Early retirement and bridge to state pension

Ewymac56

Basically covering their backs if poor decisions are made. Literature promotes discussions with Pensionwise! 
Will talk to Lighthouse initially! First one free! Seeking referral from friends re IFA.

xylophone

You mention AVC -this?
https://www.pru.co.uk/pdf/TAVK0789.pdf

Ewymac56

Anybody got any views on how good this product is when coming to accessing the pot using an income drawdown? Is it worth paying an IFAs fees? Ewymac56 said

Will talk to Lighthouse initially!

Lighthouse appear to be expensive and restricted in their product range. (Quilter products) £200/hr, if the Avc is the right package. To transfer 2% of fund value (c£2720). Apprehensive re paying by the hour as it’s out of my control. 
My gut is telling me that the Pru Avc will be a competitive product and I may be wasting money engaging Lighthouse. Any comments or views to help with my dilemma would be greatly appreciated!  
I realise that any comments would not be considered as advice and any decisions made will be my own! Thanks in advance.

Ewymac56

What exactly does your state pension forecast say?

How many qualifying years did you have at 6/4/16?
What is your COPE?

Cope £47.61
State pension £152.78
28 full years upto 2016

german_keeper

Ewymac56 said:

Anybody got any views on how good this product is when coming to accessing the pot using an income drawdown? Is it worth paying an IFAs fees? Ewymac56 said

Will talk to Lighthouse initially!

Lighthouse appear to be expensive and restricted in their product range. (Quilter products) £200/hr, if the Avc is the right package. To transfer 2% of fund value (c£2720). Apprehensive re paying by the hour as it’s out of my control. 
My gut is telling me that the Pru Avc will be a competitive product and I may be wasting money engaging Lighthouse. Any comments or views to help with my dilemma would be greatly appreciated!  
I realise that any comments would not be considered as advice and any decisions made will be my own! Thanks in advance.

My union, PCS, also has some sort of link with Lighthouse. I went to a free session, although this was a group one, confidently expecting a hard sell. Must be about a year or so ago. Once I had come to terms with this youngster (looked about 12 year old) in his 1980s throwback yuppie suit standing in front of us, it was actually quite good.
Very much general advice, get your state pension forecast and look at your options to increase it, work backwards and note what other pension/financial provision you have and at what age, retirement planning is a joint venture with 2 PTAs etc etc. Lots of the stuff I have picked up in the last couple of years reading this forum. He mentioned LISAs, AVCs and other types of investments but didn't try to push anything via Lighthouse. Most in the room seemed very impressed.
He did mention the option of a free 121 appointment and suggested it would be more of the same but just more personalised. Sorry, I didn't bother with the 121 and don't know anyone who did so I can't vouch for the content. 

xylophone

Cope £47.61
State pension £152.78
28 full years upto 2016

At 6/4/16
28/30 x £119.30 + (SERPS/S2P) - Deduction for Contracting Out
(28/35 x £155.65) - COPE.

Your starting amount was the higher of the two - in this case the old rules calculation.

Presumably you have been employed since 2016 and have added  four more years?

You will make voluntary contributions as necessary to reach a full NSP?

With regard to the AVC, you wish to transfer it out to another pension provider so that you can access on a regular basis to supplement your TP?