Pension at 50 - help

kenshaz

Andy_L wrote: »

9/1 at the age of 50 is an abysmally low rate though

Andy ,when I stated 12x1 for my wife you stated the same comment ,just curious as to what ratio is available to you on a lump sum?

Andy_L

In the classic civil service pension I don't get the option of commuting - its a fixed lump sum & pension. Under the new one it's 12/1 - generally accepted by financial pundits as a poor deal - the annuity you can by with the lump some doesn't make up for the lost pension

swimminggoogle

Thank you for the contributions, they have made things a bit clearer. Some very practical advice. Will sit on the fence for a while until I receive state pension forecast.

Still undecided about taking now or defferring.

thanks

SG