Final salary transfer value

Ordinary_Yet_Unique

Carrot49 said:

Albermarle said:

. Assuming I die at 80 (current life expectancy is 78) 

That figure of 78 is average life expectancy from birth. Once you have survived until you are 60 it goes up.
Currently 84 for men and 86 for women, which means 50% will live longer than that, and 25% will reach their early 90's.
So maybe you need to recalculate a bit.

I refused a large CETV about 5 years ago. The logic being that I already had built up significant DC pensions, savings etc. so was not sensible to put all eggs in one basket. I would for sure be better off if I had cashed it in, but most likely at the expense of sleepless nights when markets were crashing, like with Covid.

How old you are when you die doesn't really matter. I have an uncle who is 94. He has done nothing but sit in a chair for the last 15 years. Your bills, gas, electric,  poll tax and food are the only essentials you have to pay and I keep spreadsheets for those costs. All other monies are for enjoyment. I don't imagine I will be flying long haul when I'm 80. Our current standard of living is very comfortable. I will get another valuation in 12 months and then I have more information ad to which to make a decision. 

You seem very pessimistic about getting older. I have relatives well into their 80s still travelling the world! 

They are positive and forward looking. Some of them have relatively (compared to others here) low pension income, but are secure in the knowledge that their money will never run out! Even a lowish DB income with inflation protection, and a state pension with its guarantees gives them peace of mind. 

In my opinion a DB pension of £7500 a year plus a state pension are both not to be sniffed at!

MallyGirl

Carrot49 said:

Albermarle said:

. Assuming I die at 80 (current life expectancy is 78) 

That figure of 78 is average life expectancy from birth. Once you have survived until you are 60 it goes up.
Currently 84 for men and 86 for women, which means 50% will live longer than that, and 25% will reach their early 90's.
So maybe you need to recalculate a bit.

I refused a large CETV about 5 years ago. The logic being that I already had built up significant DC pensions, savings etc. so was not sensible to put all eggs in one basket. I would for sure be better off if I had cashed it in, but most likely at the expense of sleepless nights when markets were crashing, like with Covid.

How old you are when you die doesn't really matter. I have an uncle who is 94. He has done nothing but sit in a chair for the last 15 years. Your bills, gas, electric,  poll tax and food are the only essentials you have to pay and I keep spreadsheets for those costs. All other monies are for enjoyment. I don't imagine I will be flying long haul when I'm 80. Our current standard of living is very comfortable. I will get another valuation in 12 months and then I have more information ad to which to make a decision. 

My half brothers all moved to Oz/NZ so my Dad does fly long haul at 80 if he wants to see them as its much more difficult for them to bring their families to the UK. With his bad knees and ankles, and being taller than average, that means flying club if he still wants to be able to walk by the end of the journey. Life doesn't end at 80

Albermarle

 I don't imagine I will be flying long haul when I'm 80. Our current standard of living is very comfortable. 

You might not be, but you might well be still holidaying in nice hotels in Spain, France, Cornwall, Ireland etc .
Plus you might be paying for gardeners, help in the home, privately funded care and medical treatments etc.