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How can I boost my local authority pension?

baldy_pete
Posts: 7 Forumite
in Credit cards
Hi All
I am 54 and have worked for most of my life in the voluntary sector without a pension. I now work for a local authority but only have 6 years contributions.
How can I boost my pension?
I am thinking of buying additional years contributions but when I last asked an advisor from the pensions team, they indicated that I would only be getting out the same as I put in so it would not be worth it.
I have a house in a very nice area and have discussed retiring to Spain and one thing I considered is to use capital to purchase a large number of years.
Is this possible and what would be the cost of such a purchase?
Do I need to pay equivalent of all contributions - mine and the council or just mine?
Or should I start to stock up on beans?
Thanks
I am 54 and have worked for most of my life in the voluntary sector without a pension. I now work for a local authority but only have 6 years contributions.
How can I boost my pension?
I am thinking of buying additional years contributions but when I last asked an advisor from the pensions team, they indicated that I would only be getting out the same as I put in so it would not be worth it.
I have a house in a very nice area and have discussed retiring to Spain and one thing I considered is to use capital to purchase a large number of years.
Is this possible and what would be the cost of such a purchase?
Do I need to pay equivalent of all contributions - mine and the council or just mine?
Or should I start to stock up on beans?
Thanks
It may be a dog's life but does he look like he's worried about money?
0
Comments
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I suggest you post this in the Pensions Forum, not credit cards.0
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Thanks will do
I do find the site very useful but in all the advice there's no easy "how to " stuffIt may be a dog's life but does he look like he's worried about money?0 -
baldy_pete wrote: »Thanks will do
I do find the site very useful but in all the advice there's no easy "how to " stuff0
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