What do I do with my Pension Pots?

patanne

I'm sure I am completely misunderstanding, but surely doesn't the answer to this all depend on how much the shortfall is on the offset mortgage?

If it is larger than the largest and smallest (under £30K - new rules next year!) then the larger lump sum from the other pension will be needed, but what about being able to take those other pensions and use those, rather bad commutations on the other pension. Hopefully it will be possible to postpone the end date - especially if the bulk is paid off by the offset.

On another point whilst deferring state pension to add to your pension is a good deal, deferring and taking the lump sum is not as good a deal.

Marco_Polo

To put it all into context, my offset mortgage shortfall is £95K; my FS pension maximum lump sum is £97K and my pension pots are £7K, £15K, £21K and £18K - the last one is still live being from my current employment and increasing by £480 per month.