42
Striker
Currently you can take your works pension at 55. In April 2028 that goes upto 57. So depending in the scheme, if you just miss out, you might be able to go at say 56 under transitional arrangements
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Retirement
- Thread starter Shieldsman
- Start date
Currently you can take your works pension at 55. In April 2028 that goes upto 57. So depending in the scheme, if you just miss out, you might be able to go at say 56 under transitional arrangements
Darlo1973
Striker
Don't fully understand it myself but this is an explainer
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Select coaches
Striker
42
Striker
I think the longer term, the plan is for it to be SPA - 10. So for me it will probably will be 58, but it would've been about 59 anyway before I could get away.
Select coaches
Striker
Clear as mud, sounds like I can access my pension at 55 for 1 month then lose access until 57.
57 is the plan anyway so all good
archiesdad
Midfield
This is my exact issue and I guess the same for most folk. What is enough? Speaking to a few people I know who have taken an early retirement i'd think 95% are wary and think they need more than they actually do!!
Fletch
Striker
57 is great age to go IMO , it’s the golden question though , how much do you need . No set rule everyone will be different on this
Helps if your partner is retiring then also so can just feck off travelling etc.
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Darlo1973
Striker
No partner (at the moment) and no kids so I have feck off anytime anywhere . Ashes downunder in winter 29/30 would be a good start.
houghton cut head
Striker
So, put my notice in yesterday and finish in 4 weeks time. I was hoping for a bit of redundo but there was none being offered. Stayed long enough to get a bonus if one is paid though.
Tempted to change my pension funds over to cash funds ahead of the election as I could imagine it will be a bit volatile after the election regardless of the result, buy will ask the FI about this.
Tempted to change my pension funds over to cash funds ahead of the election as I could imagine it will be a bit volatile after the election regardless of the result, buy will ask the FI about this.
Matt Hopkins
Winger
Nice one mate
Tempted to change my pension funds over to cash funds ahead of the election as I could imagine it will be a bit volatile after the election regardless of the result, buy will ask the FI about this.
Bet a pound to a pinch of shite they say no.
My guess is that the election result (which is pretty much certain) has been priced into the markets already. I doubt Labour winning would have a negative impact anyway. I'd probably stay invested.
cfg
Striker
Probably too late in any case.
houghton cut head
Striker
I can move them myself on the portal, funds are moved to the new fund the following day. I did it a few years ago myself, so wont be an issue if I wanted to do it.Nice one mate
Tempted to change my pension funds over to cash funds ahead of the election as I could imagine it will be a bit volatile after the election regardless of the result, buy will ask the FI about this.
Bet a pound to a pinch of shite they say no.
Ok, makes sense I suppose, it shouldnt be a surprise to Sebastian or Henry who will be in government in a months time, but who knows
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42
Striker
And also, a global fund will only have a small % in the UK anyway, so it would make very little difference
houghton cut head
Striker
Matt Hopkins
Winger
With my DC pot I moved 3 years money into 'cash' before I packed in so it's safe, yes it wont grow much but at least it wont crash as such
To be fair if I'd left it all invested I'd have a canny bit more money
but could also be sitting here thinking bollocks I'm in the shit here.
To be fair if I'd left it all invested I'd have a canny bit more money
but could also be sitting here thinking bollocks I'm in the shit here.Unless you're sitting in something like VLS 100 which is classed as a global fund but is about 25% UK iirc
Slim999
Striker
I switched my L&G pension fund away from UK stocks to 70 % international equities ( something called BNY Mellon Global Equity fund) - which basically focuses on a range of US , UK , European stocks and quite an emphasis on tech (Microsoft, Nvidia , Amazon etc etc )
I was actually following the advice of a punter on here last Oct time. My pension pot has since grown ( in 8 months or so ) by 15% - and the particular scheme linked below is up by around 18%
I was actually following the advice of a punter on here last Oct time. My pension pot has since grown ( in 8 months or so ) by 15% - and the particular scheme linked below is up by around 18%
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gazza.1990
Striker
Thread nearly a year old, bet there's been a few retired on here since it was started, even at the age of 34 this thread made me up my AVCs last year and having just received an annual statement it's starting to look much better.
I'm just about to start a sip with either. Vanguard or AJ bell probs to tide me over from 60-67-we'll be comfortable at retirement age.. Quick questions&
1. I think I'm right in saying if anything happens to me it will go to my civil partner.
2. I can take the cash out when I'm 60....can I do it bit by bit?
3. Lastly, how and when do I get my tax on it if it's not coming out my pay
Sorry if these are basic but I've always been in government final salary pensions.
1. I think I'm right in saying if anything happens to me it will go to my civil partner.
2. I can take the cash out when I'm 60....can I do it bit by bit?
3. Lastly, how and when do I get my tax on it if it's not coming out my pay
Sorry if these are basic but I've always been in government final salary pensions.
