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ChileanRed
Posts: 19 Forumite


I'm nearly 56 and tempted to pull my 25% out of the PPF. I'm unmarried and my partner would only get 50% of my pension if anything happened to me.
Would I be doing the right thing or am I bonkers?
Would I be doing the right thing or am I bonkers?
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Comments
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ChileanRed said:I'm nearly 56 and tempted to pull my 25% out of the PPF. I'm unmarried and my partner would only get 50% of my pension if anything happened to me.
Would I be doing the right thing or am I bonkers?0 -
If you take a tax free lump sum, your partner's pension would be 50% of a lower amount. In the PPF the partner's pension is based on the pension you are receiving at the time of your death (NOT the pension you would have been receiving had you not taken a tax free lump sum).1
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Are you sure you can get 25%. Mine has no lump sum.
Edit: also,you can't "pull out" the 25%. It's only available once the pension is in payment.0 -
Brynsam said:If you take a tax free lump sum, your partner's pension would be 50% of a lower amount. In the PPF the partner's pension is based on the pension you are receiving at the time of your death (NOT the pension you would have been receiving had you not taken a tax free lump sum).
Is the PPF different to the usual convention?1 -
garmeg said:Brynsam said:If you take a tax free lump sum, your partner's pension would be 50% of a lower amount. In the PPF the partner's pension is based on the pension you are receiving at the time of your death (NOT the pension you would have been receiving had you not taken a tax free lump sum).
Is the PPF different to the usual convention?Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
garmeg said:Brynsam said:If you take a tax free lump sum, your partner's pension would be 50% of a lower amount. In the PPF the partner's pension is based on the pension you are receiving at the time of your death (NOT the pension you would have been receiving had you not taken a tax free lump sum).
Is the PPF different to the usual convention?1 -
Brynsam said:garmeg said:Brynsam said:If you take a tax free lump sum, your partner's pension would be 50% of a lower amount. In the PPF the partner's pension is based on the pension you are receiving at the time of your death (NOT the pension you would have been receiving had you not taken a tax free lump sum).
Is the PPF different to the usual convention?1 -
garmeg said:Brynsam said:garmeg said:Brynsam said:If you take a tax free lump sum, your partner's pension would be 50% of a lower amount. In the PPF the partner's pension is based on the pension you are receiving at the time of your death (NOT the pension you would have been receiving had you not taken a tax free lump sum).
Is the PPF different to the usual convention?1 -
Thanks for your input folks. I'm not planning on spending the 25% or the weekly/monthly payment I would receive. Was just going to stick in a savings account.0
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