A Pension Newbie

xylophone

At least now he has the certainty and simplicity of a good regular guaranteed income .

Indeed, but I suspect that at the moment, reminding him of this will have the same effect as saying to a newly bereaved widow, "At least he left you well provided for, dear...."

Answer from widow, "But I'd rather have him back....."

Answer from person made redundant from a fulfilling role...."But I'd rather have my job back......"

BallouBear

I will admit, as much as I have the redundancy payment, yes, I definitely would prefer my job back. I did really love my job that much. Life goes on as they say. Never in my life have I been through so many emotions. For now it's a sadness, a deep sadness. 
Thank you to everybody here, for all the advice and support. Thankfully my redundancy is enough to pay off all my debt, mortgage, car etc etc. Hopefully put some aside for a small holiday if we can ever travel again. 
Certainly, from what I have read, my pension is good and if I don't have a mortgage, easily enough to live on, so I will not take the lump sum.
I realise that the answers to my original question was not difficult for you all, but for me, I just didn't know where to turn for clarity.
Once again, thank you to all. It has really helped me.

Black_Cat2

BallouBear said:

I will admit, as much as I have the redundancy payment, yes, I definitely would prefer my job back. I did really love my job that much. Life goes on as they say. Never in my life have I been through so many emotions. For now it's a sadness, a deep sadness. 
Thank you to everybody here, for all the advice and support. Thankfully my redundancy is enough to pay off all my debt, mortgage, car etc etc. Hopefully put some aside for a small holiday if we can ever travel again. 
Certainly, from what I have read, my pension is good and if I don't have a mortgage, easily enough to live on, so I will not take the lump sum.
I realise that the answers to my original question was not difficult for you all, but for me, I just didn't know where to turn for clarity.
Once again, thank you to all. It has really helped me.

Take care Mr Bear and stop by on the forums if you want to be distracted at anytime 🐻

Typhoon1

I'm only just older than you, in a position to finish in 15 months and have my figures relating to lump sums, stepped pensions etc.

Not wishing to appear morbid, on the assumption you are married do you need to consider what your wife would do if you died?

For example if her pension becomes £10,000 / year would that be enough to live on? If you took a lump sum of £100,000 it would be sat in the bank as protection.

There's a lot more to think about other than whether or not you need the money now.