taking lump sum pension

WiltshireLad_2

Hi thanks for your reply; I have now pasted it as you suggested to start a new thread. To come back on your points, yes the £30k will be a final salary and the £70k lump would be just over half what I could commute to. I am still putting into the £140k additional pension. and still will be until I am 60, so at 55, it will be a long way short of that value; £140k is projected value at 60.

Being cautious, I am inclined to just take the lump from the pension, but wondered whether the mortgage route was generally thought to be sensible

Thanks for your feedback

atush

As said on your other thread I w ould not commute your FS pension.

I would instead take a loan out on your house and pay that off when the other pension comes due.

I would also ask, why is your FS pension paying out w/o reduction at 55? And will that income along with your current job, put you into HRT?

I w ould put the equiv of the FS pension into your work pension where you are now to boost the value and LS and save you on tax?

mgdavid

borrowing is probably cheaper tahn commuting, but if you do then do it soon and don't mention you plan to retire at 55, the norm is still 65 of course!