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How much to make up the difference?
chesky369
Posts: 2,590 Forumite
My employer is probably finishing our final salary scheme soon. I have 2.5 years until retirement at 65. We are all due to meet in the next month or so with the scheme’s financial advisors to discuss our individual situations. I have calculated that, if my employers replaced the scheme with nothing, I shall be approximately £1,100 per annum short of my calculated pension on retirement. What I would like to know is how much would have to be invested to make up this amount in the 2.5 years left to me? I can imagine it would be a huge sum, but I thought I should at least have some idea. Of course my employer will replace it with something - not sure what though.
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What I would like to know is how much would have to be invested to make up this amount in the 2.5 years left to me? I can imagine it would be a huge sum, but I thought I should at least have some idea. Of course my employer will replace it with something - not sure what though.
£22,000 should provide £1,100 a year.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you Dunstonh; actually it's not as much as I thought but I doubt they'll just hand it over. Pity.0
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