The Retirement Thread
2 lurkers |
175 watchers
May 2022
12:52pm, 21 May 2022
4,496 posts
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WayOfTheDodo
Velociraptor that is entirely dependant on your scheme rules, not covered by general regulation.
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May 2022
12:54pm, 21 May 2022
4,497 posts
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WayOfTheDodo
Caveat - up to age 75 where the lump sum rules change.
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May 2022
1:01pm, 21 May 2022
58,133 posts
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Velociraptor
Indeed, WotD, and I don't think my post suggested that the rules of the schemes I'm in were applicable to all schemes.
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May 2022
1:09pm, 21 May 2022
32,775 posts
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EvilPixie
Exactly Ness 🫤
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May 2022
1:12pm, 21 May 2022
21,774 posts
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Ness
Now Mr Pix is back at work, could you afford to go part time now?
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May 2022
2:04pm, 21 May 2022
32,776 posts
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EvilPixie
His salary had dropped Ness as not on shifts now
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May 2022
2:59pm, 21 May 2022
25,325 posts
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Rosehip
I wouldn't hesitate to buy investment funds at the moment if I still had an income that exceeded our outgoings. I'm still buying , hoping it will add to the retirement funds come the time Yes, still investing balance between not taking too much of a hit with charges vs all eggs in one basket - expecting some short term losses,but hoping we’re not too far off the bottom |
May 2022
3:27pm, 21 May 2022
6,093 posts
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um
Greg - looks correct. but other factors to check or consider - are any annual increases the same to both pots/options? - is there a spouse / partner pension to consider, and if so, how is that affected? - does 25% now tax free change the numbers (ie benefit rations) significantly? (the proportions and the values) Being blunt, I suspec tmost people have done most of their spending on the things they want to enjoy by their mid 80s? After that it's more likely to be sustenance rather than wild flings? Or maybe not. |
May 2022
4:40pm, 21 May 2022
2,467 posts
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Flatlander
A minor factor in my decision to take early retirement was that NHS pay was about to be frozen for the next 3(?) years whereas my early pension would continue to be increased by RPI during those 3 years.
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May 2022
11:58am, 22 May 2022
9,725 posts
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Fragile Do Not Bend
Mr F has got an employee-rate mortgage as he worked for a bank, and had to pay tax on it whilst he was employed. He is allowed to keep the beneficial rate as a pensioner but I can’t find anything online to say if he still has to pay tax on it now he is no longer an employee. He’s going to ask the pension scheme, but meanwhile I wondered if anyone knew? |
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- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
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- Aviva guide to retirement planning
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