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In a DB pension scheme, retiring soon - options?
Comments
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p00hsticks said:PensionerToBe said:My wife is considerably younger than I,
Bear in mind that some DB schemes will reduce the widows pension on offer in such circunstances.
I don't *think* this is the case here, but it's one of the things I am checking. WE recently had a video presentation from the DB scheme explaining various permuations, and neither a cap on index linking or a reduction in spouse pension due to age were not mentioned, even when talking about dependent children.
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Did you check that you're below the lifetime allowance?
If you're over it then a stepped pension, reducing at state pension age, is harshly treated.0 -
marlot said:Did you check that you're below the lifetime allowance?
If you're over it then a stepped pension, reducing at state pension age, is harshly treated.
yes, below the LTA.
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PensionerToBe said:The DB scheme also allows you to take a lump tum and a reduced pension.
My thinking is that I want to maximise my income, keeping things simple as possible. I have no plans (or any need - for example we are mortgage-free now) to take a lump sum, just want to leave my money in the DB scheme to give me as much regular and secure income as possible.0
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