I am over 60 and still earning a salary. Can I continue to contribute to a pension plan and receive tax relief while drawing my state pension and receiving an annuity payment? Would this be ruled out on the ground that I might appear to be recycling some of my pension money?
P. M., Essex
Tom McPhail, of Hargreaves Lansdown, the independent financial adviser, says that you should be able to continue contributing.
In his Pre-Budget Report, the Chancellor said that he would take steps to stop people cashing in personal pensions, then reinvesting the lump sum element in a fresh pension, with an extra helping of tax relief. But what you are proposing is different because you are planning to make pension contributions from your earnings.
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I sent Telefónica the form and share certificate for the sale of my O2 shares well before the closing date. Since then the only communication I have had is two more sets of acceptance forms from Lloyds TSB Registrars, which are superfluous because I have already completed the paperwork. Is this long delay unusual?
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E. S., Devon
A spokesman for Telefónica says that cheques for O2 shareholders were due to be posted this week. Normally they would be sent out two weeks after an offer goes unconditional, which in this case was on January 3. But because the EU wanted to examine the offer it did not go fully unconditional in all respects until January 23. The money was due to be dispatched two weeks after that.
I note that ING Direct (UK) NV is listed as “no longer authorised by the Financial Services Compensation Scheme (FSCS)”. Instead it is listed as EEA authorised. What does this mean and what happens to my money if ING goes bankrupt?
M.B., Cumbria
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Heather Tilston, of the FSCS, says that although ING, its parent company, is based in the Netherlands, ING (UK) has agreed to be regulated by the Financial Services Authority.
It has also reached an agreement with the FSCS, so savers have the same protection as they would with any British financial group.
In the event of something happening to ING (UK), investors would initially have access to the Dutch compensation scheme up to a maximum of €20,000 (£13,700). After that the FSCS would kick in up to a ceiling of £31,700.
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MARK ATHERTON