Should i

Scallypud

I take all your points on board and it's definitely gave me something to think about


My plan now is to work well in to next year before I pull the plug.


I intent to take a few months off for some me time then get a wee part time job.


I know a lot of you wont like this but my intention is to take the cash offered for my DB pension due to my physical condition. I cant see me living in to my late 80's. I would transfer it in to a drawdown plan.
I've been tracking my DB pension and if it continues at the rate it's being doing I should receive approx. £340K.

Albermarle

I have a private pension of £161K

If you are worried about investing new money, in case of a crash , then have you thought about what this £161K is invested in ?
If you were going to draw it out gradually over 20 years or more , it is best to be invested in at least medium risk assets . However as you are planning to use it in a shorter time frame then would make sense to have it in relatively lower risk investments.

IanSt

Scallypud wrote: »

I know a lot of you wont like this but my intention is to take the cash offered for my DB pension due to my physical condition. I cant see me living in to my late 80's. I would transfer it in to a drawdown plan.
I've been tracking my DB pension and if it continues at the rate it's being doing I should receive approx. £340K.

It is of course completely up to you, but say you only live to your late 70's, that's a long time where you'll have to live with the potential of stockmarket crashes, prolonged low returns, etc. Wouldn't it be easier for you if you knew that didn't affect you and you had the DB pension just paying out month after month?

If investment returns remain good then it will of course likely mean a lower income for you, but if there is a 50% stockmarket fall and then returns remain low and inflation starts ramping up, then who knows what your income will be.

As I said at the beginning, this decision is completely up to you, but please make sure that you're not being seduced by the thought of the big transfer value without considering the potential negatives of that decision.

AnotherJoe

Scallypud wrote: »

I know a lot of you wont like this but my intention is to take the cash offered for my DB pension due to my physical condition. I cant see me living in to my late 80's. I would transfer it in to a drawdown plan.
I've been tracking my DB pension and if it continues at the rate it's being doing I should receive approx. £340K.

Its easy to have the intention but much harder to do it, even just finding an adviser to look at your case will be an issue, expect to pay several % to get a recommendation you will need to make a transfer.