We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Retirement Planning
Comments
-
Good point about getting an annuity to cover the basic living costs, is it possible to get one without needing an IFA and/ pension? (as I am still hoping to find work).
0 -
Annuities are usually bought with pension money. But there are things called Purchased Life Annuities. However I do not think you can buy one of those direct from an insurance company so you will almost certainly need an IFA.
1 -
If you are going to be working in future then an annuity of any type is not likely to be what you want. Also the income may affect eligibility for any state benefits you may want to claim in the future. Money that remains locked up in a pension is normally protected in the event of insolvency proceedings.
A little FIRE lights the cigar1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards