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Which option to choose
Spad_2
Posts: 15 Forumite
Advice please... I'm 54 redundant disabled wife and wish to retire... No mortgage or debt.
Pension options are:-
Max lump sum 58,000 with a reduced yearly pension of 13,000
or
Reduced lump sum of 30,000 with a Max pension yearly of 15,000
or
Level State options
Max Lump sum of 58,000 with a yearly pension to state pension
age of 14,000 and a yearly state pension of 11,000
or
Reduced lump sum of 30,000 with a yearly pension to state
pension age 17,000 and a yearly pension of 13,000 from
state pension age.
.
I'm completely baffled and keep changing mind as to what is the best
option. I'm even thinking about putting some extra into the fund
to give me a better monthly payout. The temptation of having
all that money in the bank may prove too much and start to eat away.
.
Thanks
Spad
Pension options are:-
Max lump sum 58,000 with a reduced yearly pension of 13,000
or
Reduced lump sum of 30,000 with a Max pension yearly of 15,000
or
Level State options
Max Lump sum of 58,000 with a yearly pension to state pension
age of 14,000 and a yearly state pension of 11,000
or
Reduced lump sum of 30,000 with a yearly pension to state
pension age 17,000 and a yearly pension of 13,000 from
state pension age.
.
I'm completely baffled and keep changing mind as to what is the best
option. I'm even thinking about putting some extra into the fund
to give me a better monthly payout. The temptation of having
all that money in the bank may prove too much and start to eat away.
.
Thanks
Spad
0
Comments
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Spad wrote:Advice please... I'm 54 redundant disabled wife and wish to retire... No mortgage or debt.
Pension options are:-
Max lump sum 58,000 with a reduced yearly pension of 13,000
or
Reduced lump sum of 30,000 with a Max pension yearly of 15,000
or
Level State options
Max Lump sum of 58,000 with a yearly pension to state pension
age of 14,000 and a yearly state pension of 11,000
or
Reduced lump sum of 30,000 with a yearly pension to state
pension age 17,000 and a yearly pension of 13,000 from
state pension age.
.
I'm completely baffled and keep changing mind as to what is the best
option. I'm even thinking about putting some extra into the fund
to give me a better monthly payout. The temptation of having
all that money in the bank may prove too much and start to eat away.
.
Thanks
Spad
Disregard above..... got figures wrong somehow... will re-post0
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