Drawing down pension next year. Move from cash to pension now?

NormalNorman

https://forums.moneysavingexpert.com/discussion/comment/82097026#Comment_82097026

Close relative installed solar, battery and aircon. Big upfront investment but basically energy independent now. He was an mcs life long electrician so did it all at cost price. Trouble is you can’t really move house after installation and the capital is sunk. I say that as moved house seven years after a PV installation but that had the highest level of FIT so had paid for itself. Definitely a great way to diversify. Cheers

NormalNorman

https://forums.moneysavingexpert.com/discussion/comment/82097110#Comment_82097110

Yeah, we cleared the mortgage many years ago before fiscal drag became a thing so I could pay extra into pension too. We were on 1.?% and would have faced a quite a rise. One other benefit to no mortgage is making the tiny Scottish BRT band more tax efficient. Say I had to sal sac less I could be using HRT money towards the mortgage. Cheers

Ballard

https://forums.moneysavingexpert.com/discussion/comment/82097195#Comment_82097195

I don’t have any intention of moving again so I should be able to reap benefits of such an investment. If I do go ahead with this then I wouldn’t expect the solar to cover the usage cost of aircon but it would help a lot and for most of, if not all, of the rest of my life.

MallyGirl

we did solar and battery a couple of years ago (very happy with this decision) and are considering a split unit air con in a couple of rooms now. Our 1.16% 5 year mortgage deal ends this year and for now I am signing up to a tracker with no ERC instead for the flexibility in our early retirement years. I am retired and I am hoping that OH will stop next year at 60.