Larger pension v larger gratuity

NAR

jamesd wrote: »

Unless there's a need for the gratuity lump sum it'll probably be best to look into taking an even lower gratuity and increasing the ongoing pension. The extra pension can be invested to accumulate a lump sum over time.

For somebody to inherit and p*** against the wall? My property will be the only inheritance I leave, if I can help it! :cool:

atush

And maybe they wont need it for income - I wont, as my 2nd wife and I will have sufficient income from our final salary pensions to fritter away our lump sums as we see fit! :beer:

your second wife may trade you in for a younger model so dont' make projuctions using her pensions. And in any case, she may want sprogs. If you raise them right, they won't p*ss away their inheritance lol. They might just look after you, and clean your gutters and paint the fence when you are all dodery ;-)

NAR

I am the younger model! :cool: But you're right, nothing to stop her trading me in! :eek::eek: (I better keep on being good to her!)

atush

Now you are on to a winner lol.

xylophone

I think it depends upon whether the reduced pension plus any state pension ( with index linking) would enable you to achieve your desired standard of living in retirement - if so and if you have a definite use for the lump sum, then I think I'd consider taking it.

youngatheart_2

Thanks for your help. Obviously opinions vary and if we all had a crystal ball it would be easy to make the right decision lol. I think we will probably go for the higher pension and hope we live to a ripe old age!

NAR

And I sincerely hope it is not used to pay nursing home fees, instead of having been enjoyed sooner.