my pension

peter7449

I am 64 i have a pension pot of £149,000 is it wort me taking it now or waiting till i am 66 ,i have left my job in the last two weeks                                                                                  i have enough savings to live on for the next two years

Brynsam

Entirely up to you when you start to take the funds. If you don't need the money, you might do better to leave them in their current tax-efficient environment. Whether they are in the right fund is another matter. If you plan to start drawing your pension in a couple of years, you may want to consider ensuring they are not in funds which will fluctuate heavily (equities or similar).

dunstonh

I am 64 i have a pension pot of £149,000 is it wort me taking it now or waiting till i am 66 ,i have left my job in the last two weeks                                                                                  i have enough savings to live on for the next two years

Probably worth accessing some of the pension rather than the savings for tax reasons.   However, it really depends on your wider situation and future plans.

Albermarle

Have you investigated what actual options you have for the way you take it ? and/or has the provider already detailed these.
Not all pension providers offer all possible options . Older pensions are usually more restrictive than newer ones.
If the options offered are not suitable , you can always transfer it.
Do you know that you can get a free pensions consultation/discussion with PensionsWise ? It is a government agency so not trying to sell you anything .
https://www.pensionwise.gov.uk/en

xylophone

Have you obtained a state pension forecast?
https://www.gov.uk/check-state-pension

As above you can have an initial discussion with Pension Wise about options but they will not offer financial advice.

What options does your current scheme offer  for  accessing the pension?

ElephantBoy57

peter7449 said:

I am 64 i have a pension pot of £149,000 is it wort me taking it now or waiting till i am 66 ,i have left my job in the last two weeks                                                                                  i have enough savings to live on for the next two years

If it is invested in the stock market, I would say that the stock market is low at the moment, but it could always go lower.

Do you think the stock market will be higher when you will need the money?