Retirement Plan Evaluation

kev2009

Hi,

interesting read, i'll have to make a post myself and see what opinions are .

Out of interest, is the £890 included you/employers & tax being added? as in total amount going in or is the £890 your contribution and then employer/tax on top?

Thanks

Kev

atush

ExitStrategy wrote: »

Thank you for the advice folks. Triumph13 - That's an interesting idea of transferring some of my pension saving to a pot for my wife to save tax. I'll definitely be looking into that!

Atush - the £7000 NHS pension from 60 years old is a figure from discussion my wife has had with the financial advisers within the NHS. I'll ask her to double check that it takes account any potential reductions and get it in writing.

Thanks Audaxer. We live in the countryside in an area of the country where the cost of living is lower than average. The 3 of the kids are quite close in age and the eldest is pretty self sufficient already so there are lots of big 'one-pot' meals. We are both quite lucky with our jobs. My wife works part-time shiftwork and I can work from home up to 4 days a week so childcare is at a minimum.

I'm sure the household cost will rise as the kids get older but we know we can cope comfortably on the 25k figure.

Have her get the amount/% of reduction, and the normal retirement age/pension amount.

ExitStrategy

kev2009 wrote: »

Hi,

interesting read, i'll have to make a post myself and see what opinions are .

Out of interest, is the £890 included you/employers & tax being added? as in total amount going in or is the £890 your contribution and then employer/tax on top?

Thanks

Kev

Hi Kev,
This thread has been really worthwhile for me. To answer your question the £890 is the total amount going into the pension fund.

kev2009

Thanks, i'll have to make one myself and see what opinions are out of interest, I suspect i should be paying in more but will have to see, thanks again!

Kev