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pension insurance
MrE1
Posts: 43 Forumite
Does anyone know of any insurance provider who could cover the Local Government Pension Scheme (LGPS) + its APC in the event the government increases the pension age or further reduces the pension amount for taking an early retirement?
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Comments
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No. .MrE1 said:Does anyone know of any insurance provider who could cover the Local Government Pension Scheme (LGPS) + its APC in the event the government increases the pension age or further reduces the pension amount for taking an early retirement?1 -
The premium for covering such a vague risk - a risk which is impossible for an underwriter to quantify - is likely to be far more than the cost of paying extra contributions either to the LGPS or a personal pension.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1
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In a way, there is cover for it. You and how much you put away into S&S ISAs, SIPPs, LISA etc. You can fund any potential gap and if you end up not needing it to fund the gap, then its extra for you to have in your retirement.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.3
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