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The People's Pension-soon to retire
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susiem
Posts: 8 Forumite
My husband has just been enroled in The People's Pension but he retires in 18 months. Should he opt out as it doesn't seem worth it for such a short time. He doesn't have another pension and will only get the state pension but we are quite well off and will still have a good standard of living.
Thanks
Thanks
0
Comments
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No he should not opt out unless he wants to give up his employers contribution, which is basically free money.
He is not going to build up a very big pot over 18 months, but with just the state pension as income he will be way below the personal allowance so will have plenty of leeway to withdraw that money tax free soon after he retires.0
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