Section 32 Pension & GMP
__Chris
Posts: 1 Newbie
Hi
I have a pension that matures next June on my 65th birthday.
It's a Section 32 policy with a guaranteed minimum pension.
What does this mean?
I have a pension that matures next June on my 65th birthday.
It's a Section 32 policy with a guaranteed minimum pension.
What does this mean?
0
Comments
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And have you obtained a new state pension statement?https://www.gov.uk/check-state-pension0
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Hi
I have a pension that matures next June on my 65th birthday.
It's a Section 32 policy with a guaranteed minimum pension.
What does this mean?
It's the guaranteed minimum that they have to pay you based on your contracted-out record ... and quite likely all you'll ever get although will be subject to indexing.
Can I ask when & how you came to have this S32 policy?0 -
I just reached retirement and have just accessed my option 32 policyHi
I have a pension that matures next June on my 65th birthday.
It's a Section 32 policy with a guaranteed minimum pension.
What does this mean?
The policy was originally with the co-op but was later sold onto Royal London
They gave me a transfer value with i didn't take
I was offered a set amount a week or take £27k tax free and and get a smaller amount per week
It increases 3% per annum
Any questions please ask0
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