Pension Planning beyond 2020 for next 20 years

Linton

1&2. Depends on the numbers.  In theory the lower DB pension earlier should be worth much the same as the standard DB pension at the normal pension age.  However whether it is depends on the scheme. There could be benefit to you in later life to have the extra inflation linked pension and therefore using your DC pension money to finance the gap.
3. Good for the kids possibly not so good for you.  How old would the "children" likely be when they inherit?  Perhaps they could be already retired and have no real need for the extra money.
6.  Would you be able to draw down the SERPs and AVC pensions tax free by keeping within your tax allowances after you stop working?  If so then that is a good time to take the money.  If you are going to pay basic rate tax on ithem anyway there is no benefit in taking taking the money before you need it.
11. Probably no.  the £40K pension allowance only applies to new money/benefits going into your pensions. If your scheme provides for greater than CPI annual increments during deferral I believe it could be an issue.

Heisenberg01

Dude,why the hell you both still working?

You can't take it with you!

Dazed_and_C0nfused

Heisenberg01 said:

Dude,why the hell you both still working?

You can't take it with you!

Although some people do try!

https://www.africanews.com/2017/01/10/ugandan-man-buried-with-55000-to-appease-god-on-judgment-day/

handsome0707

Heisenberg01 said:

Dude,why the hell you both still working?

You can't take it with you!

Working is always best to keep fit and keep the brain active, and if the brain is active then usually finances take care of themselves. I suppose logical way of looking at this would be if both husband/wife work full time for 40 years. taking inflation into account and making right/correct investment decisions throughout you lives then your financial portfolio kind of takes care of itself by the time you approach 60. We haven’t done anything extra and we haven’t inherited anything, we’ve just worked hard/smart and now seeing the financial rewards after 40 years of hard work. Now we need to look at effective ways of continuing this in our old age because the health will naturally slow down and still have to survive last 20+ Years. 

Albermarle

Dazed_and_C0nfused said:

Heisenberg01 said:

Dude,why the hell you both still working?

You can't take it with you!

Although some people do try!

https://www.africanews.com/2017/01/10/ugandan-man-buried-with-55000-to-appease-god-on-judgment-day/

Although reading the article it looks like he did not keep it very long .
His will was however ‘violated’ over the weekend after his remains were exhumed and the money removed by his clan members.