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Looking for some advice...
Comments
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The Teachers added pension is very good value if you plan to take your benefits at scheme age. However, if you are planning to retire earlier than scheme age, then alternative may be better.bigbeff said:I don't really understand my teachers pension. I have currently got faster accruals set up... but I can also/alternately buy additional pension in £250 lumps... which will cost me about £2500 to increase my pension by £250. Its all a foreign language to me! Or I think I could buy additional voluntary contributions but I think they are separate.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.1 -
Ahh OK. Lots to think about then. Thank youDebt as of 29/12/25
Overdraft: 1465.60 327.33
CC1: 866.75 500
CC2: 5699.85 5199.85
Total:8032.30 6027.180 -
Or £500 a month into a regular saver should get 6%, and they're normally instant access in case your plans change.af1963 said:Paying down the mortgage now would be less efficient than sticking it in a fixed rate 1 year account ( 6%+ available), then seeing what happens to your mortgage rate.0 -
I can’t find a regular saver to take £500 or more a month, the max seems to be £250.0
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First Direct £300/m; Lloyds £400/m. There's nothing to stop you opening a bank account with either/both in order to get access to their regular savings account.NannaH said:I can’t find a regular saver to take £500 or more a month, the max seems to be £250.
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/
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The Lloyds Club regular saver requires a Club current account, for which there are a few conditions including a £3 fee each month if you didn't pay in at least £2,000 in the previous month. We have Lloyds Club as our main account anyway, but it would be a bit of a pain operating it just to get the regular saver.First Direct £300/m; Lloyds £400/m. There's nothing to stop you opening a bank account with either/both in order to get access to their regular savings account.
https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/1 -
https://www.beehivemoney.co.uk/savings/regular-saver/
You and your spouse could each open an account and pay in £250 a month each?1 -
Not a pain for me. Easy peesy.Qyburn said:The Lloyds Club regular saver requires a Club current account, for which there are a few conditions including a £3 fee each month if you didn't pay in at least £2,000 in the previous month. We have Lloyds Club as our main account anyway, but it would be a bit of a pain operating it just to get the regular saver.2 -
Thanks. I think I might open a regular saver in the first instance and go from there.Debt as of 29/12/25
Overdraft: 1465.60 327.33
CC1: 866.75 500
CC2: 5699.85 5199.85
Total:8032.30 6027.180
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