The Retirement Thread
4 lurkers |
172 watchers
May 2022
6:54pm, 16 May 2022
61,796 posts
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Lip Gloss
Just fired off an email to set up a meeting with my FA to see if I can start the ball rolling. I can’t get onto my NHS pension either so will phone them tomorrow
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May 2022
8:51pm, 16 May 2022
22,654 posts
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Bazoaxe
HG going back to your NPI pension. That looks to have been taken on by phoenix long before the business I worked for got sold to them so I am of limited help If however you know that’s who it was with then I would ask again and maybe submit a complaint as they must have details. If you were a staff member that may also have been kept separa5eky and administered by a different team. Also was it defo Dc and not DB. If DB it may be with a trustee like mercer etc You could also try the pensions regulator as they may have information on where pensions got consolidated The link um shared is good and also you have the pensions dashboard coming if it launches next year as planned With regards to next, I would look elsewhere as you can get better deals but need to weigh up costs of the various options You could also consider something like pension bee which will consolidate any pensions and may also help find old ones. However as before you need to look into costs |
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May 2022
8:58pm, 16 May 2022
22,655 posts
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Bazoaxe
And on my call wit(ph the adviser today, it was quite useful. He is going to write everything up and then I decide. I am thinking I might say I will come back in around 12 months. What it has done is make me clearer my decision not to transfer out of DB is the right decision for me having weighed up the risks. I can see how much my DC pot has lost this year and I also note my transfer out value has plummeted. I think I would rather spread the risk with some certainty of DB and the flexibility of DC The adviser did introduce one new idea but one I don’t think I will pursue which was to defer DB to avoid an actuarial reduction and transfer out part of the DC to last me. However the actuarial adjustment I see is not that significant. He did say though his cash flow modeller would look at scenarios like a market drop and also what would happen if one of us were to die not long after retirement and how that would leave the other financially which is actually a scenario you don’t want to consider but really should. The other thing is I think that subject to the market losses we have recently suffered recovering I think that Christmas 2023 is looking the likely retirement date. 18 months to go 
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May 2022
9:02pm, 16 May 2022
83 posts
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OverTheHillToo
Stupid naive question, while taking a small annuity while still at 'work' is the only downside that the annuity income is taxable?
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May 2022
9:21pm, 16 May 2022
22,727 posts
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GimmeMedals
The sun came out this afternoon so we decided to spend out Monday afternoon doing this It still feels like a treat sitting in the garden with an alcoholic beverage on a weekday, even after 18 months. |
May 2022
9:34pm, 16 May 2022
27,264 posts
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Johnny Blaze
I went to the pictures this morning. A happy 3 hours away from the world.
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May 2022
9:37pm, 16 May 2022
58,050 posts
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Velociraptor
I still haven't quite got my head round being free to do ALL THE THINGS on weekday afternoons.
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May 2022
5:38am, 17 May 2022
14,073 posts
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Sigh
The other thing is I think that subject to the market losses we have recently suffered recovering I think that Christmas 2023 is looking the likely retirement date. 18 months to go Great to have a date to aim for, Bazoaxe ! Hope it works out for you! |
May 2022
6:07am, 17 May 2022
32,661 posts
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EvilPixie
So is it official now vrap?
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May 2022
7:24am, 17 May 2022
22,657 posts
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Bazoaxe
The other interesting thing is that if I take TFC but fund it from the DC pot that’s a higher amount than taking 25% of the DC pot in drawdown tax free I hadn’t realised that and it makes quite a positive difference to my calculations on income. |
CumbriAndy Useful Links
FE accepts no responsibility for external links. Or anything, really.- Money Helper
- How Much is Enough to Retire On?
- Retirement Living Standards
- How much will you need to retire?
- Free Govt website for pension advice
- SIPP pensions
- ISAs
- Check your National Insurance contributions
- Check your state pension account
- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
- Power of Attorney information
- Making the most of your retirement
- 20 tips for a happy retirement
- Married Couple's Allowance
- Aviva guide to retirement planning
- U3A
- U3A Local Sites - map
- Make a Power of Attorney
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