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Pension or ISA...?
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Do we get hung up on going over LTA by a small amount ? It’s still a fabulous pension to have.Mortgage free
Vocational freedom has arrived1 -
Converting £40k pension contributions into salary, and after tax that's an extra £21k ish now instead. That goes in your isa. Forget about LTA. If you are expecting 75k per year in retirement, and only have 100k isa now, then I don't see how the above will help that much to allow you to retire earlier than 57. You will just need to save more I'm afraid.1
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My thought on reading this thread is that you seem to have more than enough pension to meet your needs in retirement and perhaps it could be better to focus on investments outside the pension (S&S ISAs or unsheltered) to allow you and the Mrs to retire ASAP. It will be less money/more tax but perhaps the extra time could be more important.1
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Sorry, been offline a few days...
Yes, this all comes under the heading of 'nice problems' etc.... fair to say this thread has given me more than enough information to make an informed decision.
Making that decision however...
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