The Retirement Thread
9 lurkers |
172 watchers
May 2022
7:42am, 20 May 2022
11,222 posts
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lammo
Wow nice Bazo. In a similar vein it was my 48th anniversary yesterday, i'm getting there slowly 
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May 2022
10:34am, 20 May 2022
6,084 posts
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um
In my experience, I've never had an annual update from deferred scheme (ie where I left the company). When queried, they have always replied they don't do it and it's not a legal requirement. I've also found the GMP figures misleading and a waste of space. My experience again, on a failed scheme, had a GMP of about £13k, based on 'an estimated 7% inflation'. Actual pension value when assessed by PPF/FAS £7k |
May 2022
10:38am, 20 May 2022
135,495 posts
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GregP
I requested one a month or so back and got a reply in about ten days. I still don't trust the wretched thing to pay out mind.
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May 2022
12:29pm, 20 May 2022
5,872 posts
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ThorntonRunner
Surprised at lack of info others have experienced. I received an update on my deferred DB scheme at least annually - both a personal update and a scheme update
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May 2022
5:18pm, 20 May 2022
1,409 posts
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arbster
I used to get an annual update, until the scheme was transferred to another provider. Now they provide very little information unless I ask. The information is also fairly inconsistent, even though it is their sole business. I think I'm getting closer to working out exactly what the right questions are to get exactly the information I need in a form I can use it.
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May 2022
7:24pm, 20 May 2022
22,682 posts
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Bazoaxe
I ran some DB quotes today. Looks like annual increase has been applied and the numbers look quite encouraging. I am surprised that the reduction at 55 compared to 60 is not all that big. The difference is for each year I can work the TFC gets bigger and obviously so does the remaining DC pot
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May 2022
7:34pm, 20 May 2022
61,907 posts
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Lip Gloss
Spoke to someone at the NHS pensions today about how much I lose this year if I retire at 59 instead of waiting till m 60 next year…bit of a difference on such a small pension so will have to have a meeting with my FA to see how much my other investments are making to see if I will use that money this year.
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May 2022
8:18pm, 20 May 2022
135,575 posts
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GregP
Assuming NHS works like LGPS - which would seem reasonable - there’s a calculator thingy. Hold on.
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May 2022
8:20pm, 20 May 2022
135,576 posts
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GregP
This: lgpsmember.org |
May 2022
8:51pm, 20 May 2022
2,465 posts
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Flatlander
At the time when I took early retirement using the NHS Pension Scheme (1995 version), something similar to the LGPS was applied, called an actuarial reduction. nhsbsa.nhs.uk will give you further information. |
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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