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Pension fund £16000 to pay just £480 per yr

philng · 2009-09-20 09:46:26

My wife has a pension fund value £16735 & has been quoted just £480 pa pension on joint life at age 50 retirement. I calculate this to be just 2.8% of the pot each year. This would easily be obtainable from a savings account so effectively they are just paying the interest on the pot without any return of capital. How can…

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seven-day-weekend Posts: 36,755 Forumite

25 September 2009 at 11:03AM edited 25 September 2009 at 12:06PM

I am 59 and after five years of 'retirement' have applied for a job in my former profession.

My experience and qualifications make me as employable as younger people, I am not going to need maternity leave or time off with children, I am in good health and a good reliable worker.

I just hope my prospective employers do not feel the same way about my age as the person on this board.

(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
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