Early pension or lump sum??

btbright

Good evening,I am about to be made redundant at 58 with a company final salaried pension my questions are:-
1)should I take the reduced pension?
2)Should I take a reduced pension and lump sum?
3) Should I defer the pension untill 2013 when I retire?

I expect to keep working ,maybe part time or get a low paid job that I enjoy !

thanking you in advance and all the best any advice most welcome.
What would YOU do ?
Cheers:beer: :beer:

dunstonh

If you dont need it you dont take it. Taking it early could result in financial penalties and paying tax unnecessarily.

It really depends on the terms of the redundancy and if you can afford to live without it.

it doesnt matter what I (or anyone else) would do as we are not in your shoes. Your circumstances may mean any one of those 3 options is best. We dont know enough to say.

I know it isnt the answer you wanted to hear but better that than being told incorrectly.