Future Pension

madwomanintraining · 23 February at 9:17AM

My sister is 55 and looking ahead requested her future pension figures from her previous employer. They have come back as a little over £6,000 per annum at age 60. She is now worrying about her financial future - is there any advice as to what she can do now, she works part time at the moment as a dinner lady in a school.
Thanks for any advice.

luvchocolate · 23 February at 9:43AM

She should also request a state pension forcast

Keep_pedalling · 23 February at 10:24AM

If the £6000k a year is from an old fashioned defined benefits (DB) pension so is likely to be indexed linked. When combined with her state pension she will have an income considerably higher than she has now, so I don’t think she has too much to worry about, although the main issue will be the 7 year period between getting her company pension and the state pension kicking in.

Silvertabby · 23 February at 11:51AM

Is she in her current employer's pension scheme ? If not, why not - it may not be much, but every little helps.

madwomanintraining · 23 February at 2:09PM

luvchocolate said:

She should also request a state pension forcast

Thank you. Does she do this via a Government website?

madwomanintraining · 23 February at 2:14PM

Silvertabby said:

Is she in her current employer's pension scheme ? If not, why not - it may not be much, but every little helps.

Yes she is.

madwomanintraining · 23 February at 2:22PM

Keep_pedalling said:

If the £6000k a year is from an old fashioned defined benefits (DB) pension so is likely to be indexed linked. When combined with her state pension she will have an income considerably higher than she has now, so I don’t think she has too much to worry about, although the main issue will be the 7 year period between getting her company pension and the state pension kicking in.

She left the employment in 1996., so not sure what type of pension it is. I think as has been suggested she needs to get a state pension forecast now and try and work out if she will be able to retire at 60, or have to wait a while longer.

p00hsticks · 23 February at 3:27PM

madwomanintraining said:

luvchocolate said:

She should also request a state pension forcast

Thank you. Does she do this via a Government website?

She can do it online here, although she'll need to go through some sort of registration / verification if she hasn;t already done so.

https://www.gov.uk/check-state-pension

madwomanintraining · 23 February at 4:37PM

p00hsticks said:

madwomanintraining said:

luvchocolate said:

She should also request a state pension forcast

Thank you. Does she do this via a Government website?

She can do it online here, although she'll need to go through some sort of registration / verification if she hasn;t already done so.
https://www.gov.uk/check-state-pension

Thank you very much.

blue.peter · 23 February at 5:48PM

p00hsticks said:

madwomanintraining said:

luvchocolate said:

She should also request a state pension forcast

Thank you. Does she do this via a Government website?

She can do it online here, although she'll need to go through some sort of registration / verification if she hasn;t already done so.
https://www.gov.uk/check-state-pension

Alternatively, the form to be found here can be printed off and posted (address shown on the form).

madwomanintraining · 23 February at 11:18PM

blue.peter said:

p00hsticks said:

madwomanintraining said:

luvchocolate said:

She should also request a state pension forcast

Thank you. Does she do this via a Government website?

She can do it online here, although she'll need to go through some sort of registration / verification if she hasn;t already done so.
https://www.gov.uk/check-state-pension

Alternatively, the form to be found here can be printed off and posted (address shown on the form).

Thank you

Future Pension

MSE Newsflash

Future Pension

Replies

Quick links