Uncomfortable ...

ffacoffipawb

Sailtheworld said:

Are you retired and already in drawdown awaiting state pension age?

If you're that worried go back to work for a year. That'll be a year of life funded by work and a year's less draw on investments.

Yes but also with a small DB paid early with another small DB due anytime from 60.

Oh and sorry, but sod that for a game of soldiers! 😀

ffacoffipawb

I wonder if the best approach to this is not to actually reduce drawdown when my second DB comes on line at age 60 (Barber equalised NRD) but to actually continue the drawdown and defer the DB for say 5 years so I end up with a greater guaranteed income. The DB is projected £4.5k at 60 and £6k at 65 (it is about 60% post 88 GMP at that point with 7% revaluation) with CPI indexation on the non GMP in payment.

The DB I took early last year is slightly better as that has RPI indexation.

With full state pension from age 67 we could live on this easily. Maybe buy a small level annuity with 10% of the SIPP as well - as my fixed interest allocation.

Current position
Drawdown £18,000 (cut from £21,000)
DB £7,500
Divis £2,000
Interest £800

I only have 10% LTA left and if LTA is £1.2m in 9 years then that DB of £6k will exactly fall within it.

I also have 2 small pots of £10k available. One for each of the two following tax years.