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Pension help
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As others have said your pension is too good to lose. My wife’s a teacher so has a defined benefit scheme and I work in the private sector so DC scheme. We make roughly similar contributions to our pensions but hers will be worth much much more than mine at 67 - we will rely on hers for our retirement.
I appreciate your concerns though, I’m 26 as well and I’ve worked full time for nine years. The idea of another 41 is just not realistic.
Our rough plan is to keep paying into our pensions, and pay off our mortgage by the time we’re 51ish. We hen have ten years of mortgage payments to save up. We can then retire at 61 on our savings and part of my pension. Then at 67 we can take her pension to live on for the rest of our lives, and hopefully get our state pensions too (though we are not counting on a state pension!).
Is there any way you can save in addition to the contributions you’re making?0
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