Over 50's club

324 watchers

macca 53 Jun 2021 5:11pm, 2 Jun 2021 28,882 posts	0 macca 53 Fantastic few pages of info there, especially from bja and um. Fwiw my FS scheme paid out almost pretty much the figures described for the 500k pension pit annuity. Now that I’m also state pensionable age my (protected and inflation linked) net income is very close to my working income minus mortgage, so effectively no change in my disposable income (I’m very happily retired 😁)
Bazoaxe Jun 2021 8:12pm, 2 Jun 2021 19,918 posts	0 Bazoaxe It is all about where the risk lies. the other factor to consider are the taxation implications if you exceed the Lifetime Allowance of just over £1m. If you take the transfer value from a final salary, there is a good chance that you will exceed the limit and incur a significant tax bill at age 75 My curremt plan is to take the guaranteed sum from my final salary and top it up with the drawdown fund I am accumulating which is a bot of both. However I o keep an eye on the transfer value and havent ruled that option out
Hanneke Jun 2021 8:19pm, 2 Jun 2021 74,798 posts	0 Hanneke I suppose I am lucky in that I have lived off £8000 ish a year for years now, so my pension needs are equally low and easily met... It would however be nice to retire early... And not aged 73! So I am likely to make voluntary contributions and remain free lance to some degree until I am 73, for a full state pension.
GregP Jun 2021 8:37pm, 2 Jun 2021 127,113 posts	0 GregP HoD mate - you were in your 30s first time I met you. Scary, innit?
LindsD Jun 2021 9:08pm, 2 Jun 2021 47,466 posts	0 LindsD Agree with V'rap about the needs of high school kids
Rosehip Jun 2021 10:10pm, 2 Jun 2021 21,328 posts	0 Rosehip The first time I stopped work, taking a healthy redundancy rather than retiring, my three were roughly 5, 10 and 15 and it felt like they needed me close more than when they were little.
Hills of Death (HOD) Jun 2021 10:11pm, 2 Jun 2021 35,725 posts	0 Hills of Death (HOD) So was Gobi 😂
Surrey Phil Jun 2021 7:56pm, 4 Jun 2021 6,479 posts	0 Surrey Phil Following my MRI (page 3392), I now have to have a biopsy on my prostate. A slightly embarrassing procedure but better safe than sorry.
RichHL Jun 2021 9:28pm, 4 Jun 2021 16,379 posts	0 RichHL And one some would pay good money for several times a week. I hope it goes well.
Nellers Jun 2021 9:41pm, 4 Jun 2021 38,613 posts	0 Nellers Hope it all goes well Phil. Definitely better to get it checked than to rely on crossing your fingers.