Making best use of my tax free lump sum

albaecosse

I am a Civil Servant and have been offered voluntary redundancy which I have accepted so I will end up retiring on 31 March 2013, aged 51. I will be paid my pension which will be around £11,000 per annum commencing 1 April 2013 and receive my pension tax free lump sum on this date. My pension is the Classic Scheme. My question is should I use some of my tax free lump sum to increase my monthly pension or would I be better investing it in some private investment scheme to gain a monthly income or what? If I use my lump sum to increase my civil service pension I will receive £4.43 additional pension per annum for every £100 of lump sum I put back into my pension (called inverse commutation).

Thanks in advance for any thoughts anyone can offer

jem16

Already answered on your first thread yesterday. Have you read the replies?

https://forums.moneysavingexpert.com/discussion/4414119

albaecosse

Thanks for info much appreciated - I'm new to this game as you can tell - how do I delete this post?

jem16

albaecosse wrote: »

Thanks for info much appreciated - I'm new to this game as you can tell - how do I delete this post?

You won't be able to completely delete the thread. You would need to ask the board guides to do it for you.

Probably best to leave it and use the other thread. Anyone coming here will see the link to the main one anyway.