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Prudental Bond 32
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This is when I reach my plan retirement age of 62.
http://forums.moneysavingexpert.com/showthread.php?t=1089865&page=1 post 20 and following might be worth a look?0 -
Even more confused now .Is it saying that even though my bond matures on my 62nd birthday I have NO GMP until State Pension Age currently 66 for me and God knows what they will do in the years before then .Keep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0
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GMP age is still 60 for women and 65 for men. http://www.maturetimes.co.uk/campaigns/pensions-benefits/3439-steve-webb-confirms-women-to-lose-gmp-increase-on-pension.html
http://www.barnett-waddingham.co.uk/news/2012/07/what-is-a-gmp/
You need to ask the Pru what will happen in respect of your own particular policy at age 62.
At the moment it is envisaged that the flat rate state pension will be introduced in 2016 A GMP indicates a "contracted out deduction".
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181229/single-tier-pension.pdf
http://www.pensionsworld.co.uk/pw/article/altmanns-qa-on-new-flat-rate-state-pension-proposals-123228710 -
Too low to support the GMP?
Yes. typo error. The fund value is too low to support the GMP.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
So if my fund is too low too meet my GMP its sort of my gain the Prus lossKeep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0
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yes. They have to pay the GMP even if the fund doesnt support it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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so can anyone guess as to what MIGHT happen when I get to 62 years of age and this bond has matured.
Any ball park figures or suggestions ?Keep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0 -
OK been onto Pru this morning and was told Bond matures and pays out when I'm 62 @ £2313.48p per yearKeep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0
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