Future Pension

madwomanintraining

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

She should also request a state pension forcast 

Keep_pedalling

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

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

madwomanintraining

luvchocolate said:

She should also request a state pension forcast 

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

madwomanintraining

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

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.

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

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

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

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

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