pension

meadsthe

Hi I have a private pension ,that I want to opt out of . get a lump sum then get monthly payments . I was told that you can shop a round for the best deals .Can any one give a list of the best deals Then use some of it . Then invest the rest in bonds or Isa best deals Thanks

McKneff

It depends on your age.

How old are you.

Jack_Griffin

Are you talking about buying an annuity?

Something like this...
http://www.hl.co.uk/pensions/annuities/annuity-best-buy-rates

xylophone

to opt out of

Do you mean that you are of an age to legally access your pension and that you wish to take the 25% pension commencement lump sum and buy an annuity with the rest?http://www.pensionsadvisoryservice.org.uk/workplace-pension-schemes/final-salary-schemes/retirement-options

dunstonh

Can any one give a list of the best deals Then use some of it .

Best rates come from IFAs. https://www.unbiased.co.uk to find your nearest one

zagfles

Consider drawdown too. Annuity rates are low at the moment

McKneff

I'm still waiting for the oP to give their age.

I'm really getting the impression that they are nowhere near enough old enough to claim their pension.

sandsy

You can do that if you've reached the minimum age required to do it.

Otherwse, it's illegal to try and get money out of a pension although it can be left to grow with investment returns or transferred to another pension scheme.

atush

You can however, stop paying in future contributions if you are under 55. But if that is a good idea or not...............................

meadsthe

I am 55 years of age so it can be withdrawn now Sorry I forgot to put that in my first post Thanks

atush

Just think of allt he good advice you would have gotten if yo had done a complete post the first time? Many may not respond now.

I will say, take your 25% TFLSum if you want.

But taking your actual pension at your age might be a bad idea depending on very many things you haven't told us. like what is the normal retirement age.

such as current employment and tax status. current income for other savings and investments (and their total value). Other pensions. Spouse and dependants? their income and pensions. your housing/ownership/mtg.

there are a number of others but those would help for a start.