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Opting out lgps
Comments
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I'm not I'm just worried about making the wrong decision0
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16 pages now in this thread. How many more pages required telling you the same thing?4
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I'm just going to post it now on way home0
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Posted it so the wheels are in motion
No more over thinking3 -
Can you purchase private annuitys at a better rate now. Because interest rates have gone up? Just read an article. So if they go you'll get less annuity for your money?0
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Most people don't buy annuities these days - at least not with their whole pot. This is a decision for 25 plus years in the future where the financial landscape could be very different.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.2 -
Ok but I have technical bought an annuity with the lgps.0
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No you haven't.Matt_22 said:Ok but I have technical bought an annuity with the lgps.
Your future pension is based on the rules of the scheme, and is known at all times, and will have inflation proofing built in. It is not dependent on external factors.
An annuity's cost / value will vary according to a whole lot of factors that apply at the time you decide (in the future, when you retire) to purchase it. Although it provides a fixed payment, the underpinning factors are very different and it may not carry any inflation proofing.3 -
Thank you0
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