BT pension- Aged 57, take it now or defer?

ExBT_Bob

jem16 wrote: »

You're also going to have to take into account that for the first 5 years if you don't take it early, you are going to have to spend up to £100k (assuming you still want £20k a year) of your savings/investments to actually live on. We could go with £18k net as that would be equivalent to £20k gross.

So at 80 years old, it's really £375k or £400k less £90k = £310k.

You really have to take into account the savings/investment capital plus any lost interest and/or return from investments.

Conversely, if you stay at work for 5yrs you get 5yrs more salary (5yrs more to do salary sacrifice, SIPP, etc..) and 5 years extra reckonable service!

Aside from that, many ExBT'ers here have taken an early release package so already have some extra ££ to keep them going for a while.

robin61

[QUOTE

Aside from that, many ExBT'ers here have taken an early release package so already have some extra ££ to keep them going for a while.[/QUOTE]
Unfortunately not for all that long for people taking the usual package on offer now.