The Retirement Thread
1 lurker |
175 watchers
22 Dec
9:08am, 22 Dec 2024
30,423 posts
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Sigh
Article in the Guardian today about pre-97 final salary schemes, that are not required by law to increase payouts in line with inflation. theguardian.com One of my pensions fell into this group, yet another reason why I'm glad I took it under my own control. |
22 Dec
9:16am, 22 Dec 2024
9,141 posts
|
um
Yep, the HPPA has been making a lot of noise recently. Particularly in Ayr, where Digital Manufacturing was based. I had 29 years with Digital / Compaq / HP, so I am impacted, but fortunately not too badly so far. I can't see legislation changing, but attacking the 'ethical' impage of HP/HPE is fair game, and I suspect barriers could be introduced in awarding government contracts if they really wanted to make an impact. At some point however, HPE seems likely to sell the fund & liability (now closed) to a finance company, at which point I assume all increases will rapidly shrink to only those legally required. |
22 Dec
10:03am, 22 Dec 2024
28,589 posts
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TROSaracen
My DB had the option of index linked or a significantly higher starting amount that was not index linked. I took the former, even though my pension spending is intended to be front loaded. The front loading element will be managed by IFA from investments. I’m suspecting a very inflationary few years ahead so anyone unprotected will suffer heavily, sadly. |
22 Dec
10:58am, 22 Dec 2024
3,386 posts
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Flatlander
I took an annuity with part of my SIPP. I chose a level annuity instead of an index linked one since I calculated that I would have to live well past my expected lifespan before the indexed payments exceeded the level payout. Also, I am well protected from high inflation by my occupational pension, the state pension, and the remainder of my SIPP. |
22 Dec
10:52pm, 22 Dec 2024
627 posts
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OO61
My full pension is one of the 91 too. It is scandalous but not worth stressing too much as there is little that can be done now. Just have to factor it into your plans....
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