r/PensionsUK

Mid 40s and I have no private pension and recently joined the NHS pension scheme. Family issues earlier in life led me to this. That said, I have a good lumpsum of savings (£100k in ISAs), I still have a mortgage but it's small (£80k). I have 2 kids who are still at primary school.

Currently my NHS pension is only around £5k year. I make enough to put more into it through purchasing an additional NHS pension. Is this a wise thing to do? Or do I go with a SIPP to bridge? What else am I missing?

Trying to get a firm plan and realising the more I try and lock down the more things pop up. So trying to get a more flowchart approach to allow for changes depending on markets and needs etc

One thing my wife mentioned is possibly wanting to work part time for a few years after our retirement age. I don’t want to plan for that as she may well change her mind.. but I don’t want to ignore the upside

Practically though - assuming our numbers work without PT work, is the obvious move to pay everything into a pension up to your MPAA limit I guess? Then it just rolls onto the pension balance for use the following year.

Can I just confirm with people on here who are more familiar with the rules than I am.

I'm still a few years away from state pension age, but I intend to retire in a couple of months. So my earned income will be only 2 or 3 months' worth of salary. I already pay a total of around 20% through salary sacrifice.

When I retire, I will initially take a tax-free lump sum and start a DB pension.

As well as the DB pension, I also have a SIPP, which I don't intend to draw from just yet. I am thinking of making an extra contribution to my SIPP. What's the maximum amount I can make so that HMRC can add the 25% tax rebate?

Also, can I continue making contributions to the SIPP in the following years? If so, would that be limited to £2880 (plus the £720 tax rebate)?

one of my old pensions wouldn’t transfer because it has enhanced something. Finally got their details (they’re a sub-scheme under Aviva now) and they sent me a quote for what it’d pay out now. The only enhanced parts I can see are the GMP which I think is just about equalising benefits between men and women from the description, and a guaranteed CPI linked increase on payouts up to 5% (many are lower now). However, considering the amounts being discussed I don’t think that matters.

important parts from the 31 page pdf they sent me. I’ve rounded some figures for no real reason.

Value of your Pension Pot at 23 April 2026 £15,350

Option 1 - Estimated full pension

An estimated pension of £650 year in respect of your Pension Pot

Option 2 - Cash and pension in the Plan

An estimated tax-free cash sum of £3,800

An estimated pension of £480 a year in respect of your Pension Pot.

I mean - just transfer the £15k into my current SIPP right? that is barely a 4.2% withdrawal rate based on the lump sum value with inflation link so it doesn’t seem like I’d be any worse off. £50 a month index linked isn’t to be sneezed at - it’d cover my energy bills I guess - but a little top up on the SIPP would be simpler

Pensioner here. No dependants. 72 next month. £100K in the bank. Full state pension. Mortgage free. 'Low Rent' lifestyle, tempered that Motor Home impulse.

£150k unvested in old Equitable Life funds.

Pension or draw down ?

NHS pension, 25yrs in. In both 1995 and 2015 schemes

I’m planning to stop working early (10yrs before state pension age, in about 10yrs time)

Is anyone able to tell me what happens if I stop working (and therefore stop paying into my pension) but don’t take my pension for a year or two?

When I finally take my pension, does it pay out with the actuarial reduction for the age I stopped paying IN to my pension, or would it pay out with the actuarial reduction for the age I actually take the pension?

(My instinct is the former, but pensions can be weird so I thought I’d ask)

Obviously, if there’s no difference in the pension payout, I’d take it when I stop working, rather than thinking of saving for a bridge and delaying taking the pension

Many thanks for any information