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Occupational pension query
brandx
Posts: 64 Forumite
My OH is 60 next month and due to receive a small pension from a job he had for 10 years in the 90's . He has been sent a letter detailing a number of options using estimated figures @ Dec 2009.
Keeping to approx. figures, Option 1 is a lump sum of £6500 plus a weekly payment of £42. Option 2 is a lump sum of £12000 plus a weekly payment of £36. The other options are a variation between these two.
He is not working but claiming max. IB and I am not working or claiming. We have savings in excess of £20k but this is diminishing due to our living costs. It seems to me that Option 2 is the obvious choice but am I missing something?
Thanks for any replies.
Keeping to approx. figures, Option 1 is a lump sum of £6500 plus a weekly payment of £42. Option 2 is a lump sum of £12000 plus a weekly payment of £36. The other options are a variation between these two.
He is not working but claiming max. IB and I am not working or claiming. We have savings in excess of £20k but this is diminishing due to our living costs. It seems to me that Option 2 is the obvious choice but am I missing something?
Thanks for any replies.
0
Comments
-
Option 2 sounds like the obvious choice from my perspective too.
Hope you guys enjoy retirement!0 -
Is the pension index linked or will it rise in any other way? You need to take this into account if that is the case.0
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