early pension calculation

harrynicholas

I was only after a guess. I'm getting the exact data from my broker, this was a stop-gap, but instead of no wont save that much really, and no your deluded if you think you'll make money by starting early I just get pension-speak, so naturally I think you're all as thick as me.

harrynicholas

lilac_lady wrote: »

I've read the thread and can only hope that harrynicholas doesn't have a partner to bully when he retires, no matter when that is.

Who's the bully, I ask a question and get pension-speak in return. And now comments about my character which sound a bit slanderous to me. I'll have to start a new topic - "Can I a sue this nincompoop for berating me on the internet?".

harrynicholas

CLAPTON wrote: »

you do indeed save 24,000 by not making any more contributions... just think what you could of saved if you had never paid into that pension..

Well as it turns out I don't, but you still get points for being as sarcastic as me.

jem16

harrynicholas wrote: »

I just get pension-speak, so naturally I think you're all as thick as me.

What part of pension-speak is;

What kind of pension do you have?

It's the most important question that you have completely ignored and that had to be answered before anyone could give even an educated guess.

Yes I answered the one question that I could hazard a guess at but it's only a small part of a much, much bigger picture. Unfortunately you ignored all the other points I made.

However you will now need to get your answers elsewhere as your attitude here leaves a lot to be desired.

harrynicholas

I appreciate your response as it was the only sensible response to the original question, which was just meant to be an informed guess. Originally I didn't think what type mattered to the original question - do I save 24,000 and is it an extra 60,000 - because, as you point out I was missing the tax and NI aspect, and the 'extra' ten years comes out of whatever I've contributed plus interest, not an EXTRA ten years of a set rate pension. As you've actually been helpful please don't think I'm being funny, but if you look at the original question what type of pension makes no difference, to me it looks like maths and a bit of advice.
Thank you for your help, and sensible critiscisms. My projection should arrive withing 5- 7 days (why not tomorrow, is my pension guy on a forum too?). so waste no more time on me.

jem16

harrynicholas wrote: »

but if you look at the original question what type of pension makes no difference,

It makes a huge difference.

For example if it was to be a defined benefit (i.e. based on years of service) pension, taking it early could see you lose as much as 5% for each year it is taken early. As your retirement age is 65 that could see you lose 50% of your pension.

Now can you see why it's important?

to me it looks like maths and a bit of advice.

It's not though and several people have tried to tell you that - and that was before you became abusive. These people genuinely tried to help but for some reason you thought they were just trying not to answer you.

Thank you for your help, and sensible critiscisms.

That's better - why couldn't you have done that earlier?

harrynicholas

jem16 wrote: »

It makes a huge difference.

For example if it was to be a defined benefit (i.e. based on years of service) pension, taking it early could see you lose as much as 5% for each year it is taken early. As your retirement age is 65 that could see you lose 50% of your pension.

Now can you see why it's important?



It's not though and several people have tried to tell you that - and that was before you became abusive. These people genuinely tried to help but for some reason you thought they were just trying not to answer you.



That's better - why couldn't you have done that earlier?

I know it's hard to believe but for the most part I like to try to get the world around up and perky, give directions when I can, offer my umbrella and vacate my seat for the elderly or up-the-duff. Put the shoe on the other foot though and see if you can find out what frequency digital HD tv arrives at your screen (sort of in my line of work) at and see if it doesn't get a little frustrating. If you ask me this question I'll say "I don't know, I imagine 50 Hz, but don't take my word for it" but see if you like "well it depends on what continent your talking about." as an answer.

EdInvestor

Right, can you answer this question:

What is the value of your pension pot right now?

jem16

harrynicholas wrote: »

but see if you like "well it depends on what continent your talking about." as an answer.

I'd rather have an answer that will lead to a further discussion to ascertain exactly what info I'm looking for rather than an answer which guesses what I'm after. For all you know i may have completely misunderstood what frequency actually means.

I suspect the same is true with your understanding of a pension unfortunately.

You are not answering the most important question simply because you don't know the answer and all this is just bluff and bluster to try and hide this fact.

harrynicholas

Didn't I say forget it? You lot don't listen do you.