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Where to invest my pension lump sum
derek007
Posts: 26 Forumite
I will be getting a lump sump from my pension of £84k and hope to retire at 61. I will also have an annual payment as part of my pension. I want to boost this annual payment by using all of the £84k over a period of 6 years until I get the state pension at 67. Ignoring interest I want to draw down £14k per year. Any advise on where to invest my money would be most welcome. As this is my pension I want little or no risk.
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Have you used any of your ISA allowance?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings 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
Baby Step 6/7 . £18000 saved and invested. £47,000 deposit paid on new home DEBT FREE !!!1 -
A fixed term annuity looks closest to your objective.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
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