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Crude figures help needed wth GDP.
Cyril
Posts: 583 Forumite
Can anyone help me, if its possible to guestimate how much lump sum could be available on the below final salary scheme.
Retirement age 58. Final pensionable salary of £55k + bonus.
Yearly pension of £14888 after 15 years service and a lump sum can be taken as long as pension income left is GDP greater than or equal to £968 per year.
Am assuming GDP is gross domestic product but what does this mean in terms of the pension planning.
Retirement age 58. Final pensionable salary of £55k + bonus.
Yearly pension of £14888 after 15 years service and a lump sum can be taken as long as pension income left is GDP greater than or equal to £968 per year.
Am assuming GDP is gross domestic product but what does this mean in terms of the pension planning.
:beer:
0
Comments
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Er, are you sure it's not GMP - Guaranteed Minimum Pension. Would make a lot more sense;).0
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Could be. I'm doing it from memory and not very up on pensions tbh.:beer:0
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