What to do with Final Salary pensions?

bigfreddiel

What are the basis of your fs pensions? I had a 1/60th, paid about £500 into it in the eighties.

Forgot about it entirely. Now at 65 it's paying me £3,500 a year.

Check what your scheme is and contact the admins for a forecast, cheers fj

bigfreddiel

bigadaj wrote: »

You may be able to do better than the quoted rate on the db pension, but I'd personally leave that alone as it could form a good stable basis in the future.

It could also be used to allow you to invest in higher risk and so return investments within your other pensions, isas and unwrapped investments.

Don't bother, not until you know the basis of your pensions

room_101

I'm pretty sure the scheme is 1/80th.
Normal retirement age: 65

mgdavid

room_101 wrote: »

I'm pretty sure the scheme is 1/80th.
Normal retirement age: 65

and the other question?
(when did you leave that employment, and how old were you then?)

room_101

Sorry - I left that scheme in 2008 aged 31 with 8yr 3mths of pensionable service.

Kynthia

room_101 wrote: »

Sorry - I left that scheme in 2008 aged 31 with 8yr 3mths of pensionable service.

So your pension 2 was worth £2808 a year in 2008? If so then it will have had 8 years of RPI increases since then. That's the figure you need to compare with your current cetv figure and then factor in the differences in risk between now and 65 (guaranteed RPI up to 7% vs what return you think you'll make after fees).