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Pension Poser :(
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Don't fall for it. It's a horribly bad deal. The Civil Service deal at 12% is bad. 15-16% is fairly normal but break-even is more likely to be 28:1. It's a rip-off only suitable for those with short life expectancy. In colourful but clear language, they are inviting you to let them to bend you over a wall and have their way with you.sunnysmiler wrote: »So it looks like the Commutation rate is 9:1 and another couple of things I should add are if i take no lump sum my Percentage of Allowance used is 12.62% and if I take Lump sum only 9.67% is used
Pension income is income for mortgage affordability purposes. So is self-employment income. It'll be far cheaper for you to use a mortgage to buy than take a lump sum and lose a fortune in income. So maybe have a chat with a mortgage broker to see what you could borrow.sunnysmiler wrote: »I would also add i am self employed and still working so be interesting to know if that has any bearing and if so what ?0
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