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The most fluid pension option?
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Of course BSP is scheduled to start rising in line with earnings instead of CPI as of 2012, so that is likely to compensate for the lower level of S2P that higher earners will get.Those on average or lower salaries will get more S2P under the new rules than they get now.
Its one of the problems with S2P. It can change yearly and a the whim of the Govt and can be increased or decreased. That is why relying on it is a risky position. Most people dont put enough towards their retirement so planning using basic state pension and personal provision is the better way to go. Then, if you get some S2P, then its bonus.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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