right or wrong time to retire?

bajmoe

I’m in the position to retire at the moment with a lump sum and monthly pension, bearing in mind the current financial situation would it be the right time wrong time or doesn’t it matter?

dunstonh

No straight answer can be given to that is it depends on if you want to retire or not, if you can afford to, what type of retirement provision you have and what type of retirement income you will be purchasing. Those are just for starters.

HarryD

Is your pension a money purchase scheme (as opposed to final salary) and if so is its value linked to current stock market prices? If yes then that might be a reason for not retiring right now - though who knows if shares might go even lower.

However, most schemes move your fund out of shares as retirement approaches so you might find that the current fall in share prices has little effect on your pension.

So, you might want to find out if the current stock market level is directly affecting your pension. If not (or even if yes?) then assuming you can live on your projected pension and you want to retire, why not retire?

bajmoe

thank' s i'll look into that

Jennifer_Jane

Another point to consider, apart from the pension, is do you have stock options which you must take on retirement (or within 6 months of leaving).

If so, the current value of those stock options may also be something to think about.

Jen
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