Final Salary Pension - take lump sum or not

Gig1968

Don't know whether it helps or not but my figures are as follows
CETC £124576
Lump sum £6727
Annual Pension £2242
I am 51 and a half normal retiring age 63.

Spjm

Thanks for all your replies, much appreciated  ultimately I’m split on what to do so I have split the difference and applied today.   At least i know I’m 50% right or 50% wrong!  😊 

NedS

Audaxer said:

Dox said:

Commutation is £21.47 (hence the reference to 'approx £21.50' in my previous post).

That is a pretty good commutation factor in my view, so worth considering the lump sum.

Agreed, some of my DB schemes were quoting commutation factors of around 12 not so long ago.

cloud_dog

Historically mine has always sat at 12 but, last year it was revised to 16 (which cheered me up).

Albermarle

britishboy said:

I'm very new to pensions so cant offer advice, although my company final salary pensions, most who have recently retired calculated they'd need to live to something like 96 or 98 years old to make it worthwhile not to take a 25% lump sum.  No idea how it was calculated though

Each scheme is different , so not easy to make comparisons.