We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
laurieo
Laurieo
Posts: 19 Forumite
My wife retires this year at 60 with a local council pension .
She has been offered :
Annual pension £13176
Retiring allowance £34383
Or
Revised annual pension £10312
Revised Retiring Allowance £68749 .
She will have no other income ,until the state pension kicks in .
What is best to go for ? .
She has been offered :
Annual pension £13176
Retiring allowance £34383
Or
Revised annual pension £10312
Revised Retiring Allowance £68749 .
She will have no other income ,until the state pension kicks in .
What is best to go for ? .
0
Comments
-
What is best to go for ? .
That depends on your individual circumstances.
Do you need a lump sum to actually spend on something? If not as it's the normal dire 12:1 commutation rate offered by Public Sector pensions, you are normally better off with the higher income as the higher lump sum could never be invested to replace the lost income.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards