Buying a Property for Pension - To Do It or Not to Do It ?

isasmurf

Rickycowslip wrote:

My latest company scheme payment suggests if I retired today I'd get about £10k pa, assuming I was at retirement date. Looking at current annuity rates does that mean an equivilent fund would be around £300k ? - ie. you'd need £300k to buy an annuity giving £10k/yr. Can I then use this in a SIPP ? Seems a huge figure....

£200k. Under the new rules you multiply what you get per annum by 20 to work out what your employer values your pension fund at.

whiteflag_3

he he yeah, but... there's little chance of me actually doing this. I'm just keen to explore the potential with people on this site. And of course this site is all about avoiding having to pay if at all possible isn't it...

Im not sure its all about avoiding having to pay if at all possible.....more a case of not paying more than you need to or using other people's experience to spot when you need to pay, as trying to do something on your own might cost you alot more in the long run.

For example just look at the recent post by dog about Cavendish! Cheap but hasnt achieved anything!