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Early Retirement
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err no - if your calculations assumed that NI was paid then they are too pessimistic as regards the total net income. As a crude calculation the number should be 12/0.8 which is 15 years to payback rather than 17. If you assume inflation of 2%/year the breakeven point falls to around 13 years.
13 years is a lot less than life expectancy.
I thought you stopped paying NI when you reached state pension age?
All the calculation checkers I have used show no NI AFTER you indicate you in receipt of state pension.
Just he gets an income supplement anyway in 2025 when his state pension starts, plus has another lump sum due in 18 months of around 26k.
Hence either way financially I think he will be secure, it's just that extra tax free 36k available now against the pension drop.0
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