Pension for before retirement

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82139226#Comment_82139226

Despite the endless doom and gloom in the media, there are still many people in the UK in well paid jobs. I would not have thought the distribution of salary levels in the UK is any different now than it was 10 years ago. Over 10% of workers earn more than £70K pa .

hara____

https://forums.moneysavingexpert.com/discussion/comment/82139424#Comment_82139424

It might also be possible to claim the NHS pension early, e.g. at 60, accept the actuarial reduction, and then the new additions only have to cover the equivalent of the state pension to generate a smooth income profile from 60 onwards.

Depends on total income needs, of course. And I'm no expert on the NHS scheme, but worth investigating the rules for an early claim.

Linton

https://forums.moneysavingexpert.com/discussion/comment/82141660#Comment_82141660

still confused or irrelevant to the OP as an NHS employee with a DB pension.

However, there is an important underlying consideration that the tax benefits of paying into a separate DC pension could be limited by the generous benefits being accrued within the NHS DB scheme over a relatively short time period.

I don’t know whether this would be a significant factor in the OPs circumstances as it is very dependent on the financial details. Perhaps people with practical knowledge could explore this further.

prowla

https://forums.moneysavingexpert.com/discussion/comment/82141708#Comment_82141708

ok - bailing out of this thread.