UKAEA inverse commutation questions.

shinytop

ProDave wrote: »

Thanks

So does that 1/12 calculation mean if I went the other way then each £12 of lump sum I give up would give me £1 more pension?

It might make more sense at that rate.

You'd have to check the scheme allows zero lump sum. AFAIR, OH's (NHS) didn't but mine does.

nigelbb

ProDave wrote: »

Thanks

So does that 1/12 calculation mean if I went the other way then each £12 of lump sum I give up would give me £1 more pension?

It might make more sense at that rate.

It would make no sense for any pension scheme to offer that rate as it's far too generous. Conversely the other way round is a very poor deal for the pensioner.

The pension scheme will work it out on actuarial tables & not give you any more than you are currently getting whether you take a lump sum or take i in instalments. If you that £21824 as a tax free lump sum it's the equivalent of £27280 gross. Age 60 your life expectancy is 25 years so even without any return on investing the lump sum you could draw down the equivalent of over £1000 per year as extra pension.

ProDave

Well the outfit running this pension could not organise their way out of a wet paper bag.

Just over a week after sending my request by email to the email address they provided me, it bounced back. This is what it said:

This is the mail system at host smtpgrave08.hostedemail.com.

I'm sorry to have to inform you that your message could not
be delivered to one or more recipients. It's attached below.

For further assistance, please send mail to postmaster.

If you do so, please include this problem report. You can
delete your own text from the attached returned message.

The mail system

<ukaeapensions@equinity.com>: host mail.equinity.com[80.92.66.174] said: 454
4.7.1 <ukaeapensions@equinity.com>: Relay access denied (in reply to RCPT
TO command)

I shall phone them tomorrow to ask for a postal address so I can put my question in a letter via snail mail.

xylophone

http://www.uk-atomic-energy-pensions.org.uk/Contacts.htm
How to contact the schemes' administrators
The contact details for the Scheme are as follows:

Post: UKAEA Pensions

PO Box 5130

Lancing

BN99 9AP

Telephone: 0333-207-5961

Email: ukaeapensions@equiniti.com

ProDave

^^^^ Thanks.