what else can i do to get more pension?

gyrospitta

i am mid fifties and would like to look at retiring from my present job at 60.

by then i will have paid into local government pension for approx 18 years. our pensions are in state of flux at the moment but i reckon i should have small pension about £3,800 per year from that plus a small lump sum

i have applied for state pension forecast to see how much that is likely to be when i can take it at my official retirement age of 62

i plan to take out a mina isa each year between now and then and have my savings placed in high interest account chosen through researching this site.

can anyone suggest what else i could do
maybe take out a private pension on top of this? or maybe max isa's are better to try for
any advice would be welcome. thanks in advance

dunstonh

i have applied for state pension forecast to see how much that is likely to be when i can take it at my official retirement age of 62

State retirement age is 65 unless you are female.

can anyone suggest what else i could do

A mini cash ISA is fine for emergency fund and cash holdings but not for retirement planning. You should be looking at the stocks and shares ISA for that.

Techno

Depending on how much you already have as cash savings and how much you want to save each year you could either take out a mini cash ISA for £3000 and a mini stocks and shares for £4000 or a maxi one for £7000. We are doing the minis at the moment because we need to build cash reserves up again. I'm waiting with baited breath for Martin's promised 6.5% cash ISA

sleepless_saver

dunstonh wrote: »

State retirement age is 65 unless you are female.

If you're a woman born between 1950 and 1955 it falls between 60 and 65 depending on exact date of birth - I assume that's the position OP is in

gyrospitta

thanks everyone