Pre-pension draw down homework.

Macklin_2

sandsy said:

Is this the bae airbus pension scheme that you contributed to for 31 years, as per this thread:

https://forums.moneysavingexpert.com/discussion/comment/78279484#Comment_78279484

Presumably, this the mainstay of your pension provision and will provide you with a guaranteed income for life? Are you saying you want to give up those guarantees for a transfer value from which you can take a tax free lump sum then regular withdrawals, but where you have to make your own investment decisions and manage the income pattern yourself instead? So effectively you carry the risk of how long the funds last?

Will you be carrying on working after 55?

Thanks for taking the time to respond to my question and also look that asked roughly the same question some time ago.
Since then, (this is where it gets a bit messy)I have left Airbus, where I accrued 31years service, with a Bae "DB" pension, to go and work for Bae Systems, themselves.
Because of their (Bae) pension rules for new starts, I had to start a "DC" pension and freeze my old one, not being allowed to keep it going. 
Thanks again.

Marcon

Macklin_2 said:

sandsy said:

Is this the bae airbus pension scheme that you contributed to for 31 years, as per this thread:

https://forums.moneysavingexpert.com/discussion/comment/78279484#Comment_78279484

Presumably, this the mainstay of your pension provision and will provide you with a guaranteed income for life? Are you saying you want to give up those guarantees for a transfer value from which you can take a tax free lump sum then regular withdrawals, but where you have to make your own investment decisions and manage the income pattern yourself instead? So effectively you carry the risk of how long the funds last?

Will you be carrying on working after 55?

Thanks for taking the time to respond to my question and also look that asked roughly the same question some time ago.
Since then, (this is where it gets a bit messy)I have left Airbus, where I accrued 31years service, with a Bae "DB" pension, to go and work for Bae Systems, themselves.
Because of their (Bae) pension rules for new starts, I had to start a "DC" pension and freeze my old one, not being allowed to keep it going. 
Thanks again.

Your old pension isn't frozen; it will revalue each year until you draw the benefits.

Linton

Marcon said:

Macklin_2 said:

sandsy said:

Is this the bae airbus pension scheme that you contributed to for 31 years, as per this thread:

https://forums.moneysavingexpert.com/discussion/comment/78279484#Comment_78279484

Presumably, this the mainstay of your pension provision and will provide you with a guaranteed income for life? Are you saying you want to give up those guarantees for a transfer value from which you can take a tax free lump sum then regular withdrawals, but where you have to make your own investment decisions and manage the income pattern yourself instead? So effectively you carry the risk of how long the funds last?

Will you be carrying on working after 55?

Thanks for taking the time to respond to my question and also look that asked roughly the same question some time ago.
Since then, (this is where it gets a bit messy)I have left Airbus, where I accrued 31years service, with a Bae "DB" pension, to go and work for Bae Systems, themselves.
Because of their (Bae) pension rules for new starts, I had to start a "DC" pension and freeze my old one, not being allowed to keep it going. 
Thanks again.

Your old pension isn't frozen; it will revalue each year until you draw the benefits.

And possibly increasing in value more than if you were still contributing to it.