the lifetime allowance of the person inheriting? 00:38:33 - If an actuary gets it wrong isn’t there a danger that this could go on for years and you could lose a lot o money? Is it worth paying for a second opinion on your pension quote via a financial planner? 00:41:08 - I find myself asking myself the question, even if I'm happy to manage a portfolio now, will I still want to (or be capable of) do it when I'm 70, 80 or 90? 00:43:44 - I think you said that Voyant has the current freeze in LTA to 2028(?) built in but was 100% I heard correctly. 00:43:56 - What are you thoughts on moving non-contributing pensions between providers to take advantage of cash incentives. Iain May 00:47:20 - Question re transferring my current employer DC pension scheme (managed funds 75% is 100 equities and 25% is 45-80 equities. Currently only the 45-80 is in profit) into my SIPP and into access passive index tracker funds ......do I need to think about timing of trfcor do I crystallise dc losses and just get into sipp. (My dc scheme does not permit partial trf out BUT I am guaranteed re entry as long as I'm out for a month..... 00:51:00 - Is there any way to do an in specie transfer of shares directly into an ISA ? or must they always be encashed? How about bed and isa…. Can that be done on the same day? Prev LessonNext Lesson