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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
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